Global Subsea Pumps Market Outlook - 2025
The global subsea pumps market is expected to grow at a CAGR of 6.8% during 2020-2025. Subsea pumps are motorized devices which are used for underwater operations conducted on the seabed. The device consists of a power generator, conditioner, controller and transmitter. These pumps are utilized to boost production streams and multiphase mixtures of water, gas and oil through helico-axial and centrifugal forces. They can transport untreated hydrocarbons, condensates and solids by applying pressure through the pipelines. They also have a retrievable pump unit and pump base skid that are tied into the production flowline system and are deployed to increase hydrocarbon recovery in low-pressure reservoirs.
The continuously increasing demand for oil and gas from industrial, transportation and residential sectors is one of the major factors driving the market growth. The substantial decline in the shallow and onshore gas reserves has shifted the extraction activities to deep-sea reserves, thereby driving the product demand. Furthermore, significant advancements in subsea technologies, ensuring high operational efficiencies and economic benefits, are also augmenting the market growth. For instance, the Remote Flooding Console (RFC), which utilizes subsea pumps, is used for flooding and pigging operations by small vessels that have minimal desk space. Additionally, the discovery of commercially usable offshore hydrocarbon reservoirs is enhancing the adoption of these pumps across the globe. Also, various product innovations, including the utilization of high voltage motors to prevent voltage drops, the development of large pump hardware with improved capabilities, along with the advancements in pump designs and motor drive resulting in lower weight requirements and the cost-effectiveness of these pumps, are also projected to drive the market further.
IMARC Group’s latest report provides a deep insight into the global subsea pumps market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the subsea pumps market in any manner.
Report Coverage:
- Historical, Current and Future Market Trends
- Market Breakup by Type:
- Centrifugal
- Helico-Axial
- Hybrid Pump
- Twin Screw
- Co-Axial
- ESP (Electrical Submersible Pump)
- Market Breakup by Application:
- Subsea Boosting
- Subsea Separation
- Subsea Injection
- Subsea Gas Compression
- Market Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being Aker Solutions, Baker Hughes, FMC Technologies, Halliburton, General Electric Company, Flowserve, Leistritz Pumps GmbH, OneSubsea, Sulzer, SPX Corporation, Hayward Tyler Group, National Oilwell Varco, Oceaneering International, Framo AS, ITT Bornemann GmbH, etc.
Key Questions Answered in This Report:
The global subsea pumps market was worth around US$ 1,496 Million in 2019.
According to the estimates by IMARC Group, the global subsea pumps market will exhibit moderate growth during the next five years.
A sudden spread of the coronavirus disease (COVID-19) has negatively impacted the growth of the market. This can be accredited to lockdowns imposed by governments of several countries, which have interrupted the functioning of various end-use industries, such as oil and gas.
The escalating demand for oil and gas in various end-use industries, along with the substantial decline in shallow and onshore gas reserves, represents one of the key factors impelling the global market growth.
Advancements in the subsea technology and high voltage motors to prevent voltage drops acts as a significant trend in the market.
On the basis of the type, the market has been classified into the centrifugal, helico-axial, hybrid, twin screw, co-axial and electrical submersible pumps (ESPs).
Based on the application, the market has been categorized into subsea boosting, separation, injection and gas compression.
Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
Leading industry players are Aker Solutions ASA, Baker Hughes Company, TechnipFMC PLC, Halliburton Company, General Electric Company, Flowserve Corporation, Leistritz Pumps GmbH, Schlumberger Limited, Sulzer Ltd., SPX Corporation, Hayward Tyler Group PLC, National Oilwell Varco, Inc., Oceaneering International, Inc., Framo AS and ITT Bornemann GmbH.
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Subsea Pumps Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Type
5.4 Market Breakup by Application
5.5 Market Breakup by Region
5.6 Market Forecast
6 SWOT Analysis
6.1 Overview
6.2 Strengths
6.3 Weaknesses
6.4 Opportunities
6.5 Threats
7 Value Chain Analysis
8 Porter’s Five Forces Analysis
8.1 Overview
8.2 Bargaining Power of Buyers
8.3 Bargaining Power of Suppliers
8.4 Degree of Competition
8.5 Threat of New Entrants
8.6 Threat of Substitutes
9 Market Breakup by Type
9.1 Centrifugal
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Helico-Axial
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Hybrid Pump
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Twin Screw
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Co-Axial
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 ESP (Electrical Submersible Pump)
9.6.1 Market Trends
9.6.2 Market Forecast
10 Market Breakup by Application
10.1 Subsea Boosting
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Subsea Separation
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Subsea Injection
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Subsea Gas Compression
10.4.1 Market Trends
10.4.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 Europe
11.2.1 Market Trends
11.2.2 Market Forecast
11.3 Asia Pacific
11.3.1 Market Trends
11.3.2 Market Forecast
11.4 Middle East and Africa
11.4.1 Market Trends
11.4.2 Market Forecast
11.5 Latin America
11.5.1 Market Trends
11.5.2 Market Forecast
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Aker Solutions
13.3.2 Baker Hughes
13.3.3 FMC Technologies
13.3.4 Halliburton
13.3.5 General Electric Company
13.3.6 Flowserve
13.3.7 Leistritz Pumps GmbH
13.3.8 OneSubsea
13.3.9 Sulzer
13.3.10 SPX Corporation
13.3.11 Hayward Tyler Group
13.3.12 National Oilwell Varco
13.3.13 Oceaneering International
13.3.14 Framo AS
13.3.15 ITT Bornemann GmbH
List of Figures
Figure 1: Global: Subsea Pumps Market: Major Drivers and Challenges
Figure 2: Global: Subsea Pumps Market: Sales Value (in Billion US$), 2014-2019
Figure 3: Global: Subsea Pumps Market: Breakup by Type (in %), 2019
Figure 4: Global: Subsea Pumps Market: Breakup by Application (in %), 2019
Figure 5: Global: Subsea Pumps Market: Breakup by Region (in %), 2019
Figure 6: Global: Subsea Pumps Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 7: Global: Subsea Pumps Industry: SWOT Analysis
Figure 8: Global: Subsea Pumps Industry: Value Chain Analysis
Figure 9: Global: Subsea Pumps Industry: Porter’s Five Forces Analysis
Figure 10: Global: Subsea Pumps (Centrifugal) Market: Sales Value (in Million US$), 2014 & 2019
Figure 11: Global: Subsea Pumps (Centrifugal) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 12: Global: Subsea Pumps (Helico-Axial) Market: Sales Value (in Million US$), 2014 & 2019
Figure 13: Global: Subsea Pumps (Helico-Axial) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 14: Global: Subsea Pumps (Hybrid Pump) Market: Sales Value (in Million US$), 2014 & 2019
Figure 15: Global: Subsea Pumps (Hybrid Pump) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 16: Global: Subsea Pumps (Twin Screw) Market: Sales Value (in Million US$), 2014 & 2019
Figure 17: Global: Subsea Pumps (Twin Screw) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 18: Global: Subsea Pumps (Co-Axial) Market: Sales Value (in Million US$), 2014 & 2019
Figure 19: Global: Subsea Pumps (Co-Axial) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 20: Global: Subsea Pumps (ESP) Market: Sales Value (in Million US$), 2014 & 2019
Figure 21: Global: Subsea Pumps (ESP) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 22: Global: Subsea Pumps (Subsea Boosting) Market: Sales Value (in Million US$), 2014 & 2019
Figure 23: Global: Subsea Pumps (Subsea Boosting) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 24: Global: Subsea Pumps (Subsea Separation) Market: Sales Value (in Million US$), 2014 & 2019
Figure 25: Global: Subsea Pumps (Subsea Separation) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 26: Global: Subsea Pumps (Subsea Injection) Market: Sales Value (in Million US$), 2014 & 2019
Figure 27: Global: Subsea Pumps (Subsea Injection) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 28: Global: Subsea Pumps (Subsea Gas Compression) Market: Sales Value (in Million US$), 2014 & 2019
Figure 29: Global: Subsea Pumps (Subsea Gas Compression) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 30: North America: Subsea Pumps Market: Sales Value (in Million US$), 2014 & 2019
Figure 31: North America: Subsea Pumps Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 32: Europe: Subsea Pumps Market: Sales Value (in Million US$), 2014 & 2019
Figure 33: Europe: Subsea Pumps Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 34: Asia Pacific: Subsea Pumps Market: Sales Value (in Million US$), 2014 & 2019
Figure 35: Asia Pacific: Subsea Pumps Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 36: Middle East and Africa: Subsea Pumps Market: Sales Value (in Million US$), 2014 & 2019
Figure 37: Middle East and Africa: Subsea Pumps Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 38: Latin America: Subsea Pumps Market: Sales Value (in Million US$), 2014 & 2019
Figure 39: Latin America: Subsea Pumps Market Forecast: Sales Value (in Million US$), 2020-2025
List of Tables
Table 1: Global: Subsea Pumps Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Subsea Pumps Market Forecast: Breakup by Type (in Million US$), 2020-2025
Table 3: Global: Subsea Pumps Market Forecast: Breakup by Application (in Million US$), 2020-2025
Table 4: Global: Subsea Pumps Market Forecast: Breakup by Region (in Million US$), 2020-2025
Table 5: Global: Subsea Pumps Market Structure
Table 6: Global: Subsea Pumps Market: Key Players