Global Oil & Gas Pumps Market Revenue Grows at a CAGR of 5.07%

Introduction

Straits Research published a report, “Oil & Gas Pumps Market Size & Outlook, 2026-2034”. According to the study, the market size is valued at USD 9.17 billion in 2025 and is projected to expand to USD 14.15 billion by 2034, registering a compound annual growth rate (CAGR) of 5.07%.

Market Dynamics 

The global oil and gas pumps market is expanding due to increasing industrialization, rising energy infrastructure investments, and the need for cost-effective, reliable pumping solutions. Growing focus on energy efficiency, environmental compliance, and maintenance optimization presents opportunities for innovation in materials, pump design, and automation. Moreover, aftermarket services, digital integration, and modular pump systems offer significant potential for manufacturers to enhance performance, reduce operational costs, and strengthen long-term client relationships across the sector.

However, stringent environmental regulations and rising sustainability expectations are increasingly restraining the market growth. Governments worldwide are imposing stricter rules on emissions, wastewater disposal, and energy consumption, compelling companies to adopt cleaner technologies and limit drilling activities. This regulatory pressure often delays project approvals and increases compliance costs for oil producers. Moreover, the accelerating shift toward renewable energy sources is reducing long-term investment confidence in fossil fuel infrastructure, impacting demand for conventional pumping systems.

Market Highlights 

• Pump Type Insights: Centrifugal pumps hold a dominant position in the market with over 60% share, widely utilized for fluid transfer across upstream, midstream, and downstream activities.
• Applications Insights: The midstream segment is the fastest growing, expanding at a CAGR of 5.58%, driven by rising global crude oil and natural gas transportation requirements.
• End-User Insights: The oil and gas industry leads the market with over 60% share, relying extensively on high-performance pump systems for extraction, refining, distribution, and processing operations.
• Regional Insights: The Asia-Pacific oil & gas pumps market is dominant with a market share of over 35%, driven by expanding upstream exploration, rising offshore investments, and growing refinery capacity additions.

Competitive Players

1. Flowserve Corporation
2. Sulzer Ltd.
3. KSB Group
4. Grundfos
5. Weir Group
6. Ebara Corporation
7. Baker Hughes
8. Schlumberger
9. NOV Inc.
10. Xylem Inc.
11. ITT Inc.
12. Ruhrpumpen
13. SPX FLOW
14. Gardner Denver
15. Pentair
16. Ariel Corporation
17. Kirloskar Brothers
18. Alfa Laval
19. CAT Pumps
20. DXP Enterprises

Recent Developments

April 2025 - ITT Goulds Pumps introduced its new 3430 large double‑suction pump line, engineered for demanding industrial and oil & gas applications. The 3430 series delivers enhanced hydraulics, efficiency, and robust performance for high‑capacity pumping needs, representing a significant upgrade in pump technology.

Segmentation

1. By Pump Type
   1. Centrifugal Pumps
   2. Positive Displacement Pumps
   3. Others
2. By Applications
   1. Upstream
   2. Midstream
   3. Downstream
3. By End-User
   1. Oil & Gas Industry
   2. Chemical Industry
   3. Power Industry
   4. Others
4. By Regions
   1. North America
   2. Europe
   3. Asia-Pacific
   4. Latin America
   5. The Middle East and Africa