Multi-Phase Production Pumps Market 2021 – 2022 | Trends, Drivers, Challenges, Growth Forecast and Segmentation

A pump that can handle the complete production from a well (oil, natural gas, water and sand, for example) without needing to separate or process the production stream near or at the wellhead. This reduces the cost associated with the surface facilities. Using multiphase pumps allows development of remote locations or previously uneconomical fields.

Additionally, since the surface equipment, including separators, heater-treaters, dehydrators and pipes, is reduced, the impact on the environment is also reduced. Multiphase pumps can handle high gas volumes as well as the slugging and different flow regimes associated with multiphase production. Multiphase pumps include twin-screw pumps, piston pumps and helicoaxial pumps.

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Market Dynamics
The market for global multiphase production pumps is expected to be driven by factors such as the increased offshore drilling activity across the world, shale boom in a few regions, the thirst to find potential untapped oil and gas reserves among a host of others. The growing tilt towards the use of renewable resources and technological advancements which have made it feasible to run vehicles to run on these alternate sources of fuel are some of the challenges facing this market.

Market Segmentation
The market for Global multiphase production pumps can be segmented on the basis of region into
Americas
EMEA
Asia-Pacific
The market can also be segmented on the basis of application into
Onshore
Offshore
The market is also segmented on the basis of product type into
Twin screw
Helico-Axial
Progressing Cavity
Others

It can also be segmented on the basis of type of formation into
Conventional
Unconventional
Regional/Geographic Analysis
Asia-Pacific

The Asia-Pacific oil and gas market has declined strongly in value in recent years, but the market is expected to bounce back and post strong growth in the forecast period. The Chinese oil and gas market, much like the rest of the world’s oil and gas markets, has been hit hard by the decline in crude oil prices. A general slowdown in the Chinese economy has also impacted the country’s oil and gas market negatively as demand has gradually started decelerating.

A slump in the value of the Yuan is also affecting the profit margins of players in the Chinese market, as importing oil which is increasingly becoming the norm in China as domestic production declines, has become more expensive. The level of volume growth in the Asia-Pacific region varies greatly depending on the country. Some of the more mature economies in the region, such as Japan for example, are witnessing negative volume growth whereas the less mature markets such as Malaysia are witnessing strong volume growth.

Meanwhile China is undergoing an economic transformation from a manufacturing focused economy to a service focused economy. This is resulting in decelerating volume growth in the Chinese market. Overall volume growth in the region is assessed as moderate and will continue growing at roughly the same pace in the forecast period, especially as more energy efficient technology becomes more readily available, reducing demand somewhat for oil and gas

Although growth will vary strongly between different countries in the Asia-Pacific region, overall growth is expected to become strong in the coming years. This is primarily due to crude oil prices recovering somewhat, but also because many of the largest markets in the Asia-Pacific region are not mature and have as such ample space to expand into, making growth of the oil and gas market in these countries much easier. Examples include the likes of India and Malaysia

North America
The North American oil and gas market is dominated by the largest country in the region, namely the United States. The US in total accounts for 83% of the region’s value, meaning that any changes in the US oil and gas market have a profound impact on the wider oil and gas market of the North American region.

The election of incumbent US President Donald Trump is being seen by many as a positive indicator for the US oil and gas market. A staunch supporter of the oil and gas market he revoked some of the environmental requirements from the market invoked through legislation signed in by his predecessor Barack Obama, whilst providing positions in his cabinet to individuals who have been involved in this market, an example being former Exxon Mobil CEO Rex Tillerson.

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Since his election, Trump has taken a number of tangible measures including signing an executive order expanding the drilling of oil and gas off the country’s Arctic and Atlantic coasts. State support should provide a boost to the US and as a consequence to the wider North American oil and gas market in the coming years.

South America
Brazil is the most dominant market in the South American region, accounting for more than 60% of its value. Fluctuations in Brazil as a consequence have a large impact on the wider South American oil and gas market. The Brazilian oil and gas market has been hit hard by the decline in crude oil prices globally.

Players operating in the Brazilian market have too as a consequence been hit hard by this decline. For example, state owned Petrobras has seen its net income drop from 21,182 million BRL in 2012 to -14,824 million BRL in 2016.

Political and economic instability have also amplified the worsening situation, with the wider Brazilian economy declining consecutively for the past two years. A worsened macroeconomic environment is therefore along with the decline in crude oil prices also a major reason for the decline in the Brazilian oil and gas market.

The same holds true for Argentina where political and economic instability are holding back the country’s oil and gas market. As crude oil prices recover, the South American oil and gas market is expected to bounce back and theoretically post a strong growth rate in the forecast period.

Nevertheless, it is important to remember that continued political and economic instability in many of the region’s larger countries such as Brazil and Argentina can have a negative impact on the South American oil and gas market, and growth may therefore not be as high as it has been theoretically predicted to be

EMEA
The European oil and gas market has witnessed a strong decline in value overall in recent years. Whilst the effects of the fall in crude oil prices have been felt by markets across the continent, the worsening macroeconomic environments in many of the European countries like Greece and Italy have not helped matters either. Russia meanwhile in 2016 agreed to cut its oil output levels together with the OPEC nations as well as some other non-OPEC nations such as Kazakhstan.

The purpose of this deal was to push oil prices up again after they had fallen strongly in recent years. Cuts in output levels and low crude oil prices however have taken a toll on players operating in the Russian market, and the value figures of this market are testament to this negative impact. Overall the fortunes of the European oil and gas market have been very negative in the historic period.

Three reasons are primarily responsible for the decline in consumption levels in Europe in recent years. These include low, or in some countries like Spain and Italy, negative population growth reducing the number of consumers, a general shift towards renewable energy throughout the continent pressed on by EU Directives which aim to see Europeans consume 20% of their energy from renewable sources, as well as more energy efficient technology becoming more readily available throughout the continent.

A limited recovery in crude oil prices and improving macroeconomic conditions in several of the currently hard hit European economies should help alleviate the situation in the European oil and gas market in the forecast period. With Russia expanding its oil and gas infrastructure, increased supply will be able to meet recovering volume consumption levels, which will help boost the continent’s oil and gas market.

Middle east
OPEC members in the region such as Saudi Arabia and the UAE have been involved in a series of output cuts in recent months in order to boost oil prices globally. In a deal signed between OPEC members, Russia as well as some other non-OPEC nations like Kazakhstan, in 2016 agreed to reduce their combined output by 1.2 million barrels per day, in order to reduce supply to the market and thereby increase the crude oil prices in the long run.

This reduction in production levels combined with low crude oil prices explains why the Middle Eastern oil and gas market has struggled in recent years. The fall in crude oil prices has had a stark impact on players in the Saudi oil and gas market. Value figures have especially been hit as the profit margins of players have been squeezed.

Meanwhile the reaction in Saudi in 2016 has been to raise fuel prices so as to improve and increase the revenue stream for players. For example, the price of 91 octane fuel for 2016 was increased from 0.45 riyals a liter to 0.75 riyals, and similar jumps have subsequently been seen, noticeably in July 2017, when the price of diesel was increased by 30%.

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As crude oil prices increase again somewhat, this means that players in the Saudi market can expect strong growth in the coming years, as higher domestic fuel prices and higher crude oil prices coupled with increasing volume growth following the end of the OPEC-Russia output cut deal, will ensure a more healthy market for players to compete in. Israel is set to witness a stark increase in natural gas production in the coming years as the Leviathan gas field construction is expected to be finished by 2019.

The field has reserves of around 500 to 600 billion cubic meters of gas, and is expected to double the amount of gas that is available to Israeli consumers. Positive activity like this will help the Israeli market to grow although an expected decline in volume consumption levels is a worrying trend for the Israeli oil and gas market.

Key Players
BP Plc, SPP Pumps, Royal Dutch Shell Plc, Baker Hughes Inc. FMC Technologies, Schlumberger Ltd., Halliburton Co., Weatherford International Ltd., Jiangsu Suhua Pump Co Ltd., Asia Automatic Pump Co Ltd., Maxflow Equipments, CDS-John Blue Company

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