Huge Demand of Global Mud Pumps Market during 2021-2026
In the Oil & Gas Industry, Mud Pumps find applications: Onshore Drilling Rigs and Offshore Drilling Rigs. The onshore segment will lead the global mud pumps market and is expected to account for absolute dollar opportunity of US$ 282 Mn by the end of the forecast period.
Mud pumps or Drilling mud pumps are a reciprocating piston or plunger pump used in onshore and offshore oil field drilling rigs. Mud pumps are used to circulate the drilling fluid at high pressure (about 7,500 psi) in the down string and carry back the sand and rock produced by drilling bits in the process of crushing. Mud Pumps ensure that the drilling fluid is circulated to the bottom of the well at constant high pressure to clear out the drilling debris. Mud pumps are also referred to as the Heart of a Drilling Rig. Mud pumps are an essential equipment used during drilling and thus, the global market for mud pumps is expected to witness significant growth during the forecast period of 2018-2026 and will reach a market value of US$ 1.08 Bn by 2026.
Key Players:
The report has profiled some of the Important players prevalent in the global like – National Oilwell Varco, Gardner Denver, Schlumberger Limited (Cameron International), WeatherFord International plc, Flowserve Corporation, CNPC Baoji Oilfield Machinery Co., Ltd., Honghua Group Ltd., MHWirthTrevi Group (Drillmec), Bentec GmbH Drilling & Oilfield Systems and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Mud Pumps.
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Based on Drive Type, mud pumps are categorized into Electric or Fuel Engine Driven mud pumps. Fuel Engine driven mud pumps are more commonly used due to their better suitability for remote locations. The fuel engine segment in the mud pumps market is estimated to witness significant growth rate over the forecast period. The electric segment of mud pumps is estimated to witness decent growth due to various technological advantages, such as reduced mechanical vibrations, increased reliability and increased efficiency.
In 2018, North America is estimated to be the most lucrative region in the global Mud Pumps market and is likely to account for more than 54% share in the global absolute $ opportunity in the Mud Pumps market share. Furthermore, growing drilling activities for increasing production of oil & gas in China will create new opportunities in the Mud Pumps market. Europe continues to be a strong market for Mud Pumps and moderate growth is being witnessed in the South East Asia Pacific region. In Middle East & Africa region, oilfield drilling activities will increase due to increasing demand for oil & gas.
Based on product type, the mud pumps can be classified into duplex, triplex and quintuplex. Duplex mud pumps are generally double acting pumps and use two pistons to circulate the drilling fluid. Duplex mud pumps are not common nowadays because of the better alternatives available in the market. Triplex mud pumps are the most commonly used option in drilling rigs. In triplex mud pumps, three pistons are used to circulate the drilling fluid. The triplex mud pumps segment will continue to dominate the Mud Pumps market in terms of global market share and is expected to account for more than 74% share of the total absolute dollar opportunity in the mud pumps market by the end of 2026.
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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Mud Pumps Market Manufacturers
Mud Pumps Market Distributors/Traders/Wholesalers
Mud Pumps Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Major Highlights of the Mud Pumps Market Report:
- The Mud Pumps Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes the Mud Pumps Market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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