The global oil refining pumps market is predicted to be worth USD 6.2 billion in 2022, rising to USD 8.6 billion by 2032, with a CAGR of 3.3 percent between 2022 and 2032.
According to a recent Fact.MR analysis on the oil refining pumps market, global demand for oil refining pumps is predicted to exceed 3 million tonnes by the end of 2018. The demand for oil refining pumps is being driven by rising oil and gas output, as well as a rise in petroleum-based power generation. Oil supply from Russia, the Middle East, and the United States has increased dramatically, offsetting a drop in oil production in Iran and Venezuela.
Global Oil Refining Pumps Market by Category
By Product Type :
- Centrifugal Pumps
- Single Stage
- Axial and Mixed
- Seal less and Circular
- Reciprocating Pumps
- Rotary Pumps
- Progressive Cavity Pumps
- Centrifugal Pumps
By Capacity :
- Small (Up to 500 gpm)
- Medium (500-1,000 gpm)
- High (More than 1,000 gpm)
By Application :
- Refinery Process Oil Refining Pumps
- Water Circulating Oil Refining Pumps
- Special Purpose Oil Refining Pumps
- Water/Wastewater Oil Refining Pumps
Top Oil Refining Pumps Companies in the Competitive Landscape
Because there are so many local and regional competitors, the worldwide oil refining pumps market is extremely fragmented and competitive. Key players use a variety of marketing techniques, including mergers & acquisitions, expansions, collaborations, and partnerships.
Leading organisations also use new product creation as a strategic way to expand their market presence among consumers. As a result of these tactics, sophisticated oil refining pumps have been implemented.
In a recently published analysis, Fact.MR provides thorough information about price points of leading manufacturers of oil refining pumps positioned across geographies, sales growth, production capacity, and speculative technical advancement.
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