Subsea Pumps Market Size, Share, Global Industry Report and Forecast 2020-2025

(SUPER MARKET RESEARCH via Comtex)

The global subsea pumps market is expected to grow at a CAGR of 6.8% during 2020-2025., according to the latest report by IMARC Group.

A subsea pump is a motorized device that is used to boost, separate, inject and compress unprocessed seawater onto the seabed. These pumps apply pressure through pipelines to boost multiphase mixtures of water, gas and oil along with production streams, untreated hydrocarbons, condensates and solids. Currently, helico-axial, Electrical Submersible Pump (ESP), centrifugal, twin screw, hybrid and counter-axial pumps are the common types of subsea pumps available in the market. They aid in improving oil and gas discovery and cost-efficiency while minimizing the formation of hydrate in the flow lines.

Global Subsea Pumps Market Trends:

The global market is driven by the rising exploration activities of deep-sea reserves, along with the continuously increasing demand for oil and gas from both the residential and industrial sectors. Furthermore, a significant decline in the on-shore and shallow gas reserves has shifted the extraction activities to deep-sea reserves, which is also providing a boost to the product demand. Other factors, including the discovery of commercially usable offshore hydrocarbon reservoirs and technological advancements ensuring higher operational efficiencies, are projected to drive the market further.

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.

Global Subsea Pumps Market 2020-2025 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of the major players operating in the industry include:

Aker Solutions (AKSO.OL)
Baker Hughes (NYSE: BKR)
FMC Technologies
Halliburton
General Electric Company (NYSE: GE)
Flowserve
Leistritz Pumps GmbH
OneSubsea
Sulzer
SPX Corporation
Hayward Tyler Group
National Oilwell Varco
Oceaneering International
Framo AS
ITT Bornemann GmbH

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The report has segmented the market on the basis of Type, Application, and Region.

Market Breakup by Type:

Centrifugal
Helico-Axial
Hybrid Pump
Twin Screw
Co-Axial
ESP (Electrical Submersible Pump)

Market Breakup by Application:

Subsea Boosting
Subsea Separation
Subsea Injection
Subsea Gas Compression

Market Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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