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The report offers actionable and valuable market insights of Oil Refining Pumps. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Oil Refining Pumps Market across various industries and regions.
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The top 6 players in the oil refining pumps market account for nearly 45% share. With diverse product portfolio, leading players in oil refining pumps market are planning to consolidate their position globally.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Oil Refining Pumps market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Oil Refining Pumps
This newly published and insightful report sheds light on Market Insights of Oil Refining Pumps, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Oil Refining Pumps Market.
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Market Segmentation
The oil refining pumps market is segmented on the basis capacity, product type, application, and pumps characteristics.
These major segments are further divided into sub-segments to offer clear picture on the oil refining pumps market.
Key developments in oil refining pumps market by major players
- Xylem recently signed a MoU with Ethiopia’s Ministry of water, irrigation, and energy to improve water-security standards by providing additional sewage coverage and water-system optimization services.
- Grundfos is planning to open its third pump production unit in India by 2020. Meanwhile, the company has already opened a new facility in Florida to serve water and wastewater industry.
- KSB has added new submersible borehole pumps to its product portfolio. The newly launched pumps are capable of handling flow rate of up to 5000 m³ per hour.
- Alfa Laval has won two orders to supply pumping systems for oil platforms in North Sea. The combined value of the orders is approximately SEK 175 million. The order includes offshore pumping system for injection of seawater in production wells and for firewater.
- Gardner Denver Holdings Inc. has acquired DV systems. The acquisition will support the company to expand in Canadian market and leverage the company’s operational, commercial and R&D capabilities
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APAC to Continue Strong Position in Oil Refining Pumps Market
The Fact.MR study projects that APAC continues to register significant growth in the oil refining pumps market and is likely to account for over 40% of total demand by 2018 end. The positive outlook in the region can be attributed to the growing demand for diesel and gasoline in emerging nations like India and China.
The upgradation of existing oil refineries and robust investment in the construction of new oil refineries is fueling the growth in the oil refining pumps market in the region. Rising oil demand and faced with strict emission regulations, India is also moving towards development of new and modern refineries.
According to the International Energy Agency (IEA’s) latest World Outlook Projection, India’s refining capacity is likely to grow by two-thirds in the next 25 years. This is expected to make India world’s third largest refining center by 2040, following the US and China.
Major oil companies in Southeast Asia are also investing in increasing their refining capacity. Malaysia, Indonesia, Vietnam, and Thailand are likely to see growth in new refining capacity in the coming years. The development of new and advanced oil refineries in APAC is expected to create growth opportunities for oil refining pumps manufacturers.
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More Valuable Insights on Oil Refining Pumps Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Oil Refining Pumps, Sales and Demand of Oil Refining Pumps, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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