NA Positive Displacement Pumps Market Size

North America Positive Displacement Pumps Market Analysis

The North America Positive Displacement Pumps Market is expected to register at a CAGR of 4.33% during the forecast period of 2022 - 2027. The COVID-19 pandemic has significantly impacted the region's oil and gas and power generation activities. The decline is caused mainly due to delays in project construction activities and supply chain disruptions, reducing the demand for positive displacement pumps across the region. Moreover, the recovery in the oil and gas industry post the pandemic period bolstered the need for positive displacement pumps due to increased activities in North America.

• The increasing investments in the end-user industries, such as oil and gas, chemical, and power generation, significantly impact the studied market due to the increasing natural gas production. Countries in the region, such as the United States and Canada, have abundant oil reserves and try to utilize their oil sands resources.
• The boom of shale gas in the United States and the stabilizing oil prices are driving the usage of positive displacement pumps in the chemical and oil and gas industries. Additionally, these applications are often exposed to harsher conditions, resulting in low productivity, driving the oil and gas companies to replace existing equipment with advanced technologies.
• Moreover, energy production in the United States continues to expand rapidly. For instance, ExxonMobil, one of the major oil producers in the country, announced its plans to increase the production activity in the Permian Basin of West Texas by producing around 1 million bpd oil equivalent as early as 2024.
• Pipeline construction projects such as Jupiter Pipeline in Texas and Roanoke Expansion Project by Kinder Morgan are some of the projects destined to be completed by the end of 2021. These projects are also expected to create a considerable demand for positive displacement pumps, as a part of systems, in the United States over the next few years.
• Further, the United States also pioneered various solar energy projects and remained a powerhouse in new renewable energy technologies. The US Department of Energy's Energy Information Administration (EIA) estimated that the net capacity of the electric power sector in the country was estimated to be around 1.07 terawatts in 2020 and was expected to increase significantly in the future to reach approximately 1.7 terawatts by 2050.