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Subsea Pumps Market worth $1,773.7 Million in 2020
The report "Subsea Pumps Market by Type (Helico-Axial, ESP, Centrifugal, Twin-Screw, Hybrid, Counter-Axial), Application (Subsea Boosting, Subsea Injection, Subsea Separation, Subsea Gas Compression), & by Region - Global Trends & Forecast to 2020", defines and segments the subsea pumps market with analysis of market size, market share of leading players, and forecast for future trends. It also identifies the driving forces, restraining factors, and challenges for the market, highlighting the latest trends, and identifying opportunities. The forecasts and estimations are done considering the current industry scenario and the future forecasts for the investments in the offshore industry
Browse 69 market tables and 55 figures spread through 158 pages and an in-depth TOC on “Subsea Pumps Market by Type (Helico-Axial, ESP, Centrifugal, Twin-Screw, Hybrid, Counter-Axial), Application (Subsea Boosting, Subsea Injection, Subsea Separation, Subsea Gas Compression), & by Region - Global Trends & Forecast to 2020”
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In 2014, South America was the single largest regional market for subsea pumps across the globe and accounted for a market share of 31% by value. Offshore fields in the region have seen huge investments for new projects as well as mature assets in the past years. This trend is expected to continue after the oil prices return to normal. It is expected to reach around $80/bbl by the end of 2016.
Subsea Pumps Market Size, 2015-2020 ($Million)
Source: Company Annual Reports, Press Releases, and MarketsandMarkets Analysis
The global subsea pumps market is projected to grow at a CAGR of 11.3% from 2015 to 2020, reaching a value of $1,773.7 Million in 2020. With depleting onshore reserves in many regions and vast reserves present in the sea beds, the offshore exploration and production activities are bound to increase during the forecast period. Brazil, West Africa, and Mozambique regions are expected to be the high growth avenues for the subsea pumps market.
Leading players in the global subsea pumps market include OneSubsea (U.S.), FMC Technologies (U.S.), Aker Solutions (Norway), General Electric (U.S.), and Baker Hughes (U.S.), among others. Players in the global subsea pumps market make investments in R&D to enhance the efficiency of their products. These companies are expanding into new territories to take advantage of opportunities in the regions of West Africa, Europe, and South America through joint-ventures, mergers and acquisitions, and partnerships. This will help them in minimizing the risk associated with high capital investments in the offshore and oil price dependent projetcs.
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