Press release
Asia Pacific Subsea Pumps Market Size, Demand, Manufacturers and Forecast 2023-2028
Asia Pacific Subsea Pumps Market 2023-2028 | Image Source: Calderltd
How big is the Asia Pacific subsea pumps market?
The Asia Pacific subsea pumps market size reached US$ 171.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 259.8 Million by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028.
What are subsea pumps?
Subsea pumps refer to motorized underwater devices utilized for operations conducted on the seabed. These instruments comprise a power generator, conditioner, controller, and transmitter. Subsea pumps utilize helico-axial and centrifugal forces to boost production streams and multiphase mixtures of water, gas, and oil. By applying pressure through pipelines, they transport untreated hydrocarbons, condensates, and solids. In addition to this, subsea pumps feature a retrievable unit and base skid, which are integrated into the production flowline system, enhancing hydrocarbon recovery in low-pressure reservoirs. As a result, these devices find widespread applications in boosting, separation, injection, and gas compression.
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What are the growth prospects and trends in the industry?
The escalating demand for oil and gas across the industrial, transportation, and residential sectors is among the primary factors driving the Asia Pacific subsea pumps market. Besides this, as shallow and onshore gas reserves decline, extraction activities have shifted towards deep-sea reserves, resulting in the propelled need for these devices, thereby further augmenting the market growth.
Moreover, continuous advancements in subsea technologies for ensuring high operational efficiency and the growing utilization of subsea pumps in the Remote Flooding Console (RFC) that allows flooding and pigging operations by small vessels with limited desk space are also catalyzing the market growth across the Asia Pacific. Apart from this, the development of commercially viable offshore hydrocarbon reservoirs is acting as another significant growth-inducing factor.
Furthermore, the introduction of high voltage motors to prevent voltage drops and the rising popularity of larger hardware with enhanced capabilities are expected to bolster the Asia Pacific subsea pumps market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
• Centrifugal
• Helico-Axial
• Hybrid Pump
• Twin Screw
• Co-Axial
• ESP (Electrical Submersible Pump)
Breakup by Application:
• Subsea Boosting
• Subsea Separation
• Subsea Injection
• Subsea Gas Compression
Breakup by Country:
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
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Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Industry Trends
• Market Drivers and Success Factors
• The Impact of COVID-19
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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