DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/nqrk64/subsea_pumps) has announced the addition of the "Subsea Pumps Market by Type, by Application & by Geography - Global Trends & Forecast to 2018" report to their offering.
The Subsea Pumps Market is estimated to reach $2,092.1 million by 2018 with a CAGR of around 16% from 2013 to 2018
This report estimates the subsea pumps market in terms of value. The value market is estimated in terms of number of subsea processing projects already underway and the upcoming per year, and value in terms of contract value. This has been broken down into regions, type of pumps and is also split into subsea applications.
Subsea pumps are required for oil and gas development. The ever-increasing offshore exploration and production activities across the globe and the drilling activities at ultra-deep water depths are driving the market. However, issues associated with the environment, geopolitical turmoil, and a lack of skilled professionals, are affecting growth. Helico-Axial has the highest current market share in the subsea pumps market, followed by ESP pumps.
Subsea pumping consists of a range of technologies to allow production from offshore wells without needing surface production facilities. The most important benefits from using these technologies include production boosting, improved oil and gas recovery, increased Net Present Value (NPV), reduced surface production facility costs, and the lower likelihood of gas hydrate formation in flowlines.
The number of existing and proposed subsea pumps projects has increased over the last few years. A majority of these units were awarded prior to the recent decline in offshore activities caused by the global economic downturn, pressures on the supply chain, and oil price volatility. Therefore, as a result of the timing of the contracts, several projects have gone ahead despite these conditions.
Latin America dominates the current global subsea pumps market due to maximum number for the subsea pumps projects. The subsea pumps market is segmented into five regions namely U.S., Latin America, Europe, Africa, and Asia-Pacific. The floating production systems market is further segmented by types, water depths, and build.
The report also touches upon various important aspects of the market. These include analysis of the value chain, Porter's Five Forces model, the competitive landscape. In addition to this, 10 key players of this market have also been profiled.
Subsea Pumps Market Scope
- Type (Helico-Axial, ESP, Centrifugal, Twin-Screw, Hybrid, Counter-Axial)
Application (Subsea Boosting, Subsea Injection, Subsea Separation,
Subsea Gas Compression)
- Aker Solutions
- Baker Hughes
- Fmc Technologies Inc.
- GE Oil & Gas
- ITT Bornemann
- Leistritz Ag
- SPX Corporation
- Sulzer Ltd
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