The global horizontal pump system market is valued at approximately US$420 million in 2019 and is expected to grow at a healthy growth rate of more than 3.1% during the 2020-2027 forecast period.
HPS (Horizontal Surface Pump) includes a surface pump to bring power fluid into the pit, a pump to drive gasoline, diesel or electric motor, and a power fluid storage, processing and distribution system (made of oil or water) for downhole pumps. The increase in oil and gas (E&P) exploration and development and the increasing popularity of industrial applications of horizontal pumping systems will drive market growth. For surface pumping applications in the oil and gas industry, horizontal pumping systems are used to transport gases and fluids. The increase in demand for horizontal pumping systems has been paralleled by factors such as rapid urbanization, population growth, and per capita income, resulting in tremendous growth in the world's mining, agriculture, maritime, municipal, and water and wastewater treatment industries. E.g: . In 2018, US mines produced $82.2 billion worth of mineral raw materials, an increase from 2017. These domestic raw materials and recycled materials are used to process mineral materials such as aluminum, copper and steel worth 766 billion U.S. dollars. This will increase the demand for horizontal pumping systems. However, high manufacturing costs hinder the growth of the market during the 2020-2027 forecast period. In addition, due to the growth of mining, agriculture, and wasteland treatment, the adoption and demand for horizontal pumping systems may increase.
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Regional analysis of the global horizontal pump system market in key regions such as Asia Pacific, North America, Europe, Latin America and other regions of the world is considered. Due to the acceleration of urbanization and the increase of disposable income, North America is the world's leading/important region in terms of market share. However, Europe is also expected to show the highest growth rate/compound annual growth rate during the 2020-2027 forecast period. Factors such as emerging agriculture and marine and water industries will create profitable growth prospects for the horizontal pump system market throughout the Asia-Pacific region.
The main market participants included in this report include: Schlumberger Co., Ltd. General Electric Halliburton Novomet Weatherford International Plc National Oilwell Varco, Inc Canadian Advanced ESP Inc Borets Submersible Pumps, Inc HOSS Pump Systems
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The purpose of the study is to define the market size of different market segments and countries in recent years, and to predict the value in the next eight years. The report aims to incorporate the qualitative and quantitative aspects of the industry into every region and country involved in the study. In addition, the report also provides detailed information on key aspects such as the driving factors and challenges that determine the future growth of the market. In addition, the report should also include the available opportunities for stakeholder investment in the micromarket, as well as a detailed analysis of the competitive landscape and product supply of the major players.
The detailed market segmentation and market segmentation are explained as follows: By type: below 100 horsepower, 100-600 horsepower and above 600 horsepower, according to end use: industrial oil and gas extraction Other regions: North America, Canada, Europe, United Kingdom, Germany, France, Spain, Italy ROE
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Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the world
In addition, the years considered for the study are as follows:
Historical year – 2017, 2018 Base year – 2019 Forecast period – 2020 to 2027
The target audience of the global horizontal pump system market in the market research:
Major consulting companies and consultants, large, medium and small enterprises, venture capitalists, value-added resellers (VAR), third-party knowledge providers, investment bankers
Due to the increasing demand of end users for technological advancement, the global market is expected to witness rapid growth. In addition, increased investment in research and development activities, releases, partnerships and other strategic initiatives will benefit the market. In addition, the authorities’ increasing focus on accelerating urbanization and industrialization is expected to drive market growth.
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The COVID-19 pandemic has affected almost all industries. Market investment has dropped significantly, mainly in the energy and power sectors. According to estimates by the International Energy Agency, investment in the energy and power sectors is expected to decrease by 10% in 2020 compared with statistics before the pandemic. This shows the state of the global market and the severe challenges faced during the pandemic.
The Asia-Pacific market is expected to become a rapidly growing region in the global market. This is due to the increase in demand for energy products and services due to the government's measures to promote urbanization and population growth. In addition, North America is expected to grow rapidly due to the high energy consumption in the region and the technological advancement of the entire industry. Energy consumption in the region has been increasing, mainly in the United States; primary energy consumption is broken down by nuclear power, oil, coal, renewable energy, and natural gas. The oil and gas sector dominates the industry. In the energy structure, oil accounts for about 35% of total consumption, while natural gas accounts for 34%.
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What is the key information extracted from the report?
The report provides extensive information on factors that are estimated to affect market growth and market share during the forecast period. The report provides the current market status and future growth prospects for each geographic region. Provide analysis of the competitive landscape in the market, as well as qualitative and quantitative information. The SWOT analysis is carried out in conjunction with Porter's five forces analysis. In-depth analysis provides insight into the market, highlighting the growth rates and opportunities offered in the business.
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