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Subsea Pumps Market By Product, Application, Manufacturer, Sales and Segmentation 2024
Infinium Global Research added Latest Research Report titled “Subsea Pumps Market by Manufacturers, Regions, Product Type and Application, Forecast to 2024” to its Large Report database.
The main objective of this report is to define, describe, and forecast the global “Subsea Pumps” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
Rising recovery and enabling increased production rates to promote growth in the Subsea Pumps market
Increasing energy demand has resulted in high offshore production investment along with maturing onshore oilfields, which in turn, are the major factors driving the growth of the subsea pumps market. In addition, a decline of shallow and onshore gas reserves are forcing the companies to increase their focus on deep-water reserves thus enhancing the market growth. Owing to the handling of produced water in proximity to the production site, the operation cost and time are reduced this in turn, is anticipated to boost the growth of the subsea pumps market. On the other hand, strict government laws on oil explorations hinder the growth of the market. Furthermore, the growing requirement of fuel the production of the already present brownfield oil and gas projects are positively influencing the growth of the market. On the other hand offshore Greenfield will also contribute its positively influence for the market development. Moreover, the developments in subsea technologies ensure top abilities and huge economic benefits, thus the oil and gas reserves and the newly discovered oilfields are gaining several opportunities for the key players in the subsea pumps market over the years to come.
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Americas region to contribute to growth in the global Subsea Pumps market
Americas dominated the subsea pumps market. Moreover, Latin America is anticipated to witness the largest share owing to the significant development observed in subsea exploration and production activities and due to increasing offshore exploration along the Gulf of Mexico. Hence, this region is anticipated to remain the dominant region over the forecast period. Moreover, increasing oil production in Eastern Europe particularly in Russia is expected to drive the European market. In order to meet this energy demand, the exploration & production activity, including offshore is expected to increase in China, which in turn is expected to drive the market for subsea pumps in the Asia Pacific regions.
Aker solution to provide Subsea Production System and secures work on Johan Sverdrup
Winter shall Norge AS awarded a contract to Aker solution to provide Subsea Production System, umbilical, and services for its operations in the offshore Nova oil & gas field, Norway. Aker Solutions will provide two templates with manifolds, seven subsea trees, umbilical, and tie-in equipment. Aker Solutions ASA provides products, systems and services to the oil and gas industry worldwide. The company operates through Projects and Services segments. It offers field planning, feasibility, and concept studies; floater designs; offshore wind farm planning, installation, commissioning, operations, and maintenance services; and riser solutions for water depth and environmental conditions.
Aker Solutions had collaboration with Kvaerner that secured additional hook-up and commissioning work for Equinor's Johan Sverdrup field offshore Norway. Aker Solutions is a global provider of products, systems, and services to the oil and gas industry.
Aker Solutions Secures Perenco Contract Extension in Southern North Sea
Aker Solutions has secured a three-year contract extension, with two one-year options, from Perenco UK to continue operations and maintenance services on its southern North Sea assets. The contract builds on a highly successful and collaborative 15-year relationship providing operations and maintenance services for UK’s southern North Sea assets.
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Collaboration of FMC Technologies with Sulzer Pumps
FMC Technologies collaborates with Sulzer Pumps, one of the world’s leading pump manufacturers, to offer game-changing subsea pump solutions. Sulzer Pumps is renowned for their field-proven and comprehensive range of pump hydraulics, state-of-the-art products, performance reliability, and efficient solutions.
Report Highlights:
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global subsea pumps market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of subsea pumps market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the subsea pumps market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the subsea pumps market to understand the present and future trends in this market and formulate their strategies accordingly.
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