Global Subsea pumps Market Size, Share, Growth Analysis Report - Forecast 2034

Subsea pumps Market Size

The global subsea pumps market size was worth around USD 1973.4 Million in 2024 and is predicted to grow to around USD 2718.28 Million by 2034 with a compound annual growth rate (CAGR) of roughly 3.4% between 2025 and 2034.

The report analyzes the global subsea pumps market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the subsea pumps industry.

Request Free Sample

Subsea pumps Market: Overview

Subsea pumps are used for boosting either hydrocarbon fluids or water. Subsea pumps are organized most ominously among the offshore developed fields to improve the performance or production rate, which is further achieved by reducing the reservoirs’ backpressure. Thus, the flow rate gets increased in the whole recoverable reserves. After that, the subsea pumps are organized up and down with the aid of a motor where is oil filled. This oil-filled motor is set up at the top and the pump section at the base. Moreover, the motor and pump are totally enclosed in force housing, which is perfect for subsea setup and planned for holding motor up to a water depth of 3,600m and pressures of up to 14,500psi. Besides, the subsea pumps are also unified for the requirement of offshore manufacturing of heavy oil.

Subsea pumps find massive applications in the manufacturing process of heavy oil in both developed and developing countries. The growing demand for energy and power industry is the primary factor boosting this market. Additionally, the rise in the number of deep-sea activities in the oilfields is likely to propel this market. The high oil demand from the energy and power industry is fuelling the offshore production investments along with maturing the onshore oilfields. Furthermore, there has been a substantial decline in the onshore and shallow gas reserves.

Thus, companies are forced to increase their focus on the deep sea reserves, thereby enhancing this market. Moreover, the ongoing developments in the subsea technologies with huge fiscal welfares are likely to positively impact this market’s development. These factors are likely to contribute toward the subsea pumps market growth over the forecast timeframe. However, volatile and fluctuating oil costs might hinder this market’s growth.

Key Insights

• As per the analysis shared by our research analyst, the global subsea pumps market is estimated to grow annually at a CAGR of around 3.4% over the forecast period (2025-2034).
• Regarding revenue, the global subsea pumps market size was valued at around USD 1973.4 Million in 2024 and is projected to reach USD 2718.28 Million by 2034.
• The subsea pumps market is projected to grow at a significant rate due to increasing deepwater and offshore oil exploration activities drive market demand.
• Based on Type, the Centrifugal segment is expected to lead the global market.
• On the basis of Application, the Subsea boosting segment is growing at a high rate and will continue to dominate the global market.
• Based on region, Europe & North America is predicted to dominate the global market during the forecast period.

Request Free Sample

Subsea Pumps Market: Growth Drivers

Increasing Application in Oil and Gas Industries

Offshore exploration has increased in recent times to meet the high demand for oil and gas across the world. This has led to a substantial increase in the adoption of subsea pumps in these industries. Especially as the offshore and onshore fields mature the scope of application for subsea pumps widens as they are deployed to enhance efficiency and keep the operations financially sustainable.

Subsea Pumps Market: Restraints

Stringent Mandates for Offshore and Onshore Explorations to Restrict Market Growth

Offshore and onshore oil explorations have not had a good history with environmental conservation and since the focus on conservation is paramount now this would have a negative impact on the subsea pumps market potential.

Subsea pumps Market: Segmentation Analysis

The global subsea pumps market is segmented based on Type, Application, and region.

Based on Type, the global subsea pumps market is divided into Centrifugal, Helico-axial, Hybrid pump, Twin screw, Co-axial, ESP.

On the basis of Application, the global subsea pumps market is bifurcated into Subsea boosting, Subsea separation, Subsea injection, Gas compression.

Subsea pumps Market: Report Scope

Recent Developments

• In April 2019 – Aker Solutions a leading name in subsea manufacturing in association with FSubsea announced a coalition for the creation of new Hydromag technology and new multiphase boosting pump systems.

Subsea pumps Market: Regional Analysis

The Latin America region leads the global subsea pumps market in terms of revenue and volume share and is anticipated to maintain this stance over the forecast period as well. The increasing establishment of oil and gas industries in this region is expected to provide lucrative opportunities for subsea pumps manufacturers in this region. Brazil is expected to be the most lucrative market in this region. Rising investments in oil and gas industries, a stable political environment, and supportive government initiatives are expected to boost the subsea pumps market growth in Brazil. Increasing deepwater operations in this region are also predicted to boost the subsea pumps market potential through 2028.

The market for subsea pumps in the Middle East and Africa regions is expected to provide highly lucrative opportunities owing to the presence of a robust oil and gas manufacturing infrastructure.

Subsea pumps Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the subsea pumps market on a global and regional basis.

The global subsea pumps market is dominated by players like:

• Aker Solutions
• Baker Hughes Incorporated
• FMC Technologies Inc.
• General Electric Company
• Onesubsea
• Sulzer AG
• SPX Corporation
• ITT Bornemann
• Flowserve Corporation
• Leistritz Pumpen Gmbh
• Framo as

The global subsea pumps market is segmented as follows;

By Type

• Centrifugal
• Helico-axial
• Hybrid pump
• Twin screw
• Co-axial
• ESP

By Application

• Subsea boosting
• Subsea separation
• Subsea injection
• Gas compression

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America