Oil & Gas application segment is expected to incline towards high value-high growth during 2016–2026
The oil & gas industry uses positive displacement pumps for the transfer of crude oil and gas as well as intermediates. Operations such as hydraulic fracturing, drilling, oil and gas well cementing and matrix treatments serve as end-use applications of positive displacement pumps. Both reciprocating as well as rotary pumps are used in this industry where the operating load ranges from moderate to high capacities. The oil & gas segment is estimated to be the major application sector in the global positive displacement pumps market with a revenue share of more than 20% over the forecast period. The segment is anticipated to gain 30 BPS during the forecast period and expand at a CAGR of 4.3% to reach a market valuation in excess of US$ 800 Mn by the end of 2026. The segment is projected to show increasing growth and account for around 25% of the overall incremental opportunity generated from the global positive displacement pumps market.
Long-term tie-ups between key players in the positive displacement pumps market is the popular trend in the oil & gas industry
We have observed two trends associated with the oil & gas industry. Firstly, it has been noted that end users, particularly oil & gas companies are indulging in long-term tie-ups with positive displacement pump companies across the globe. For instance, U.S based Weir Group PLC has entered into a long-term tie-up with Canada based oil & gas company Canyon Services Group after the latter recognised its operating milestone of 1000 hours of pumping time.
Positive Displacement Pumps Market: Water & Wastewater Application Segment Anticipated to Witness Robust Growth over the Forecast Period: Global Industry Analysis and Opportunity Assessment, 2016-2026Buy Now
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