For this study, the global Mud Pumps Market is segmented by type (duplex pumps, triplex pumps, and others), by component (fluid end and power end), by application (oil and gas industry, and building industry), and by Regions – Forecast till 2023.
Flowserve (U.S.), Grundfos (Denmark), Halliburton (U.S.), Sulzer (Switzerland), KSB Group (Germany), Ebara Corporation (Japan), Weir Group (U.K), and SRS Crisafulli, Inc (U.S.). Tsurumi Pump (Japan), Shijiazhuang Industrial Pump Factory Co. Ltd (China), Excellence Pump Industry Co.,Ltd (China), Kirloskar Ebara Pumps Limited (India), Xylem Inc (U.S.), and Goulds Pumps (U.S.) are among others.
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The global mud pump market is predicted to garner major growth in the coming years. According to the report published by Market Research Future (MRFR), the global mud pump market is estimated to showcase more than 8% CAGR during the forecast period. Factors contributing to such growth include an increased demand for directional and horizontal drilling, a number of new oil discoveries, and high-pressure handling capabilities. In addition, a skyrocketed rise in the demand for energy across the globe is also significantly driving the market for mud pumps.
Market Segments Analysis:
The global mud pump market has been segmented based on different aspects for better understanding. The market has been segmented on the basis of type, component, application, and region. Based on type, the market has been segmented into duplex pumps and triplex pumps. Triplex pumps are projected to showcase exponential rise in demand because they weigh 30% lesser while offering similar efficiency, smoother discharge, lower operating costs, and an ability to displace large volumes of mud at a higher pressure as compared to their duplex counterparts.
On the basis of component, the market has been bifurcated into fluid end and power end. Based upon application, the market has been segmented into oil & gas industry and building industry. The segment of oil & gas industry is predicted to drive the global mud pump market significantly. Maturation of the oil & gas industry, reasonable costs of operation are some factors contributing to such growth.
The global mud pump market has been regionally segmented into North America, Asia Pacific (APAC), Europe, and Rest of the World (RoW). North America is projected to showcase domination in the mud pump market during the forecast period. Factors attributing to such growth include increasing oil & gas exploration activities, stable economic conditions, and consistent oil well drilling rig sales in the region. Furthermore, a well-established production sector in the region, lucrative growth in the oil and gas industry, rise in the hydrocarbon consumption are also predicted to drive sizeable growth to the mud pump market.
Asia Pacific is estimated to gain traction in the latter half of the forecast period due to anticipated growth in the oil & gas industry and an increasing number of wells in the region. China and India are projected to be major contributors to the mud pump market due to rapid industrialization and urbanization in the countries. Governments in India and China are working on the enhancement of their production capacities for reduction of import bills, subsequently causing lucrative growth in the mud pump market.
TABLE OF CONTENTS:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 RESEARCH OBJECTIVES
2.2.2 ASSUMPTIONS & LIMITATIONS
2.3 MARKETS STRUCTURE
3 MARKET RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 SECONDARY RESEARCH
3.3 PRIMARY RESEARCH
3.4 FORECAST MODEL
4 MARKET LANDSCAPE
4.1 FIVE FORCES ANALYSIS
4.1.1 THREAT OF NEW ENTRANTS
4.1.2 BARGAINING POWER OF BUYERS
4.1.3 BARGAINING POWER OF SUPPLIERS
4.1.4 THREAT OF SUBSTITUTES
4.1.5 SEGMENT RIVALRY
4.2 VALUE CHAIN/SUPPLY CHAIN OF GLOBAL MUD PUMPS MARKET
5 INDUSTRY OVERVIEW OF GLOBAL MUD PUMPS MARKET
5.2 GROWTH DRIVERS
5.3 IMPACT ANALYSIS
5.4 MARKET CHALLENGES
LIST OF TABLES:
TABLE 1 GLOBAL MUD PUMPS MARKET: BY REGION, 2017-2023
TABLE 2 NORTH AMERICA MUD PUMPS MARKET: BY COUNTRY, 2017-2023
TABLE 3 EUROPE MUD PUMPS MARKET: BY COUNTRY, 2017-2023
TABLE 4 ASIA PACIFIC MUD PUMPS MARKET: BY COUNTRY, 2017-2023
TABLE 5 MIDDLE EAST & AFRICA MUD PUMPS MARKET: BY COUNTRY, 2017-2023
TABLE 6 LATIN AMERICA MUD PUMPS MARKET: BY COUNTRY, 2017-2023
LIST OF FIGURES:
FIGURE 1 GLOBAL MUD PUMPS MARKET SEGMENTATION
FIGURE 2 FORECAST METHODOLOGY
FIGURE 3 FIVE FORCES ANALYSIS OF GLOBAL MUD PUMPS MARKET
FIGURE 4 VALUE CHAIN OF GLOBAL MUD PUMPS MARKET
FIGURE 5 SHARE OF GLOBAL MUD PUMPS MARKET IN 2017, BY COUNTRY (IN %)
FIGURE 6 GLOBAL MUD PUMPS MARKET, 2017-2023,
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