Transparency
Market Research Reports incorporated a definite business overview and
investigation inclines on "Subsea Pumps Market". This
report likewise incorporates more illumination about fundamental
review of the business including definitions, requisitions and
worldwide business sector industry structure.
Subsea
Production Systems refers to the wells located on the sea floor. It
utilizes a number of equipments to run the exploration and production
smoothly. Pumps play a vital role in any fluid handling process.
Exploration of the crude oil at sea floor level needs efficient fluid
handling devices such as pumps. The design of the pump varies with
the working conditions and a number of factors influence the design
parameters of a subsea pump such as pressure, temperature and depth
of the water (deep or shallow water).
Subsea
production systems are generally known as a floating production
system (FPS) wherein the extraction takes place on the sea floor and
further processing or production takes place on the floating
production platform. Thus, subsea pumps find a variety of
applications in order to transport crude from the seabed to the FPS
and to transport drilling fluids to the production site.
There
are six major types of subsea pumps such as centrifugal pumps,
helico-axial pumps, ESP, hybrid pumps and twin-screw pumps.
Helico-axial pumps dominated the market followed by ESP. However, the
market is expected to witness a significant growth in all other
product segments. Further, the application for which these pumps are
being used in the subsea production systems are subsea boosting,
subsea compression, subsea separation and subsea injection. Latin
America dominated the market for subsea pumps in 2013 followed by
Europe. These regions are expected to grow significantly in the near
future. Other major regional segments of this market are U.S., Asia
Pacific and Africa among RoW.
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One
of the major driving factors of this market has been ever-growing
energy demand coupled with the onshore oil and gas field maturity.
Maturing oil and gas fields are drawing the attention of different
companies to explore new offshore field. Technological advancement is
taking place continuously creating and widening new opportunities to
explore crude from deeper water depths. Subsea pumps are useful to
handle the fluids at the seabed level, thus saving human efforts and
time. Growing appetite to have enhanced oil and gas production
substantiate the possibility of a bright future of the subsea pumps
market across the globe. However, factors such as economical crises
hold back the market. Issues such as the reliability of subsea units,
failure of subsea processing system and the rising intervention
vessels cost are some of the major restraints on the subsea pump
market. Nevertheless, a number of subsea pump projects have grown at
a quick pace surpassing the economic crises in the past.
Growing
capital expenditure in subsea pumps market shows the potential and
development in this market. A number of companies are involved in the
research and development of these products; therefore, the market
witnesses the launch of new improved and advanced products. The
market is solely dependent on the development of subsea production
systems and exploration of the new offshore fields. Companies dealing
in this market face competitive challenges as branding plays a vital
part.
Aker
Solutions, Flowserve Corporation, Baker Hughes Incorporated, FMC
Technologies Inc., ITT Bornemann GmbH, Leistritz AG, SPX Corporation,
Onesubsea (A Cameron and Schlumberger Company), FUGLESANGS SUBSEA AS,
HAYWARD TYLER GROUP PLC. General Electric Company and Sulzer Ltd. are
some of the leading manufacturers of subsea pumps.
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