Persistence Market Research
Mud pumps are used on drilling rigs for circulating muds in the process of drilling oil wells. These are also known as the displacement pumps or reciprocating pumps. Mud pumps segmentation varies according to the number of plungers and pistons. Triplex mud pumps and duplex mud pumps are most commonly used mud pumps for drilling applications. When required, high pump pressure up to 7500 PSI triplex pumps are most suitable for such applications. Mud pumps also varies on the basis of input horsepower ranges which ranges from 190 to 1790 HP or from 142 to 1335 kW. With the technological advancement, triplex mud pumps is expected to replace the duplex mud pumps over the forecast period. Developing countries are still opting for the duplex mud pumps as they are comparatively cost effective. Mud pumps are source driven, characterized on the basis of electricity and diesel driven. Diesel driven mud pumps are used for remote and isolated applications, during the time of electricity shortage. Availability of mud pumps in terms of operational requirement is expected to drive the mud pumps market growth.
Mud Pumps Market: Market Dynamics
Reason behind the growing demand of mud pumps is because of its properties of easy installation, cleaning, handling and cost effectiveness. Processing of oil wells and discharging muds needs high pressure pumps and high efficiency, mud pumps are easy to operate and discharge mud smoothly. Such factors are expected to drive the mud pumps market growth.
Additionally, its strong structure and flexible characteristics upsurges the operating reliability of these mud pumps in the oil and gas industry. One of the most important advantage of the mud pumps is that these pumps are able to move large volume of mud at the advanced pressure which is required for modern deep hole drilling. With the recent growth in the Oil & Gas sector in developing countries, the demand for mud pumps is expected to witness a substantial upsurge during the forecast period.
Mud Pumps Market: Segmentation
The mud pumps market can be segmented on the basis of product type and end use sector
On the basis of product type, mud pumps market can be segmented as
Duplex Mud pumps Triplex Mud pumps Quintuplex mud pumps
On the basis of end use sector mud pumps market can be segmented as
Oil Drilling Industry Building Industry
Mud Pumps Market: Regional Outlook
The Asia Pacific region is expected to hold major share for the mud pumps market. China and India both are estimated to gain high traction in mud pumps market over the forecast period. With growing number of oil wells in the Asia Pacific region, demand for mud pumps is expected to escalate. With the growing manufacturing sector and industrialization in the Asia Pacific countries, demand for mud pumps are estimated to show positive growth. Government initiatives to expand manufacturing network in the countries is also expected to boost the mud pumps market growth. North America, followed by Europe is also expected to account for large share in the mud pumps market. The growing crude oil production in the US and the increasing oil wells in the country also create high growth opportunity for mud pumps market in the region. The countries in Middle East such as Saudi Arabia, Qatar, UAE and others are some of the prominent countries for oil and gas production. With growing production of oil and gas in the Middle East countries, the demand for mud pumps is also expected to upsurge over the coming years. Furthermore, the mud pumps market in Latin America region is expected to show moderate growth over the forecast period.
Mud Pumps Market: Key Market Players
Examples of some of the market participants in the global mud pumps market identified across the value chain include
Grundfos Group Xylem Inc. Halliburton The General Electric company Sulzer AG
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