Subsea Pumps Market Outlook
Subsea pumps are motorized devices that are deployed in mature offshore fields for improving the recovery rate by reducing back-pressure on the reservoir, thereby lowering the production costs. These pumps consist of a transmitter, controller, power conditioner, and generator as standard components. They further comprise a retrievable pump unit and base skid that is integrated with the production flowline system. Subsea pumps use centrifugal and helical-axial forces to create streams and multiphase mixtures of water, gas, and oil.
Apart from this, they offer optimal safety performance, enable field management remotely and improve hydrocarbon recovery in low-pressure reservoirs and can transport untreated condensates, and solids. Consequently, subsea pumps are used in various underwater operations on the seafloor.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Subsea Pumps Market Trends:
The ongoing offshore exploration activities, the increasing demand for oil and gas as energy sources across diverse industries, and the rising need to produce shale gas are primarily driving the global subsea pump market. In line with this, the extensive product deployment to improve efficiency and keep operations financially sustainable and manage high suction gas volume fraction (GVF) is favoring the market growth.
Moreover, significant technological advancements, such as the advent of off-the-shelf and scalable subsea pumps to operate as a feasible alternative to umbilical-delivered injections, are impelling the market growth. Besides this, the extensive usage of high-voltage motors to prevent voltage drops, the development of large pump hardware with enhanced capabilities, and upgrades in product designs and motor drives are propelling the market growth.
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In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The report has also analyzed the competitive landscape of the market with some of the key players.
- Aker Solutions ASA
- Baker Hughes Company
- TechnipFMC PLC
- Halliburton Company
- General Electric Company
- Flowserve Corporation
- Leistritz Pumps GmbH
- Schlumberger Limited
- Sulzer Ltd.
- SPX Corporation
- Hayward Tyler Group PLC
- National Oilwell Varco
- Oceaneering International
- Framo AS
- ITT Bornemann GmbH etc.
Key Market Segmentation:
The report has categorized the market based on type, application and region.
Breakup by Type:
- Centrifugal
- Helico-Axial
- Hybrid Pump
- Twin Screw
- Co-Axial
- ESP (Electrical Submersible Pump)
Breakup by Application:
- Subsea Boosting
- Subsea Separation
- Subsea Injection
- Subsea Gas Compression
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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