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London.- Technavio has announced the top five leading vendors in their recent global pumps market for the oil and gas industry report until 2020. This research report also lists eight other prominent vendors that are expected to impact the market during the forecast period.
The oil industry is currently in need of improved and enhanced oil recovery processes. The global crude production increased significantly due to the emergence of innovations such as horizontal drilling, hydraulic fracturing, and seismic imaging. Companies in the oil and gas industry are emphasizing on increasing productivity from existing wells. This is creating new demand for pumps, which is driving market growth.
