Increasing
production of oil and gas coupled with the need to transport and
refined them is expected to fuel the global pump and valves market
for oil and gas industry. Hence, the global pumps and valves market
is anticipated to experience a boom during the forecast period.
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A
device used to move fluids using mechanical fore is known as a pump.
A valve is used to control and directs the flow of fluids through a
pipe. Pumps and valves are very essential for economical and safe
operations. Pumps and valves are used in upstream, midstream and
downstream operations. In upstream operations, pumps can be used for
artificial lift, pumping drilling fluids, etc. in midstream and
downstream operations, pumps are used to increase the pressure of
crude oil or refined products in pipelines. Valves are used for flow
control of crude oil or refined products in upstream, midstream and
downstream operations. The type and size of pump and valves used for
a particular application depends upon the type of fluids and
operating as well as environmental conditions. For example, pumps and
valves used in subsea operations have to withstand harsh subsea
conditions whereas in onshore operations, the conditions are less
severe.
The
global pumps and valves market for oil and gas industry can be
segmented on the basis of application into onshore and offshore. The
pumps and valves used for offshore applications are exposed to harsh
conditions such as high temperature and high pressure. Hence, they
should be able to withstand such harsh conditions for safe and
reliable operations. Onshore segment is expected to dominate the
global pumps and valves market for oil and gas industry due to large
number of exploration activities and new pipeline projects are going
on for production and transportation of oil and gas. On the basis of
pump type, the global pumps and valves market for oil and gas
industry can be segmented into positive displacement pump and
centrifugal pumps. The global pumps and valves market for oil and gas
industry can be segmented on the basis of type of valves into needle
valve, ball valve, gate valve, check valve, and others.
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Growing
energy demand has force oil and gas industry to increase the
production of oil and gas. These produced fluids need to be
transported over long distance. This has resulted into construction
of long distance pipelines for oil and gas. This ultimately increases
the demand of pumps and valves. Moreover, the use of artificial lift
for economical production of oil from wells is also boosting the
global pumps and valves market. The market is expected to grow during
the forecast period owing to these factors. A large number of planned
projects for production and transportation of oil and gas in the
coming years provides a great opportunity to the global pumps and
valves market for oil and gas industry.
Some
of the key players in the global pumps and valves market for oil and
gas industry are SPP Pumps, Flowserve Corporation, CORTEC, LLC, The
Weir Group PLC, DAFRAM S.p.A., LEWA GmbH, Cameron, Cornell Pump
Company, Oliver Valves Limited, PetrolValves, BuTech, FMC
Technologies Inc., PERAR s.p.a, Sulzer Ltd. and L.B. Bentley Limited
among others.
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This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This
report is a complete study of current trends in the market, industry
growth drivers, and restraints. It provides market projections for
the coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
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