Global Subsea Pumps Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Subsea Pumps Market 2021 (Includes Business Impact of COVID-19)
Global Subsea Pumps Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global subsea pumps market report has been segmented on the basis of type, application, and region.
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The global Subsea Pumps market size was valued at USD$ 1.40 billion in 2020 and is projected to reach UDS$8.27 billion by 2030, and is anticipated to expand at a CAGR of 8.27% over the forecast period from 2020 to 2030.


Global Subsea Pumps Market: Overview


Subsea pumps are used in the oil and gas sector to enhance oil recovery and to maintain the flow of fluids recovered from the reservoir. Such pumps are available in single-phase, multiphase, and hybrid, and uses helicon-axial technology.


Global Subsea Pumps Market: Dynamics


Increasing demand for offshore exploration activities and to maintain a proper recovery rate of mature oilfields are some factors expected to drive growth of the target market. In addition, increasing investments in R&D activities for product innovations in terms of subsea technology and subsea infrastructure, are expected to bolster growth of the target market over the forecast period. Moreover, increasing energy demand, coupled with increasing oil & gas exploration activities are about to create opportunities for the target market. Moreover, increasing demand for long shelf life pumps, higher net present value (NPV), improved quality, and reliability, etc. are some of the other factors anticipated to propel growth of the target market to a certain extent over the forecast period.

Latest trend observed in the market is that, regulatory agencies are convincing manufacturers to focus on deep-water reserves due to decline in shallow and onshore gas reserves. In February 2018, for instance, Norway-based oil company Wintershall Norge AS awarded a rig contract to Aker solution ASA, a global engineering company based in Oslo “ to provide subsea production system, umbilical, and services for operations in the offshore Nova oil & gas field, Norway.

However, stringent government laws and regulations on oil and gas exploration activities in various countries across the globe is expected to hamper growth of market.


Global Subsea Pumps Market: Segment Analysis


Among the type segments, the electrical submersible pump (ESP) segment is expected to account for significant revenue share in the global market.

Among the application segments, the subsea boosting segment is estimated to account for major revenue share, and is projected to maintain its dominance over the forecast period


Global Subsea Pumps Market: Regional Analysis


The market in the North America is projected to register comparatively faster growth in terms of revenue over the forecast period. Factors such as increasing offshore exploration activities, along with increasing government expenditure in the exploration activities in countries such as US and Canada in the region. The Middle East & Africa subsea pumps market is projected to witness a fastest growth in the target market during the forecast period. Furthermore, the market inAsia Pacific is estimated to register significant growth rate and is anticipated to witness significant share in the target market over the forecast period. Emerging countries such as China and India have experienced a substantial growth due to low oil prices and offshore activity in China and oil & gas import & export activities. In addition, industrialization, urbanization, and increasing energy demand in the countries. In order to meet this energy demand, the onshore as well as offshore exploration & production activity is projected to increase in the region.


Below are the active patents related to Subsea Pumps Market.


Patent Number: US20050217857A1

Subsea pumping module system and installation method

Abstract

The present invention contemplates a system comprising a pumping module coupled to an intermediate flow inlet (IFI) wherein said IFI is coupled to a base structure disposed on the flow line that routes production from one or more oil wells, allowing for the quick and easy installation or recovery of a subsea pumping module by cable from an inexpensive vessel. The present invention also allows for the hydraulic isolation of the subsea pumping module by means of on-off valves on the IFI whereby the pumping module can be easily installed or removed without causing underwater oil spills. Sealing of the connection is of the metal-metal type. It is also possible to pass a pig through the present system for clearing the flow lines.

Application File Date: 2004-11-08

Application Granted Date: 2008-01-01

Current Assignee: Petroleo Brasileiro SA Petrobas

Patent Number:US20100119381A1

Subsea pumping system

Abstract

A technique is provided for pumping fluid in subsea applications, such as booster pumping applications. A self-contained pumping module has a pump and a motor mounted on a skid. The self-contained pumping module also includes electrical connections by which electrical power can be provided to the motor and hydraulic connections for connecting suitable hydraulic lines with a pump intake and a pump discharge. The self-contained nature of the pumping module enables easy deployment to a sea floor in a variety of applications.

Application File Date: 2008-11-10

Application Granted Date: 2011-12-27

Current Assignee: Schlumberger Technology Corp

Patent Number: US20100284829A1

Gas tolerant subsea pump

Abstract

A combined canned motor-pump operates directly in the process fluid without the need for shaft seals or buffer or lubricating fluids. The pump incorporates an integral gas-separating system that includes gas separating hydraulics and a flow path that returns the gas to the main gas/oil separator. The gas-separating system includes a pump inlet for accepting incoming multiphase flow, at least one blade rotatable about the axis of rotation, an open annulus region for separating gas from liquid in the multiphase flow, at least one radial hole in the shaft for directing separated gas to the axial hole, and a pump outlet for discharging liquid from the pump.

Application File Date: 2010-05-06

Application Granted Date: 2013-03-12

Current Assignee: Curtiss Wright Electro Mechanical Corp

Global Subsea Pumps Market Segmentation:

Segmentation by Type:

  
Helico-Axial
  
Electrical Submersible Pump (ESP)
  
Centrifugal
  
Twin Screw
  
Hybrid
  
Counter-Axial

Segmentation by Application:

  
Subsea Boosting
  
Subsea Separation
  
Subsea Injection
  
Subsea Compression


Key Market Players included in the report:


  
Aker Solutions (Norway)
  
Baker Hughes (U.S.)
  
Baker Hughes Incorporated
  
Flowserve Corporation (U.S.)
  
FMC Technologies Inc. (U.S.)
  
GE Oil & Gas (U.S.)
  
General Electric Company
  
Halliburton Company
  
HAYWARD TYLER GROUP PLC.
  
ITT Bornemann GmbH
  
Leistritz AG
  
Oceaneering International Inc.
  
OneSubsea (U.S.)
  
Schlumberger Limited
  
SPX Corporation
  
Sulzer Ltd.