New York, December 2021: Axiom Market Research & Consulting™ added a report on Horizontal surface pump market which includes study on application, component, end-users and geography. Horizontal surface pump market was projected to grow at a CAGR of 3.60% for the forecast period 2022 to 2028. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the Horizontal surface pump market.
The factors such as growing oil exploration in almost every part of the globe, is likely to drive the market. As the industrialization is growing at a rapid pace in the country, the demand for the oil and gas has been increased in the recent years, which is why regulatory bodies in various parts of the globe are focusing upon new sources of oil and gas, and for the extraction of these, the demand for oil and gas has been increased.
The report analyses the Horizontal surface pump market based on application, component, End-users and geography. Based on the application, the Horizontal surface pump market is segmented into water disposable & injection, crude oil transfer, liquid co2 pumping, and lean amine pumping. By the component, the Horizontal surface pump is segmented into Pumps, Motor, Skid, Seal, and others. On the basis of end-users, the market is consisting of oil & gas, mining, industrial, chemical, and others. Geographically, the horizontal surface pump market is studied for the regions including North America, Europe, Asia Pacific, and Rest of the World.
The horizontal surface pumps are known to be advanced pumps which contain one or more impellers that transfer liquid by rotating and drawing the liquid into the pump's suction end, which forces the liquid out of the discharge end which makes it most suitable for the crude oil transfer.
The growth in the motor component segment is likely to growing at a rapid pace, as the motors are known to be the most crucial components. These motors run at a constant speed which can be calculated in hertz and the speed can be determined by number of pairs on the magnetic poles that it has.
For the horizontal surface pumps, oil & industry is expected to hold the largest share in the market. In most of the part, as the need for fuel has been increased with rapid industrialization and urbanization, the projects for new sources of oil & gas has been also increased, which is why there has been a great utility of horizontal surface pumps to extract the oil.
North America is likely to continue to hold the highest market share during the forecast period. Countries such as U.S. and Canada are expected to dominate the market in the coming years. U.S. is known to be one of the most crucial in the oil & gas exploration industry and the country is known to be the home to many of the key players, and they are helping the industry to grow further in the market.
The key players in the Horizontal surface pump market are Borets (United Arab Emirates), Canadian Advanced ESP (Canada), Baker Hughes (United States), Dickow Pump Company (United States),, National Oilwell Varco (United States), Novomet Group (Russia), Submersible Pumps, Inc (SPI) (United States), Schlumberger (United States), Summit ESP (United States), Weatherford (United States), CNP Pump (India), Valiant ALS (United States), Kirsolar Brother (India) and Pump Works (United States) among other.
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