The report "Subsea Pumps Market by Type (Helico-Axial, ESP, Centrifugal, Twin-Screw, Hybrid, Counter-Axial), Application (Subsea Boosting, Subsea Injection, Subsea Separation, Subsea Gas Compression), & by Region - Global Trends & Forecast to 2020", Subsea pumps are employed majorly in the offshore mature fields to improve the recovery rate by reducing back-pressure on the reservoir, thereby lowering the production expenditures. The report focuses on the subsea pump market based on its various types and applications for different regions. The oil price slump in 2014 has slowed the growth of the offshore hardware and equipment market due to non-profitable extraction of crude from the fields. Due to this many stakeholders have pulled their support from the offshore projects, resulting in a decline in offshore productions. Considering this, the report forecasts subsea pumps market till 2020.

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Subsea boosting is expected to be the largest application for subsea pumps and is expected to have more than 50% of the market share during the forecast period. Seabed boosting is at times deployed to ensure the flow of fluids from fields at the required rate after the natural reservoir pressure declines. It includes seabed multi-phase and down-hole boosting, raw seawater injection, and gas compression. Major factors that encourage the operators to adopt subsea boosting are the existence of heavy oil, the increased distance from the host, increased water depth, low reservoir pressure, and a greater number of field tiebacks to the host.

Subsea pumps market is majorly driven by the offshore exploration activities and the mature oilfields which require additional pressure in order to maintain a proper recovery rate. These activities are expected to have a healthy growth after 2016. The ultra-deep E&P activities are expected to witness huge investments and move to deeper reserves once the oil prices and the breakeven price for oil production return to normal. However, stringent government regulations for offshore exploration and production activities hamper the growth of the subsea pumps while uncertainty in oil prices remains a challenge to the key players.

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This report provides an analysis of key companies and competitive analysis of developments recorded in the industry in the last three years. Market drivers, restraints, opportunities, burning issues, and latest industry trends of the market have been discussed in detail. The leading players in the market such as OneSubsea (U.S.), FMC Technologies (U.S.), Aker Solutions (Norway), General Electric (U.S.), and Baker Hughes (U.S.) among others have been profiled in this report.

In 2015, South America is expected to have the largest market in the subsea pumps market. The reason behind this is the exploration and production in the off coast area of Brazil. Although the capital intensive projects have been put on hold or are currently not in play, but the region is still estimated to lead the subsea market.

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