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The Asia Pacific subsea pumps market is currently witnessing strong growth. 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. Looking forward, IMARC Group expects the market to exhibit moderate growth during the forecast period (2020-2025).
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific subsea pumps market report, along with forecasts for growth at the region level from 2020-2025. Our report has categorized the market based on region, type and application.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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