(MENAFN- CDN Newswire) Infinium Global Research has recently published a global report on ' Subsea Pumps Market (Application - Subsea Boosting, Subsea Separation, Subsea Injection, and Subsea Gas Compression; Type - Helico-axial, Centrifugal, Twin Screw, Hybrid, Counter-axial, and Others; Region - North America, Europe, Asia-Pacific, and Rest of the World): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024.' The global subsea pumps market is projected to grow at a CAGR of 5.6% over the forecast period of 2018-2024.
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Subsea pumping is one of the most mature solutions for increasing oil recovery from subsea tiebacks. In boosting applications, seabed pumps improve production economics by reducing back pressure on the reservoir that increases flow rates, and total recoverable reserves. In other applications where there is low reservoir drive, single-phase pumps can be used to inject into the reservoir to increase reservoir pressure and sweep hydrocarbons from the formation, raising recovery and enabling increased production rates. Subsea multiphase pumps improve production economics by reducing back pressure on the reservoir that increases flow rates and total recoverable reserves.
Increasing Energy Demand has Resulted in High Offshore Production Investment along with Maturing Onshore Oil Fields
Increasing energy demand has resulted in high offshore production investment along with maturing onshore oil fields, which in turn, are the major factors driving the growth of the subsea pumps market. In addition, a decline of shallow and onshore gas reserves are forcing the companies to increase their focus on deep-water reserves thus enhancing the market growth. Owing to the handling of produced water in proximity to the production site, the operation cost and time are reduced this in turn, is anticipated to boost the growth of the subsea pumps market.
On the other hand, strict government laws on oil explorations hinder the growth of the market. Furthermore, the growing requirement of fuel for the production of the already present brownfield oil and gas projects are positively influencing the growth of the market.
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Major Highlights of this Premium Report
Preface
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Report Description
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Research Methods
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Research Approaches
Executive Summary
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Subsea Pumps Market Highlights
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Subsea Pumps Market Projection
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Subsea Pumps Market Regional Highlights
Global Subsea Pumps Market Overview
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Introduction
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Market Dynamics
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Porter's Five Forces Analysis
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IGR-Growth Matrix Analysis
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Value chain subsea pumps market
Subsea Pumps Market Macro Indicator Analysis
Global Subsea Pumps Market by Application
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Subsea Boosting
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Subsea Separation
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Subsea Injection
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Subsea Gas Compression
Global Subsea Pumps Market by Type
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Helico-axial
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Centrifugal
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Twin Screw
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Hybrid
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Counter-axial
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Others
Global Subsea Pumps Market by Region 2018-2024
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North America
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Europe
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Asia-Pacific
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RoW
Company Profiles and Competitive Landscape
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Aker Solutions ASA
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Financial Snapshot
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Baker Hughes A GE Co
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Halliburton Company
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Schlumberger Limited
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Weatherford International plc
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National Oilwell Varco
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Oceaneering International, Inc.
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TechnipFMC plc
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Kerui Group Co., Ltd
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RongSheng Machinery Manufacture LTD
Appendix
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