"Actionable Insights to Fuel Your Growth"

Subsea Pumps Market Size, Share And Global Trend By Type (Helico-Axial Pumps,Twin Screw Pumps,Hybrid Pumps, Electrical Submersible Pumps, Centrifugal Pumps, Others), By Application (Subsea Boosting, Subsea Injection, Subsea Separation, Subsea Compression), And Geography Forecast Till 2026

Region : Global | Published Date: Upcoming | Report ID: FBI100565| Status : Upcoming

 

KEY INDUSTRY INSIGHTS

The exploration and production of hydrocarbons are being carried out at large scale to meet the increasing demand for oil and gas. The continuous onshore exploration has led to the depletion of hydrocarbons stressed on the need for offshore exploration. Offshore E&P is competently developed since the last couple of decades due to technological advancement and more importantly subsea pumps. Pumps are inherently designed to boost either hydrocarbon or water (in case of water injection) directly to the seabed when the reservoir pressure is not high enough. Subsea pumps are quintessential in handling high suction gas volume fraction (GVF), accelerating production, stabilizing flow in wells that cannot naturally produce to remote facilities, reducing well intervention and subsea cost.

The classification of the subsea pump is done on the basis of type i.e. helico-axial pumps, twin screw pumps, hybrid pumps, electrical submersible pumps, centrifugal pumps, and others. Each pump has its own preferred application area however for subsea application project economics and pumps reliability is utmost priority owing to the expensive nature of the subsea operation. Both HAP and TSP have the ability to handle 100% gas volume fraction (GVF), highly viscous fluid and have the potential to resist corrosion. They are also used in water injection to increase pressure to stimulate production and also employed in separating oil and liquid phase i.e. subsea separation.

To get information on various segments, share your queries with us

The unwavering demand for oil and gas due to industrial and commercial development which persistently depleting shallow water and onshore oil & gas reserves compelling companies to focus on deepwater exploration which is driving the subsea pump market. Advancement in technology and improved performance of pumping with rising production of shale gas has increased the utilization of subsea pumps, tools, and equipment for the production of oil and gas.

Extreme and severe environmental condition not only thwart the operational capability of a production facility but also leads to major financial losses. Also, due to salinity water pump material may corrode which leads to weakening the production facility system.  

Key Players Covered

The leading companies in subsea pumps are One Subsea, Aker Solutions, Flowserve Corporation, FMC Technologies, Sulzer, Baker Hughes Incorporated, General Electric, Weatherford International, ITT Bornemann, Leistritz Group, Haliburton, and National Oilwell Varco.

SEGMENTATION

SEGMENTATION

 DETAILS

By Type

·      Helico-Axial Pumps (HAP)

·      Twin Screw Pumps (TSP)

·      Hybrid Pumps

·      Electrical Submersible Pumps (ESP)

·      Centrifugal Pumps

·      Others

By Application

·      Subsea Boosting

·      Subsea Injection

·      Subsea Separation

·      Subsea Compression

By Geography

·      North America (USA and Canada)

·      Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

·      Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

·      Latin America (Brazil, Mexico and Rest of Latin America)

·      Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

                       

Regional Analysis

The global subsea pumps market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The increasing development in deepwater production of oil and gas in North America which is playing a leading role in extensive growth of the subsea pumps market. Gulf of Mexico (GoM) is an ocean basin typical for deepwater exploration of hydrocarbons. The United States has the largest number of active drilling rigs in the Gulf of Mexico (GoM) which is driving the market for subsea pumps in the region. Europe is privileged with ocean area and countries like Norway, United Kingdom, Germany, Denmark, Sweden, and Netherland are primarily engaged in offshore activities in the North Sea which increase the demand for subsea pump market. The Asia Pacific has witnessed the fastest economic growth of all regions of the world over the last decade. The region is witnessing increasing import dependence for oil and gas due to rising energy consumption which is driven by rapid economic development. Due to this dependence, countries have taken a multipronged approach to ensure energy security. Key steps include increasing the domestic production of oil and gas through development in unconventional production i.e. offshore production which is expected the persistent growth of subsea pumps market in the Asia Pacific. Government and private entities in Middle Ease showing a keen interest in developing offshore production to increase their production of oil and gas driving the subsea pumps market in the Middle East.

Key Industry Developments

  • In April 2019, To mitigate the space limitation and cost of multiphase pumps Aker Solutions in association with FSubsea agreed to create game-changing Hydromag technology with the world’s first “topside-less” multiphase boosting system.
  • In March 2019, Seatec has received an order for design and delivery of 4 submersible pump systems. All four pumps will be equipped with special hydraulic motor, ROV and various electrical sensors plus valves.
  • In May 2018, Conoco Phillips becomes the latest member to join Joint Industry Project (JIP) which aims to transform pumps for seabed and unmanned platforms.

Subsea Pumps Market  Size, Share and Global Industry Trend Forecast till 2026
  • PDF
  • 2018
  • 2014-2017

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Energy & Power Clients

reliance
omron
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X