Horizontal Pumping Systems (HPS) Market Data, Industry Analysis, Size, Share Upto 2030

 

Horizontal Pumping Systems (HPS) Market Overview

Horizontal Pumping Systems (HPS) 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 (E&P) and the increasing use of Horizontal Pumping Systems (HPS) in industrial applications. Moreover, the rising adoption of Horizontal Pumping Systems (HPS) 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 (HPS) during the forecast period. Horizontal Pumping Systems (HPS) 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 (HPS) 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 E&P 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 E&P 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 (HPS) for various operations in E&P. 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

Global Horizontal Pumping Systems (HPS) Market Share, By Region, 2027

·         North America:

·         Europe:

·         Asia-Pacific:

·         Rest of the World (RoW):

Key Companies Profiled

·         Schlumberger Limited (US)

·         General Electric (US)

·         Halliburton (US)

·         Novomet (Russia)

·         Weatherford International Plc (US)

·         National Oilwell Varco,Inc. (US)

·         Canadian Advanced ESP Inc. (Canada)

·         Borets (US)

·         Submersible Pumps,Inc. (US)

·         HOSS Pump Systems (US)