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Strategic Analysis of the European Pumps Market in the Oil and Gas Industry
Frost & Sullivan, Sep 2009, Pages: 66
Strategic Services to Prove Lucrative for Suppliers in the European Pumps Market in the Oil and Gas Industry
Offshore developments and sub-sea applications coupled with the rise in oil prices are likely to attract investments in the oil and gas industry. Suppliers can capitalise on the large installed base in these regions that are expected to offer considerable opportunities in strategic services, despite this being a maturing market. 'Focus on offering energy efficient and intelligent pumps are likely to offer good growth potential,' says the analyst of this research. 'The demand for energy coupled with security issues in the transportation of oil and gas, offers growth opportunities for intelligent pumps and systems.'
Increased end-user focus on reducing operational costs due to the economic downturn is expected to offer opportunities for strategic services such as total pump management, which helps in market sustenance. Pump services in the oil and gas industry provide growth prospects over the short term and are expected to increase its total share in the market. This is evident from technical consulting, a high-growth sector gaining prominence in the industry that is likely to have favourable growth potential in the strategic services market.
Strategic Services Helps Short Term Sustenance
Stringent government regulations aimed at reducing greenhouse gas emissions pose a challenge to investors resulting in reduced production from existing plants and low investments in new exploration sites, which are expected to directly affect the pumps market, as they are an integral part of these industries.
'Maturing oil fields coupled with strict government regulations has resulted in a focus on alternative energy resources,' explains the analyst. 'With an increased emphasis on third generation bio-fuels, the demand for conventional sources of energy is expected to decline over the long-term.'
Strategic services are expected to offer lucrative growth potential over the short term. In addition, the rising trend towards remote monitoring of pumps to address security, environmental and performance issues are paving the way for a bright future.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By product type:
- Centrifugal pumps
- Positive displacement pumps
This Frost & Sullivan research service titled Strategic Analysis of the European Pumps Market in the Oil and Gas Industry provides revenue forecasts for the total market and each product type in the oil and gas industry. This research service provides a complete analysis of the market and identifies the different areas of growth in terms of geography and products. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets by product type: centrifugal pumps and positive displacement pumps.
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