The growing demand of energy with the increasing investments in offshore exploration and production activities is expected to drive the global subsea pumps market. It is estimated to reach $2,092.1 million by 2018 with a CAGR of around 16% from 2013 to 2018.
Dallas, TX -- (SBWIRE) -- 06/16/2014 -- The report "Subsea Pumps Market By Type (Helico-Axial, ESP, Centrifugal, Twin-Screw, Hybrid, Counter-Axial), By Application (Subsea Boosting, Subsea Injection, Subsea Separation, Subsea Gas Compression), & By Geography - Global Trends & Forecast to 2018 " ,defines and segments the subsea pumps market with the analysis and forecast of the global revenue.
Browse 62 market data tables and 33 figures spread through 171 pages and in-depth TOC on "Subsea Pumps Market - Global Trends & Forecast to 2018 "
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The subsea pumps market is valued at $996.1 million in 2013 and is forecasted to grow at a CAGR of 16% from 2013 to 2018 to reach $2,092.1 million by 2018.
The subsea pumps market is likely to grow reasonably in the coming years. The long-term drivers of the subsea pumps market are well known. The relentless depletion of onshore and shallow-water fields has compelled oil companies to focus on deep-water areas where a combination of floating and subsea systems are used to extract hydrocarbons. In recent years, this trend has been reinforced by operators who favor technological risks over political risks, with oil companies preferring to leverage their technological capabilities in deeper waters rather than engage in places such as Iran and Venezuela that have an unpredictable business environment for investors.
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This report breaks the market into smaller product segments. In order to provide a deeper understanding of the competitive landscape, the report profiles 10 companies in the subsea pumps market.
The companies from the global subsea pumps market are expanding into emerging markets like Latin America, Asia Pacific Europe, U.S. Technological advancement and innovative new pumping system technologies are some of the crucial strategies that are helping companies maximize their revenues.
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