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The global mud pumps market is anticipated at US$ 0.90 billion in 2022. Demand is likely to remain high for mud pumps during the assessment period. This is due to the rapid technological advancement in mud pump technologies, such as higher pressure ratings, improved efficiency, and automation capabilities garnering US$ 1.32 billion in 2033, recording a CAGR of 3.6% from 2023 to 2033. The market is likely to secure US$ 0.93 billion in 2023.
Data Points | Key Statistics |
---|---|
Mud Pumps Market Size Value in 2023 | US$ 0.93 billion |
Mud Pumps Market Forecast Value in 2033 | US$ 1.32 billion |
Global Growth Rate | 3.6% |
Forecast Period | 2023 to 2033 |
Key Factors Shaping the Demand Outlook of the Mud Pumps Industry:
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Attributes | Details |
---|---|
Historical CAGR (2018 to 2022) | 3.1% |
Forecasted CAGR (2023 to 2033) | 3.6% |
The mud pumps market is projected to grow at a CAGR of 3.1% approximately by the end of 2022. Rising exploration activities to fulfill surging demand for energy across various regions are boosting sales of mud pumps. Demand will continue to grow amid the rising popularity of electric mud pumps owing to their smooth functioning, low vibration, and low noise.
Key market players are currently focusing on product launches to keep pace with changing consumer preferences. For instance, in 2019, Xylem, a leading global water technology company focused on introducing innovative technological solutions to the world’s water challenges unveiled the launch of its new, Flygt N3069 stainless steel submersible pump which is exclusively designed to fix the rigid pumping obstacles detected in elaborated industrial applications such as aquaculture and industrial foods.
Flygt N3069 technology is equipped for delivering greater pumping efficiency and minimizing energy consumption and greenhouse gas emissions by up to 25%. Other market players are adopting strategies such as mergers & acquisitions in order to strengthen their market position.
For instance, in 2021, Sulzer, a global leader in fluid engineering, finalized the acquisition of Nordic Water, a key supplier of water treatment technology. The acquisition of Nordic Water aligns with the developmental strategy of Sulzer focused on achieving a profound understanding of wastewater treatment applications and fostering monumental sales across the globe, thereby leveraging the scale of the combined business.
With the increasing incorporation of new launches and dependency on sustainable solutions, the global mud pump market is expected to witness substantial growth in the upcoming years.
Mud Pumps Push Full Steam Ahead in Onshore Drilling Applications
Onshore drilling applications of mud pumps are projected to generate significant opportunities for market players. The segment is anticipated to grow 1.4x through 2033 and will capture ~80% of the market share by mid-term.
Mud pumps having 7500-psi are witnessing high demand as they have a huge impact on a rig’s depth as well as efficiency in drilling.
Mud pumps are helping reach greater depths every hour saving the rig operator time and money. Oil and gas equipment manufacturers for on-shore applications have seen a shifting focus to 7500-psi mud pump systems and these pumps are expected to become the new standard for the oil and gas industry.
Within on-shore drilling applications, gear-driven triplex mud pumps are seeing high adoption. With ranges between 1600-2400 hp, their top-mounted configuration and compact structure makes them highly suitable for high-pressure drilling operations.
Zirconia Lined Mud Pumps Offer Greater Serviceability
Zirconia ceramic mud pump liners offer a plethora of advantages such as cost savings, longer serviceability, and safer operability than sleeves made of conventional iron or alumina. Here are some of the key findings:
When zirconia liners are correctly honed to a finishing that is equivalent to 4RMS, piston wear, and tear can see a reduction up to 75%. Studies opine that pistons having iron liners are replaced more frequently, two times a month over three years at a cost anywhere between $9,000- $11,000 whereas pistons with zirconia liners have to be replaced at a minuscule cost of US$ 1500 with a replacement rate of only 12 times in 3 years. In one instance, a drilling contractor reported increased serviceability
These costs do not include the extensive labor costs incurred during replacement. Conventional linings using iron or aluminum take anywhere between 2-3 hours of skilled labor to remove and replace the liner and re-assemble the pump. On a drilling platform that runs anywhere between 2-4 triplex pumps, the process proves very costly. Larger, more extensive fleets can incur costs that run into thousands of dollars
Most drilling rigs utilize a large quantity of water to reduce the heat build-up in mud pumps that can potentially burn the pistons causing irreparable bore wear and tear. However, the use of a zirconia liner does not require the need to use water or tamper with the driller’s prevalent lubrication system. The use of inefficient water supply systems for conventional liners might require an overhaul or re-design of the water system that can lead to expenses worth thousands of dollars
Zirconia liners for mud pumps also enhance worker safety as workers spend significantly lesser time on overhaul and maintenance in places on the rig which are severely cramped in terms of space
Mud Pumps Manufacturers Sustain Growth through Tech Acumen
A staggering 54% of the overall market share by the top 10 players indicates a consolidated market structure of mud pumps.
National Oilwell Varco, Inc headquartered in the United States is a global behemoth operating in more than 70 countries. With expertise in rig technology, the company has firmly entrenched itself in MEA with its joint venture with Dubai-based Saudi Aramco in the manufacture of onshore rig equipment and mud pumps.
Weatherford International plc, headquartered out of Baar, Switzerland is a European land drilling rig giant operating across 90 countries. Its range of compact, mud-base microimagers helps deliver high-definition images of pump machinery in oil rigs to facilitate analytics.
Framo, a Norway-based pump manufacturing company has provided an innovative pump system to Andfjord Salmon for its salmon farming facility. This facility will encompass a series of two flow-through pumps, one drainage pump, and four mud pumps. The system is not only patented but also would provide the farming facility with a stable water current at lower operating costs and very low energy consumption.
Drillmec is an international leader in the design and manufacturing of premium performance triplex mud pumps for both on-shore and off-shore drilling applications. Its range of triplex mud pumps comes in both formats of 5000 psi and 7000 psi in both diesel and electric variants. These can also be customized as per the client’s need or trailered as deemed fit.
Global Mud Pumps Market:
Attributes | Global Mud Pumps Market |
---|---|
CAGR (2023 to 2033) | 3.6% |
Market Value (2033) | US$ 1.32 billion |
Growth Factors | Rising exploration activities to boost market sales in the forecast period. |
Opportunities | Increased demand from the oil & gas industry offers opportunities for market expansion in the forecast period. |
Global Asia Pacific Industrial Pump Market:
Attributes | Global Asia Pacific Industrial Pump Market |
---|---|
CAGR (2023 to 2033) | 4.7% |
Market Value (2033) | US$ 41.1 billion |
Growth Factors | Increased industrialization and increased demand for mud pumps are expected to drive market growth during the forecast period. |
Opportunities | The increasing demand from various end-use industries is expected to offer significant opportunities for market expansion in the forecast period. |
Global Centrifugal Pumps Market:
Attributes | Global Centrifugal Pumps Market |
---|---|
CAGR (2023 to 2033) | 6.2% |
Market Value (2033) | US$ 60 billion |
Growth Factors | Increasing demand for efficient pumping system is propelling the demand for centrifugal pumps during the forecast period. |
Opportunities | Increased demand from the oil & gas industry expected to offer significant opportunities for expansion in the coming time |
The Rapidly Growing Oil & Gas Industry to Boost the Growth of the Mud Pump Market in The United States
The global mud pump market is expected to be dominated by North America. The market is anticipated to expand at a CAGR of 3.4% and is expected to accumulate a market value of US$ 1.0 billion over the forecast period. Onshore and offshore drilling activities in the region's active oil and gas industry, are expected to drive the mud pumps market in North America.
The shale gas boom, particularly in the United States, has significantly contributed to the market growth. Operators in countries such as the United States are also moving to remote sites in Alaska which is driving the adoption of oil rigs, equipment, and mud pumps.
The region is also characterized by technological advancements, stringent environmental regulations, and a high rig count, which create a favorable market environment for mud pump manufacturers.
Increased Demand for Reliable Drilling Equipment in the Region to Boost the Growth of the Market
The mud pumps sales in the United Kingdom are expected to keep rising with a CAGR of 3.3% and are expected to gain a market value of US$ 0.85 billion by the end of the forecast period.
Increased prevalence of offshore drilling activities in the North Sea, exploration projects in emerging markets, and the demand for energy security. The market in Europe is also driven by technological advancements, environmental concerns, and the need for efficient and reliable drilling equipment. Countries like Norway, the United Kingdom, and the Netherlands are major contributors to the European mud pump market.
Rapid Industrialization to Drive the Growth of the Market in Asia Pacific
The Asia Pacific mud pump market is expected to rise at 3.5% CAGR between 2023 to 2033. The market is expected to gain a market value of US$ 0.79 billion by the end of the forecast period. Asia Pacific region has witnessed significant growth in the mud pump market due to rapid industrialization and urbanization in countries like China and India.
The region's growing oil and gas exploration activities, particularly in offshore areas, contribute to the market growth. Additionally, the mining and construction sectors in the region drive the demand for mud pumps for dewatering and slurry pumping applications.
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Triplex Segment to Remain Prominent During the Forecast Period
By product type, the mud pumps market segment includes duplex, triplex, and quintuplex. Among these, the triplex segment is expected to dominate the market in the forecast period. The segment is projected to account for a CAGR of 3.5% during the forecast period.
Triplex mud pumps are known for their capability to deliver high pressures and flow rates. They are designed to handle the rigorous demands of drilling operations and provide the necessary power to pump drilling mud downhole.
Triplex mud pumps offer several advantages over duplex pumps like smooth and continuous flow, reduced pulsation, and enhanced efficiency, due to these advantages duplex pumps are getting replaced with a triplex.
Electric Driven Segment Generates High Revenue
Based on the driven system, the market is segmented into electric & fuel engine segments. Among all these electric segments remains the top category and are expected to expand with a CAGR of 3.4% throughout the forecast period.
Electric-driven mud pumps are generally more environmentally friendly compared to fuel-driven pumps. Electric motors produce zero emissions at the point of use, reducing the carbon footprint and improving air quality. Electric-driven mud pumps often have lower operating costs in the long run. Electricity is generally cheaper and more stable compared to fuel costs, especially in regions with high fuel prices or volatile fuel markets.
Companies operating in the mud pumps market are establishing strategic partnerships with other market participants to expand their product portfolios to address the demand of an expanding pool of consumers. They are further producing equipment that can be integrated with equipment from other OEMs.
Some of the leading players operating in the market are:
Report Attribute | Details |
---|---|
Growth Rate | CAGR of 3.6% from 2023 to 2033 |
Market Value in 2023 | US$ 0.93 billion |
Market Value in 2033 | US$ 1.32 billion |
Base Year for Estimation | 2022 |
Historical Data | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Quantitative Units | Revenue in US$ Billion and CAGR from 2023 to 2033 |
Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered |
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Regions Covered |
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Key Countries Profiled |
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Key Companies Profiled |
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The global market could progress at a 3.6% CAGR till 2033 concluding at US$ 1.32 billion.
Oilwell Varco, Gardner Denver, and Schlumberger are the top suppliers of mud pumps.
Asia Pacific is emerging as a very lucrative market and may follow a CAGR of 3.5% until 2033.
The profitability from the electric-driven segment could rise at a 3.4% per year until 2033.
The triplex mud pump segment dominates and could follow a 3.5% CAGR through 2033.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2023 to 2033 5.3.1. Duplex 5.3.2. Triplex 5.3.3. Quintuplex 5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Driven System 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Driven System, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Driven System, 2023 to 2033 6.3.1. Electric 6.3.2. Fuel Engine 6.4. Y-o-Y Growth Trend Analysis By Driven System, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Driven System, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033 7.3.1. Onshore 7.3.2. Offshore 7.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022 7.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. Asia Pacific 8.3.5. MEA 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Product Type 9.2.3. By Driven System 9.2.4. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product Type 9.3.3. By Driven System 9.3.4. By Application 9.4. Key Takeaways 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Product Type 10.2.3. By Driven System 10.2.4. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product Type 10.3.3. By Driven System 10.3.4. By Application 10.4. Key Takeaways 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. UK 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Product Type 11.2.3. By Driven System 11.2.4. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product Type 11.3.3. By Driven System 11.3.4. By Application 11.4. Key Takeaways 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.1.4. Singapore 12.2.1.5. Thailand 12.2.1.6. Indonesia 12.2.1.7. Australia 12.2.1.8. New Zealand 12.2.1.9. Rest of Asia Pacific 12.2.2. By Product Type 12.2.3. By Driven System 12.2.4. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product Type 12.3.3. By Driven System 12.3.4. By Application 12.4. Key Takeaways 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. South Africa 13.2.1.3. Israel 13.2.1.4. Rest of MEA 13.2.2. By Product Type 13.2.3. By Driven System 13.2.4. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product Type 13.3.3. By Driven System 13.3.4. By Application 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. USA 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2022 14.1.2.1. By Product Type 14.1.2.2. By Driven System 14.1.2.3. By Application 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2022 14.2.2.1. By Product Type 14.2.2.2. By Driven System 14.2.2.3. By Application 14.3. Brazil 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2022 14.3.2.1. By Product Type 14.3.2.2. By Driven System 14.3.2.3. By Application 14.4. Mexico 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2022 14.4.2.1. By Product Type 14.4.2.2. By Driven System 14.4.2.3. By Application 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2022 14.5.2.1. By Product Type 14.5.2.2. By Driven System 14.5.2.3. By Application 14.6. UK 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2022 14.6.2.1. By Product Type 14.6.2.2. By Driven System 14.6.2.3. By Application 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2022 14.7.2.1. By Product Type 14.7.2.2. By Driven System 14.7.2.3. By Application 14.8. Spain 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2022 14.8.2.1. By Product Type 14.8.2.2. By Driven System 14.8.2.3. By Application 14.9. Italy 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2022 14.9.2.1. By Product Type 14.9.2.2. By Driven System 14.9.2.3. By Application 14.10. China 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2022 14.10.2.1. By Product Type 14.10.2.2. By Driven System 14.10.2.3. By Application 14.11. Japan 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2022 14.11.2.1. By Product Type 14.11.2.2. By Driven System 14.11.2.3. By Application 14.12. South Korea 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2022 14.12.2.1. By Product Type 14.12.2.2. By Driven System 14.12.2.3. By Application 14.13. Singapore 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2022 14.13.2.1. By Product Type 14.13.2.2. By Driven System 14.13.2.3. By Application 14.14. Thailand 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2022 14.14.2.1. By Product Type 14.14.2.2. By Driven System 14.14.2.3. By Application 14.15. Indonesia 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2022 14.15.2.1. By Product Type 14.15.2.2. By Driven System 14.15.2.3. By Application 14.16. Australia 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2022 14.16.2.1. By Product Type 14.16.2.2. By Driven System 14.16.2.3. By Application 14.17. New Zealand 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2022 14.17.2.1. By Product Type 14.17.2.2. By Driven System 14.17.2.3. By Application 14.18. GCC Countries 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2022 14.18.2.1. By Product Type 14.18.2.2. By Driven System 14.18.2.3. By Application 14.19. South Africa 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2022 14.19.2.1. By Product Type 14.19.2.2. By Driven System 14.19.2.3. By Application 14.20. Israel 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2022 14.20.2.1. By Product Type 14.20.2.2. By Driven System 14.20.2.3. By Application 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Product Type 15.3.3. By Driven System 15.3.4. By Application 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. National Oilwell Varco, Inc. 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. Gardner Denver Holdings Inc. 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. Schlumberger Limited 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. Weatherford International plc 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. The Weir Group plc 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. Honghua Group Limited 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. TSC Group Holdings Limited 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. Sulzer Ltd. 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. Forum Energy Technologies Inc. 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. DRILLMEC S.p.A. 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033 Table 2: Global Market Volume (Units) Forecast by Region, 2018 to 2033 Table 3: Global Market Value (US$ Million) Forecast by Product Type, 2018 to 2033 Table 4: Global Market Volume (Units) Forecast by Product Type, 2018 to 2033 Table 5: Global Market Value (US$ Million) Forecast by Driven System, 2018 to 2033 Table 6: Global Market Volume (Units) Forecast by Driven System, 2018 to 2033 Table 7: Global Market Value (US$ Million) Forecast by Application, 2018 to 2033 Table 8: Global Market Volume (Units) Forecast by Application, 2018 to 2033 Table 9: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033 Table 10: North America Market Volume (Units) Forecast by Country, 2018 to 2033 Table 11: North America Market Value (US$ Million) Forecast by Product Type, 2018 to 2033 Table 12: North America Market Volume (Units) Forecast by Product Type, 2018 to 2033 Table 13: North America Market Value (US$ Million) Forecast by Driven System, 2018 to 2033 Table 14: North America Market Volume (Units) Forecast by Driven System, 2018 to 2033 Table 15: North America Market Value (US$ Million) Forecast by Application, 2018 to 2033 Table 16: North America Market Volume (Units) Forecast by Application, 2018 to 2033 Table 17: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033 Table 18: Latin America Market Volume (Units) Forecast by Country, 2018 to 2033 Table 19: Latin America Market Value (US$ Million) Forecast by Product Type, 2018 to 2033 Table 20: Latin America Market Volume (Units) Forecast by Product Type, 2018 to 2033 Table 21: Latin America Market Value (US$ Million) Forecast by Driven System, 2018 to 2033 Table 22: Latin America Market Volume (Units) Forecast by Driven System, 2018 to 2033 Table 23: Latin America Market Value (US$ Million) Forecast by Application, 2018 to 2033 Table 24: Latin America Market Volume (Units) Forecast by Application, 2018 to 2033 Table 25: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033 Table 26: Europe Market Volume (Units) Forecast by Country, 2018 to 2033 Table 27: Europe Market Value (US$ Million) Forecast by Product Type, 2018 to 2033 Table 28: Europe Market Volume (Units) Forecast by Product Type, 2018 to 2033 Table 29: Europe Market Value (US$ Million) Forecast by Driven System, 2018 to 2033 Table 30: Europe Market Volume (Units) Forecast by Driven System, 2018 to 2033 Table 31: Europe Market Value (US$ Million) Forecast by Application, 2018 to 2033 Table 32: Europe Market Volume (Units) Forecast by Application, 2018 to 2033 Table 33: Asia Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033 Table 34: Asia Pacific Market Volume (Units) Forecast by Country, 2018 to 2033 Table 35: Asia Pacific Market Value (US$ Million) Forecast by Product Type, 2018 to 2033 Table 36: Asia Pacific Market Volume (Units) Forecast by Product Type, 2018 to 2033 Table 37: Asia Pacific Market Value (US$ Million) Forecast by Driven System, 2018 to 2033 Table 38: Asia Pacific Market Volume (Units) Forecast by Driven System, 2018 to 2033 Table 39: Asia Pacific Market Value (US$ Million) Forecast by Application, 2018 to 2033 Table 40: Asia Pacific Market Volume (Units) Forecast by Application, 2018 to 2033 Table 41: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033 Table 42: MEA Market Volume (Units) Forecast by Country, 2018 to 2033 Table 43: MEA Market Value (US$ Million) Forecast by Product Type, 2018 to 2033 Table 44: MEA Market Volume (Units) Forecast by Product Type, 2018 to 2033 Table 45: MEA Market Value (US$ Million) Forecast by Driven System, 2018 to 2033 Table 46: MEA Market Volume (Units) Forecast by Driven System, 2018 to 2033 Table 47: MEA Market Value (US$ Million) Forecast by Application, 2018 to 2033 Table 48: MEA Market Volume (Units) Forecast by Application, 2018 to 2033
Figure 1: Global Market Value (US$ Million) by Product Type, 2023 to 2033 Figure 2: Global Market Value (US$ Million) by Driven System, 2023 to 2033 Figure 3: Global Market Value (US$ Million) by Application, 2023 to 2033 Figure 4: Global Market Value (US$ Million) by Region, 2023 to 2033 Figure 5: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033 Figure 6: Global Market Volume (Units) Analysis by Region, 2018 to 2033 Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033 Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033 Figure 9: Global Market Value (US$ Million) Analysis by Product Type, 2018 to 2033 Figure 10: Global Market Volume (Units) Analysis by Product Type, 2018 to 2033 Figure 11: Global Market Value Share (%) and BPS Analysis by Product Type, 2023 to 2033 Figure 12: Global Market Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033 Figure 13: Global Market Value (US$ Million) Analysis by Driven System, 2018 to 2033 Figure 14: Global Market Volume (Units) Analysis by Driven System, 2018 to 2033 Figure 15: Global Market Value Share (%) and BPS Analysis by Driven System, 2023 to 2033 Figure 16: Global Market Y-o-Y Growth (%) Projections by Driven System, 2023 to 2033 Figure 17: Global Market Value (US$ Million) Analysis by Application, 2018 to 2033 Figure 18: Global Market Volume (Units) Analysis by Application, 2018 to 2033 Figure 19: Global Market Value Share (%) and BPS Analysis by Application, 2023 to 2033 Figure 20: Global Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033 Figure 21: Global Market Attractiveness by Product Type, 2023 to 2033 Figure 22: Global Market Attractiveness by Driven System, 2023 to 2033 Figure 23: Global Market Attractiveness by Application, 2023 to 2033 Figure 24: Global Market Attractiveness by Region, 2023 to 2033 Figure 25: North America Market Value (US$ Million) by Product Type, 2023 to 2033 Figure 26: North America Market Value (US$ Million) by Driven System, 2023 to 2033 Figure 27: North America Market Value (US$ Million) by Application, 2023 to 2033 Figure 28: North America Market Value (US$ Million) by Country, 2023 to 2033 Figure 29: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033 Figure 30: North America Market Volume (Units) Analysis by Country, 2018 to 2033 Figure 31: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033 Figure 32: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033 Figure 33: North America Market Value (US$ Million) Analysis by Product Type, 2018 to 2033 Figure 34: North America Market Volume (Units) Analysis by Product Type, 2018 to 2033 Figure 35: North America Market Value Share (%) and BPS Analysis by Product Type, 2023 to 2033 Figure 36: North America Market Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033 Figure 37: North America Market Value (US$ Million) Analysis by Driven System, 2018 to 2033 Figure 38: North America Market Volume (Units) Analysis by Driven System, 2018 to 2033 Figure 39: North America Market Value Share (%) and BPS Analysis by Driven System, 2023 to 2033 Figure 40: North America Market Y-o-Y Growth (%) Projections by Driven System, 2023 to 2033 Figure 41: North America Market Value (US$ Million) Analysis by Application, 2018 to 2033 Figure 42: North America Market Volume (Units) Analysis by Application, 2018 to 2033 Figure 43: North America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033 Figure 44: North America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033 Figure 45: North America Market Attractiveness by Product Type, 2023 to 2033 Figure 46: North America Market Attractiveness by Driven System, 2023 to 2033 Figure 47: North America Market Attractiveness by Application, 2023 to 2033 Figure 48: North America Market Attractiveness by Country, 2023 to 2033 Figure 49: Latin America Market Value (US$ Million) by Product Type, 2023 to 2033 Figure 50: Latin America Market Value (US$ Million) by Driven System, 2023 to 2033 Figure 51: Latin America Market Value (US$ Million) by Application, 2023 to 2033 Figure 52: Latin America Market Value (US$ Million) by Country, 2023 to 2033 Figure 53: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033 Figure 54: Latin America Market Volume (Units) Analysis by Country, 2018 to 2033 Figure 55: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033 Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033 Figure 57: Latin America Market Value (US$ Million) Analysis by Product Type, 2018 to 2033 Figure 58: Latin America Market Volume (Units) Analysis by Product Type, 2018 to 2033 Figure 59: Latin America Market Value Share (%) and BPS Analysis by Product Type, 2023 to 2033 Figure 60: Latin America Market Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033 Figure 61: Latin America Market Value (US$ Million) Analysis by Driven System, 2018 to 2033 Figure 62: Latin America Market Volume (Units) Analysis by Driven System, 2018 to 2033 Figure 63: Latin America Market Value Share (%) and BPS Analysis by Driven System, 2023 to 2033 Figure 64: Latin America Market Y-o-Y Growth (%) Projections by Driven System, 2023 to 2033 Figure 65: Latin America Market Value (US$ Million) Analysis by Application, 2018 to 2033 Figure 66: Latin America Market Volume (Units) Analysis by Application, 2018 to 2033 Figure 67: Latin America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033 Figure 68: Latin America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033 Figure 69: Latin America Market Attractiveness by Product Type, 2023 to 2033 Figure 70: Latin America Market Attractiveness by Driven System, 2023 to 2033 Figure 71: Latin America Market Attractiveness by Application, 2023 to 2033 Figure 72: Latin America Market Attractiveness by Country, 2023 to 2033 Figure 73: Europe Market Value (US$ Million) by Product Type, 2023 to 2033 Figure 74: Europe Market Value (US$ Million) by Driven System, 2023 to 2033 Figure 75: Europe Market Value (US$ Million) by Application, 2023 to 2033 Figure 76: Europe Market Value (US$ Million) by Country, 2023 to 2033 Figure 77: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033 Figure 78: Europe Market Volume (Units) Analysis by Country, 2018 to 2033 Figure 79: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033 Figure 80: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033 Figure 81: Europe Market Value (US$ Million) Analysis by Product Type, 2018 to 2033 Figure 82: Europe Market Volume (Units) Analysis by Product Type, 2018 to 2033 Figure 83: Europe Market Value Share (%) and BPS Analysis by Product Type, 2023 to 2033 Figure 84: Europe Market Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033 Figure 85: Europe Market Value (US$ Million) Analysis by Driven System, 2018 to 2033 Figure 86: Europe Market Volume (Units) Analysis by Driven System, 2018 to 2033 Figure 87: Europe Market Value Share (%) and BPS Analysis by Driven System, 2023 to 2033 Figure 88: Europe Market Y-o-Y Growth (%) Projections by Driven System, 2023 to 2033 Figure 89: Europe Market Value (US$ Million) Analysis by Application, 2018 to 2033 Figure 90: Europe Market Volume (Units) Analysis by Application, 2018 to 2033 Figure 91: Europe Market Value Share (%) and BPS Analysis by Application, 2023 to 2033 Figure 92: Europe Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033 Figure 93: Europe Market Attractiveness by Product Type, 2023 to 2033 Figure 94: Europe Market Attractiveness by Driven System, 2023 to 2033 Figure 95: Europe Market Attractiveness by Application, 2023 to 2033 Figure 96: Europe Market Attractiveness by Country, 2023 to 2033 Figure 97: Asia Pacific Market Value (US$ Million) by Product Type, 2023 to 2033 Figure 98: Asia Pacific Market Value (US$ Million) by Driven System, 2023 to 2033 Figure 99: Asia Pacific Market Value (US$ Million) by Application, 2023 to 2033 Figure 100: Asia Pacific Market Value (US$ Million) by Country, 2023 to 2033 Figure 101: Asia Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033 Figure 102: Asia Pacific Market Volume (Units) Analysis by Country, 2018 to 2033 Figure 103: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033 Figure 104: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033 Figure 105: Asia Pacific Market Value (US$ Million) Analysis by Product Type, 2018 to 2033 Figure 106: Asia Pacific Market Volume (Units) Analysis by Product Type, 2018 to 2033 Figure 107: Asia Pacific Market Value Share (%) and BPS Analysis by Product Type, 2023 to 2033 Figure 108: Asia Pacific Market Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033 Figure 109: Asia Pacific Market Value (US$ Million) Analysis by Driven System, 2018 to 2033 Figure 110: Asia Pacific Market Volume (Units) Analysis by Driven System, 2018 to 2033 Figure 111: Asia Pacific Market Value Share (%) and BPS Analysis by Driven System, 2023 to 2033 Figure 112: Asia Pacific Market Y-o-Y Growth (%) Projections by Driven System, 2023 to 2033 Figure 113: Asia Pacific Market Value (US$ Million) Analysis by Application, 2018 to 2033 Figure 114: Asia Pacific Market Volume (Units) Analysis by Application, 2018 to 2033 Figure 115: Asia Pacific Market Value Share (%) and BPS Analysis by Application, 2023 to 2033 Figure 116: Asia Pacific Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033 Figure 117: Asia Pacific Market Attractiveness by Product Type, 2023 to 2033 Figure 118: Asia Pacific Market Attractiveness by Driven System, 2023 to 2033 Figure 119: Asia Pacific Market Attractiveness by Application, 2023 to 2033 Figure 120: Asia Pacific Market Attractiveness by Country, 2023 to 2033 Figure 121: MEA Market Value (US$ Million) by Product Type, 2023 to 2033 Figure 122: MEA Market Value (US$ Million) by Driven System, 2023 to 2033 Figure 123: MEA Market Value (US$ Million) by Application, 2023 to 2033 Figure 124: MEA Market Value (US$ Million) by Country, 2023 to 2033 Figure 125: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033 Figure 126: MEA Market Volume (Units) Analysis by Country, 2018 to 2033 Figure 127: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033 Figure 128: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033 Figure 129: MEA Market Value (US$ Million) Analysis by Product Type, 2018 to 2033 Figure 130: MEA Market Volume (Units) Analysis by Product Type, 2018 to 2033 Figure 131: MEA Market Value Share (%) and BPS Analysis by Product Type, 2023 to 2033 Figure 132: MEA Market Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033 Figure 133: MEA Market Value (US$ Million) Analysis by Driven System, 2018 to 2033 Figure 134: MEA Market Volume (Units) Analysis by Driven System, 2018 to 2033 Figure 135: MEA Market Value Share (%) and BPS Analysis by Driven System, 2023 to 2033 Figure 136: MEA Market Y-o-Y Growth (%) Projections by Driven System, 2023 to 2033 Figure 137: MEA Market Value (US$ Million) Analysis by Application, 2018 to 2033 Figure 138: MEA Market Volume (Units) Analysis by Application, 2018 to 2033 Figure 139: MEA Market Value Share (%) and BPS Analysis by Application, 2023 to 2033 Figure 140: MEA Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033 Figure 141: MEA Market Attractiveness by Product Type, 2023 to 2033 Figure 142: MEA Market Attractiveness by Driven System, 2023 to 2033 Figure 143: MEA Market Attractiveness by Application, 2023 to 2033 Figure 144: MEA Market Attractiveness by Country, 2023 to 2033
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