Mud Pumps Sales to Remain Concentrated in Offshore Oil and Gas Drilling Sector as Stakeholders Demand Efficient Mud Circulation

Making use of extremely high pressures, mud pumps are used often by oil and gas rig operators, to circulate mud that is present in the wellbore to the surface. Rising activity in the gas and oil industry, resulting from hydrocarbon production needs, and increased preference for efficient mud circulation are some of the factors that are pushing for a higher rate production and sales of mud pumps in the near future.

Easy installation, cleaning and use, and cheap operational requirements are also favorable towards the use of these products. Growing horizontal and directional activities of drilling, and technologies to uncover high pressure capabilities are pushing the demand for mud pumps forward. On the other hand, the rising awareness about environment pollution arising from drilling activities, and government regulations regarding energy use are projected to act as key restrictive factors for manufacturers in the near future.

Innovations lined up to Upgrade Efficiency

Choosing the right type of mud pump for a drilling operation is reliant on a wide variety of aspects such as cost, size of pump, along with the dimensions of the hole that is being drilled into. Mud pump manufacturers have developed numerous products with varying configurations for the optimal operation of the pump in different drilling procedures.

For example, oil and gas producer, Shell uses its proprietary SCADA drill set up to extract gas from Shale or coal reserves. This equipment comprises of an automated system that automates the speed of the mud being propelled through mud pumps, reducing the amount of contamination, the amount of steel parts required, and minimal need for cement grouting throughout the process.

On a similar note, Energy Recovery Inc. in partnership with Sidewinder Drilling, released its proprietary pump MTeq mechanism that reduces the cost of pumping mud in most oil and gas drilling operations to boost the productivity by redirecting abrasive fluids away from the components of the pump, which enables clean contaminant free fluids, which reduces break downs, downtime and part replacements by a significant margin.

Triplex Mud Pumps to Remain Most Preferred

Mud pumps can be commonly categorized based on the number of pistons into duplex, triplex, and quintuplex variants. Of all of these, the triplex variants of mud pumps are projected to have a higher rate of sales and production. This can be primarily attributed to the common usage of high pressure drilling in deep oil wells, with circulating drilling fluid.

The benefits of using triplex mud pumps are a high efficiency, high pressure capability, along with constant output volumes, with controlled variable flow, improving results by up to 95 percent in comparison to simplex and duplex variants of high pressure pumps, while being cost effective in comparison to quintuplex pumps.

Favorable Government Policies and Industrial Growth Increase Demand

The rapid rise of industrial activities in the emerging economies of the Asia Pacific region, in addition to the high worldwide dependence on oil and gas drilling operations are contributing significantly to the strong growth of the mud pumps market, particularly in the manufacturing and infrastructure sector. Supportive tax cuts and government initiatives such as the ‘Make in India’ of India are anticipated to create a favorable atmosphere for manufacturers in this region.

On the other hand, a major amount of the demand for mud pumps are arising from the oil rich countries of the Middle East such as UAE, Saudi Arabia, and Qatar, with the high activity in the industry. North America has also recently gained control over a massive share of the market owing to the growing shale oil industry in the region.

Moreover, government regulations aiming towards environment protection are anticipated to encourage the growth of electricity run mud pumps, to reduce the emissions of greenhouse gases and volatile organic compounds, from conventional mud pump alternatives. In additional electric mud pumps also find better favor as diesel run mud pumps require massive sized engine compartments that are not feasible for use in work areas with space constraints.

Download Sample Copy of Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-8990

About Nikhil Kaitwade 330 Articles
With over 8 years of experience in market research and consulting industry, Nikhil has worked on more than 250 research assignments pertaining to chemicals, materials and energy sector. He has worked directly with about 35 reputed companies as lead consultant for plant expansion, product positioning, capacity factor analysis, new market/segment exploration, export market opportunity evaluation and sourcing strategies.