Global Multi-Phase Pump Market Size (2023-2030)

The Global Multi-Phase Pump Market was estimated to be worth USD 430.65 Billion in 2022 and is projected to reach a value of USD 619.50 Billion by 2030, growing at a fast CAGR of 4.65% during the outlook period 2023-2030.

Multi-phase pumping is used in oil and gas industries to handle the production of oil or natural gas and helps to combine oil and natural gas in a single multiphase pipeline. It is often referred to as multiphase boosting as it is used to increase the pressure of unprocessed fluid that flows from the wellhead. Further, a multiphase pump ensures efficiency and affordability to companies. A prime benefit of these pumps is that they can facilitate improved production by reducing the burden on the wellhead by acting as a surface lift. Moreover, these pumps enable the production and transport of liquid from a central processing facility without the need for a separate installation. Further, owing to different types of multi-phase pumps, it has become easy to produce, process, and transport different types of liquid. They include twin-screw multiphase pumps for moving liquid simultaneously in two directions and a helico-axial pump is used to move liquids with high viscosities in both directions. Additionally, a multiphase pump helps in reducing environmental degradation by eliminating the venting of gas during the production process.

Apart from this, innovations in multi-phase pumps as a result of research and development has led to the development of multi-phase pumps for various purpose. For instance, the use of well-designed plungers for liquid loading, building high-powered pumps for the enhanced and faster production process, centrifugal pumps for electrolysers, and others.

Global Multi-Phase Pump Market Drivers:

The increase in demand for oil and gas has fuelled the demand for Global Multi-Phase Pump Market.

The oil and natural gas industry is witnessing increased demand due to increased energy needs. Further, being the major source of energy for most purposes it requires a systematic and environment-friendly production process, which has boosted the demand for multiphase pumps in the market. According to OPEC, oil occupies 40% and gas occupies 23% of the world energy mix. Moreover, oil and natural gas provide ease of transport and versatility that benefits the companies and hence contribute towards their market growth. Apart from this, advancement in technology has altered the structure of oil making it a cleaner, safer, and more efficient fuel for various purposes. Therefore, multiphase pumping technology is increasingly used by oil and natural gas companies as it allows the separation of crude oil and gas from a Central Processing Facility (CPF) at once without the complexity of using different equipment. Furthermore, it can be used to increase production by extending it to remote areas and reducing pressure on the wellhead. Additionally, multiphase metering is used to measure the production and operation of the oil field and optimize it through multiphase pumping. Furthermore, as oil and natural gas increase greenhouse emissions and carbon footprint, the use of multi-phase pumping eliminates greenhouse gas emissions by venting gas and by well testing during the production process.

Infrastructural developments and innovation in multi-phase pumps have driven the growth of the Global Multi-Phase Pumping Market.

The rapid development of modern systems has increased the demand for multi-phase pumps. The new trends in multi-phase pumping include development in capacity, pressure boost, and handling. For instance, horsepower pumps boost the power and performance of the pump. Further, many pump manufacturers have deployed multiphase booster units for seamless operation on the field. In addition to that, centrifugal multiphase pumps are used by manufacturers of electrolysers. These centrifugal multiphase pumps function through electrolysis that is climate neutral and provide benefits such as reduced post-compression of the gas, provide higher-efficiency, safe delivery of gas, gas conveying, and others. Furthermore, increased motor speeds up to 6000rpm and power in subsea multiphase pumps are being developed by manufacturers to achieve high voltage power supply in deep water. Further, owing to increasing demand from petrochemical industries, the parallel operation mode is used to increase pump capacity. Additionally, suction headers are developed to distribute gas and liquid equally in each pump with increased capacity.

Further developments in the multi-phase pump market include the use of roofs on pumps deployed on elevated levels for protecting the pumps from heat, radiation, and heavy rainfall. In addition to that, the use of mechanical sealing systems such as double mechanical seals with a supporting barrier fluid system has considerably reduced spills and vapour emissions.

Global Multi-Phase Pump Market Challenges:

Rising environmental concerns such as an increase in GHG emissions due to excessive use of oil and natural gas have shifted the world demand towards the use of renewable sources of energy such as geothermal, biofuel, and others that can positively impact the climate and reduce carbon footprint. This can hinder the growth of multi-phase pumps in the market.

Furthermore, the varied viscosity of oils has led to the use of different multi-phase pumps for different processes, which puts pressure on developing high-powered multiphase pumps and increase the cost of capacity, handling, deployment, and others. This can decline the market growth for multi-phase pumps in the market. Therefore, all these restraints must be eliminated to decline the challenges to the multi-phase pump market.

Global Multi-Phase Pump Market Opportunities:

The Global Multi-Phase Pump Market is anticipated to deliver lucrative opportunities for businesses, which include acquisitions, partnerships, collaborations, and agreements during the forecasted period. Furthermore, development in multi-phase pump technology owing to increasing demand from petrochemical industries can earn a good profit for the pump manufacturing companies and enhance their future growth opportunities.

COVID-19 Impact on Global Multi-Phase Pump Market:

The pandemic disrupted the supply chain which declined the market demand for multi-phase pumps. Further, due to geographical restrictions, there was a shortage of raw materials which halted the production process. Additionally, growing health and safety concerns reduced labour availability in pump manufacturing companies. Moreover, scarcity increased oil prices which reduced the consumer demand for oil and gas in the market. Further, due to the reduction in demand for oil, many countries that were the major energy consumers in the world cut oil and petroleum consumption.

Global Multi-Phase Pump Market Recent Developments:

• In July 2022, CIRCOR International, Inc, a leading manufacturer of technology products and sub-systems launched a new twin-screw pump in its Houttuin 200 series called – Houttuin 249. TT. This pump provided wide capacity, handling of various types of fluids, wide pressure, and viscosity range that made it ideal for today’s shaft-sealing solutions.
• In May 2021, Leistritz, a German screw pump specialist launched hydro-compression technology multiphase pumps. It included the features of screw pumps and screw compressors that improved efficiency, increased capacity, used less energy, and reduced the cooling requirement.

MULTI-PHASE PUMP MARKET REPORT COVERAGE:

Global Multi-Phase Pump Market Segmentation:

Global Multi-Phase Pump Market Segmentation: By Type

• Twin-Screw Pumps
• Helico-Axial Pump
• Others

Based on market segmentation by type, twin screw pumps hold the highest market share. A twin-screw pump is used to transfer liquid simultaneously in two directions that have two interlocked helical screws, an electric motor, and other gears. The main benefits of this pump are that it can control large volume fluids, pressures, and high-viscosity fluids. Furthermore, it is most commonly used in oil and petroleum industries to transfer crude oil to shuttle tankers and then to refineries that convert crude oil into consumable petroleum products. Additionally, new developments in twin-screw pumps such as combining them with centrifugal pumps, developing sealed screw pumps, high-viscose twin screw pumps for handling various types of fluids and gases, and others have contributed toward the growth of twin-screw pumps in the market.

Global Multi-Phase Pump Market Segmentation: By Application

• Offshore
• Onshore

Based on market segmentation by application, the offshore market holds the highest market share. Offshore oil and gas application is drilled deep inside the water body such as oceans and seas. Further, the production of oil at offshore locations is expensive compared to onshore as they are prone to oil gas pollution and spills. This further boosts the demand for multi-phase pumps that enable proper gas handling and treatment of high-viscose fluids. Moreover, the use of upstream or offshore multiphase pumps enables protection from uncertain temperatures, protection from ocean or sea climatic conditions through sealing technology such as the use of heavy-duty mechanical seals, and enhanced performance has increased the application of multiphase pumps in offshore areas.

Global Multi-Phase Pump Market Segmentation: By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Based on market segmentation by region, the Middle East and Africa occupy the highest share of the market. With the wide presence of oil industries and oil reserves, the region witnesses increased demand for multiphase pumps. These pumps have benefitted the oil reserves in the Gulf countries by increasing production, handling hazardous substances, reducing capital expenses, and optimizing the production process through multiphase metering techniques. Further, to cater to increased demand, manufacturers have developed different-sized pumping facilities for different reasons, increased the power of pumps, and developed high-tech meters that measure velocities, viscosity, and composition by using 4D location technology. Further, the use of twin-screw, three-screw, and multi-screw pumps increased as it provides high flexibility and handles high-viscose fluids easily. This has further fuelled the demand for multiphase pumps in the region.

Asia-Pacific witnessed significant growth in the multi-phase pumping market. The region witnessed increased demand for multi-phase pumps due to an increase in oil and gas usage in the region particularly for cooking and automotive purposes. Further, technological developments focused on capacity, power, and versatility have increased the demand for multiphase pumps in the region.

Global Multi-Phase Pump Market Key Players:

1. Leistritiz Advanced Technologies Corp.
2. ITT Bornemann
3. NETZSCH
4. Edur Pumps
5. FMC Technologies
6. NETZSCH
7. North Ridge Pumps
8. Baker Huges Incorporated
9. Flowserve
10. Lenntech