According to the latest report by IMARC Group, titled “Asia Pacific Subsea Pumps Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the Asia Pacific subsea pumps market is currently witnessing strong growth. Looking forward, IMARC Group expects the market to exhibit moderate growth during the forecast period (2020-2025).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Subsea pumps refer to motorized devices that are used to facilitate several oil and gas exploration operations, such as transporting crude oil from the seabed to the production site. They involve a power generator, conditioner, controller, and transmitter. Subsea pumps also consist of a retrieval pump unit and a pump base skid. This eases the process of extracting diverse materials from the shore, reduces back-pressure on the reservoir, improves hydrocarbon recovery rate, and extends fluid life, thereby lowering the overall production costs.
The Asia Pacific subsea pumps market is primarily being driven by the increasing product adoption across the industrial, transportation, and residential sectors. In line with this, a significant decrease in the number of shallow and onshore gas reserves, along with the rising expenditure on oil and gas extraction activities is further propelling the market growth across the region. Additionally, continuous investments in research and development (R&D) activities to minimize environmental footprint and enhance operational monitoring are acting as another growth-inducing factor. Moreover, rapid advancements in the subsea technology, such as high voltage motors with improved capabilities, to prevent voltage drops and enable access to deep-water oil and gas reservoirs are catalyzing the market growth.
Asia Pacific Subsea Pumps Market 2020-2025 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the asia pacific subsea pumps market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
The report has segmented the asia pacific subsea pumps market on the basis of type, application and country.
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
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/asia-pacific-subsea-pumps-market
Key highlights of the report:
- Market Performance (2014-2019)
- Market Outlook (2020-2025)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- 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.
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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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