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The Gradual Recovery of Drilling Activity will Boost Investor Confidence and Market Demand
This study analyzes the North American chemical injection pumps market. Pneumatic, electric, and solar power pumps represent most of the demand for chemical injection pumps. The market is also segmented by geography and end user, with the latter comprising the oil and gas upstream and mid/downstream segments. This research service discusses current and future market trends and offers a competitive overview of the leading participants. Market drivers and restraints are also analyzed.
- The North American chemical injection pumps market generated a revenue of $ Million in 2014. The market is expected to register a declining compound annual growth rate (CAGR) of % from 2014 to 2020.
- Pneumatic, electric, and solar power pumps represent most of the demand for chemical injection pumps. The maximum opportunities exist for electric and solar power pumps due to growing end-user efforts to lower green house gas emissions.
- Although the demand for chemical injection pumps has been affected by the severe drop in crude oil production, ongoing project execution will provide a short-term lifeline for pump manufacturers.
- Fluctuating oil prices and uncertainties in terms of upstream production outlook motivate pump manufacturers to seek opportunities in the downstream sectors of refining and petrochemicals.
- High market fragmentation and low industry growth are driving the need for more pump maintenance services that will prolong pump life.
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