The global mud pumps
market is estimated to continue growth
at a healthy clip owing to its wide-scale application in offshore and onshore
drilling rigs. The global sales of mud pumps are estimated to surpass a valuation
of US$ 1 Bn by 2026, as per the latest research report by Future Market
Insights (FMI). Role of mud pumps in ensuring seamless circulation of fluids at
constant pressure levels is one of the key aspects supporting growth of mud
pumps market. 

As per the FMI study, triplex mud pumps
(with three pistons) remain the most commonly used type, on account of
wide-spread applications in multiple verticals. One of the primary advantages
of triplex mud pumps over other types is their ability to move large volumes at
high pressures, which is a key reason boosting their adoption in challenging
applications, such as deep hole drilling. As per the FMI estimation, triplex
mud pumps will hold more than 74% share of the overall $ opportunity in the
global mud pumps market by 2026 end. Triplex mud pumps will outsell other
variants in the mud pumps market and this status quo is likely to remain
unaltered over the forecast period, unveils the report.

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Electric Pumps to Gain Preference

Electric mud pumps will continue to be
highly-favored by end-users over the fuel engine driven variants, finds the
research study. Buoyancy of electric mud pumps can be attributed to their
performance excellence and wide-spread recognition for their easy operations,
reasonable costs, and unique designs. On account of their unparalleled features
and usage characteristics, electric mud pumps find extensive use in power
stations, mines, and oil & gas industry. In addition, electric mud pumps
are also estimated to witness decent sales over the forecast timeline, by
virtue of low mechanical vibrations, augmented reliability, and upgraded efficiency.

Maximum Adoption Anticipated in Oil and
Gas Industry

Among onshore and offshore drilling
rigs in the Oil and Gas Industry, onshore drilling will register high demand
for mud pumps. According to the research study on mud pumps market, the onshore
segment is likely to retain its hegemony and account for an absolute $
opportunity of more than US$ 280 Mn during the forecast period. Owing to high
cost-effectiveness, end-users are transferring multi-phased projects to onshore
drilling and are actively moving away from the offshore one. In addition, high
production remains another key aspect enhancing visibility of onshore drilling
over offshore.

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According to the FMI analysis, North
America will continue to be highly lucrative for the manufacturers of mud
pumps, with the US and Canada spearheading demand. In addition, promising
resurgence of drilling procedures for ramping up the production volumes of oil
and gasis also likely to create favorable grounds for growth of mud pumps
market.China, owing to rising production of oil & gas, is foreseen to
create sustained opportunities for the manufacturers of mud pumps market.
Leading countries in the Middle East and Africa (MEA) region, on account of
heavy reliance on an oil-led economy, will emerge as profitable regions for the
key stakeholders in the mud pumps market.

Sensing the diverse end-user
requirements, manufacturers of mud pumps are offering products in varying
configurations on the basis of requirements as well as ratings of drilling
rigs. Manufacturers are vying to offer value-added services for repair and
maintenance, which remains a key enabler of long-term customer retention. Some
of the leading players in the mud pumps market include MHWirthTrevi Group
(Drillmec), Weatherford International plc, Schlumberger Limited (Cameron
International), Gardner Denver, CNPC Baoji Oilfield Machinery Co., Ltd, Bentec
GmbH Drilling & Oilfield Systems, Flowserve Corporation, and several
others.

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