London, 01 April 2015: Technavio, the independent tech-focused global research firm, has published a report on the Global Subsea Pumps Market 2015-2019, which is expected to grow at a CAGR of 18.9 percent during the forecast period of 2014-2019.
The overall volume of production has increased, whereas the cost and risk has significantly reduced because of the rapid advances in technology; this is expected to propel the growth of the Global Subsea Pumps market during the forecast period by assuring quicker ROI for the vendors.
“Industries are increasingly focusing on methods to enhance the energy efficiency of subsea pumps. Their aim is to replace the existing pumps with those equipped with the latest technologies,” says Faisal Ghaus, Vice President of TechNavio.
“High-technology-enabled pumps can reduce energy consumption and provide flow assurance at all gas volume fractions, thus paving the way for the reduction of overall cost of ownership and easing the exploration process.”
Key Market Drivers
- Maturing Onshore Oil Reserves
- Rise in Global Oil and Gas Consumption
- 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
- Flowserve
- FMC Technologies
- GE Energy
- OneSubsea
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%…
