London, 23 April 2015: Technavio, the independent tech-focused global research firm, has published a report on the subsea pumps market in the EMEA 2015-2019, which is expected to grow at a CAGR of 19.5% during the forecast period of 2014-2019.
The need for increased productivity of oil and gas reservoirs, as well as advances in pumping and processing technologies, is fueling the demand for subsea pumps. Subsea pumps are used in various stages of subsea production, including boosting, injection, separation, and compression. These pumps maintain and regulate the flow of fluids at seabed and downhole.
“Intelligent pump systems are able to automatically control and regulate flow or pressure and adjust to changes in the process and pump system,” says Faisal Ghaus, Vice President of Technavio.
“These systems have a fault-tolerant design and are highly efficient, which has attracted manufacturers such as Flowserve and GE Energy. Also, adopting these systems reduces the total cost of pump system ownership.”
Key Market Drivers
- Huge Subsea Potential
- Maturing Onshore Oil Reserves
- Growing Need For Energy Security
Key Market Trends
- Rapid Advances In Technology
- Emergence of Intelligent Pump Systems
- Enhancement of Energy Efficiency Measures
Key Market Vendors
- Aker Solutions ASA
- Flowserve Corp.
- FMC Technologies Inc.
- GE Energy
- OneSubsea LLC
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
