A subsea boosting system mostly comprises a raw subsea water injection, gas compression, and multiphase and down-hole boosting. This procedure helps in faster and safer start-up of low-energy wells, surges production and recovery, enhances the economic life of the field, and allows for an innovative production strategy. The increasing depth of oilfields, low reservoir pressure, growing distance from the host, rising number of field tiebacks to the host, and heavy oil are some of the major factors that are estimated to boost the demand for the global subsea boosting systems market in the next few years.

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In 2014, the global market for subsea boosting systems was worth US$1.3 bn and is anticipated to reach a value of more than US$3 bn by the end of 2023. The market is projected to register a progressive 9.70% CAGR between 2015 and 2023.

Technologically Advanced Subsea Boosting Systems to Boost Production Capacities of Oil and Gas Companies

In recent years, the global market for subsea boosting systems market registered significant growth owing to the technological developments in this sector. The advancements in this market have resulted in boosting the production of ultra-deep water hydrocarbon, exploration of oil and gas in the Artic region, and enhancement of the recovery from existing reserves. The introduction of advanced and innovative subsea boosting systems has further helped major oil and gas companies in optimizing their production capacities.

Based on water depth, the global market for subsea boosting systems can be classified into deep water and shallow water systems. In 2014, the shallow water segment accounted for a 57.8% share in the global subsea boosting systems market. Furthermore, based on application, the global market for subsea boosting systems can be segmented into gas and oil fields. In 2014, the segment of oil fields accounted for the dominant share of 69.4% in the overall market.

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Brazil to Lead South and Central America Market for Subsea Boosting Systems by 2023

By geography, the global market for subsea boosting systems can be divided into North America, South and Central America, Asia Pacific, Africa, the Middle East, and Europe. In 2014, Asia Pacific accounted for the largest share of 25% in the global subsea boosting systems market. The high growth of this region can be contributed to the increasing production of gas and oil. Australia, Indonesia, and China are some of the countries that are contributing immensely towards the growth of the subsea boosting systems market in Asia Pacific. In addition, India, the Philippines, and South Korea are also a part of the subsea boosting systems market. Asia Pacific is followed by Europe and Africa in the global regional hierarchy. The increasing demand for energy, along with the requirement for increasing offshore oilfield production, is the major factor expected to drive the Europe market in the coming years. The South and Central America market for subsea boosting systems is anticipated to exhibit substantial growth in the next few years, with Brazil as the leading market in the region.

The prominent players operating in the global market for subsea boosting systems are OneSubsea, ITT Bornemann GmbH, Aker Solutions ASA, FMC Technologies, Inc., Sulzer Ltd., GE Oil & Gas, and Baker Hughes Incorporated.

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