Mud Pumps Market Forecasts to 2028 – Global Analysis By Driven System (Fuel Engine, Electric), Type (Six Cylinder, Three Cylinder, Double Cylinder), Application (Offshore, Onshore/On Land, Drilling Equipment), and By Geography
According to Stratistics MRC, the Global Mud Pumps Market is accounted for $854.82 million in 2020 and is expected to reach $1,414.73 million by 2028 growing at a CAGR of 6.5% during the forecast period. Some of the key factors propelling the market growth include rising exploration activities, growth in R&D activities for improving shelf life of the pumps, increase in the directional & horizontal petroleum drilling activities across the world, and quickly expanding mining industry. However, high cost of drilling and environmental risks may hinder the market growth.
The mud pump is also known as a drilling pump that is used for moving & circulating drilling fluids in onshore & offshore oil & gas and mining industries. It consists of piston or nozzle tube system for transferring fluids at significantly lofty pressures. It can handle pressure up to 7500 psi and flow rate varying from 100 to 1300 gallons/minute. These pumps are bulky & robust as they are operated in rugged and hostile environments.
By product, the triplex pumps segment is expected to grow at the significant rate during the forecast period, due to its advantages, most frequently used option in drilling rigs, smaller weight offering analogous effectiveness, and ongoing substitution of duplex pumps with triplex pumps.
On the basis of geography, Asia Pacific is expected to be the significant-growing market during the forecast period, due to the rapid industrialization & urbanization and increase in number of oil wells in the region.
Some of the key players in Mud Pumps Market include Sulzer AG, Weir Group, Weatherford International plc., Halliburton, Gardner Denver Inc., Schlumberger Limited, KSB Group, Xylem Inc., National Oil Varco Inc., Ohara Corporation, LEO Group, Flowserve Corporation, Honghua Group Limited, Kirloskar Ebara Pumps Limited, General Electric Company, Mud King Products, Inc., Metso, and Tsurumi Pump.
Driven Systems Covered:
• Fuel Engine
• Centrifugal Pumps
• Positive Displacement Pumps
• Quintuplex Pumps
• Hex Pumps
• Double Acting Pumps
• Single Acting Pumps
• Six Cylinder
• Three Cylinder
• Double Cylinder
• Power End
• Fluid End
• Onshore/On Land
• Drilling Equipment
End Users Covered:
• Construction (Building Industry)
• Oil and Gas (Oil Drilling Industry)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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