Subsea Pumps Market

By Deployment;

Shallow Water and Deepwater

By Application;

Boosting, Separation, Injection and Others

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn138498347 Published Date: September, 2025 Updated Date: November, 2025

Introduction

Subsea Pump Market (USD Million), 2021 - 2031

In the year 2024, the Global Subsea Pump Market was valued at USD 2,015.25 million. The size of this market is expected to increase to USD 3,278.63 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 7.2%.


Subsea Pumps Market

*Market size in USD million

CAGR 7.2 %


Study Period2025 - 2031
Base Year2024
CAGR (%)7.2 %
Market Size (2024)USD 2,015.25 Million
Market Size (2031)USD 3,278.63 Million
Market ConcentrationMedium
Report Pages324
2,015.25
2024
3,278.63
2031

Major Players

  • Aker Solutions ASA
  • Baker Hughes Co
  • Halliburton Company
  • Schlumberger Limited
  • Oceaneering International Inc.
  • TechnipFMC PLC
  • Weatherford International PLC
  • Drill-Quip Inc.
  • National-Oilwell Varco Inc
  • Subsea 7 SA
  • Saipem SpA

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Subsea Pumps Market

Fragmented - Highly competitive market without dominant players


The subsea pump market plays a pivotal role in supporting offshore oil and gas production operations by facilitating the efficient extraction and transportation of hydrocarbons from subsea wells to surface facilities. These pumps are specially designed to withstand the harsh conditions of subsea environments, including high pressures, corrosive fluids, and extreme temperatures. As offshore exploration ventures into deeper waters and more remote locations, the demand for subsea pumping solutions continues to grow, driven by the need to maintain production rates and optimize reservoir recovery.

Technological advancements have been instrumental in driving innovation and enhancing the performance of subsea pumps. These advancements include the development of high-capacity pumps, corrosion-resistant materials, and intelligent monitoring systems. Advanced pump designs enable efficient fluid transportation over long distances and across varying seabed conditions. Furthermore, real-time monitoring capabilities allow operators to remotely monitor pump performance, detect potential issues, and optimize operational parameters, thereby improving system reliability and reducing maintenance downtime.

The market for subsea pumps is segmented based on pump type, including centrifugal pumps, helico-axial pumps, and electrical submersible pumps (ESPs), among others. Additionally, the market is segmented by application, with subsea pumps deployed in various operations such as boosting, injection, and processing. Key players in the market are continuously investing in research and development activities to introduce innovative pump designs and technologies that address the evolving needs of offshore oil and gas production. With the expansion of deepwater projects, the focus on enhanced oil recovery techniques, and the increasing adoption of subsea processing systems, the subsea pump market is poised for continued growth in the coming years.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Deployment
    2. Market Snapshot, By Application
    3. Market Snapshot, By Region
  4. Subsea Pump Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Growing Offshore Oil and Gas Exploration
        2. Technological Advancements
        3. Expansion of Deepwater Projects
        4. Focus on Enhanced Oil Recovery (EOR)
      2. Restraints
        1. High Initial Investment Costs
        2. Technical Complexity and Challenges
        3. Regulatory Compliance and Environmental Concerns
        4. Limited Access to Remote Locations
      3. Opportunities
        1. Expansion of Offshore Oil and Gas Exploration
        2. Rise in Deepwater Projects
        3. Demand for Enhanced Oil Recovery (EOR) Techniques
        4. Expansion of Subsea Processing Systems
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Subsea Pumps Market, By Deployment, 2021 - 2031 (USD Million)
      1. Shallow Water
      2. Deepwater
    2. Subsea Pumps Market, By Application, 2021 - 2031 (USD Million)
      1. Boosting
      2. Separation
      3. Injection
      4. Others
    3. Subsea Pump Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Aker Solutions ASA
      2. OneSubsea
      3. Flowserve Corporation
      4. FMC Technologies
      5. Sulzer AG
      6. Baker Hughes Incorporated
      7. General Electric Company
      8. SPX Corporation
      9. ITT Bornemann
      10. Leistritz Pumpen GmbH
      11. Framo AS
      12. Oceaneering International
      13. TechnipFMC plc
      14. Schlumberger Limited
      15. Halliburton Company
  7. Analyst Views
  8. Future Outlook of the Market