Thursday 30 April 2015, Amsterdam
The report recognizes the following companies as the key players in the Global Subsea Pumps Market: Aker Solutions, Flowserve, FMC Technologies, GE Energy and OneSubsea
Other Prominent Vendors in the market are: National Oilwell Varco, Oceaneering International and Transocean.
The report said: “One major trend emerging in the market is the rapid advances in technology. The use of advanced booster pumps and permanent magnet motors that improve the speed, flow regulation, and efficiency of a pump are the most notable developments that would bode well for the market growth in the future.”
According to the report, maturation of onshore oil reserves, which leads to a shift and investment in offshore production from the conventional onshore production, predominantly drives the market growth. As a result, governments worldwide are focusing on upgrading subsea pump technologies to increase their overall oil and gas production.
Further, the report states that one key challenge that the market faces is the increase in the prices of raw materials used to manufacture the pumps. High technical expertise and expensive raw materials are required to build subsea pumps that can withstand harsh subsea weather conditions, which increases the overall cost of the system.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.