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Worldwide Oil & Gas Pump Industry to 2026 - Increasing Investments in the Sector Will Drive the Market - ResearchAndMarkets.com
March 17, 2021 GMT
DUBLIN (BUSINESS WIRE) Mar 17, 2021
The global oil & gas pumps market is evaluated at US$5.839 billion for the year 2020 growing at a CAGR of 6.84% reaching the market size of US$8.684 billion by the year 2026.
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An Oil & gas pump is an essential part of a refinery. These types of pumps are required for the transfer of oil and other liquids from one location to another. The pump helps the liquid to accelerate while transferring between different locations. The market for oil & gas pumps have witnessed a significant rise with the rapid urbanization of the sector which has led to an increase in the applications for which the pumps can be used on the field. For instance, a type of pump can be used to transfer crude oil to a pipelin