What is Global API 610 Centrifugal Pumps Market?
The Global API 610 Centrifugal Pumps Market is a comprehensive study of the worldwide market trends and growth prospects for API 610 Centrifugal Pumps. API 610 is a specification for centrifugal pumps, particularly those used in the petroleum, petrochemical, and natural gas industries. It is a standard put forth by the American Petroleum Institute, widely recognized across the globe. The market study encompasses the value and volume of the market, both on a global scale and in key regional markets. The report provides an in-depth analysis of the market's historical data and future prospects. It also includes a detailed analysis of the market's competitive landscape, with a focus on the key players in the market.
Vertical, Horizontal in the Global API 610 Centrifugal Pumps Market:
The Global API 610 Centrifugal Pumps Market is segmented based on the orientation of the pump, namely vertical and horizontal. Vertical pumps are designed to be used in applications where space is a constraint, while horizontal pumps are used in applications where there is ample space. The market study provides a detailed analysis of the market share, size, and growth rate of both these segments. It also provides insights into the trends and opportunities in these segments, helping stakeholders make informed decisions. The report also includes a detailed analysis of the market's competitive landscape, with a focus on the key players in the market.
Oil and Gas, Chemical, Others in the Global API 610 Centrifugal Pumps Market:
The Global API 610 Centrifugal Pumps Market finds its applications in various sectors including Oil and Gas, Chemical, and others. In the Oil and Gas industry, these pumps are used for the transportation of crude oil and natural gas from the extraction site to the refineries, and from refineries to the end-users. In the Chemical industry, these pumps are used in various processes including the transportation of chemicals, the mixing of different chemicals, and the circulation of chemicals. The market study provides a detailed analysis of the market share, size, and growth rate of these application segments. It also provides insights into the trends and opportunities in these segments, helping stakeholders make informed decisions. The report also includes a detailed analysis of the market's competitive landscape, with a focus on the key players in the market.
Global API 610 Centrifugal Pumps Market Outlook:
The Global API 610 Centrifugal Pumps Market is expected to witness significant growth in the coming years. As per the market outlook, the market was valued at US$ 1133 million in 2022 and is projected to reach US$ 1467.5 million by 2029, growing at a CAGR of 3.7% during the forecast period 2023-2029. The market is dominated by the top five players who hold a share of over 50%. Geographically, North America is the largest market, accounting for a share of about 33%, followed by Europe and Asia-Pacific, with shares of 23% and 30% respectively. In terms of product type, Vertical pumps are the largest segment, accounting for a share of 52%. In terms of application, the Oil and Gas sector holds a share of about 65%.
| Report Metric | Details |
| Report Name | API 610 Centrifugal Pumps Market |
| Accounted market size in 2023 | US$ 1178 million |
| Forecasted market size in 2029 | US$ 1467.5 million |
| CAGR | 3.7 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Flowserve, KSB, Sulzer, Ruhrpumpen, Trillium Flow Technologies, Sundyne, ITT Goulds Pumps, Pumpworks, Truflo Pumps, Inc., Ebara Corporation, Kirloskar Pompen, Carver Pump, Sichuan Zigong Industrial Pump, Gruppo Aturia, V-FLO |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
