ID: MRFR/E&P/8928-CR | 155 Pages | Published By Chitranshi Jaiswal on February 2021
Horizontal Pumping Systems Market is expected to reach USD 9,836.90 million at a CAGR 3.40% during the forecast period 2022-2030.
Horizontal Pumping Systems Market is expected to grow USD 9,836.90 million at a CAGR 3.40% during the forecast period 2022-2030. Increasing oil and gas exploration and production is expected to drive global market. Horizontal multistage surface pumping systems are employed for fluid handling requirements in a variety of applications in the oil and gas, mining, and industrial sectors. This sort of pumping system is simple to operate and provides several benefits, including high reliability, high flow rate, and minimal maintenance costs. Depending on the horsepower and flow rates required, a variety of horizontal pumping systems are available on the market increasing the Horizontal Pumping Systems Market Share and Horizontal Pumping Systems Market size. Horizontal multistage surface pumping systems are used for fluid management applications in a variety of industries, including oil and gas, mining, and other industrial verticals. They are used for a variety of things, including wastewater treatment, boiler feed water, drainage, liquid transfer, pipeline boosters, water injection, CO2 injection, jet pumping, crude oil and gas transfer, reservoir pressure maintenance, salt cavern leaching, amine circulation systems, and more. For surface pumping applications requiring fluid injection, lift, and transfer, horizontal pump systems offer a cost-effective, low-maintenance multistage centrifugal pump solution. The energy demand is rapidly expanding as a result of rapid urbanization and industrialization, resulting in a considerable increase in the oil and gas industry's share of the market and Horizontal Pumping Systems Market Growth. The horizontal pumping systems market is likely to increase significantly over the forecast period, as horizontal pumping systems have now become a vital aspect of the oil and gas sector. The wastewater treatment and mining industries are also expanding, which is boosting the Global Market Size, Horizontal Pumping Systems Market Share, and Horizontal Pumping Systems Market Growth during the Horizontal Pumping Systems Market Analysis.
The Covid-19 epidemic has had a direct impact on the horizontal pumping systems business during the historic Horizontal Pumping Systems Market Forecast, hurting oil and gas production and demand owing to lockdowns, airline cancellations due to travel bans, quarantines, halts in production, restricted trade across nations, and more. As a result of the production reduction, the horizontal pumping systems company saw a decrease in demand as well during the Horizontal Pumping Systems Market Analysis. In the same way that the oil and gas industry was disrupted, the wastewater treatment and mining industries were also affected. Due to cross-border trade limitations, the pandemic disrupted supply chains and markets, making it difficult to import raw materials for manufacturing processes and export final products. The financial impact of stock market volatility on enterprises and financial markets as a result of market uncertainties. This hurt many firms' financial health, which hampered new exploration and production ventures. As a result, many pump manufacturing companies stopped down, and installers were barred from accessing job sites.
The rising use of horizontal pumping systems in industrial applications, as well as increased oil and gas exploration and production (E&P), are driving demand for horizontal pumping systems. Surface pumping applications in the oil and gas sector use horizontal pumping systems to transfer gases and fluids. Pipeline boosters, water injection, CO2 injection, jet pumping, crude oil and gas transfer, reservoir pressure maintenance, salt cavern leaching, and amine circulation systems are just a few of the applications for these pumps in the oil and gas industry's upstream, midstream, and downstream activities. In the future years, the global oil and gas business is predicted to grow rapidly, resulting in a surge in demand for horizontal pumping systems in the oil and gas industry. Furthermore, the rise in demand for horizontal pumping systems coincides with factors such as rapid urbanization, rising population, and rising per capita income, all of which have resulted in massive growth in the mining, agriculture, marine, municipal, and water and wastewater treatment industries around the world.
Rapid urbanization and population growth have however propelled the mining, marine, water, and wastewater treatment industries all over the world but it somehow deteriorates the industry too. As a result of it, the horizontal pumping systems market is expected to slow down over the forecast period.
Horizontal pumping systems are multistage surface pumping systems used in mining, marine, water & wastewater treatment applications for diverse operations such as water flooding, boiler feed water, mine de-watering, drainage, liquid transfer, and fluid treatment & distribution. These pumping systems' low maintenance costs, minimal vibration, and high flow rate are all elements that are driving up demand for horizontal pumping systems in industrial applications.
The Horizontal Pumping Systems Market Report has been bifurcated into various segments that will help the market to achieve the highest CAGR during the forecast period. The market segments are as follows:
Based on the type, the global market has been segmented as follows:
Based on the end-use, the global market has been segmented as follows:
Based on the region, the horizontal pumping systems market has been segmented as follows:
Because of rising per capita energy consumption and oil and gas exploration and production, the horizontal pumping systems (HPS) market in North America are expected to account for the greatest market share. Furthermore, an increase in oil and gas exploration and production raises demand for horizontal pumping systems, which are employed in a variety of applications in the oil and gas industry. The discovery of oil and gas deposits is likely to raise demand for offshore pipelines, which will drive up demand for horizontal pumping systems in the region throughout the projection period. During the projected period, such factors are expected to fuel the growth of the horizontal pumping systems (HPS) market in North America. Due to an increase in demand for rare minerals, mining exploration in the Asia-Pacific region is expanding. Increased mining expenditure is expanding the scope of mining activities such as dewatering, wastewater treatment, and backfilling. Multistage centrifugal pumping systems are used in the mining industry to carry out these activities. This increase in demand for mining activities is expected to significantly increase the demand for horizontal pumping systems.
The companies place a premium on innovation and, as a result, invest heavily in research and development to offer a cost-effective product portfolio. There have been recent mergers and acquisitions among the major players, a tactic used by businesses to expand their consumer base. The major Horizontal Pumping Systems Market Key Players during the Horizontal Pumping Systems Market Forecast are as follows:
The Verder Group, a Dutch firm that makes and distributes pumps and laboratory equipment, has announced the purchase of Xylem's Jabsco rotary lobe pump product line. Verder's group offering in the pharmaceutical and food & beverage markets is projected to be strengthened as a result of the acquisition.
For a cash consideration of USD 470 million, IDEX Corporation entered a definitive agreement to buy Airtech Group Inc., US Valve Corporation, and affiliated enterprises from investment funds managed by EagleTree Capital. Positive displacement vacuum pumps, regenerative blowers, compressor systems, and valves are among the designed pressure technologies that Airtech manufactures and creates.
The report on the global horizontal pumping systems (HPS) includes a lot of primary research. To acquire a deeper understanding of the market and industry performance, numerous industry experts and key opinion leaders conduct a complete examination of qualitative and quantitative elements. The report provides a thorough picture of the current market situation, including historical and projected market size in terms of value and volume, technical advancements, macroeconomic considerations, and market controlling factors. The research includes detailed information on the strategies of the industry's leading firms, as well as a thorough examination of the various market segments and geographies. This research gives an analytical portrayal of the Horizontal Pumping Systems sector, as well as current trends and future projections, to identify the most promising investment opportunities. The research includes a complete analysis of the Horizontal Pumping Systems market share as well as information on key drivers, restraints, and opportunities. To highlight the Horizontal Pumping Systems market growth scenario, the existing market is statistically examined. The analysis depicts the market's potency of buyers and providers. The research includes a complete market analysis of Horizontal Pumping Systems based on competitive intensity and how the competition will shape up in the future years.
|Market Size||USD 9,836.90 million|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, End Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Schlumberger Limited (US), General Electric (US), Halliburton (US), Novomet (Russia), Weatherford International Plc (US), National Oilwell Varco, Inc. (US), Canadian Advanced ESP Inc. (Canada), Borets (US), Submersible Pumps, Inc. (US), and HOSS Pump Systems (US)|
|Key Market Opportunities||rising developments in the overall oil & gas industry|
|Key Market Drivers||
Global Horizontal Pumping Systems (HPS) Market is projected to grow at a 3.40% CAGR during the study period
The forecast period for Horizontal Pumping Systems (HPS) market research report is 2022-2030.
Top key players in the industry are Schlumberger Limited (US), General Electric (US), Halliburton (US), Novomet (Russia), Weatherford International Plc (US), National Oilwell Varco, Inc. (US), Canadian Advanced ESP Inc. (Canada), Borets (US), Submersible Pumps, Inc. (US), and HOSS Pump Systems (US), and others.
Global Horizontal Pumping Systems (HPS) market is dominated by North America region.