Global Subsea Pump System Market Size study & Forecast, by Deployment (Shallow water, Deepwater), by Application (Boosting, Separation, Injection, Others) and Regional Analysis, 2023-2030

Global Subsea Pump System Market Size study & Forecast, by Deployment (Shallow water, Deepwater), by Application (Boosting, Separation, Injection, Others) and Regional Analysis, 2023-2030

Global Subsea Pump System Market is valued at approximately USD XXX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. A subsea pump system is a set of equipment and components designed to pump fluids, such as oil or gas, from beneath the seabed in offshore oil and gas production. It is used in subsea production systems to enhance the flow of hydrocarbons from the reservoir to the surface facilities. The main component of the system, the subsea pump, is installed on the seabed close to the wellhead. It is responsible for increasing the pressure of the fluid and facilitating its flow to the surface. The key factors such as rising exploration across subsea oil & gas exploration sites and increasing deep-water activities, longer tiebacks, and recoverable reserves are anticipated to support the market growth during the forecast period.

Moreover, rising oil and gas production drives the demand for subsea pump systems. due to offshore exploration and production activities, the need for deepwater and ultra-deepwater projects, the adoption of enhanced oil recovery techniques, and technological advancements in the industry. According to the IOGP's new Global Production Report, oil consumption was 30% higher in 2018 than it was in 2000, while natural gas demand rose by 60% during the same period. Also, according to the International Energy Agency's (IEA) publication ""Oil 2020- Analysis,"" global oil production capacity is expected to exceed 5.9 million barrels per day by 2025. Additionally, rising technological advancement in subsea pump systems and new offshore discoveries are anticipated to create lucrative opportunities for the market during the forecast period. However, the stringent government regulatory norms and operational and environmental concerns stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Subsea Pump System Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of key market players, growing North American deepwater oil and gas production is a major factor driving the market for subsea pumps to expand significantly. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as increasing dependence on oil and gas imports due to increased energy demand, which is fueled by fast economic growth. Due to this dependency, nations have adopted a multifaceted strategy for ensuring energy security. Increasing domestic oil and gas production through the expansion of offshore production, which is anticipated to contribute to the Asia Pacific subsea pump market's continued growth, is one of the key efforts.

Major market players included in this report are:
FMC Technologies, Inc.
OneSubsea
General Electric Company
Aker Solutions ASA
Baker Hughes Incorporated
Flowserve Corporation
SPX Corporation
ITT Bornemann GmbH
Leistritz AG
Sulzer Ltd.

Recent Developments in the Market:
 Jan. 2022, the government of Argentina made steps that promote deep-water exploration. The government unfrozen a 3D seismic project that operator Equinor and partners had planned to conduct in the Argentina Basin's blocks CAN-100, CAN-108, and CAN-114 in water depths between 1,500 m and 3,500 m, around 290 km from Mar del Plata.

Global Subsea Pump System Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Deployment, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Deployment offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Deployment:
Shallow water
Deepwater
By Application:
Boosting
Separation
Injection
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.

Companies Mentioned
FMC Technologies, Inc.
OneSubsea
General Electric Company
Aker Solutions ASA
Baker Hughes Incorporated
Flowserve Corporation
SPX Corporation
ITT Bornemann GmbH
Leistritz AG
Sulzer Ltd.

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.