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The global subsea pumps market was valued at US$ 1.5 Billion in 2021.
We expect the global subsea pumps market to exhibit a CAGR of 6.6% during 2022-2027.
The expanding oil and gas sector, along with the increasing focus on the development of offshore
hydrocarbon reserves, is primarily driving the global subsea pumps market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations, resulting in the temporary halt in the development of various
offshore fields, thereby limiting the demand for subsea pumps.
Based on the type, the global subsea pumps market has been segregated into centrifugal, helico-axial,
hybrid pump, twin screw, co-axial, and ESP (Electrical Submersible Pump). Among these, helico-axial
type represents the largest market share.
Based on the application, the global subsea pumps market can be segmented into subsea boosting,
subsea separation, subsea injection, and subsea gas compression. Currently, subsea boosting accounts
for the majority of the total market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where Middle East and Africa currently dominates the global
Some of the major players in the global subsea pumps market include 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.
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