Rodless Pumps Market: Overview
Globaldemand for energy has been increasing rapidly in the last few years. This hasled to the rise in oil and gas exploration and production activities. Rodlesspumps are required for the artificial lift process in oil and gas productionactivities. Discoveries of unconventional resources has increased the demandfor rodless pumps. Increase in energy exploration and production is boostingthe demand for rodless pumps. Rodless pumps helps in saving operation time andimprove the overall efficiency of the wellbore. Rise in technologicaladvancements help reduce manufacturing and service costs of rodless pumps.
Rodless Pumps Market: Key Segments
The rodlesspumps market can be segmented based on type, application, and region.In terms of type, the rodless pumps market can be classified into hydraulicsubmersible pump and electric submersible pump. Rodless pumps are used indrilling rigs in offshore and onshore areas. The rodless pumps market createseveral opportunities. Mature oilfields are increasing rapidly whereinstallation of rodless pumps proves beneficial. Additionally, rodless pumpscan be customized in terms of design, integration, and installation as per thecustomer needs to produce oil and gas. Rodless pumps face severe wear and teardue to dog leg severity, water and sand cut, deviation of wells, which islikely to restrain the rodless pumps market. The oil and gas industry has beenexperiencing weak demand and low prices of crude oil from the last few years.Moreover, it is difficult for Oil & Gas companies to plan and makestrategic decisions for commencing oil and gas production owing to thefluctuating crude oil prices globally. Installation of real time monitoringsystem helps in mitigating the risks of corrosion in the rodless pumps.
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Rodless Pumps Market: Regional Outlook
In termsof geography, North America dominates the global rodless pumps market. This canbe ascribed to the increase in exploration & production activities inoffshore areas in the U.S. Discovery of shale oil in North Dakota, U.S., booststhe demand for rodless pumps. The rodless pumps market has been expanding incountries in Asia Pacific such as India, China, and Japan due to the rise inoffshore oil and gas production activities. The rodless pumps market isprojected to expand in countries such as the U.K., Germany, France, and Norwayin Europe due to the increase in oil and gas drilling activities in the JohanSverdrup field in the North Sea and improvements in offshore drillingactivities. Demand for rodless pumps is expected to rise in countries such asBrazil and Mexico in Latin America owing to rapid urbanization and increase inoffshore oil and gas exploration and production activities in the Gulf ofMexico. Demand for rodless pumps in countries in Middle East & Africa islikely to rise due to the increase in number of offshore oil and gasexploration and production activities. Moreover, Saudi Arabia, Kuwait, andQatar have been rapidly drilling and producing oil and gas due to the increasein global demand for energy. Deep-water discoveries in Africa are anticipatedto propel the demand for rodless pumps in the sub-region.
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Rodless Pumps Market: Key Players
Key globalmarket players operating in the global rodless pumps market include GE,Schlumberger Ltd, Weatherford International, HANSEN Downhole Pump Solutions,Halliburton, and National Oilwell Varco (NOV).
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