Mud Pumps Market Outlook - 2027
A mud pump or drilling mud pump is used to circulate drilling mud on a drilling rig at high pressure. The mud is circulated down through the drill string, and back through the annulus at high pressures. Mud pumps are typically positive displacement pumps, otherwise known as reciprocating pumps. Mud pumps are ideal wherever a lot of fluid needs to be pumped under high pressure. They are considered an essential part of most oil well drilling rigs. Mud pumps can deliver high concentration and high viscosity slurry in a stable flow, making them adaptable to many uses.
Mud pumps are special-purpose pumps, particularly used for moving and circulating drilling fluids and other similar fluids in several applications such as mining and onshore and offshore oil & gas. Mud pumps are a piston/plunger cylinder systems that are used to transfer fluids at substantially high pressures. These pumps are operated in rugged and hostile environments and thus, are bulky and robust. These pumps can draw power from various sources. However, electricity and diesel are widely used sources. Diesel-driven mud pumps are well suited for remote and isolated applications where electricity is not continuously available. These pumps have two major sub-assemblies namely fluid and power ends. The power end consumes power and drives the fluid end to pump the mud. The mud pump market is largely driven by the rising demand for oil & gas.
Covid impact on industry -
COVID-19 pandemic has shut-down the production of various products in the mud pumps industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of mud pumps market significantly from last few months, as is likely to continue during 2020.
COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
A mud pump has its use in drilling fluids, mining and various purpose like that and its increase in demand for such purpose is the factor that drives its growth.
increased demand for directional and horizonal drilling
The main drivers for the growth of this market are the increased demand for directional and horizonal drilling, higher pressure handling capabilities, and a number of new oil discoveries. The global rise in demand for energy boosts the global mud pumps as according to its immense use in market. However, high cost of drilling, environmental risks, and changing government regulations for energy and power may hinder the growth of the market.
Innovation in technology
Innovation in technology is the key for further growth for example, MTeq uses Energy Recovery’s Pressure exchanger technology in the drilling industry, as the ultimate engineered solution to increase productivity and reduce operating costs in pumping process by rerouting rough fluids away from high-pressure pumps, which helps reduce the cost of maintenance for operators. As there is increase in technology , so these kind of new innovations in traditional ways that eases the work and reduce the difficulties becomes the factor to increase the growth of market.
Key benefits of the report:
- This study presents the analytical depiction of the mud pumps market along with the current trends and future estimations to determine the future of the market
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the mud pumps market share.
- The current market is quantitatively analyzed to highlight the mud pumps market growth scenario.
Mud Pumps Market Report Highlights
Key Market Players
Weir Group, Goulds Pumps, SRS Crisafulli Inc., Kirloskar Ebara Pumps Limited, KSB Group, Shijiazhuang Industrial Pump Factory Co. Ltd., Excellence Pump Industry Co. Ltd., Xylem Inc., Halliburton, Flowserve