The oil price crash has sparked economic turmoil and has shaken the entire oil and gas industry value chain. Pump manufacturers are definitely feeling the effects. This research service analyzes current and future trends in the global pumps market in the oil and gas industry, based on usage in the upstream, midstream, and downstream sectors. The market is segmented into centrifugal and positive displacement pumps. Market drivers and restraints and their impact over the 2016 to 2020 forecast period are discussed in detail. The study analyzes the competitive structure and discusses the post-recession impact on end users in North America, Latin America, Europe and Russia, the Middle East and Africa, and Asia-Pacific. The base year is 2015.
Key Questions This Study Will Answer
- Is the market growing? How long will it continue to grow, and at what rate?
- How will the oil price decline affect the market?
- Where are the pockets of opportunities in the market?
- What technology trends must pump manufacturers be cognizant of?
- How will the Industrial Internet of Things (IIoT) impact the market?
- Are the products/services offered today meeting customer needs, or is additional development needed?