Global Subsea Pump Market by Production Applications (Separations, Injections, Boosting, and Others), Geography (Europe, Asia-Pacific, South America, North America, and Middle East & Africa) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global subsea pump market size is expected to expand at a robust CAGR during the forecast period, 2021-2028. The growth of market is attributed to growing demand for oil & gases, fluctuation in oil prices, and number of onshore field reaching the maturity level are increasing rapidly.
However, from the last few years crude oil has shown high fluctuation in prices because of the demand supply gap, geopolitics and various other external factors which also act as a hindrance in the market growth.
The oil and gas industry is majorly focusing on developing new techniques and technologies that allow them to expand their profit sharing margin from existing brown fields and new assets by enhancing their production yield.
In the recent years offshore activities witnesses a significant growth in the segment which is attracting new investors on a large scale.
The offshore oil and gas reserves constitute a majority of FIDs preceding last three years. It was also expected that the global deepwater liquid production will reach approximately 10 million bbl/d in 2019, when compared to 2018 it is approximately 700000 bbl/d increase.
Moreover, it can be estimated that with the growing investment, exploration, and production of oil from new fields the deepwater segment is anticipated to dominate the market during the projected period.
Furthermore, with the unwavering demand for oil and gas owing to industrial and commercial development which constantly shallow water and onshore oil & gas reserves forcing companies to focusing more on deepwater exploration which augment the subsea pump segment.
Market Trends, Drivers, Restraints, and Opportunities
- R&D and technological advancement towards improving the performance of pumping is estimated to surge the market in the coming years.
- Rising production of shale gas increased demand for subsea pump, tools, and equipments for the production of oil and gas is anticipated to propel the market during the forecast period.
- Increasing offshore investments is estimated to boost the market during the projected period.
- Growing offshore exploration and production activities is estimated to impel the market in the coming years.
- Increasing investment in advanced technologies and techniques to reduce the overall cost of offshore expenditure is anticipated to drive the market during the forecast period.
- Vulnerable against the severe environmental conditions baffles the operational activities which also leads to major financial losses act as a factor that can hinder the growth of the market in the coming years.
- Lack of awareness about the water salinity level which is capable to corrode the production line system possesses a challenge that can impede the market growth during the forecast period.
Scope of the market
The report on the global subsea pump market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Subsea Pump Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Applications (Separations, Injections, Boosting, and Others) |
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Regional Scope |
Europe, Asia-Pacific, South America, North America, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Schlumberger Limited; Baker Hughes Co.; Oceaneering International Inc.; Aker Solutions ASA; Halliburton Company. |
Market segment insights
The injection segment is expected to hold a major share of the market
Based on applications, the market is segregated into separations, injections, boosting, and others. The injection segment is expected to hold major share of the market in the coming years due application primarily used for extraction of oil application such as HAP and TSP can be integrated with the segment which helps in stimulating the production of oil.
South America is anticipated to dominate the market
In the terms of regions, the market is classified as Europe, Asia-Pacific, South America, North America, and Middle East & Africa. South America is anticipated to dominate the market during the projected period due to rising demand for energy, major investors & companies focusing more on deepwater activities, which make the region potential enough to guarantees the oil and supply for few decades, along with adoption of new technologies, constant high demand for subsea pumps, rising investments, and upcoming project are some of the reasons that makes the region more dominant as compared to others.
Segments
Global subsea pump market has been fragmented on the basis ofApplication
- Separations
- Injections
- Boosting
- Others
- Europe
- Asia-Pacific
- South America
- North America
- Middle East and Africa
- Schlumberger Limited
- Baker Hughes Co.
- Oceaneering International Inc.
- Aker Solutions ASA
- Halliburton Company.
Competitive Landscape
Key players competing in the global subsea pump market include Schlumberger Limited; Baker Hughes Co.; Oceaneering International Inc.; Aker Solutions ASA; Halliburton Company.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Subsea Pump Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Subsea Pump Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Subsea Pump Market - Supply Chain
4.5. Global Subsea Pump Market Forecast
4.5.1. Subsea Pump Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Subsea Pump Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Subsea Pump Market Absolute $ Opportunity
5. Global Subsea Pump Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Subsea Pump Market Size and Volume Forecast by Applications
5.3.1. Separations
5.3.2. Injections
5.3.3. Boosting
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Subsea Pump Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Subsea Pump Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Subsea Pump Demand Share Forecast, 2019-2026
7. North America Subsea Pump Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Subsea Pump Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Subsea Pump Market Size and Volume Forecast by Applications
7.4.1. Separations
7.4.2. Injections
7.4.3. Boosting
7.4.4. Others
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Subsea Pump Demand Share Forecast, 2019-2026
8. Latin America Subsea Pump Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Subsea Pump Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Subsea Pump Market Size and Volume Forecast by Applications
8.4.1. Separations
8.4.2. Injections
8.4.3. Boosting
8.4.4. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Subsea Pump Demand Share Forecast, 2019-2026
9. Europe Subsea Pump Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Subsea Pump Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Subsea Pump Market Size and Volume Forecast by Applications
9.4.1. Separations
9.4.2. Injections
9.4.3. Boosting
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Subsea Pump Demand Share Forecast, 2019-2026
10. Asia Pacific Subsea Pump Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Subsea Pump Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Subsea Pump Market Size and Volume Forecast by Applications
10.4.1. Separations
10.4.2. Injections
10.4.3. Boosting
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Subsea Pump Demand Share Forecast, 2019-2026
11. Middle East & Africa Subsea Pump Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Subsea Pump Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Subsea Pump Market Size and Volume Forecast by Applications
11.4.1. Separations
11.4.2. Injections
11.4.3. Boosting
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Subsea Pump Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Subsea Pump Market: Market Share Analysis
12.2. Subsea Pump Distributors and Customers
12.3. Subsea Pump Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Schlumberger Limited
12.4.2. Baker Hughes Co.
12.4.3. Oceaneering International Inc.
12.4.4. Aker Solutions ASA
12.4.5. Halliburton Company.
Application
- Separations
- Injections
- Boosting
- Others
- Europe
- Asia-Pacific
- South America
- North America
- Middle East and Africa
- Schlumberger Limited
- Baker Hughes Co.
- Oceaneering International Inc.
- Aker Solutions ASA
- Halliburton Company.
Key players competing in the global subsea pump market include Schlumberger Limited; Baker Hughes Co.; Oceaneering International Inc.; Aker Solutions ASA; Halliburton Company.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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