(EnergyIndustry.Net, April 16, 2018 ) The global oil and gas industry remains volatile with high fluctuations in crude oil prices. This is directly impacting the demand for pumps from the industry, especially through depressed upstream investments in the current scenario of low crude oil prices. The current state of the pumps market in the oil and gas industry can be considered as significantly dormant. The sluggish nature of the market can be attributed to the global crude oil price scenario.
Publisher's analysts forecast the global pumps market for the oil and gas industry to grow at a CAGR of 3.79% during the period 2016-2020.
the expansion of natural gas and crude oil pipelines to be one of the major factors that will have a positive impact on the growth of this market in the coming years. Though the reduction in crude oil prices will affect the growth of the oil and gas industry, the identification of new avenues for the exploration of natural gas and crude oil will lead to the construction of new pump stations that consist of equipment such as pumps, connecting pipes and valves, an electrical substation, electric motors, and electrical equipment shelters, in turn, fueling market growth.
Market driver -Need for improved and enhanced oil recovery
Market challenge -Investment justification in era of low oil prices
Market trend -Emergence of micro-grid technology
Fundamentals of Table of Content:
PART 01: Executive summary PART 02: Scope of the report PART 03: Market research methodology PART 04: Introduction PART 05: Global construction market PART 06: Market drivers PART 07: Market trends PART 08: Global AEC market PART 09: Market segmentation by product PART 10: Geographical segmentation PART 11: Market challenges PART 12: Impact of drivers and challenges PART 13: Five forces model PART 14: Key vendor analysis PART 15: Key vendor profiles