Multiphase Pumps Market Size, Share, Growth, and Industry Growth by Type (Twin screw multiphase pumps, Helico- axial multiphase pumps and Others) By Application (Onshore and Offshore), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Multiphase Pumps Market REPORT OVERVIEW

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The global multiphase pumps market size was USD 255.1 Million in 2022 and market is projected to touch USD 409.6 Million by 2031, at a CAGR of 5.4% from 2031.

Fluids of various sorts, often oil and gas, are moved via pipelines using multiphase pumps. Water and other liquids may be moved with them as well. In order to move these fluids more effectively and affordably, businesses may benefit from multiphase pumps, which are crucial.

When moving liquid in two directions at once, twin screw multiphase pumps are employed. It comprises of two interlocked screws, one of which is propelled by an electric motor and the other by mechanical devices such as gears or chains. The primary benefit of utilizing this pump is that it is simple to use with liquids of all viscosities, including high and low viscosities.

Fluid is transferred using both helical and axial flow in helico-axial multiphase pumps, a type of axial flow multiphase pump. The main benefit of utilizing helico-axial multiphase pumps is that they can be used to move fluids with high viscosities in both directions, as opposed to other traditional single-phase or two-phase pumps that can only do so.

COVID-19 Impact: Disrupted Supply Chain to Hamper the Market Demands

Covid badly affected the multiphase pumps market due to supply chain disruptions and shortage in raw materials was also observed. Shortage of labor and strict protocols such as lockdowns and restrictions on movement created roadblocks, disruptions in end-use sectors of the product led to lower demand.

LATEST TRENDS

"Growing Investments in R&D and Innovation to Augment the Market"

Over 60% of the total revenue share in the market for multiphase pumps was accounted for by onshore applications. Due to rising demand for crude oil and natural gas from different sectors, including the energy, petrochemical, and civil construction industries, the segment is anticipated to maintain its dominance during the projection period. Demand will also be further fueled by sustained expansion in onshore production across key economies including Saudi Arabia, Iran, Argentina, and the UAE. Over the next eight years, it is anticipated that the increasing relevance of these liquids in a variety of sectors, including automotive lubricants, will positively affect industry growth.

Moreover, growing investments from businesses like Siemens Gamesa and others will offer up new opportunities for industry expansion during this time, which may be efficiently leveraged through efficient R&D and innovation, propelling overall growth throughout this projection period 8 years in the future.

Multiphase Pumps Market Segmentation

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• By Type Analysis

By type, market is segmented into twin screw multiphase pumps, helico -axial multiphase pumps and others. The twin screw multiphase pumps segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is onshore and offshore. The onshore segment will lead the global share through 2031.

DRIVING FACTORS

"Rise in Infrastructure Development Investments to Drive the Market"

Multiphase pumps are becoming more and more in demand, both from the oil and gas sector and from the chemical and petrochemical sectors, which need them to handle dangerous fluids and produce hydrocarbons efficiently. The requirement for multiphase pumps in water and wastewater treatment facilities is also anticipated to be driven by rising infrastructure development investments.

"Technical Developments Leading to Creation of More Compact and Energy- Efficient Multiphase Pumps to Boost the Market"

Systems for multiphase pumping must be dependable and high-performing due to the emergence of novel applications including micropumps, fuel cells, and medical devices. The market is also being driven by technical developments that have resulted in the creation of more compact and energy-efficient multiphase pumps.

RESTRAINING FACTORS

"Risk of Carbon Emission Could Impact Market Demand To Some Extent "

The primary market restraint is the shift toward greener energy sources in an effort to reduce carbon emissions. This trend will undoubtedly reduce demand for oil and gas, which will negatively affect the expansion of the global mud pumps market.

Multiphase Pumps Market REGIONAL INSIGHTS

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"Asia- Pacific’s Global Multiphase Pump Market Share to Grow Rapidly within the Forecast Period"

From 2022 to 2030, the market that is expected to expand the quickest is Asia Pacific. The expansion is explained by the rising offshore operations in this area and the rising demand for oil and gas in developing nations like China and India. Further driving the market will be the growing number of projects, such as LNG terminals and other petrochemical facilities. A low rise is anticipated in North America during the projection period as a result of the region's strict environmental impact regulatory framework and the high cost of Multiphase Pumps (MP). Nevertheless, it is anticipated that throughout the projected period, regional demand for MP would increase due to technical developments such enhanced oil recovery (EOR) employing multistage pumps.

Nevertheless, it is anticipated that throughout the projected period, regional demand for MP would increase due to technical developments such enhanced oil recovery (EOR) employing multistage pumps. In addition, the shale gas boom in North America has prompted major players like Schlumberger Limited and Halliburton Company to adopt helical-axial pump technology, which will favorably impact the market's growth over the coming years.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• ITT Bornemann (Germany)
• Leistritz (Germany)
• Sulzer (Switzerland)
• Flowserve (U.S.)
• CIRCOR (U.S.)
• Schlumberger (U.S.)
• NOV (U.S.)
• Netzsch GmbH (Germany)
• HMS (U.S.)
• Seepex GmbH (Germany)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.