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Published Date: 2016-02-02Number of Pages: 102

Subsea Boosting Systems Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023

Subsea Boosting Systems Market: Snapshot 

Due to the increasing demand for fossil fuels and petroleum products worldwide, the need for subsea boosting systems is also rising as they are effective in enhancing the production from developed reservoirs. The most important driving factor for the global subsea boosting systems market is the technological advancements being made in the deepwater and remote applications segment. Numerous discoveries of offshore oil and gas fields in areas such as Angola, Tanzania, Gabon, Nigeria, and Mozambique are likely to be an opportunity for companies in the global subsea boosting systems market to profit from. However, the fluctuating prices of crude oil can impede the sales of subsea boosting systems globally as the inconsistent crude oil prices make it difficult for companies to maintain consistent production costs.

Owing to all these factors, the global subsea boosting systems market is projected to rise at a 9.7% CAGR from 2015 to 2023. The market was worth US$1.46 bn in 2015 and is estimated to reach US$3.07 bn by the end of 2023.

Asia Pacific to Emerge as Dominant Regional Market Due to Upswing in Energy Consumption

Asia Pacific is the largest market for subsea boosting systems due to the rising population in the region. This in turn has fuelled the need for energy derived from various sources thus boosting the demand for subsea boosting systems. The countries that are extensively engaged in subsea activities are China, Australia, Vietnam, Malaysia, and Indonesia. The demand for subsea boosting systems is anticipated to rise in countries such as China and Australia as they are the potential markets for the offshore drilling industry. Asia Pacific is likely to account for 23.9% of the overall revenue share in the global subsea boosting systems market in 2023.

The second largest region in the global subsea boosting market is Europe. The increase in deepwater drilling activities in Europe is expected to drive the market’s growth in the coming years. The Middle East is projected to emerge as the fastest growing region in the global subsea boosting systems market as a result of the ongoing drilling activities concentrated in Saudi Arabia and U.A.E. It is also a mature market for shallow water exploration activities.

Oil Field Subsea Boosting Systems to Generate Highest Revenue by 2023

With the increase in shallow water oil drilling investments, the revenue generated from subsea boosting systems used in oil fields is expected to rise substantially. The use of helicoaxial pumps with improved subsea boosting systems is expected to drive the growth of the oil fields subsea boosting systems application segment. With enhanced research activities being initiated by companies for the discovery of oil fields, the oil field subsea boosting application segment is anticipated to hold a share of 67.7% of the global revenues by 2023. China, Brazil, the U.S., North Sea, Gulf of Mexico, and Western Africa are projected to be the leading regions in the global market for oil fields subsea boosting systems. The emerging activities in the exploration of oil fields in water depths and tie-back distances is expected to drive the demand for subsea boosting systems in these regions.

The emergence of subsea gas compression technology and other advanced tools is expected to drive the growth of the gas subsea boosting systems market in the coming years.

The key companies in the global market for subsea boosting systems are Aker Solutions, Baker Hughes Incorporated, FMC Technologies, Flowserve Corporation, Inc., Framo AS, General Electric Company, ITT Bornemann GmbH OneSubsea, Sulzer Ltd, and Leistritz Advanced Technologies Corp.

Section 1 Preface

  • Report Description
  • Market Segmentation
  • Research Scope
  • Research Methodology

Section 2 Executive Summary

  • Global Subsea Boosting Systems Market Estimates and Forecasts (US$ Mn)
  • Overview

Section 3 Industry Analysis

  • Introduction
  • Value Chain Analysis of Subsea Boosting Systems Market
  • Market Dynamics
    • Driver 1 – Maturing oil and gas reserves and flat reserves-to-production ratio
    • Driver 2 – Technological advancements in subsea boosting equipment
    • Driver 3 – Growing subsea capital expenditure on production hardware
    • Restraint 1 – Fluctuating crude oil prices
    • Opportunity 1 – Rising number of offshore oil and gas discoveries
    • Opportunity 2 – Increase in drilling activities in deepwater and ultra-deepwater
  • Porter’s Five Forces Analysis
  • Market Attractiveness Analysis of Subsea Boosting Systems Market, 2014
  • Company Market Share, Subsea Boosting Systems Market (%) 2014

Section 4 Subsea Boosting Systems Market: Water Depth Overview

  • Global Subsea Boosting Systems Market, Estimates and Forecast, By Water Depth, 2014–2023 (US$ Mn)
  • Global Subsea Boosting Systems Market, Estimates and Forecast, By Shallow Water, 2014–2023 (US$ Mn)
  • Global Subsea Boosting Systems Market, Estimates and Forecast, By Deep Water, 2014–2023 (US$ Mn)

Section 5 Subsea Boosting Systems Market: Application Overview

  • Global Subsea Boosting Systems Market, Estimates and Forecast, By Application, 2014–2023 (US$ Mn)
  • Global Subsea Boosting Systems Market, Estimates and Forecast, by Oil Fields, 2014–2023 (US$ Mn)
  • Global Subsea Boosting Systems Market, Estimates and Forecast, by Gas Fields, 2014–2023 (US$ Mn)

Section 6 Subsea Boosting Systems Market - Regional Overview

  • Subsea Boosting Systems Market - Regional Overview
  • Subsea Boosting Systems Market - Asia Pacific
  • Asia Pacific Subsea Boosting Systems Market, Estimates and Forecast, By Water Depth, By Value, 2014-2023 (US$ Mn)
    • Australia Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
    • China Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
    • Rest of Asia Pacific Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
  • Subsea Boosting Systems Market - Europe
  • Europe Subsea Boosting Systems Market , Estimates and Forecast, By Water Depth, By Value, 2014-2023 (US$ Mn)
    • Norway Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
    • U.K. Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
    • Rest of Europe Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
  • Subsea Boosting Systems Market - Africa
  • Africa Subsea Boosting Systems Market, Estimates and Forecast, By Water Depth, By Value, 2014-2023 (US$ Mn)
    • Nigeria Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
    • Angola Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
    • Rest of Africa Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
  • Subsea Boosting Systems Market - South & Central America
  • South & Central America Subsea Boosting Systems Market, Estimates and Forecast, By Water Depth, By Value, 2014-2023 (US$ Mn)
    • Brazil Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
    • Venezuela Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
    • Rest of South & Central America Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
  • Subsea Boosting Systems Market – North America
  • North America Subsea Boosting Systems Market, Estimates and Forecast, By Water Depth, By Value, 2014–2023 (US$ Mn)
    • U.S. Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
    • Mexico Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
    • Rest of North America Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
  • Subsea Boosting Systems Market – Middle East
  • Middle East Subsea Boosting Systems Market, Estimates and Forecast, By Water Depth, By Value, 2014–2023 (US$ Mn)
    • Saudi Arabia Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
    • U.A.E. Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)
    • Rest of Middle East Subsea Boosting Systems Market, by Revenue, 2014–2023 (US$ Mn)

Section 7 Company Profiles

  • Aker Solutions
  • Baker Hughes Incorporated
  • Flowserve Corporation
  • FMC Technologies, Inc.
  • Framo AS
  • General Electric Company
  • ITT Bornemann GmbH
  • Leistritz Advanced Technologies Corp
  • OneSubsea
  • Sulzer Ltd. 

This research study analyzes the market for subsea boosting systems in terms of revenue (US$ Mn). The subsea boosting systems market has been segmented on the basis of water depth, application, and geography. The geographical segmentation includes regions which are further divided into twelve countries - major players in the global subsea boosting systems market. The report features a detailed regional segmentation with market growth forecasts for the 2015-2023 period. For the research, 2014 has been taken as the base year, while all forecasts have been given for the period from 2015 to 2023. Market data for all the segments has been provided at the regional as well as country-specific level from 2015 to 2023. The report provides a broad competitive analysis of companies engaged in the subsea boosting systems business. The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the global subsea boosting systems market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive analysis of the global subsea boosting systems market with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the structure and profitability of the global subsea boosting systems market. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.  

The high-level analysis in the report provides detailed insights into the subsea boosting systems business globally. There are currently numerous drivers of the market. The most prominent drivers include growing deep water exploration and production (E&P) activities and rising investments to enhance recovery of oil and gas from maturing subsea wells. Subsea oil and gas proven reserves by various regions were also considered for market analysis. Market attractiveness analysis was carried out for the subsea boosting systems market on the basis of application. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.  

The subsea boosting systems market was segmented on the basis of water depth (shallow water and deep water), application (oil and gas), and geography. The subsea boosting systems market has been segmented into six regions: North America, Asia Pacific, Europe, South & Central America, Africa, and the Middle East. Regional data has been provided for each sub-segment of the subsea boosting systems market. Key players in the subsea boosting systems market include FMC Technologies, Inc., OneSubsea, GE Oil & Gas, Aker Solutions ASA, Baker Hughes Incorporated, ITT Bornemann GmbH, and Sulzer Ltd. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.

Subsea Boosting Systems Market: By Water Depth

  • Shallow Water
  • Deep Water 

Subsea Boosting Systems Market: By Application

  • Oil
  • Gas 

Subsea Boosting Systems Market: By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Norway
    • U.K.
    • Rest of Europe
  • Asia Pacific
    • Australia
    • China
    • Rest of Asia Pacific
  • South & Central America
    • Brazil
    • Venezuela
    • Rest of South & Central America
  • Africa
    • Nigeria
    • Angola
    • Rest of Africa
  • Middle East
    • Saudi Arabia
    • UAE
    • Rest of Middle East