What Are The Key Drivers Of Global Horizontal Pumping Systems Market?

Horizontal Pumping Systems Market Overview

Horizontal Pumping Systems Market is expected to grow USD 9,836.90 million at a CAGR 3.40% during the forecast period.

Market Highlights

Global Horizontal Pumping Systems (HPS) Market is projected to grow at a high rate during the study period due to the rise in oil and gas exploration and production (EP) and the increasing use of horizontal pumping systems in industrial applications. Moreover, the rising adoption of horizontal pumping systems in developing countries is expected to present a growth opportunity for the global horizontal pumping systems (HPS) market.

The growing demand for fluid handling solutions in the oil gas, mining, and industrial verticals is expected to drive the market for horizontal pumping systems during the forecast period. Horizontal pumping systems are used for surface pumping applications in the oil gas industry for the movement of gases and fluids. These pumps are used in various operations in upstream, midstream, and downstream activities in the oil gas industry, such as pipeline booster, water injection, CO2 injection, jet pumping, crude oil and gas transfer, reservoir pressure maintenance, salt cavern leaching, and amine circulation systems.

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The rising developments in the overall oil gas industry are expected to grow exponentially in the coming years, resulting in a surge in demand for horizontal pumping systems in the oil gas industry. Many oil and gas companies such as Schlumberger Limited (US), Saudi Aramco (Saudi Arabia), and Halliburton (US) are focusing on the EP of oil and gas across the world. For instance, in August 2019, Halliburton (US) signed a contract with Woodside Energy (Australia) for drilling and completion services of offshore SNE Field, located in Senegal, Africa, for the EP of oil and gas. In February 2020, Saudi Aramco (Saudi Arabia) announced plans to invest USD 110 billion in the Al-Jafoura unconventional gas field for the production of gas. Such developments are expected to drive the demand for horizontal pumping systems for various operations in EP. Thus, the increase in oil and gas exploration and production is expected to drive the growth of the global horizontal pumping systems (HPS) market during the forecast period.

Market Segmentation

By Type

Under 100 HP
100-600 HP
Above 600 HP

By End Use

Industrial
Oil Natural Gas
Mining and Others

Scope of the Report

This study provides an overview of the global horizontal pumping systems (HPS) market, tracking two market segments across five geographic regions. The report studies key players, providing a four-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific, the Middle East Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global horizontal pumping systems (HPS) market by type, end-use, and region.

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Global Horizontal Pumping Systems Market Share, By Region, 2027