PUBLISHER: IMARC | PRODUCT CODE: 1347447
PUBLISHER: IMARC | PRODUCT CODE: 1347447
Subsea Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Global Subsea Pumps Market Outlook - 2028
The global subsea pumps market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.51% during 2023-2028.
Subsea pumps are motorized devices which are used for underwater operations conducted on the seabed. The device consists of a power generator, conditioner, controller and transmitter. These pumps are utilized to boost production streams and multiphase mixtures of water, gas and oil through helico-axial and centrifugal forces. They can transport untreated hydrocarbons, condensates and solids by applying pressure through the pipelines. They also have a retrievable pump unit and pump base skid that are tied into the production flowline system and are deployed to increase hydrocarbon recovery in low-pressure reservoirs.
The continuously increasing demand for oil and gas from industrial, transportation and residential sectors is one of the major factors driving the market growth. The substantial decline in the shallow and onshore gas reserves has shifted the extraction activities to deep-sea reserves, thereby driving the product demand. Furthermore, significant advancements in subsea technologies, ensuring high operational efficiencies and economic benefits, are also augmenting the market growth. For instance, the Remote Flooding Console (RFC), which utilizes subsea pumps, is used for flooding and pigging operations by small vessels that have minimal desk space. Additionally, the discovery of commercially usable offshore hydrocarbon reservoirs is enhancing the adoption of these pumps across the globe. Also, various product innovations, including the utilization of high voltage motors to prevent voltage drops, the development of large pump hardware with improved capabilities, along with the advancements in pump designs and motor drive resulting in lower weight requirements and the cost-effectiveness of these pumps, are also projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global subsea pumps market report, along with forecasts at the global and regional levels from 2023-2028. Our report has categorized the market based on type and application.
Breakup by Type:
Centrifugal
Helico-Axial
Hybrid Pump
Twin Screw
Co-Axial
ESP (Electrical Submersible Pump)
Breakup by Application:
Subsea Boosting
Subsea Separation
Subsea Injection
Subsea Gas Compression
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being Aker Solutions ASA, Baker Hughes Company, TechnipFMC PLC, Halliburton Company, General Electric Company, Flowserve Corporation, Leistritz Pumps GmbH, Schlumberger Limited, Sulzer Ltd., SPX Corporation, Hayward Tyler Group PLC, National Oilwell Varco, Oceaneering International, Framo AS and ITT Bornemann GmbH etc.
IMARC Group's latest report provides a deep insight into the global subsea pumps market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the subsea pumps market in any manner.
Key Questions Answered in This Report
- 1. What was the size of the global subsea pumps market in 2022?
- 2. What is the expected growth rate of the global subsea pumps market during 2023-2028?
- 3. What are the key factors driving the global subsea pumps market?
- 4. What has been the impact of COVID-19 on the global subsea pumps market?
- 5. What is the breakup of the global subsea pumps market based on the type?
- 6. What is the breakup of the global subsea pumps market based on the application?
- 7. What are the key regions in the global subsea pumps market?
- 8. Who are the key players/companies in the global subsea pumps market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Subsea Pumps Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Type
- 5.5 Market Breakup by Application
- 5.6 Market Breakup by Region
- 5.7 Market Forecast
6 SWOT Analysis
- 6.1 Overview
- 6.2 Strengths
- 6.3 Weaknesses
- 6.4 Opportunities
- 6.5 Threats
7 Value Chain Analysis
8 Porter's Five Forces Analysis
- 8.1 Overview
- 8.2 Bargaining Power of Buyers
- 8.3 Bargaining Power of Suppliers
- 8.4 Degree of Competition
- 8.5 Threat of New Entrants
- 8.6 Threat of Substitutes
9 Market Breakup by Type
- 9.1 Centrifugal
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Helico-Axial
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Hybrid Pump
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Twin Screw
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Co-Axial
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 9.6 ESP (Electrical Submersible Pump)
- 9.6.1 Market Trends
- 9.6.2 Market Forecast
10 Market Breakup by Application
- 10.1 Subsea Boosting
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Subsea Separation
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Subsea Injection
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 10.4 Subsea Gas Compression
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
11 Market Breakup by Region
- 11.1 North America
- 11.1.1 Market Trends
- 11.1.2 Market Forecast
- 11.2 Europe
- 11.2.1 Market Trends
- 11.2.2 Market Forecast
- 11.3 Asia Pacific
- 11.3.1 Market Trends
- 11.3.2 Market Forecast
- 11.4 Middle East and Africa
- 11.4.1 Market Trends
- 11.4.2 Market Forecast
- 11.5 Latin America
- 11.5.1 Market Trends
- 11.5.2 Market Forecast
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 Aker Solutions ASA
- 13.3.2 Baker Hughes Company
- 13.3.3 TechnipFMC PLC
- 13.3.4 Halliburton Company
- 13.3.5 General Electric Company
- 13.3.6 Flowserve Corporation
- 13.3.7 Leistritz Pumps GmbH
- 13.3.8 Schlumberger Limited
- 13.3.9 Sulzer Ltd.
- 13.3.10 SPX Corporation
- 13.3.11 Hayward Tyler Group PLC
- 13.3.12 National Oilwell Varco
- 13.3.13 Oceaneering International
- 13.3.14 Framo AS
- 13.3.15 ITT Bornemann GmbH
List of Figures
- Figure 1: Global: Subsea Pumps Market: Major Drivers and Challenges
- Figure 2: Global: Subsea Pumps Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Subsea Pumps Market: Breakup by Type (in %), 2022
- Figure 4: Global: Subsea Pumps Market: Breakup by Application (in %), 2022
- Figure 5: Global: Subsea Pumps Market: Breakup by Region (in %), 2022
- Figure 6: Global: Subsea Pumps Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 7: Global: Subsea Pumps Industry: SWOT Analysis
- Figure 8: Global: Subsea Pumps Industry: Value Chain Analysis
- Figure 9: Global: Subsea Pumps Industry: Porter's Five Forces Analysis
- Figure 10: Global: Subsea Pumps (Centrifugal) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Subsea Pumps (Centrifugal) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Subsea Pumps (Helico-Axial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Subsea Pumps (Helico-Axial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Subsea Pumps (Hybrid Pump) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Subsea Pumps (Hybrid Pump) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Subsea Pumps (Twin Screw) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Subsea Pumps (Twin Screw) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Subsea Pumps (Co-Axial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Subsea Pumps (Co-Axial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Subsea Pumps (ESP) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Subsea Pumps (ESP) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Subsea Pumps (Subsea Boosting) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Subsea Pumps (Subsea Boosting) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Subsea Pumps (Subsea Separation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Subsea Pumps (Subsea Separation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Subsea Pumps (Subsea Injection) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Subsea Pumps (Subsea Injection) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: Subsea Pumps (Subsea Gas Compression) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: Subsea Pumps (Subsea Gas Compression) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: North America: Subsea Pumps Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: North America: Subsea Pumps Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Europe: Subsea Pumps Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Europe: Subsea Pumps Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: Asia Pacific: Subsea Pumps Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: Asia Pacific: Subsea Pumps Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Middle East and Africa: Subsea Pumps Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Middle East and Africa: Subsea Pumps Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Latin America: Subsea Pumps Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: Latin America: Subsea Pumps Market Forecast: Sales Value (in Million US$), 2023-2028
List of Tables
- Table 1: Global: Subsea Pumps Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Subsea Pumps Market Forecast: Breakup by Type (in Million US$), 2023-2028
- Table 3: Global: Subsea Pumps Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 4: Global: Subsea Pumps Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 5: Global: Subsea Pumps Market: Competitive Structure
- Table 6: Global: Subsea Pumps Market: Key Players
