According to a report by The Brainy Insights, the global oil and gas pumps market is anticipated to expand from $8.32 billion in 2022 to $13.15 billion by 2032, growing at a CAGR of 4.70% during 2023 - 2032. The Asia Pacific region has seen the most growth. In economies like India and China, pumps are being used more in the downstream market, increasing petroleum refining. New pipelines planned in the Middle East & Africa and Asia Pacific will boost pump use in the mid - stream sector. Key players are using strategies like product innovation and mergers to gain a stronger market position. For instance, in March 2023, KSB acquired Bharat Pumps and Compressors’ technology, helping it gain more market share in the oil and gas pumps market.