The Asia Pacific subsea pumps market size reached US$
157.8 Million in 2021. Looking forward, IMARC Group expects the market to reach US$
244.3 Million by 2027, exhibiting a growth rate (CAGR) of
7.62% during 2022-2027.
Subsea pumps are used to facilitate operations, such as transporting crude oil and carrying drilling fluid to the production site, on the seabed. They rely on a retrievable pump unit and pump base skid to increase hydrocarbon recovery in low-pressure reservoirs. They help in increasing production rate, extending fluid life, reducing overall operating expenditures, and maintaining the efficient flow of multiphase fluid and solids. Nowadays, helicon-axial multiphase pumps are gaining traction in the Asia Pacific region to support offshore oil and exploration activities.
The escalating demand for energy in various industries, along with a significant decrease in the number of shallow and onshore gas reserves, is shifting oil and gas extraction activities to deep-water areas. This represents one of the major factors bolstering the growth of the subsea pumps market in the region. Apart from this, the advantages associated with subsea pumps, such as high net present value (NPV), the cost saving of surface production facility and the reducing possibility of hydrate formation inflow line, are further spurring the market growth. Moreover, the region has many large, mature and predominantly shallow water areas, which is providing lucrative opportunities for players in the region to increase the explorations, production and drilling activities in subsea areas. This trend, along with rising investments in expanding the manufacturing capacity, is expected to drive the market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific subsea pumps market report, along with forecasts at the regional and country level from 2022-2027. Our report has categorized the market based on type and application.
Breakup by Type:
- Hybrid Pump
- Twin Screw
- ESP (Electrical Submersible Pump)
Breakup by Application:
- Subsea Boosting
- Subsea Separation
- Subsea Injection
- Subsea Gas Compression
Breakup by Country:
- South Korea
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
||Type, Application, Country
||China, Japan, India, South Korea, Australia, Indonesia, Others
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Key Questions Answered in This Report:
- How has the Asia Pacific Subsea Pumps market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Asia Pacific Subsea Pumps market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Asia Pacific Subsea Pumps market and who are the key players?
- What is the degree of competition in the industry?