Global Subsea Pump Market Size, Share, COVID-19 Impact, Opportunities, And Trends By Type (Electrical Submersible, Helico-Axial, Counter Axial, Hybrid, Twin Screw), By Application (Injection, Boosting, Separation, Gas Compression), And By Geography - Forecasts From 2023 To 2028
- Published : Feb 2023
- Report Code : KSI061611350
- Pages : 114
Offered with this report
Market Data and Estimates in Excel
2 Months of Post Sale Analyst Support
Requirement Specific Customization
The global subsea pump market will witness robust growth over the forecast period. The subsea pump market is driven by increasing demand for energy owing to the increasing population across the globe. The Discovery of hydrocarbon reservoirs and commercially viable oilfields in deep water is significantly pushing the demand for the subsea pump market. Moreover, increasing the commercialization of low-cost boosting systems is significantly reducing operational costs, increasing revenues, and thereby augmenting high rates of return. Continuous increase in exploration activities is also augmenting the demand for subsea pumps. Furthermore, simplified installation and interventions coupled with low-risk factor and complexity is also driving the market for subsea pumps across all geographical segments.
However, the installation of subsea pumps is affecting marine lives in side deepwater, and related environmental issues will restrain the market during the forecast period. Moreover, the overall growth for the subsea pump market will experience slow growth owing to the inadequately skilled workforce. Despite these restraints, this market has some better opportunities which will push its growth to new heights. Huge investment opportunities in pump manufacturing coupled with increasing drilling activities under the water will heighten the growth of the subsea pump market across all geographical regions.
On the basis of type, the global subsea pump market can be segmented as electrical submersible, helio-axial, counter-axial, hybrid, centrifugal, and twin screw. Centrifugal pumps have the highest differential pressure capability among the pump types and can handle low gas fraction volume. It also maintains the reservoir pressure and improves reservoir sweep when used to inject water. Hybrid pumps, a combination of centrifugal and helio-axial impeller stages, have the capability of achieving higher efficiency and boost over helio-axial technology. Hybrid pumps are successfully applied in gas or liquid separation projects where the liquid is boosted. Helio-axial has simple operation and has low-cost intervention as compared to other pumps.
On the basis of geography, the subsea pump market is segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and South America. North America holds a significant share of the global subsea pump market owing to the early and rapid adoption of advanced technologies and high investment made in research and development. Increasing demand for various sources of energy will remarkably heighten the market for subsea pumps in the Asia Pacific. Moreover, continuous oil explorations in Western Europe will augment the growth of the subsea pump market across Europe.
Competitive Landscape
The Subsea pump market is highly competitive due to the presence of well-diversified international, and regional. However, some big international players dominate the market share owing to their brand image and market reach. With a high market growth rate and increase in demand, this sector is attracting more players to enter into the market resulting in a more competitive subsea pump market. The competitive landscape provides the strategy and investment details in order to boost their presence.
Some of the key players in the Subsea pump market included in the report are TechnipFMC plc, Hayward Tyler Limited, Flowserve Corporation, General Electric Company, and Aker Solutions, Sulzer Limited, and SPX Corporation among others.
Segmentation
The Subsea pump market has been segmented on the basis of type, application, and geography.
- By Type
- Electrical Submersible
- Helico-Axial
- Counter Axial
- Hybrid
- Twin Screw
- By Application
- Injection
- Boosting
- Separation
- Gas Compression
- By Geography
- North America
- South America
- Europe
- Middle East and Africa
- Asia Pacific
1.1. Market Definition
1.2. Scope of the study
1.3. Currency
1.4. Assumptions
1.5. Base, and forecast year timeline
2. Research Methodology
2.1. Research Design
2.2. Secondary Sources
2.3. Validation
3. Key findings of the study
4. Market Dynamics
4.1. Drivers
4.2. Restraints
4.3. Opportunities and Market Trends
4.4. Market Segmentation
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Industry Value Chain Analysis
4.7. Industry Regulations
4.8. Scenario Analysis
5. Global Subsea pump Market Forecast by Type(US$ billion)
5.1. Introduction
5.2. Electrical Submersible
5.3. Helico-Axial
5.4. Counter-Axial
5.5. Hybrid
5.6. Centrifugal
5.7. Twin-Screw
6. Global Subsea pump Market Forecast by Application(US$ billion)
6.1. Introduction
6.2. Injection
6.3. Separation
6.4. Boosting
6.5. Gas Compression
7. Global Subsea pump Market Forecast by Geography (US$ billion)
7.1. Introduction
7.2. North America
7.3. South America
7.4. Europe
7.5. Middle East and Africa
7.6. Asia-Pacific
8. Competitive Intelligence
8.1. Market Share Analysis
8.2. Strategies of Key Players
8.3. Recent Investment and Deals
9. Company Profiles
9.1. TechnipFMC plc
9.1.1. Overview
9.1.2. Financials
9.1.3. Product and Services
9.1.4. Key Developments
9.2. Hayward Tyler Limited
9.2.1. Overview
9.2.2. Financials
9.2.3. Products and Services
9.2.4. Key Developments
9.3. Flowserve Corporation
9.3.1. Overview
9.3.2. Financials
9.3.3. Products and Services
9.3.4. Key Developments
9.4. General Electric Company
9.4.1. Overview
9.4.2. Financials
9.4.3. Products and Services
9.4.4. Key Developments
9.5. Aker Solutions
9.5.1. Overview
9.5.2. Financials
9.5.3. Products and Services
9.5.4. Key Developments
9.6. SPX Corporation
9.6.1. Overview
9.6.2. Financials
9.6.3. Products and Services
9.6.4. Key Developments
9.7. Schlumberger Limited
9.7.1. Overview
9.7.2. Financials
9.7.3. Products and Services
9.7.4. Key Developments
9.8. Sulzer Limited
9.8.1. Overview
9.8.2. Financials
9.8.3. Products and Services
9.8.4. Key Developments
9.9. Leistritz Advanced Technologies Corp.
9.9.1. Overview
9.9.2. Financials
9.9.3. Products and Services
9.9.4. Key Developments
9.10. Fuglesangs Subsea AS
9.10.1. Overview
9.10.2. Financials
9.10.3. Products and Services
9.10.4. Key Developments
TechnipFMC plc
Hayward Tyler Limited
Flowserve Corporation
General Electric Company
Aker Solutions
SPX Corporation
Schlumberger Limited
Sulzer Limited
Leistritz Advanced Technologies Corp.
Fuglesangs Subsea AS
Related Reports
| Report Name | Published Month | Get Sample PDF |
|---|---|---|
| Heat Pumps Market Size, Share & Growth: Report, 2022 - 2027 | Nov 2022 | |
| HVAC Insulation Market Size & Share: Industry Report, 2022 - 2027 | Aug 2022 | |
| Subsea Systems Market Size & Growth: Industry Report, 2023-2028 | Dec 2023 | |
| Cryopumps Market Size, Share & Trends: Industry Report, 2021-2026 | Sep 2021 | |
| Subsea Manifolds Market Size & Share: Industry Report, 2024-2029 | Mar 2024 |