Subsea Boosting Systems Market Trends 2015 - 2023 Nov 2016 | Page 2

Subsea Boosting Systems Market

REPORT DESCRIPTION

Subsea Boosting Systems Market - Global Industry Analysis, Size, Share, Growth Trends, and
Forecast 2015 - 2023
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.
Complete Report Subsea Boosting Systems Market with TOC :
http://www.transparencymarketresearch.com/subsea-boosting-systems-market.html
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.
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

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