Portland, OR -- (SBWIRE) -- 07/31/2017 -- Subsea pumping is considered as one of the most promising solution for increasing oil recovery by reducing the backpressure on reservoirs. Reduction in backpressure results in an increase in the flow rate and total recoverable reserves. The benefits of using subsea pumps include accelerated production, enhanced recovery & extended field life, reduction in operating expenses, increased production from low energy reservoirs, improvement in flow assurance performance, and safer start-up of low energy wells in relatively less time. A pumping system basically consists of equipment for power generation, power transmission, and power conditioning & control. The use of subsea pumps in the offshore industry started approximately two decades ago. The global subsea pumps market is expected to grow at a CAGR of 12.6% from 2017 to 2025.

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On the basis of type, the subsea pump market is segmented into helico-axial, centrifugal, electrical submersible pump (ESP), hybrid, twin screw, and counter-axial. Based on application, it is categorized into subsea boosting, subsea separation, subsea injection, and subsea compression. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Market Dynamics:
Drivers:
- Newly explored oil & gas fields coupled with expanding demand for oil is expected to fuel the demand for subsea pumps.
- Advantages of using subsea pumps, such as extension in the life of reservoirs, high production, and reduction in operating expenses is increasing the demand for subsea pumps.

Restraints:
- Falling prices of crude oil is expected to hinder market growth during the forecast period.

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Market Players:
The major players in the global subsea pump market are Aker Solutions ASA, FMC Technologies, Inc., SPX Corporation, Flowserve Corporation, Baker Hughes Incorporated, General Electric Company, Sulzer AG, OneSubsea, Framo AS, and ITT Bornemann GmbH.

Key Point from Table of Content
1. Executive summary
1.1. Key Findings
1.2. Market Attractiveness and Trend analysis
1.3. Competitive Landscape and recent industry development analysis

2. Introduction
2.1. Report Description
2.2. Scope and Definitions
2.3. Research Methodology

3. Market landscape
3.1. Growth Drivers
3.1.1. Impact Analysis
3.2. Restrains and Challenges
3.2.1. Impact Analysis
3.3. Porter's Analysis
3.3.1. Bargaining power of buyers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of substitutes
3.3.4. Industry rivalry
3.3.5. Threat of new entrants
3.4. Global Subsea Pump Market Shares Analysis, 2014-2025
3.4.1. Global subsea pump market share by type, 2014-2025
.
7. Company profiles
7.1. Aker Solutions ASA
7.1.1. Overview
7.1.2. Financials and business segments
7.1.3. Recent developments
7.2. Baker Hughes Incorporated
7.2.1. Overview
Continue…

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MARKET LANDSCAPE
By Type
- Helico-axial
- Centrifugal
- Electrical Submersible Pump (ESP)
- Hybrid
- Twin Screw
- Counter-axial

By Application
- Subsea Boosting
- Subsea Separation
- Subsea Injection
- Subsea Compression

By Geography
- North America
o U.S.
o Canada
o Mexico
- Europe
o UK
o Germany
o France
o Spain
o Italy
o Rest of Europe
- Asia-Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia-Pacific
- LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA