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Global Subsea Boosting Systems Market: Snapshot

The global market for subsea boosting systems is dominated by three players, namely FMC Technologies, OneSubsea, and GE Oil & Gas. Together they accounted for a mammoth share of 78% in the market in 2014. Competition among them is intense too as they try to outsell one another through pricing strategies intended to lure more consumers. Other prominent names in the market are Aker Solutions, Baker Hughes Incorporated, Flowserve Corporation, Inc., Framo AS, General Electric Company, ITT Bornemann GmbH, Sulzer Ltd, and Leistritz Advanced Technologies Corp.

At present, the global market for subsea boosting systems is being driven by the burgeoning demand for fossil fuels and petroleum products and their effectiveness in improving production from developed reservoirs. However, the frontrunner among growth drivers is the technological progress in the field of deepwater and remote applications. Uncovering of offshore oil and gas fields in countries such as Angola, Gabon, Tanzania, Nigeria, and Mozambique have also presented an opportunity to companies in the market. One factor countering the growth is the volatile crude oil prices that pose a challenge to companies wanting to maintain consistent production costs.

A report by Transparency Market Research forecasts the global subsea boosting systems market to expand at a healthy CAGR of 9.7% 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.

Heavy Investments in Shallow Water Oil Drilling to Propel Sales Dramatically

Depending upon the depth of water, the global market for subsea boosting systems can be segmented into shallow water and deep water. The recent spate of investments in shallow water oil drilling will likely increase the revenue generated in the market dramatically. The usage of helicoaxial pumps with more effective subsea boosting systems is also anticipated to foster growth.

Based on applications again, the global market for subsea boosting systems can be further classified into oil and gas. With companies increasingly expending energy on discovery of oil fields, the oil field subsea boosting application segment is expected to grow its share in revenue to a substantial 67.7% by 2023.

The nations of China, the U.S., North Sea, Brazil, Gulf of Mexico, and Western Africa are key regions in the global oilfields subsea boosting systems market. Exploration of oil fields in water depths and tie-back distances is anticipated to generate the demand for subsea boosting systems in these regions.

Densely Populated Asia Pacific Stokes Demand   

From a geographical standpoint, Asia Pacific is the leading market for subsea boosting systems because of the burgeoning population in the region. This has generated need for energy procured from different sources and has in turn bolstered demand for subsea boosting systems. Hotbeds of subsea activities in the region are China, Vietnam, Australia, Indonesia, and Malaysia. However, the main drivers of the market in the region are Australia and China on account of being potential markets for the offshore drilling industry. Going forward, Asia Pacific is forecasted to gain a share 23.9% in revenue in the overall market.

Europe is another key region in the global market for subsea boosting. The rise in deepwater drilling activities in the continent is predicted to foster growth in the market in the foreseeable future. The Middle East will likely outpace all other regions in terms of growth rate owing to ongoing large-scale drilling activities in Saudi Arabia and U.A.E. It is also a mature market for shallow water exploration activities.

Massive Energy Consumption Levels to Increase the Demand across the Subsea Boosting System Market

The subsea boosting system market is prognosticated to witness immense growth across the assessment period of 2015-2023 on the back of the rising demand for fossil fuels and petroleum products around the world. Population density is growing thicker and it has increased the energy consumption levels to a considerable extent, eventually increasing the growth prospects of the subsea boosting system market.

  • Subsea boosting systems are used for enabling production from offshore wells without the necessity of surface production facilities. Enhanced oil and gas recovery, reduced surface production unit costs, expanding Net Present Value (NPV), and others are some of the benefits that bode well for the growth of the subsea boosting system market.
  • Thriving investments from various firms and conglomerates are estimated to have a positive impact on the growth of the subsea boosting system market. Investors are eyeing the subsea boosting system market due to the projections of a bright future owing to the increasing oil and gas exploration activities.
  • Research and development activities are an integral part of the growth of the subsea boosting system market. The players invest heftily in these activities. The activities help in developing novel formulations and insights that contribute to the expansion of the revenues, ultimately having a large effect on the growth of the subsea boosting system market.
  • Strategic collaborations also play an important role. Mergers, acquisitions, joint ventures, and partnerships help in strengthening the foothold of the players in the subsea boosting system market, eventually influencing the growth rate of the subsea boosting system market.
  • The COVID-19 pandemic has dented the growth prospects of many industries and sectors. The subsea boosting system market is no stranger to this loss. The growing prevalence of the virus forced many countries to enforce strict lockdowns. During this period, manufacturing facilities and production units were shut.
  • In addition, oil and gas exploration activities were also halted. This aspect had a negative impact on the growth of the subsea boosting system market. However, the relaxations in lockdown will bring relief to the players in the subsea boosting system market.

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

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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. 

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Subsea Boosting Systems Market