HOME Top Market Reports Subsea Well Access and BOP System Market by Type [Well Access System Type (Riserbased WAS and Riserless WAS) and BOP Type (Annular BOP and RAM Type BOP)] and Geography - Global Trends & Forecasts to 2019

Subsea Well Access and BOP System Market by Type [Well Access System Type (Riserbased WAS and Riserless WAS) and BOP Type (Annular BOP and RAM Type BOP)] and Geography - Global Trends & Forecasts to 2019

By: marketsandmarkets.com
Publishing Date: April 2014
Report Code: EP 2383

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Subsea well access and blowout preventer system are critical equipment used for successful subsea drilling and production operations. The appropriate application of this equipment is essential for effective and safe drilling operations as well as efficient production. On the basis of the types, the subsea well access system market is segmented into two types namely; Rig based well access system, which is used for heavy well intervention, and Vessel based well access system, which is used for medium and light well intervention. Vessel based well access system is also known as Riserless Light Well Intervention (RLWI) system, which is one of the most economical intervention techniques. The Rig based well access system can further be classified as; Completion Workover Riser System, Landing String System and Others (which includes systems like Through Tube Rotary Drilling System). blowout preventer systems are also of two types namely; Annular BOP and RAM type BOP.

The rising safety concerns and improvised production efficiency are some of drivers of the subsea well access system market. With increasing safety regulations being imposed and stringent penalties for non-compliance, oil and gas operators are forced to implement improved and effective drilling equipment in the subsea environment. The industry is therefore expected to show sound growth in the coming years. The global market is therefore expected to grow to approximately $4.1 billion by 2019, at a CAGR of 5.1% from 2014 to 2019. Similarly, the subsea BOP market is expected to grow to approximately $5.8 billion by 2019, at a CAGR of 7.7% from 2014 to 2019.

Europe is the largest market for subsea well access system, due to the high number of aged wells required for interventions followed by South America. Emerging markets include Asia-Pacific and Africa. These regions are likely to continue to dominate in future. Asia-Pacific is the biggest market for subsea blowout preventer system followed by North America, and South America. Emerging market include Europe, Middle East and Africa. North America was the second largest market in 2013. It is expected to grow at a CAGR of over 7.8% between 2014 and 2019, however in coming years; by 2019, this market will be replaced by the Middle East.

The report analyzes and classifies this equipment by type and region. Market split by application includes rig based well access system, which can further be classified as completion workover riser system, landing string system and others (which includes systems like through tube rotary drilling system), and vessel less well access system (also known as riserless light well intervention system). The subsea blowout preventer system market by type includes Annular BOP market and RAM type BOP market. The market by geography includes Asia-Pacific, Europe, Africa, the Middle East, North America, and South America.

The report estimates the global subsea well access and blowout preventer system market by the intensity of drilling activities and subsea well interventions. It highlights various key industrial issues and market impulse factors. It also describes a number of important dynamics such as drivers, restraints, and opportunities.

In order to provide a deeper understanding of the competitive landscape, the report includes profiles of some major subsea well access and blowout preventer system manufacturers such as FMC Technologies (U.S.), Aker Solutions (Norway), Weatherford International Limited (Switzerland), Cameron International Corporation (U.S.), National Oil Well Verco Inc., Proserve (U.K.), Uztel Ltd. (Romania) etc.

The scope aids market participants identify high growth markets and helps managing key investment decisions. For this study, major market players are identified through secondary and primary research activities. The market share analysis of these key players is arrived at, based on key facts, annual financial information, and interviews with key opinion leaders such as CEOs, Directors, and marketing executives.

Table Of Contents
 
1 Introduction (Page No. - 16)
    1.1 Key Take-Aways
    1.2 Report Description
          1.2.1 Market Definitions
    1.3 Markets Covered
    1.4 Stakeholders
    1.5 Research Methodology
          1.5.1 Approach
          1.5.2 Market Size Estimation
          1.5.3 List of Secondary Data Sources
          1.5.4 Key Data Points Taken From Primary Sources
    1.6 Assumptions Made For This Report

2 Executive Summary (Page No. - 24)

3 Market Overview (Page No. - 26)
    3.1 Introduction
          3.1.1 Key Findings
    3.2 Market Segmentation
          3.2.1 Subsea Well Access System
                  3.2.1.1 By Geography
                  3.2.1.2 By Type
          3.2.2 Subsea Blowout Preventers
                  3.2.2.1 By Geography
                  3.2.2.2 By Type
    3.3 Market Dynamics
          3.3.1 Subsea Well Access System Market Drivers
                  3.3.1.1 Alternative Solutions to Costly Rig Based Systems
                  3.3.1.2 Improvise Production Efficiency in offshore Wells
                  3.3.1.3 Increasing Number of Brown Field Projects
          3.3.2 Subsea Blowout Preventers System Market Drivers
                  3.3.2.1 Increment in The Exploration Activities
                  3.3.2.2 Rising Safety Concerns
                  3.3.2.3 Subsea Infrastructure Market Growth
          3.3.3 Market Restraints
                  3.3.3.1 High Installation and Operational Risks
          3.3.4 Winning Imperative
                  3.3.4.1 Riserless - The Future of Well Access Market
                  3.3.4.2 Technological Advancements of Subsea Systems
          3.3.5 Burning Issue
                  3.3.5.1 Demand For Safer Subsea Operations
                  3.3.5.2 Shortage of Technical Expertise
          3.3.6 Value Chain Analysis
                  3.3.6.1 Subsea Well Access System
                            3.3.6.1.1 Original Equipment Manufacturer
                            3.3.6.1.2 Service Providers
                            3.3.6.1.3 End Users
                  3.3.6.2 Subsea Blowout Preventer
                            3.3.6.2.1 Raw Material Manufacturers
                            3.3.6.2.2 End Users
    3.4 Porter’s Five Forces Model
          3.4.1 Threat of Substitutes
          3.4.2 Threat of New Entrants
          3.4.3 Bargaining Power of Buyers
          3.4.4 Bargaining Power of Suppliers
    3.4.5 Industry Rivalry

4 Premium Insights (Page No. - 51)
    4.1 Global Subsea Market By Region, 2013 & 2019
          4.1.1 Subsea Well Access System Market, By Region, 2013 & 2019
          4.1.2 Global Subsea Blowout Preventer Systems Market, By Region, 2013 & 2019
    4.2 Global Subsea Market By Type, 2013 & 2019
          4.2.1 Global Subsea Well Access System Market, By Type, 2013 & 2019
          4.2.2 Global Subsea BOP Market, By Type, 2013 & 2019
    4.3 Maximum Growth For Riserless Light Well Intervention (RLWI) Systems Market, 2012–2019
    4.4 Maximum Growth For Ram Type Blowout Preventer System Market, 2012–2019
    4.5 Well Access Systems Market Estimation and Growth Analysis, 2013
    4.6 Blowout Preventer System Market Estimation and Growth Analysis, 2013
    4.7 Regional Market Lifecycle
          4.7.1 Subsea Well Access System
          4.7.2 Subsea BOP
    4.8 Market Share Comparision
          4.8.1 Subsea Well Access System 2013 & 2019
          4.8.2 Subsea Blowout Preventers Systems 2013 & 2019

5 Subsea Well Access System: Market Analysis (Page No. - 64)
    5.1 Introduction
    5.2 Global Subsea Well Access System Market, By Type
          5.2.1 Vessel-Based Well Access Systems
                  5.2.1.1 Definition and Description
                  5.2.1.2 Vessel-Based Well Access Systems Revenue, By Geography
                  5.2.1.3 Vessel-Based Well Access Systems Volume, By Geography
          5.2.2 Rig-Based Well Access Systems
                  5.2.2.1 Definition and Description
                  5.2.2.2 Rig-Based Well Access Systems Value, By Geography
                  5.2.2.3 Rig-Based Well Access Systems Volume, By Geography
                  5.2.2.4 Completion Workover Riser Systems
                  5.2.2.5 Definition and Description
                            5.2.2.5.1 Completion Workover Riser Systems Value, By Geography
                            5.2.2.5.2 Completion Workover Riser Systems Volume, By Geography
                  5.2.2.6 Landing String Systems
                            5.2.2.6.1 Definition and Description
                            5.2.2.6.2 Landing String Systems Value, By Geography
                            5.2.2.6.3 Landing String Systems Volume, By Geography
                  5.2.2.7 Others
                            5.2.2.7.1 Others Value, By Geography
                            5.2.2.7.2 Others Volume, By Geography
    5.3 Global Subsea Well Access System Market, By Geography
          5.3.1 Industry Trends
          5.3.2 Global Subsea Well Access System Market Revenue, By Geography, 2013
          5.3.3 Global Subsea Well Access Systems Market Volume, By Geography, 2013
          5.3.4 North-American Region
                  5.3.4.1 Industry Trends
                  5.3.4.2 North America Subsea Well Access System Market Value, By Type, 2013
                  5.3.4.3 North America Subsea Well Access System Market Volume, By Type, 2013
          5.3.5 South-American Region
                  5.3.5.1 Industry Trends
                  5.3.5.2 South America Subsea Well Access System Market Value, By Type, 2013
                  5.3.5.3 South America Subsea Well Access System Market Volume, By Type, 2013
          5.3.6 Asia-Pacific Region
                  5.3.6.1 Industry Trend
                  5.3.6.2 Asia Pacific Subsea Well Access System Market Revenue, By Type, 2013
                  5.3.6.3 Asia-Pacific Subsea Well Access System Market Volume, By Type, 2013
          5.3.7 European Region
                  5.3.7.1 Industry Trend
                  5.3.7.2 Europe Subsea Well Access System Market Value, By Type, 2013
                  5.3.7.3 Europe Subsea Well Access System Market Volume, By Type, 2013
          5.3.8 Middle-Eastern Region
                  5.3.8.1 Industry Trend
                  5.3.8.2 Middle East Subsea Well Access System Market Value, By Type, 2013
                  5.3.8.3 Middle East Subsea Well Access System Market Volume, By Type, 2013
          5.3.9 African Region
                  5.3.9.1 Industry Trend
                  5.3.9.2 Africa Subsea Well Access System Market Value, By Type, 2013
                  5.3.9.3 Africa Subsea Well Access System Market Volume, By Type, 2013

6 Subsea Blowout Preventer: Market Analysis (Page No. - 93)
    6.1 Introduction
    6.2 Global Subsea BOP Market, By Type, 2013
          6.2.1 Annular BOP Market
                  6.2.1.1 Definition and Description
                  6.2.1.2 Annular Blowout Preventer System Market Revenue, By Geography, 2013
                  6.2.1.3 Annular Blowout Preventer System Market Volume, By Geography, 2013
          6.2.2 Ram BOP Market
                  6.2.2.1 Definition and Description
                  6.2.2.2 Ram BOP System Market Value, By Geography, 2013
                  6.2.2.3 Ram Blowout Preventer System Market Volume, By Geography, 2013
    6.3 Global SubseaBlowout Preventer System Market, By Geography, 2013
    6.4 North America’s Subsea Blowout Preventer  Market
          6.4.1 Industry Trend
          6.4.2 North America Blowout Preventer System Market Value, By Type
          6.4.3 North America Blowout Preventer  System Market Volume, By Type
    6.5 South America’s Subsea Blowout Preventer System Market
          6.5.1 Industry Trend
          6.5.2 South America Blowout Preventer System Market Value, By Type
          6.5.3 South America Blowout Preventer Market Volume, By Type
    6.6 Asia Pacific Subsea Blowout Preventer System Market
          6.6.1 Industry Trend
          6.6.2 Asia Pacific Blowout Preventer System Market Value, By Type
          6.6.3 Asia Pacific Blowout Preventer System Market Volume, By Type
    6.7 Europe Subsea Blowout Preventer System  Market
          6.7.1 Industry Trend
          6.7.2 Europe Blowout Preventer System Market Value, By Type
          6.7.3 Europe Blowout Preventer Market Volume, By Type
    6.8 Middle East Subsea Blowout Preventer System Market
          6.8.1 Industry Trend
          6.8.2 Middle East Blowout Preventer System Market Revenue, By Type
          6.8.3 Middle East Blowout Preventer Market Volume, By Type
    6.9 Africa Subsea BOP System Market
          6.9.1 Industry Trend
          6.9.2 Africa Blowout Preventer System Market Value, By Type
          6.9.3 Africa Blowout Preventer Market Volume, By Type

7 Competitive Landscape (Page No. - 118)
    7.1 Introduction
    7.2 Market Key Players
          7.2.1 List of Key Players
          7.2.2 Key Companies Focus Areas
    7.3 Equipment Supply Leads The Way
    7.4 SWOT Analysis of Major Companies
          7.4.1 Aker Solutions
          7.4.2 Cameron International Corporation
          7.4.3 FMC Technologies
          7.4.4 National Oilwell Varco Inc.
          7.4.5 Rongsheng Machinery Manufacture Ltd.
          7.4.6 Weatherford International Limited
    7.5 Competitive Situation and Trend
          7.5.1 Contract Agreements
          7.5.2 Business Expansion
          7.5.3 Mergers and Acquisitions
          7.5.4 Other Developments

8 Company Profiles (Company At A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)* (Page No. - 138)
    8.1 Aker Solutions
    8.2 FMC Technologies
    8.3 Weatherford International Limited
    8.4 Island offshore
    8.5 Tenaris
    8.6 Cameron International Corporation
    8.7 National Oil Well Varco Inc
    8.8 Proserv
    8.9 Uztel Ltd.
    8.10 Rongsheng Machinery Manufacture Ltd.

*Details on Company At A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.
 
List of Tables (68 Tables)

Table 1 Global offshore Wells, By Geography, 2006–2014
Table 2 Supply of Crude Oil, By Geography, 2007-2011, Bbl/Day (‘000)
Table 3 Global offshore Rig Counts, By Geography, 2011-2014
Table 4 Global Vessel-Based Well Access Systems Market Value, By Geography, 2012–2019 ($Million)
Table 5 Global Vessel-Based Well Access Systems Market Volume, By Geography, 2012–2019 (Units)
Table 6 Global Rig-Based Well Access Systems Market Value, By Geography, 2012–2019 ($Million)
Table 7 Global Rig-Based Well Access Systems Market Volume, By Geography, 2012–2019 (Units)
Table 8 Global Completion Workover Riser Systems Market Value, By Geography, 2012–2019 ($Million)
Table 9 Global Completion Workover Riser Systems Market Volume, By Geography, 2012–2019 (Units)
Table 10 Global Landing String Systems Market Value, By Geography, 2012–2019 ($Million)
Table 11 Global Landing String Systems Market Volume, By Geography, 2012–2019 (Units)
Table 12 Global Others Market Value, By Geography, 2012–2019 ($Million)
Table 13 Global Others Market Volume, By Geography, 2012–2019 (Units)
Table 14 Global Well Access Systems Market Value, By Geography, 2012–2019 ($Million)
Table 15 Global Well Access Systems Market Volume, By Geography, 2012–2019 (Units)
Table 16 North America Subsea Well Access System Market Value, By Type, 2012–2019 ($Million)
Table 17 North America Subsea Well Access System Market Volume, By Type, 2012–2019 (Units)
Table 18 South America Subsea Well Access System Market Value, By Type, 2012–2019 ($Million)
Table 19 South America Subsea Well Access Systems Market Volume, By Type, 2012–2019 (Units)
Table 20 Asia-Pacific Subsea Well Access System Market Value, By Type, 2012–2019 ($Million)
Table 21 Asia Pacific Subsea Well Access System Market Volume, By Type, 2012–2019 (Units)
Table 22 Europe Subsea Well Access System Market Value, By Type, 2012–2019 ($Million)
Table 23 Europe Subsea Well Access System Market Volume, By Type, 2012–2019 (Units)
Table 24 Middle East Subsea Well Access System Market Revenue, By Type, 2012–2019 ($Million)
Table 25 Middle East Subsea Well Access System Market Volume, By Type, 2012–2019 (Units)
Table 26 Africa Subsea Well Access System Market Value, By Type, 2012–2019 ($Million)
Table 27 Africa Subsea Well Access System Market Volume, By Type, 2012–2019 (Units)
Table 28 Global Annular Blowout Preventer System Market Value, By Geography, 2012–2019 ($Million)
Table 29 Global Annular Blowout Preventer System Market Volume, By Geography, 2012–2019 (Units)
Table 30 Global Ram Blowout Preventer System Market Value, By Geography, 2012–2019 ($Million)
Table 31 Global Ram Blowout Preventer System Market Volume, By Geography,  2012–2019 (Units)
Table 32 Global offshore Blowout Preventer Systems Market Value, By Geography, 2012–2019 ($Million)
Table 33 Global offshore Blowout Preventer System Market Volume, By Geography, 2012–2019 (Units)
Table 34 North America: offshore Blowout Preventer System Market Value, By Type, 2012–2019 ($Million)
Table 35 North America: offshore Blowout Preventer System Market Volume, By Type, 2012–2019 (Units)
Table 36 South America: offshore Blowout Preventer Systems Market Value, By Type, 2012–2019 ($Million)
Table 37 South America: offshore Blowout Preventer System Market Volume, By Type, 2012–2019 (Units)
Table 38 Asia Pacific: offshore Blowout Preventer System Market Value, By Type, 2012–2019 ($Million)
Table 39 Asia Pacific: offshore Blowout Preventer System Market Volume, By Type, 2012–2019 (Units)
Table 40 Europe: offshore Blowout Preventer Systems Market Value, By Type, 2012–2019 ($Million)
Table 41 Europe: offshore Blowout Preventer System Market Volume, By Type,  2012–2019 (Units)
Table 42 Middle East: offshore Blowout Preventer Systems Market Value, By Type, 2012–2019 ($Million)
Table 43 Middle East: offshore Blowout Preventer System Market Volume, By Type, 2012–2019 (Units)
Table 44 Africa: offshore Blowout Preventer System Market Value, By Type,  2012–2019 ($Million)
Table 45 Africa: offshore Blowout Preventer Systems Market Volume, By Type,  2012–2019 (Units)
Table 46 Contract Agreements, 2011–2013
Table 47 Business Expansion, 2012–2013
Table 48 Mergers and Acquisitions, 2011–2014
Table 49 Other Developments, 2011–2014
Table 50 Aker Solutions: Products and Services
Table 51 Aker Solutions: Developments
Table 52 FMC Technologies: Product and Services
Table 53 FMC Technologies: Developments
Table 54 Weatherford International Limited: Products and Services
Table 55 Weatherford International Limited: Developments
Table 56 Island offshore: Products and Services
Table 57 Island offshore: Developments
Table 58 Tenaris: Products and Services
Table 59 Tenaris: Developments
Table 60 Cameron International Corporation: Products and Services
Table 61 Cameron International Corporation: Developments
Table 62 National Oil Well Varco Inc: Products and Services
Table 63 National Oil Well Varco Inc: Developments
Table 64 Proserv: Developments
Table 65 Uztel Ltd.: Products and Services
Table 66 Uztel Ltd.: Developments
Table 67 Rongsheng Machinery Manufacture Ltd.: Products and Developments
Table 68 Rongsheng Machinery Manufacture Ltd.: Developments


List of Figures (44 Figures)

Figure 1 Global Subsea Well Access and Blowout Preventer System Market Segmentation, By Type and Geography
Figure 2 Global Subsea Well Access System, Market Share (Value), By Geography, 2013
Figure 3 Subsea Well Access System, Market Share, By Type, 2013
Figure 4 Subsea Blowout Preventer System Market Share, By Geography, 2013
Figure 5 Global Subsea Wells Counts, By Depth, 2008–2014 (Units)
Figure 6 Production and Intervention in Wells, By Application
Figure 7 Global offshore Wells Share, By Age, 2013
Figure 8 Global offshore Rig Counts, By Geography, 2011-2014
Figure 9 E&P Spending, 2009-2013
Figure 10 Global Capital Spending on Subsea Market, 2012–2018 ($Millions)
Figure 11 Value Chain Analysis
Figure 12 Value Chain Analysis
Figure 13 Global Subsea Well Access System Market, By Region, 2012–2019
Figure 14 Global Subsea Blowout Preventer Systems Market, By Region, 2012–2019
Figure 15 Global Subsea Well Access System Market, By Type, 2013 & 2019 ($Million)
Figure 16 Global Subsea Blowout Preventer System Market, By Type, 2013 & 2019 ($Million)
Figure 17 Global Subsea Well Access System Market Growth, By Type, 2012–2019
Figure 18 Global Subsea Blowout Preventer System Market Growth, By Type, 2012–2019
Figure 19 Global Subsea Well Access System Market Growth, By Geography, 2014–2019 (%CAGR)
Figure 20 Global Subsea Blowout Preventer System Market Growth, By Geography, 2014–2019 (%CAGR)
Figure 21 Global Subsea Well Access Systems Market Lifecycle, By Geography
Figure 22 Global Subsea Blowout Preventer System Market Lifecycle, By Geography
Figure 23 Global Subsea Well Access Systems Market Share, By Geography, 2013 & 2019
Figure 24 Global Subsea Blowout Preventer System Market Share, By Geography, 2013 & 2019
Figure 25 Global Subsea Well Access Systems Market, By Type, 2012–2019
Figure 26 Global Subsea Well Access Systems Market Value, By Geography, 2012–2019
Figure 27 Global Blowout Preventer System Market, Share of Annular and Ram Type BOP, 2013
Figure 28 Global Annular Blowout Preventer System Market Revenue, By Geography, 2012–2019($Million)
Figure 29 Global Annular Blowout Preventer Systems Market Value, By Geography, 2012–2019 ($Million)
Figure 30 Global Blowout Preventer System Market Value, By Geography, 2012–2019 ($Million)
Figure 31 Regional CAGR, By Value, 2014–2019 (%)
Figure 32 Regional CAGR, By Volume, 2014–2019 (%)
Figure 33 Global Subsea Well Access System and Blowout Preventer System Market Share, By Growth Strategies, 2011–2014
Figure 34 Global Subsea Well Access Systems and Blowout Preventer System Market Developments, By Equipment Supply, 2011–2014
Figure 35 Aker Solutions: SWOT Analysis
Figure 36 Cameron International Corporation: SWOT Analysis
Figure 37 FMC Technologies: SWOT Analysis
Figure 38 National Oilwell Varco Inc.: SWOT Analysis
Figure 39 Rongsheng Machinery Manufacture Ltd.: SWOT Analysis
Figure 40 Weatherford International Limited: SWOT Analysis
Figure 41 Global Subsea Well Access Systems and Blowout Preventer System Market Developments, By Contract Agreements, 2011–2013
Figure 42 Global Subsea Well Access Systems and Blowout Preventer System Market Developments, By Business Expansion, 2012–2013
Figure 43 Global Subsea Well Access Systems and Blowout Preventer System Market Developments, By Mergers and Acquisitions, 2011–2014
Figure 44 Global Subsea Well Access Systems and Blowout Preventer System Market Developments, By Other Type, 2011–2014

The subsea well access system market is growing with increased safety regulations, offshore drilling activities, and rising need of production efficiency. Well access takes place while drilling and performing intervention activities in a well. Its market witnessed a high growth and is expected to increase in future, due to increased requirement for new subsea wells and growth in need for intervention in old subsea wells. Onshore wells have a 20-30% more recovery rate because intervention is easily possible. Thus, companies are trying hard to come up with dynamic systems, which can perform intervention efficiently, saving time and cost. The well access system plays a very important role in this scenario. The market is estimated to reach about 4 billion by 2019.

The trend of intervention is expected to change with vessel based also known as Riserless light well intervention is expected to increase exponentially. Costly and time-consuming rig-based intervention techniques will show a declining trend. With the increasing demand of energy, offshore is emerging as a new avenue of investment, thus escalating the number of well interventions, which in turn will lead to higher demand for well access systems.

In a similar way, the blowout preventerm market witnessed high growth in recent years due to increased safety concerns and drilling activities conducted by various National Oil Companies (NOC). Blowout preventer system can be classified into two types- Annular Type and RAM type. The RAM type BOP can be of three types- Pipe RAM, Blind RAM, and Shear RAM.

The report focuses on subsea well access system market by type and geography. The value of the market for well access system is analyzed in detail for all major countries. The study covers different strategies such as contract agreements, equipment supply, mergers & acquisition, geographical expansions, and others. FMC Technologies, Aker Solutions, Weatherford International Limited, GE Energy, Tenaris, and Cross Group are the dominant market leaders that provide this equipment.

As per the study, the blowout preventer system market is expected to reach $ 5.8 billion by 2019 at a CAGR of 7.7%. To find an approximate market as per the geography, it can be assumed that the overall rig count of the world would be equal to the number of BOP stacks in the world. It is assumed that a BOP stack consists of seven BOPs i.e. - 2 Annular and 5 RAM type BOPs.

As per the rig count analysis, Asia-Pacific is the biggest market in terms of drilling activities followed by the North America and the South America. However, as per the value market, the CAGR of Europe is the highest which is 8.6% followed by the Middle East and Africa regions. By the end of 2019, the second market is expected to be dominated by the Middle East region.

Leading manufacturers in the subsea well access system market are Cameron International Corporation (U.S.), National Oilwell Varco Inc. (U.S.), Proserv (U.K.), Rongsheng Machinery Manufacturer Ltd (China) and UZTEL Ltd (Romania).

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