The oil market has undergone some extensive changes since early November 2014. Prices fell from above $80/bbl to the mid-range $40/bbl in January 2015.Although the market recovered in the first half of 2015 to around $65/bbl, further volatility induced a drop in prices. After which there was a massive fluctuation in the third quarter of 2015, leading to uncertainty for exploration & production (E&P) operators.The market for pumps will register a slow growth. This primarily attributed to the rising focus on enhanced recovery from existing wells and expansion of crude oil pipeline and new refinery installations. Approximately, 9.1 million b/d of new global refining capacity is due to come into existence over the next five years. On the upstream side, volumes for conventional oil discoveries made outside of North America have continued their multi-year decline, and the results are dramatic. Only 12 BBOe of estimated recoverable resources were discovered in 2015, a record low since 1952, when discoveries reached just 7.8 BBOe.The pumps market in the oil and gas industry is dominated by centrifugal pumps.Mature and large players characterize the segment, which are readily leveraging their experience to develop centrifugal pumps with advanced capabilities and functionalities. This is particularly with respect to the adoption of special materials such as super duplex/nickel alloys, discharge pressure capabilities, and a composite balance of plant integration.

PART 01: Executive summary ............................................ 6

Highlights 6

PART 02: Scope of the report ............................................. 7

Market overview 7

Top-vendor offerings 9

PART 03: Market research methodology ......................... 13

Research methodology 13

Economic indicators 13

PART 04: Introduction ....................................................... 14

Key market highlights 14

PART 05: Market landscape .............................................. 24

Market overview 24

Market size and forecast 24

Five forces analysis 29

PART 06: Market segmentation by product .................... 30

Centrifugal Pump 31

Positive displacement pumps 33

PART 07: Geographical segmentation ............................. 34

Global pumps market in oil and gas industry by

geography 34

Americas 35

EMEA 37

APAC 43

PART 08: Market drivers ................................................... 45

Need for improved and enhanced oil recovery 45

Refining capacity additions 46

Opening up of new avenues for natural gas markets 48

Expansion of crude oil pipelines 50

PART 09: Market challenges ............................................. 52

Deferred investments and projects 52

Change in energy mix 52

Investment justification in era of low oil prices 56

Fluctuating raw material prices 59

PART 10: Impact of drivers and challenges .................... 61

PART 11: Market trends .................................................... 62

Long-term service agreements 62

Next-generation industrial automation 62

Emergence of micro-grid technology 64

PART 12: Vendor landscape ............................................. 65

Competitive scenario 65

Other prominent vendors 65

PART 13: Key vendor analysis ......................................... 67

Flowserve 67

ITT 71

KSB 74

Sulzer 76

Grundfos 80

PART 14: Appendix ........................................................... 82

List of abbreviations 82

PART 15: Explore Technavio ............................................ 83