Oil and Gas Pumps Market: Overview
Pumps are very important in the oil and gas industry. They are
used to displace oil in several instances such as inside oil drilling rigs and refineries.
They are used for injection tasks, chemical transfers, gasoline transfers, or
steam stripping. The oil and gas industry cannot operate without pumps that
have been specifically designed for them.
Pumps in the oil and gas industry are designed for maximum
reliability and optimum functioning. It is important to consider that the oil
and gas industry faces a wide range of circumstances including temperatures,
pressure, and chemicals. The pumps need to remain operational in such
circumstances, whether onshore or offshore.
Oil and gas pump manufacturers need to meet many criteria to
deliver quality pumps. This includes selecting right materials, their
high-quality processing, and complying with various industry standards such as
ISO/TS 29001 Certification.
Oil and Gas Pumps
Market: Key Segmentations
The global
oil and gas pumps market can be segmented into type, application, and region. In terms
of type, the oil and gas pumps market can be segregated into centrifugal pumps,
positive displacement pumps, and cryogenic pumps. The positive displacement
pumps segment can be further categorized into screw pumps, reciprocating pumps,
and progressive cavity pumps. The differences between the pumps has a direct
effect on their applications. For example, centrifugal pumps are contain one or
more impellers to move fluid through rotation, draw it into the pump’s suction
end, and force it through the discharge end using the centrifugal force. This
technique allows centrifugal pumps to be used for a wide range of applications
such as handling dirty liquids or those with low viscosity or high flow rates
as long as they do not contain vapors, air, or large quantities of solids. They
are preferred in the upstream phase of the oil and gas industry, as a part of
tri-phase or multi-phase pumping applications.
Positive displacement pumps use rotating or reciprocating parts
to transport the liquid into an enclosed space. The technique is designed to
create pressure that drives the liquid to its destination. This type of pump is
ideal for higher viscosity liquids, and are preferred in the upstream phase of
an oil refinery. Some of the key advantages of the positive displacement pumps
include its compact size, high-pressure ratio, and low-cost solution. However,
they are noisy and require extensive maintenance.
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In terms of application, the oil and gas pumps market can be
divided into upstream, downstream, and midstream. Pump applications that take
place close to the source of oil, gas, or hydrocarbons, say offshore, are
considered upstream applications. Downstream applications refer to the use of
pumps during the processing of materials. However, the pumps are primarily used
during transportation of oil and gas in midstream applications.
Oil and Gas Pumps Market: Regional
Outlook
Based on region, the global oil and gas pumps market can be
segregated into North America, Latin America, Europe, Asia Pacific, and Middle
East & Africa. Demand for oil and gas pumps is related to the presence of
oil and gas industry in a region. Therefore, the Middle East is a key consumer
of oil and gas pumps. Similarly, increase in fracking activities in North
America is projected to create lucrative opportunities in the oil and gas pumps
market in the region.
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Oil and Gas Pumps Market: Key Players
The global oil and gas pumps market consists of many small and
big players with varying geographical reach. Key players operating in the oil
and gas pumps market include SPP Pumps, PCM Group, KSB SE & Co. KGaA,
Verder International B.V., and Kirloskar Brothers Limited (India).
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