Rodless Pumps Market: Overview

Global demand for energy has been increasing rapidly in the last few years. This has led to the rise in oil and gas exploration and production activities. Rodless pumps are required for the artificial lift process in oil and gas production activities. Discoveries of unconventional resources has increased the demand for rodless pumps. Increase in energy exploration and production is boosting the demand for rodless pumps. Rodless pumps helps in saving operation time and improve the overall efficiency of the wellbore. Rise in technological advancements help reduce manufacturing and service costs of rodless pumps.

Rodless Pumps Market: Key Segments

The rodless pumps market can be segmented based on type, application, and region. In terms of type, the rodless pumps market can be classified into hydraulic submersible pump and electric submersible pump. Rodless pumps are used in drilling rigs in offshore and onshore areas. The rodless pumps market create several opportunities. Mature oilfields are increasing rapidly where installation of rodless pumps proves beneficial. Additionally, rodless pumps can be customized in terms of design, integration, and installation as per the customer needs to produce oil and gas. Rodless pumps face severe wear and tear due to dog leg severity, water and sand cut, deviation of wells, which is likely to restrain the rodless pumps market. The oil and gas industry has been experiencing weak demand and low prices of crude oil from the last few years. Moreover, it is difficult for Oil & Gas companies to plan and make strategic decisions for commencing oil and gas production owing to the fluctuating crude oil prices globally. Installation of real time monitoring system helps in mitigating the risks of corrosion in the rodless pumps.

Rodless Pumps Market: Regional Outlook

In terms of geography, North America dominates the global rodless pumps market. This can be ascribed to the increase in exploration & production activities in offshore areas in the U.S. Discovery of shale oil in North Dakota, U.S., boosts the demand for rodless pumps. The rodless pumps market has been expanding in countries in Asia Pacific such as India, China, and Japan due to the rise in offshore oil and gas production activities. The rodless pumps market is projected to expand in countries such as the U.K., Germany, France, and Norway in Europe due to the increase in oil and gas drilling activities in the Johan Sverdrup field in the North Sea and improvements in offshore drilling activities. Demand for rodless pumps is expected to rise in countries such as Brazil and Mexico in Latin America owing to rapid urbanization and increase in offshore oil and gas exploration and production activities in the Gulf of Mexico. Demand for rodless pumps in countries in Middle East & Africa is likely to rise due to the increase in number of offshore oil and gas exploration and production activities. Moreover, Saudi Arabia, Kuwait, and Qatar have been rapidly drilling and producing oil and gas due to the increase in global demand for energy. Deep-water discoveries in Africa are anticipated to propel the demand for rodless pumps in the sub-region.

Rodless Pumps Market: Key Players

Key global market players operating in the global rodless pumps market include GE, Schlumberger Ltd, Weatherford International, HANSEN Downhole Pump Solutions, Halliburton, and National Oilwell Varco (NOV).  

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.