Pumps and Valves Services Market Scope
A Pump is an electric device used to move fluids and slurries and the valve is a device used to regulate the flow of fluid or slurries. Pumps and valves services include maintenance of pump and valve, repair, validation, selection of pump and valves, replacement and other services. Pumps and valves have been mostly used by the oil and gas industry. Thus, increasing exploration activities for oil and gas is boosting the market. Additionally, increasing requirement of pumps for the refining and transportation of oil and gas and the emergence of new problem-solving methods for pumps and valves have been supplementing the overall growth of the market. However, poor quality of pumps, high operational and replacement cost and continuously fluctuation in the prices of the raw material is hampering the growth of the market. Moreover, increasing longer service contract by established player for pumps & valves service that offers higher discounts and replacements without any delay, the emergence of aftermarket for services and spare parts for pumps and valves and increasing utilization of artificial lifts for the economical production of oil from wells can be considered as an opportunity for the market.
The market study is being classified and major geographies with country level break-up.
The Manufacturers having a strong hold in the market are SPP PUMPS INC., CORTEC LLC, Flowserve, General Electric, KSB SE & Co. KGaA.
SPP PUMPS INC. (United States), CORTEC LLC (United States), Flowserve (United States), General Electric (United States), KSB SE & Co. KGaA (Germany), The Weir Group PLC (United Kingdom), Alfa Laval (Sweden), Eaton Corporation (Ireland), Gates (United Kingdom) and Grundfos (Denmark) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Action Pump Co (United States), LEWA GmbH (Germany), Industria Valvole Dafram S.p.A. (Italy) and Oliver Valves Ltd. (United Kingdom).
AdvanceMarketAnalytics has segmented the market of Global Pumps and Valves Services market by Type, Application and Region.
On the basis of geography, the market of Pumps and Valves Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Installation Type, the sub-segment i.e. Onshore will boost the Pumps and Valves Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User Industry , the sub-segment i.e. Oil and Gas Industry will boost the Pumps and Valves Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Valve Type , the sub-segment i.e. Needle Valve will boost the Pumps and Valves Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Type, the sub-segment i.e. Pumps services will boost the Pumps and Valves Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pump Type, the sub-segment i.e. Centrifugal Pump will boost the Pumps and Valves Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In July 2015, The Weir Group PLC had acquired Delta Industrial Valves Inc.( US-based manufacturer of knife gate valves). This acquisition helps the company to make a strong presence in mining, oil sands, and other industrial markets
In February 2019, ARO has announced of its launch of new pump series named as Expert Series (EXP). It is a 3-inch and non-metallic diaphragm pump that was presented in India at ChemTech 2019. The features and the new application of the pump can create a huge opportunity for the market in the coming years.
- Increasing Longer Service Contract by Established Player for Pumps and Valves Service that Offers Higher Discounts and Replacements without Any Delay
- Increasing Requirement for the Refining and Transportation of Oil and Gas
- Rapidly Growing Exploration Activities for Oil and Gas
- An Emergence of New Problem-Solving Methods for Pumps and Valves
- An Emergence of Aftermarket for Services and Spare Parts for Pumps and Valves
- Increasing Utilization of Artificial Lifts for the Economical Production of Oil from Wells
- Poor Quality of Pumps Have Been Limiting the Growth of the Market
- High operational and Replacement cost for the Pumps and Valves
- Continuously Fluctuation in the Prices of the Raw Material
Key Target AudiencePumps Manufacturers, Valves Manufacturers, Service Providers, Research Organizations, Investors, Government Agencies and Others
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