Nov 1, 2018   SOURCE: BusinessWire

Subsea Pumps Market Report 2018 - Global Industry Analysis, Trends, Market Size and Forecasts up to 2024 - ResearchAndMarkets.com

The "Subsea Pumps Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024" report has been added to ResearchAndMarkets.com's offering.

The report predicts the global subsea pumps market to grow with a CAGR of 5.6% over the forecast period of 2018-2024.

The report on global subsea pumps market provides qualitative and quantitative analysis for the period of 2016 to 2024. The study on subsea pumps market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific and RoW for the period of 2016 to 2024.

Increasing energy demand has resulted in high offshore production investment along with maturing onshore oilfields, which in turn, are the major factors driving the growth of the subsea pumps market. In addition, a decline of shallow and onshore gas reserves are forcing the companies to increase their focus on deep-water reserves thus enhancing the market growth. Owing to the handling of produced water in proximity to the production site, the operation cost and time are reduced this in turn, is anticipated to boost the growth of the subsea pumps market. On the other hand, strict government laws on oil explorations hinder the growth of the market.

Furthermore, the growing requirement of fuel the production of the already present brownfield oil and gas projects are positively influencing the growth of the market. On the other hand, offshore Greenfield will also contribute; it's positively influence for the market development. Moreover, the developments in subsea technologies ensure top abilities and huge economic benefits, thus the oil and gas reserves and the newly discovered oilfields are gaining several opportunities for the key players in the subsea pumps market over the years to come.

Among the geographies, Americas dominated the subsea pumps market. Moreover, Latin America is anticipated to witness the largest share owing to the significant development observed in subsea exploration and production activities and due to increasing offshore exploration along the Gulf of Mexico. Hence, this region is anticipated to remain the dominant region over the forecast period. Moreover, increasing oil production in Eastern Europe particularly in Russia is expected to drive the European market. In order to meet this energy demand, the exploration & production activity, including offshore is expected to increase in China, which in turn is expected to drive the market for subsea pumps in the Asia Pacific regions.

Segment Covered

Global Subsea Pumps Market by Application

  • Subsea Boosting
  • Subsea Separation
  • Subsea Injection
  • Subsea Gas Compression

Global Subsea Pumps Market by Type

  • Helico-axial
  • Centrifugal
  • Twin Screw
  • Hybrid
  • Counter-axial
  • Others

Company Profiles

  • Aker Solutions ASA
  • Baker Hughes A GE Co
  • Halliburton Company
  • Schlumberger Limited
  • Weatherford International PLC
  • National-Oilwell Varco Inc.
  • Oceaneering International
  • TechnipFMC PLC
  • Kerui Group Co. Ltd
  • Rongsheng Machinery Manufacture Ltd

For more information about this report visit https://www.researchandmarkets.com/research/rbwph9/subsea_pumps?w=4