Surging gas and oil expenditures and high demand for increasing the production of the current offshore Brownfield and Greenfield projects will drive the market to reach a value worth US$1539.1 million by 2020, from US$975 million in 2013.
Albany, NY -- (SBWIRE) -- 10/12/2015 -- Subsea pumping is one of the most common methods to enhance oil recovery from subsea oil and gas reservoirs. The use of subsea pumps can make the low pressure oilfields viable by boosting their production output. Subsea pumps also extend the life of existing Brownfield oil and gas reservoirs. Rising need to boost the production from existing offshore Greenfield and Brownfield oil and gas projects is expected to drive the demand for subsea pumps in the near future. Furthermore, increasing oil and gas drilling activities and rising oil and gas demand have necessitated the usage of subsea technologies by oil and gas service providers. The subsea pumps market is highly dependent on the development of offshore hydrocarbon reserves across the globe. With the development of subsea technologies and increasing number of subsea projects, the market for subsea pumps is expected to increase substantially during the forecast period. Innovations in the subsea pumping technology have led to rise in demand for subsea pumps.
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This research study is designed to analyze the global market for subsea pumps in terms of revenue (USD Million). The market for subsea pumps has been segmented based on products and applications. The market has also been segmented on a regional level. Regional segments included in this study are North America, Europe, Asia Pacific, Middle East and Africa (MEA), and Latin America. The research provides an in-depth analysis of the total demand for subsea pumps and revenue of the global subsea pumps market. The report features a detailed regional segmentation along with growth forecast for the period from 2014 to 2020. Projections have been provided for both product and application segments under each region. The study on subsea pumps market also provides historical data, detailed analysis, and statistically refined forecast for product, application, and regional segments.
The size of the subsea pumps market has been estimated based on indicators in product, application, and regional segments. The report includes the key market dynamics affecting demand for subsea pumps globally. In order to study the market dynamics, we have analyzed market drivers, market restraints, and market opportunities. A comprehensive competitive landscape, which includes company market share analysis and market attractiveness analysis, has been also provided in this report. The report also provides detailed industry analysis of the global subsea pumps market with the help of Porter's Five Forces model. This model helps understand the five major factors that affect the industry structure and profitability in the global subsea pumps market. Bargaining power of buyers, bargaining power of suppliers, threat from new entrants, threat from substitutes, and degree of competition are the forces analyzed through the model.
The study also includes the value chain of the global subsea pumps market, which provides a glimpse of the upstream, midstream, and downstream players involved in the business as well as their interaction with end-users of subsea pumps. Company market share analysis has been conducted considering the company-wise revenue and upcoming subsea pump projects by the company. The attractiveness analysis involves benchmarking and ranking each product and region on the basis of numerous parameters. The parameters selected are likely to significantly affect demand for each product in the current scenario as well as in the near future.
The product and application segment analysis has been done, both on a global and regional level. The overall subsea pumps market, based on the product, has been segmented into helico-axial, electrical submersible pump (ESP), centrifugal, and others. The other segment includes twin screw, hybrid, and counter-axial subsea pumps. The primary applications of subsea pumps identified in this market study include subsea boosting, subsea separation, subsea compression, and subsea injection.
Key participants in the global subsea pumps market include FMC Technologies, Inc., Aker Solutions ASA, OneSubsea, General Electric Company, and Baker Hughes Incorporated. Other key players included in the report are Flowserve Corporation, ITT Bornemann GmbH, SPX Corporation, Sulzer Ltd., and Leistritz AG. This report provides an overview of these companies, followed by their financial revenue, business strategies, and recent developments.
Global Subsea Pumps Market: Product Segment
Electrical Submersible Pump (ESP)
Others (Twin Screw, Hybrid and Counter-axial)
Global Subsea Pumps Market: Application Segment
Global Subsea Pumps Market: Regional Segment
Middle East and Africa (MEA)
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