Global Multi-Phase Production Pump Market Report 2018 provides actionable intelligence on factors that have been driving demand; key trends that are impacting the Multi-Phase Production Pump market; challenges that affect the market dynamics along with the market size, a SWOT analysis of the key vendors, and various segments.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- Sulzer Ltd
- CIRCOR International
- Leistritz Advanced Technologies Corp.
- Petrofac Limited
- National Oilwell Varco
- ITT BORNEMANN GmbH
- TechnipFMC plc
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Description of Multi-Phase Production Pump Market: The crude oil price touched USD 65 per barrel mark in March 2018 and is expected to remain above USD 60 throughout the year. In such a regime the oil & gas industry is expected to focus on marginal oilfields as they contributed to around 30 to 40% of the global crude oil production in the past few years. Multi-phase production pump (MPPP) has been deployed in several production wells in the past, to increase the production from the well. The marginal oilfields in the North Sea, Latin America, and the United States are expected to be the promising market for the multi-phase production pump.
Increase in Offshore Oil & Gas Activity is Driving the Market
The offshore oil & gas industry has been using multi-phase production pumps and reducing the operation cost. The offshore market is expected to rebound in the near future due to increased activity in the Golden Triangle – Gulf of Mexico, Brazil, and West Africa. Chevron’s Ballymore and Shell’s giant Whale discovery in the Gulf of Mexico represents the sign of regional deepwater revival after a long time without any major discovery. The discovery of Egypt’s mammoth offshore natural gas field “Zohr” has drawn significant attention in the industry. The rebound in offshore oil & gas industry is expected to drive the demand for multi-phase production pumps.
Latin America is Expected to Have Significant Share in the Market
Latin America has a significant amount of marginal fields, which are expected to witness invest during the forecast period. In 2017, Brazil gave the contract for nine marginal fields. The contract is for 30 years. Pemex a state-owned Mexican oil & gas company, which is a major player in Mexican oil & gas industry, has witnessed a sharp drop in production. The company is planning to boost its production from seven mature fields by 2020. Countries in other regions, such as Nigeria the government has set the guidelines for bidding marginal oilfields that are expected to take place in the near future in 2018. Around 25 marginal fields are expected to be placed for bidding. It is expected that around USD 200 to 300 million to be witnessed in the bidding. The release of the marginal field for exploitation across the various regions is expected to drive the market.
UK Investing in Marginal Fields Technology Support the Market
The UK’s crude oil reserve had declined to 2.5 thousand million barrels in 2016, compared to 3.1 thousand million barrels in 2011. The country accounts for one of the largest marginal fields in the world, holding around 1 billion barrels of crude oil. There are around 600 marginal fields in the world, majority of which are located in the UK offshore. Aberdeen-based Oil & Gas Technology Centre (OGTC), under its initiative Tieback of the Future, is making significant strides to make the marginal fields economically viable. The country is expected to witness several production wells in the marginal fields in the later part of the forecast period and drive the MPPP market.
Multi-Phase Production Pump Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Multi-Phase Production Pump Market players in detail. Multi-Phase Production Pump Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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The Global demand for Multi-Phase Production Pump Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2018 and 2025 compared to a few years ago, signifying the rapid pace of change.
Multi-Phase Production Pump Market Historic Data (2012-2018):
- Industry Trends: Status and Outlook.
- Competitive Landscape: By Manufacturers, Development Trends.
- Product Revenue for Top Players: Market Share, Growth Rate, Current Market Situation Analysis.
- Market Segment: By Types, By Applications, By Regions/ Geography.
- Sales Revenue: Market Share, Growth Rate, Current Market Analysis.
Multi-Phase Production Pump Market Forecast (2018-2023):
- Market Size Forecast: Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
- Key Data (Revenue): Market Size, Market Share, Growth Rate, Growth, Product Sales Price.
Multi-Phase Production Pump Market Influencing Factors:
- Market Environment: Government Policies, Technological Changes, Market Risks.
- Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.
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