Ozone Market Reports projects that the Subsea Pumps market size will grow from USD 1276.4 Million in 2017 to USD 2466.0 Million by 2023, at an estimated CAGR of 11.6%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
Subsea boosting is expected to be the largest application for subsea pumps and is expected to have more than 54% of the market share during the forecast period. Seabed boosting is at times deployed to ensure the flow of fluids from fields at the required rate after the natural reservoir pressure declines. Major factors that encourage the operators to adopt subsea boosting are the existence of heavy oil, the increased distance from the host, increased water depth, low reservoir pressure, and a greater number of field tiebacks to the host.
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By Market Players:
Baker Hughes Incorporated , FMC Technologies, Inc. , General Electric Company , Onesubsea , Sulzer AG , SPX Corporation , ITT Bornemann , Flowserve Corporation , Leistritz Pumpen Gmbh , Framo as, , , , , , , , , ,
Helico-Axial, ESP, Centrifugal, Twin-Screw, Hybrid
Subsea Boosting, Subsea Injection, Subsea Separation, Subsea Gas Compression,
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