The Europe subsea pumps market size reached US$ 345.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 612.6 Million by 2032, exhibiting a growth rate (CAGR) of 6.4% during 2024-2032.
Report Attribute
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Key Statistics
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 345.5 Million |
Market Forecast in 2032
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US$ 612.6 Million |
Market Growth Rate 2024-2032 | 6.4% |
Subsea pumps are used to transport crude oil from the seabed to the production site. It consists of a power generator, conditioner, controller and transmitter. It also has a retrievable pump unit and pump base skid that reduces back-pressure on the reservoir, improves hydrocarbon recovery rate and lowers the overall production cost. These advantages are increasing the application of subsea pumps in oil and gas exploration activities in the deeper offshore areas of Europe.
With the escalating electricity demand, there is an increase in the production of oil in Europe. This represents one of the key factors bolstering the market growth. Moreover, rising investments in research and development (R&D) activities to enhance the temperature and pressure monitoring, minimize environmental footprint and control the flow of subsea pumps are acting as another major factor stimulating the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe subsea pumps market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on type and application.
Breakup by Type:
Breakup by Application:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Features | Details |
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Base Year of the Analysis | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Units | US$ Million |
Segment Coverage | Type, Application, Country |
Countries Covered | Germany, France, United Kingdom, Italy, Spain, Others |
Customization Scope | 10% Free Customization |
Report Price and Purchase Option | Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699 |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |