Table of Contents
Exploration and Production from Unconventional Oil and Gas Sources Will Likely Boost Pump Technology
This research service analyzes current and future trends in the global pumps market in the oil and gas industry. Analysis is based on end users and product types and is segmented by centrifugal and positive displacement pumps. Various market drivers and restraints and any challenges and their impact over time are discussed. This research outlines the competitive structure and total market share analysis. Information is included on the post-recession impact of end-user markets in North America, Latin America, Europe and Russia, the Middle East and Africa, and Asia-Pacific. The study concludes with 3 big market predictions. The forecast period is from 2014 to 2020, with 2013 as the base year.
-In 2013, the global pumps market in the oil and gas industry generated a revenue of $billion. The market is projected to grow at a compound annual growth rate (CAGR) of % from 2013 to 2020.
-As conventional sources of oil and gas continue to dominate global production, demand for pumps is expected from these investments.
-The increase in customer awareness on the advantages of positive displacement (PD) pumps, both economically and functionally, leads to a gain in market share for PD pumps.
-The Western hemisphere leads the global oil and gas production because of the shale oil and gas boom in North America, oil sands in Canada, and other conventional reserves in Brazil, Venezuela, and Mexico. The United States continues to contribute about % of the global shale oil and is the largest producer of shale gas.
-New deep-water and ultra deep-water reserves have been discovered in Asia-Pacific (APAC), which will contribute toward the global oil and gas production.
-The pumps market in the oil and gas industry is expected to reach a revenue of $billion by 2020.
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