Global Subsea Pumps Market Analysis 2019
The Global Subsea Pumps market is expected to reach $3,500.23 million by 2026 growing at a CAGR of 13.3% during 2018 to 2026. Subsea single and multiphase pumps are deployed primarily among offshore mature fields to improve the recovery rate by reducing backpressure on the reservoirs, thereby increasing flow rates and total recoverable reserves. Subsea pumps are configured vertically with an oil-filled motor, which is installed at the top and the pump section at the bottom. In addition, Subsea pump allow for boosting either hydrocarbon fluids or water in case of water injection directly on the seabed. Subsea pumps are based on proven and efficient centrifugal pump technology that utilizes various stages of impellers to provide the required pressure increase. Rising Deep-Water Activities combined with Longer Tiebacks, & Recoverable Reserves, Increasing Reserves Access Difficulties and time owing to handling of produced water in proximity to production site. Moreover, Volatile crude oil prices and uncertain offshore drilling investments are restraining the market growth. One of the major opportunities in the market is New Offshore Discoveries that has potential outcome to the market players.
By application, seabed boosting is deployed to make sure the flow of fluids from fields at the essential rate after the natural reservoir pressure declines. It includes seabed multi-phase and down-hole boosting, raw seawater injection, and gas compression. Key drivers that encourage the operators to adopt subsea boosting are the existence of heavy oil, the increased distance from the host, and rise in water depth, lower reservoir pressure, and a greater number of field tiebacks to the host.
The key vendors mentioned are Baker Hughes A GE Co, GE Energy, Aker Solutions ASA, Halliburton Company, Flow Serve, FMC Technologies, OneSubsea, Schlumberger Limited, National-Oilwell Varco Inc., TechnipFMC PLC, Weatherford International PLC, Rongsheng Machinery Manufacture Ltd, Transocean, Oceaneering International and Kerui Group Co. Ltd.
• Hybrid Pump
• Twin Screw
• Electrical Submersible Pump (ESP)
• Gas Compression
• Subsea Injection
• Subsea Boosting
• Subsea Separation
• North America
• Asia Pacific
• South America
• Middle East & Africa
Key Questions Answered in this Report:
• How this market evolved since the year 2016
• Market size estimations, forecasts and CAGR for all the segments presented in the scope
• Key Market Developments and financials of the key players
• Opportunity Analysis for the new entrants
• SWOT Analysis of the key players
• Fastest growing markets analysed during the forecast period
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