DUBLIN, June 26, 2014 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/xfw6dn/subsea_pumps) has announced the addition of the "Subsea Pumps Market by Type, by Application & by Geography - Global Trends & Forecast to 2018" report to their offering.
This report estimates the subsea pumps market in terms of value. The value market is estimated in terms of number of subsea processing projects already underway and the upcoming per year, and value in terms of contract value. This has been broken down into regions, type of pumps and is also split into subsea applications.
Subsea pumps are required for oil and gas development. The ever-increasing offshore exploration and production activities across the globe and the drilling activities at ultra-deep water depths are driving the market. However, issues associated with the environment, geopolitical turmoil, and a lack of skilled professionals, are affecting growth. Helico-Axial has the highest current market share in the subsea pumps market, followed by ESP pumps.
Subsea pumping consists of a range of technologies to allow production from offshore wells without needing surface production facilities. The most important benefits from using these technologies include production boosting, improved oil and gas recovery, increased Net Present Value (NPV), reduced surface production facility costs, and the lower likelihood of gas hydrate formation in flowlines.
There are, however, a number of issues that have kept subsea pumping from being used more widely. The major restraining issues for the subsea pumps market include the reliability of subsea units, subsea processing system failures, and the increasing costs of intervention vessels.
The number of existing and proposed subsea pumps projects has increased over the last few years. A majority of these units were awarded prior to the recent decline in offshore activities caused by the global economic downturn, pressures on the supply chain, and oil price volatility. Therefore, as a result of the timing of the contracts, several projects have gone ahead despite these conditions.
Various secondary sources such as encyclopedias, directories, and databases were used to identify and collect information that was useful for this extensive commercial study of the global subsea pumps market. The primary sources - experts and suppliers from the industry - have all been interviewed to obtain and verify critical information, as well as to assess the future prospects of the subsea pumps market.
This report also profiles leading players of this industry, along with their recent developments and other strategic industry activities. Some of the key companies profiled include Aker Solutions (Norway), Flow Serve (U.S.), OneSubsea (U.S.), FMC Technologies Inc. (U.S.), Baker Hughes (U.S.), and GE Oil and Gas (U.S.) among others.
Key Topics Covered:
2 Executive Summary
3 Premium Insights
4 Market Overview
5 Industry Analysis
6 Global Subsea Pumping Systems: Market Analysis
7 Subsea Pumps Market, By Type
8 Subsea Pumps Market, By Application
9 Subsea Pumps Market, By Geography
10 Competitive Landscape
11 Company Profiles
- Aker Solutions
- Baker Hughes
- Fmc Technologies Inc.
- GE Oil & Gas
- ITT Bornemann
- Leistritz Ag
- SPX Corporation
- Sulzer Ltd
For more information visit http://www.researchandmarkets.com/research/xfw6dn/subsea_pumps
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SOURCE Research and Markets