South America Offshore Energy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The South American offshore energy market is expected to register a CAGR of more than 4% during the forecast period. During Covid-19, South America's economy was affected negatively. South America was under a strict lockdown, drastically impacting the offshore energy market. During Covid-19, oil & gas and power were the most affected industry in the region due to lower demand for oil and gas coupled with delays in offshore projects due to lack of funding. Factors such as the significant rise in investment and development of offshore oil & gas fields in the region are expected to drive the South America offshore energy market in the forecast period. However, the higher initial investment required in the offshore establishment is expected to restrain the growth of the offshore energy market.
Key HighlightsSouth America centrifugal pump market is fragmented. Some of the key players in the market include Chevron Corporation, Repsol SA, Petrobras, Exxon Mobil Corporation, and Enel Green Power S.p.A.
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