Transparency Market Research’s (TMR) recent market study on the
global subsea pumps market provides valuable insights into the
developments of the market between 2014 and 2020. Subsea pumping is
commonly used for increased oil recovery from subsea oil and gas
reservoirs, especially in low-pressure oil fields. Due to the
increased utilization of subsea technologies in offshore hydrocarbon
exploration projects, the subsea pumps market will rise at a healthy
7.10% CAGR from 2014 to 2020 to reach a valuation of US$1.5bn by the
end of the forecast period.
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Sample Of This Research Report At:
The global subsea pumps market was valued at US$0.9bn in 2013.The
report is titled “Subsea Pumps Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2014 - 2020” and is
available for sale on the company website.
The report points out that the high economic benefits and flawless
operational capabilities of advanced subsea pumps are the major
factors behind the rising demand for these products across the world.
The utilization of subsea pumps is aiding in extending the life of
existent gas and brownfield repositories, which, combined with the
demand for boosting production of existent projects, is bolstering
growth of the global subsea pumps market.However, fluctuating prices
of oil and gas will hamper the market’s growth to some extent. To
counter this, market players can depend on newly discovered oilfields
and a large number of untapped oil and gas reserves that will drive
this market in the years to come.
The report divides the global subsea pumps market on the basis of
product type, application, and region. By product, electrical
centrifugal, helicon-axial, submersible pump, and others are the
segments of this market. Of these, it is the helicon-axial product
segment that dominated the overall market in 2013. The product
segment enjoyed dominance due to the extensive use of helicon-axial
subsea pumps in boosting oil and gas operations. For the forecast
period from 2014 to 2020, the demand for helicon-axial pumps will
remain the highest, says the report. In 2013, electrical submersible
pumps held the second largest share in the overall market.
Application-wise, subsea separation, subsea injection, subsea
compression, and subsea boosting are the segments of the market.
Amongst all, subsea boosting accounted for the largest share of the
subsea pumps market in 2013 and will continue to be the dominant
segment during the forecast period. In current times, increasing
governmental expenditures for offshore exploration and production has
been the major factor responsible for the high demand for subsea
boosting applications, thereby benefitting the global subsea pumps
market.
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The Full Research Report At:
The report divides the global subsea pumps market is divided into the
regional segments of North America, Asia Pacific, Latin America,
Europe, and the Middle East and Africa. In 2013, Latin America stood
as the largest regional segment due to the development of exploration
and production projects in deepwater pre-salt reservoirs off the
coast of Brazil.
The
global subsea pumps market is segmented as follows.
Global
Subsea Pumps Market: Product Segment
- Helico-axial
- Electrical Submersible Pump (ESP)
- Centrifugal
- Others (Twin Screw, Hybrid and Counter-axial)
Global
Subsea Pumps Market: Application Segment
- Subsea Boosting
- Subsea Separation
- Subsea Compression
- Subsea Injection
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