The oil & gas pumps market has witnessed sluggish growth, with global demand surpassing 9,000,000 units by the end of 2018, rising demand for oil and gas is resulting in the growing demand for equipment such as oil & gas pumps. End-users in oil and gas industries are demanding efficient oil & gas pumps to ensure smooth operation and meet stringent emission standards.
End-users of oil & gas pumps are using centrifugal pumps on a large scale owing to its low product and maintenance cost, and better load and pressure handling capabilities. The demand for centrifugal pumps is healthy in the upstream oil & gas industry as the part of multiphase pumping application, according to a latest report by Fact.MR.
As per the report, the demand for submersible pumps is also likely to grow in the near future. Electric submersible pumps are being used on a large scale as water and oil separators. The centrifugal pumps are also expected to witness increasing demand for crude oil transportation.
