Global Subsea Pumps Market 2015-2019
About Subsea Pumps
Subsea pumps are used in the Oil and Gas industry to enhance oil recovery and to maintain the flow of fluids in subsea production systems. These pumps accelerate the production process and improve the flow assurance in subsea oil and gas reservoirs. With the development of subsea infrastructure and increasing number of subsea projects, the adoption of subsea pumps is expected to increase substantially in the future.
TechNavio's analysts forecast the Global Subsea Pumps market to grow at a CAGR of 18.9 percent over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the Global Subsea Pumps market for the period 2015-2019. The market can be segmented into four: Helico-axial, Electrical Submersible, Centrifugal, and Others. TechNavio's report, the Global Subsea Pumps Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and EMEA regions; it also covers the Global Subsea Pumps market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.Key Regions
Technavio Announces the Publication of its Research Report – Global Subsea Pumps Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Subsea Pumps Market: Aker Solutions, Flowserve, FMC Technologies, GE Energy and OneSubsea
Other Prominent Vendors in the market are: National Oilwell Varco, Oceaneering International and Transocean.
Commenting on the report, an analyst from Technavio’s team said: “One major trend emerging in the market is the rapid advances in technology. The use of advanced booster pumps and permanent magnet motors that improve the speed, flow regulation, and efficiency of a pump are the most notable developments that would bode well for the market growth in the future.”
According to the report, maturation of onshore oil reserves, which leads to a shift and investment in offshore production from the conventional onshore production, predominantly drives the market growth. As a result, governments worldwide are focusing on upgrading subsea pump technologies to increase their overall oil and gas production.
Further, the report states that one key challenge that the market faces is the increase in the prices of raw materials used to manufacture the pumps. High technical expertise and expensive raw materials are required to build subsea pumps that can withstand harsh subsea weather conditions, which increases the overall cost of the system.
Aker Solutions, Flow Serve, FMC Technologies, GE Energy, OneSubsea, National Oilwell Varco, Oceaneering International, Transocean