LONDON--(BUSINESS WIRE)--Technavio has been monitoring the pumps market for oil and gas industry and it is poised to grow by USD 2.23 billion during 2020-2024, progressing at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- What was the value of the pumps market for oil and gas industry in 2019?
- Technavio says that the value of the market was USD 11.22 billion in 2019 and it is projected to reach USD 13.45 billion by 2024.
- At what rate is the market projected to grow during the forecast period 2020-2024?
- Growing at a CAGR of almost 4%, the market growth will accelerate during the forecast period.
- What is the key factor driving the market?
- The growing need for energy-efficient pumps and the development of 3D-printed impellers are the key factors driving the market growth.
- Who are the top players in the market?
- Danfoss AS, Enerpac Tool Group Corp., Flowserve Corp., General Electric Co., Grundfos Holding AS, Ingersoll Rand Co., ITT Inc., Robert Bosch GmbH, Sulzer Management Ltd., and The Weir Group Plc. are some of the major market participants.
- Which region is expected to hold the highest market share?
- North America
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Danfoss AS, Enerpac Tool Group Corp., Flowserve Corp., General Electric Co., Grundfos Holding AS, Ingersoll Rand Co., ITT Inc., Robert Bosch GmbH, Sulzer Management Ltd., and The Weir Group Plc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The growing need for energy-efficient pumps has been instrumental in driving the growth of the market.
Pumps Market for Oil and Gas Industry 2020-2024: Segmentation
Pumps Market for Oil and Gas Industry is segmented as below:
-
Product
- Centrifugal
- PD
-
Geographic Landscape
- APAC
- Europe
- MEA
- North America
- South America
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Pumps Market for Oil and Gas Industry 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our pumps market for oil and gas industry report covers the following areas:
- Pumps Market for Oil and Gas Industry Size
- Pumps Market for Oil and Gas Trends
- Pumps Market for Oil and Gas Analysis
This study identifies the development of 3D-printed impellers as one of the prime reasons driving the growth of the pumps market for oil and gas industry during the next few years.
Pumps Market for Oil and Gas Industry 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the pumps market for oil and gas industry, including some of the vendors such as Danfoss AS, Enerpac Tool Group Corp., Flowserve Corp., General Electric Co., Grundfos Holding AS, Ingersoll Rand Co., ITT Inc., Robert Bosch GmbH, Sulzer Management Ltd., and The Weir Group Plc. Backed with competitive intelligence and benchmarking, our research reports on the pumps market for oil and gas industry are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Pumps Market for Oil and Gas Industry 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist the growth of the pumps market for oil and gas industry during the next five years
- Estimation of the size of the pumps market for oil and gas industry and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the pumps market for oil and gas industry
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of vendors in pumps market for oil and gas industry
Table of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Centrifugal - Market size and forecast 2019-2024
- PD - Market size and forecast 2019-2024
- Market opportunity by Product
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Danfoss AS
- Enerpac Tool Group Corp.
- Flowserve Corp.
- General Electric Co.
- Grundfos Holding AS
- Ingersoll Rand Co.
- ITT Inc.
- Robert Bosch GmbH
- Sulzer Management Ltd.
- The Weir Group Plc
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
