Market Overview:
The global triplex mud pump market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for oil and gas across the globe. Additionally, rising investments in exploration and production activities are also propelling the growth of this market. On the basis of type, single acting mud pumps accounted for a larger share of the global triplex mud pump market in 2017. This segment is expected to continue its dominance during the forecast period as well, owing to its low cost and easy maintenance requirements.
Product Definition:
A triplex mud pump is a piece of drilling equipment used to circulate drilling fluid (mud) in a well. It consists of three cylinders that move the piston up and down to create pressure, which forces the mud through the drill bit and back up the annulus. The triplex mud pump is an important piece of equipment because it circulates the drilling fluid, which helps keep the drill bit cool and removes cuttings from around the bit.
Single Acting Mud Pump:
Single acting mud pump is a mechanical device used for lifting and circulating water through pipes or channels with the help of suction. It works on single phase flow which can be either gravity or pressure fed. The working principle of this type of pump is based on atmospheric pressure which acts upon the discharge valve to seal itself off from the pipe, thereby creating vacuum and channelizing the flow.
Double Acting Mud Pump:
Double acting mud pump is a type of submersible pump used in the oil & gas industry for lifting liquid from one place to another. It consists of two independent suction valves, which can be actuated by two different pressures. The main advantage of this system is that it reduces the overall piping length and complexity as compared to single acting pumps.
Application Insights:
Onshore application dominated the global market in 2017, accounting for over 60% of the overall revenue share. The growth can be attributed to factors such as increasing demand from oil & gas sector and construction projects. In addition, stable operations in major economies including China, India and Australia are expected to positively impact industry growth over the forecast period.
Global triple-effect mud pump market by application (onshore, offshore.
The offshore segment is anticipated to witness significant growth during the forecast period owing to rising demand from energy & power generation sectors across various regions globally. For instance; Saudi Arabia has announced plans for building 10 massive wind power plants with a capacity of 10 GW each by 2030 which is likely to drive industry expansion over next few years in this region significantly.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The presence of major oil & gas producing countries such as China, India, Vietnam, Thailand and Indonesia are anticipated to drive the regional market growth. In addition, increasing investments in offshore projects by China and Australia are projected to propel product demand over the next eight years.
North America is estimated to witness significant growth from 2018 to 2030 owing to rising shale plays across U.S., which will lead towards an increase in drilling activities for exploration & production of crude oil/gas with multiplex mud pumps being used for water disposal/purification applications during drilling operations at well sites.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising investment in drilling and exploration activities
- Technological advancements in mud pumps that improve performance, efficiency, and reliability
- Growing use of horizontal drilling for extracting hydrocarbons from unconventional reservoirs
- Expansion of the global refining capacity to meet rising demand for petroleum products
Scope Of The Report
Report Attributes
Report Details
Report Title
Triplex Mud Pump Market Research Report
By Type
Single Acting Mud Pump, Double Acting Mud Pump
By Application
Onshore, Offshore
By Companies
National Oilwell Varco, Schlumberger, Gardner Denver, Weatherford International, Flowserve Corporation, Honghua Group, China National Petroleum, Trevi-Finanziaria Industriale, MhWirth, BenTech GmbH Drilling and Oilfield systems, National Oilwell Varco, White Star Pump, Ohara, Herrenknecht Vertical, Mud King Products
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
203
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Triplex Mud Pump Market Report Segments:
The global Triplex Mud Pump market is segmented on the basis of:
Types
Single Acting Mud Pump, Double Acting Mud Pump
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Onshore, Offshore
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- National Oilwell Varco
- Schlumberger
- Gardner Denver
- Weatherford International
- Flowserve Corporation
- Honghua Group
- China National Petroleum
- Trevi-Finanziaria Industriale
- MhWirth
- BenTech GmbH Drilling and Oilfield systems
- National Oilwell Varco
- White Star Pump
- Ohara
- Herrenknecht Vertical
- Mud King Products
Highlights of The Triplex Mud Pump Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Acting Mud Pump
- Double Acting Mud Pump
- By Application:
- Onshore
- Offshore
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Triplex Mud Pump Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A Triplex Mud Pump is a type of pump that can move three different types of mud, such as slurry, slurries and suspensions. This type of pump is often used in mining and oil and gas production applications.
Some of the major companies in the triplex mud pump market are National Oilwell Varco, Schlumberger, Gardner Denver, Weatherford International, Flowserve Corporation, Honghua Group, China National Petroleum, Trevi-Finanziaria Industriale, MhWirth, BenTech GmbH Drilling and Oilfield systems, National Oilwell Varco, White Star Pump, Ohara, Herrenknecht Vertical, Mud King Products.
The triplex mud pump market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Triplex Mud Pump Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Triplex Mud Pump Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Triplex Mud Pump Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Triplex Mud Pump Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Triplex Mud Pump Market Size & Forecast, 2018-2028
4.5.1 Triplex Mud Pump Market Size and Y-o-Y Growth
4.5.2 Triplex Mud Pump Market Absolute $ Opportunity
Chapter 5 Global Triplex Mud Pump Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Triplex Mud Pump Market Size Forecast by Type
5.2.1 Single Acting Mud Pump
5.2.2 Double Acting Mud Pump
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Triplex Mud Pump Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Triplex Mud Pump Market Size Forecast by Applications
6.2.1 Onshore
6.2.2 Offshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Triplex Mud Pump Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Triplex Mud Pump Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Triplex Mud Pump Analysis and Forecast
9.1 Introduction
9.2 North America Triplex Mud Pump Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Triplex Mud Pump Market Size Forecast by Type
9.6.1 Single Acting Mud Pump
9.6.2 Double Acting Mud Pump
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Triplex Mud Pump Market Size Forecast by Applications
9.10.1 Onshore
9.10.2 Offshore
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Triplex Mud Pump Analysis and Forecast
10.1 Introduction
10.2 Europe Triplex Mud Pump Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Triplex Mud Pump Market Size Forecast by Type
10.6.1 Single Acting Mud Pump
10.6.2 Double Acting Mud Pump
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Triplex Mud Pump Market Size Forecast by Applications
10.10.1 Onshore
10.10.2 Offshore
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Triplex Mud Pump Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Triplex Mud Pump Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Triplex Mud Pump Market Size Forecast by Type
11.6.1 Single Acting Mud Pump
11.6.2 Double Acting Mud Pump
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Triplex Mud Pump Market Size Forecast by Applications
11.10.1 Onshore
11.10.2 Offshore
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Triplex Mud Pump Analysis and Forecast
12.1 Introduction
12.2 Latin America Triplex Mud Pump Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Triplex Mud Pump Market Size Forecast by Type
12.6.1 Single Acting Mud Pump
12.6.2 Double Acting Mud Pump
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Triplex Mud Pump Market Size Forecast by Applications
12.10.1 Onshore
12.10.2 Offshore
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Triplex Mud Pump Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Triplex Mud Pump Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Triplex Mud Pump Market Size Forecast by Type
13.6.1 Single Acting Mud Pump
13.6.2 Double Acting Mud Pump
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Triplex Mud Pump Market Size Forecast by Applications
13.10.1 Onshore
13.10.2 Offshore
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Triplex Mud Pump Market: Competitive Dashboard
14.2 Global Triplex Mud Pump Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 National Oilwell Varco
14.3.2 Schlumberger
14.3.3 Gardner Denver
14.3.4 Weatherford International
14.3.5 Flowserve Corporation
14.3.6 Honghua Group
14.3.7 China National Petroleum
14.3.8 Trevi-Finanziaria Industriale
14.3.9 MhWirth
14.3.10 BenTech GmbH Drilling and Oilfield systems
14.3.11 National Oilwell Varco
14.3.12 White Star Pump
14.3.13 Ohara
14.3.14 Herrenknecht Vertical
14.3.15 Mud King Products
