Single Phase Subsea Pump Market
The market for Single Phase Subsea Pump was estimated at $642 million in 2024; it is anticipated to increase to $1.06 billion by 2030, with projections indicating growth to around $1.62 billion by 2035.
Report Summary
Market Data
Methodology
Table of Contents
Global Single Phase Subsea Pump Market Outlook
Revenue, 2024
$642M
Forecast, 2034
$1.49B
CAGR, 2025 - 2034
8.8%
The Single Phase Subsea Pump industry revenue is expected to be around $698.3 million in 2025 and expected to showcase growth with 8.8% CAGR between 2025 and 2034. The strong expansion of the Single Phase Subsea Pump industry is fueled by important factors such as the increasing need in the oil and gas sector and the requirement for innovative pumping solutions in deep sea exploration operations which is notably boosting the market growth significantly Furthermore ongoing technological progressions and a growing emphasis on cutting operational expenses have also heightened the importance of Single Phase Subsea Pumps, in today's industrial scenario. The increasing offshore drilling operations and the rising demand, for effective pumping systems have played a role in the markets growth as well.
The Single Phase Subsea Pump is a notch pumping system tailored for underwater use with a focus on efficiency and longevity in mind - qualities highly valued by the oil and gas sector for various operations like offshore drilling and deep sea ventures as well as extracting subsea oil reserves amidst theindustry'sshift, towards digitalization and automation prompting the emergence of intelligent and automated Single Phase Subsea Pumps.
Market Key Insights
- The Single Phase Subsea Pump market is projected to grow from $641.8 million in 2024 to $1.49 billion in 2034. This represents a CAGR of 8.8%, reflecting rising demand across Oil & Gas Extraction, Seawater Injection and Chemical Injection.
- Aker Solutions, Baker Hughes, Schlumberger Limited are among the leading players in this market, shaping its competitive landscape.
- U.S. and Norway are the top markets within the Single Phase Subsea Pump market and are expected to observe the growth CAGR of 6.4% to 9.2% between 2024 and 2030.
- Emerging markets including Indonesia, Nigeria and Indonesia are expected to observe highest growth with CAGR ranging between 8.4% to 11.0%.
- Transition like Digital Transformation is expected to add $34 million to the Single Phase Subsea Pump market growth by 2030.
- The Single Phase Subsea Pump market is set to add $850 million between 2024 and 2034, with manufacturer targeting Gas Boosting & Water Injection Applications projected to gain a larger market share.
- With
increasing offshore oil production, and
technological advancements in subsea systems, Single Phase Subsea Pump market to expand 132% between 2024 and 2034.
Opportunities in the Single Phase Subsea Pump
Building partnerships and working together could also fuel the growth of Single Phase Subsea Pump systems. Collaborating with businesses or key players in the industry enables manufacturers to broaden their market impact tap into new customer bases and make use of combined resources, for developing products and marketing strategies.
Growth Opportunities in North America and Asia-Pacific
North America— the United States—boasts a thriving market for Single Phase Subsea Pump thanks to the significant offshore oil and gas exploration in the region. Major industry players and advancements, in subsea systems have driven up demand. Competition is marked by innovation and strategic collaborations as leading companies work on improving pump performance and dependability. In this region of focus are the factors like the increasing offshore drilling operations and strict environmental rules alongside the demand, for enhanced subsea technologies to improve oil and gas recovery.
In the Asia Pacific region countries such as China and India have seen a rise in the Single Phase Subsea Pump market along with Australia joining this growth trend too due to the growing interest in offshore exploration activities especially in regions like the South China Sea and Indian Ocean where competition among local and global companies, for market dominance is fierce. In this region of the market the factors that push it forward are the increasing need for energy the efforts by the government to encourage drilling and the necessity, for effective subsea pumping systems to optimize oil and gas output.
Market Dynamics and Supply Chain
01
Driver: Increasing Offshore Oil Production, and Strict Environmental Regulations
Offshore oil production is also increasingly sought after playing a role in the Single Phase Subsea Pump markets growth trajectory. These pumps are also valued for their effectiveness in deep sea environments making them vital for extracting oil reserves. The market for Single Phase Subsea Pump is also projected to expand due to the growing energy needs and a shift, towards exploiting new offshore oil fields. The stringent environmental regulations imposed on offshore oil and gas operations are also driving the demand for Single Phase Subsea Pumps. These pumps help in reducing the environmental impact by minimizing fluid leakages and ensuring efficient extraction of oil and gas. The need to comply with these regulations and maintain operational efficiency is also expected to further boost the market growth of Single Phase Subsea Pumps.
The ongoing progress in technology plays a crucial role in the Single Phase Subsea Pump industry as well. An increase in the production of pumps that are also more effective and dependable under challenging underwater circumstances has also resulted in a rise in the use of Single Phase Subsea Pumps across different sectors. These advancements have also also facilitated the investigation and retrieval of oil and gas from areas that were also previously inaccessible. This has also subsequently broadened the scope of the market, for Single Phase Subsea Pumps.
02
Restraint: High Initial Investment
The starting expense for setting up a Single Phase Subsea Pump is considerably high. May discourage potential buyers/users from investing in it initially because of the top notch technology and premium materials incorporated into these pumps that drive up the overall price tag significantly – not only to mention the additional costs linked to maintenance and upkeep which can pose a notable financial challenge in the market sphere; especially for smaller businesses, with constrained financial resources.
03
Opportunity: Expanding Offshore Oil & Gas Exploration and Technological Advancements in Pump Design
The growth of the oil and gas sector on a worldwide scale is driving an increase in the need for Single Phase Subsea Pumps to escalate further in the coming years ahead. Their pivotal function in the extraction process ensures smooth and dependable operations are maintained consistently. This significance is particularly pronounced in areas harboring oil and gas reservoirs with considerable potential, for deploying Single Phase Subsea Pumps effectively.
Innovations in pump technology are opening up opportunities for the advancement of Single Phase Subsea Pumps with enhanced designs that promise better performance and longevity while also focusing more heavily towards energy efficiency which is becoming a priority, within the industry sector as a whole Companies capable of providing these cutting edge solutions will stand out competitively going forward as technology progresses.
04
Challenge: Technical Challenges
The Single Phase Subsea Pump operates in harsh and unpredictable underwater conditions. This requires robust design and technology, which can be challenging to develop and implement. Additionally, any malfunction or breakdown in the pump can lead to expensive and time-consuming repair processes. These technical challenges can hinder the market growth and demand for Single Phase Subsea Pumps.
Supply Chain Landscape
1
Raw Material Acquisition
BHP BillitonRio Tinto
2
Component Manufacturing
General ElectricSiemens
3
Assembly & Testing
Aker SolutionsTechnipFMC
4
Distribution & Sales
SchlumbergerBaker Hughes
1
Raw Material Acquisition
BHP BillitonRio Tinto
2
Component Manufacturing
General ElectricSiemens
3
Assembly & Testing
Aker SolutionsTechnipFMC
4
Distribution & Sales
SchlumbergerBaker Hughes
Use Cases of Single Phase Subsea Pump in Oil & Gas Extraction & Seawater Injection
Oil & Gas Extraction : The Single Phase Subsea Pump is predominantly used in the oil and gas industry for extraction purposes. Its high-pressure capabilities and robust design make it ideal for handling the harsh conditions of subsea operations. The pump facilitates efficient oil extraction by maintaining the pressure in the reservoir, thereby enhancing the recovery rate. Top players in this sector, such as Schlumberger and Baker Hughes, leverage the strength of these pumps to maintain their market position and optimize their extraction processes.
Seawater Injection : Single Phase Subsea Pumps are extensively used for seawater injection to maintain reservoir pressure and enhance oil recovery. These pumps are preferred for their high reliability and ability to handle large volumes of seawater under high pressure. Companies like Aker Solutions and OneSubsea are leading in this application, utilizing the unique advantages of Single Phase Subsea Pumps to maximize their oil recovery rates.
Chemical Injection : In the chemical injection process, Single Phase Subsea Pumps play a crucial role in injecting chemicals into the oil wells to prevent corrosion, hydrate formation, and wax deposition. These pumps are known for their precision and ability to handle corrosive chemicals. Halliburton and TechnipFMC are among the top players in this application, leveraging the strengths of Single Phase Subsea Pumps to maintain the integrity of their oil wells and ensure smooth operations.
Recent Developments
The Single Phase Subsea Pump market seen significant advancements, primarily driven by the increasing demand for efficient oil and gas extraction methods. This specialized pump, designed to operate in the challenging subsea environment, has become a crucial component in the offshore oil and gas industry.
December 2024 : Subsea Technologies Inc. announced the launch of its advanced Single Phase Subsea Pump with a higher efficiency rating, designed to withstand harsh offshore conditions
October 2024 : Baker Hughes, a leading provider in the industry, introduced a Single Phase Subsea Pump with innovative pressure handling capabilities, aiming to enhance oil recovery in deepwater operations
August 2024 : Schlumberger, a key player in the market, unveiled a new Single Phase Subsea Pump with improved reliability and extended lifespan, targeting the growing demand in offshore oil and gas exploration.
Impact of Industry Transitions on the Single Phase Subsea Pump Market
As a core segment of the Oil & Gas industry,
the Single Phase Subsea Pump market develops in line with broader industry shifts.
Over recent years, transitions such as Digital Transformation and Shift Towards Renewable Energy have redefined priorities
across the Oil & Gas sector,
influencing how the Single Phase Subsea Pump market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Digital Transformation
The Single Phase Subsea Pump sector is going through a shift towards digitalization with technological advancements paving the way for smart systems that enhance pump efficiency while minimizing downtime and boosting operational effectiveness. One key example of this transformation is the incorporation of devices and predictive maintenance tools driven by AI technology – a game changer in how these pumps are supervised and serviced. This evolution not only enhances the durability and performance of the pumps but also brings about substantial savings, in operational expenses. The influence of this shift to technology has had a noticeable effect on related sectors like the oil and gas industry; particularly in the extraction processes involving subsea pumps which are crucial for operations in this field. The introduction of pumps has allowed these industries to improve their efficiency and financial performance leading to an increase, in their expansion.
02
Shift Towards Renewable Energy
The global push towards sustainability has led to a shift in the Single Phase Subsea Pump industry towards renewable energy. The industry is now focusing on the development of energy-efficient subsea pumps that can operate on renewable energy sources such as wind and solar power.