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Subsea Systems Market worth 20.5 Billion USD by 2020
The report "Subsea Systems Market by Subsea Production Technology (SURF, Trees, Manifolds, Control system), by Subsea Processing Technology (Boosting, Separation, Injection, Compression), & by Region - Global Trends & Forecast to 2020", defines and segments the market with regional forecast and segment revenue estimates till 2020. Top market players from the industry have been studied in order to track developments, technologies, and other key business strategies that define the market environment.
Browse 92 market data Tables and 70 Figures spread through 167 Pages and in-depth TOC on "Subsea Systems Market by Subsea Production Technology (SURF, Trees, Manifolds, Control system), by Subsea Processing Technology (Boosting, Separation, Injection, Compression), & by Region - Global Trends & Forecast to 2020"
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The global subsea systems market will grow from an estimated value of USD 15.9 Billion in 2015 to USD 20.5 Billion by 2020 with a CAGR of 5.25% from 2015 to 2020.
This market study includes, in depth analysis for subsea systems of various subsea production technologies, subsea processing technologies. In terms of subsea production technology, the subsea systems market is segmented into SURF (Subsea Umbilicals Risers Flowlines), subsea trees, subsea control systems and subsea manifolds. The subsea processing technology is classified into subsea boosting system, subsea separation system, subsea injection system, and subsea compression system.
In terms of region, the market is classified into North America, South America, Europe, Asia-Pacific, Middle East and Africa. The regions are further segmented on the basis of major countries and in-depth analysis for countries have been provided.
Europe: The largest market for subsea systems
Europe was the largest estimated market for subsea systems in 2014, largely driven by the developments in countries such as Norway, U.K. and Netherlands. These developments are due to policy changes by governments to increase the production. Moreover, the offshore oil reserves in U.K., and Norway provide attractive business opportunities for major oil operators to invest which will further drive the subsea systems market.
SURF: Biggest market by subsea production technology
SURF (Subsea Umbilicals Risers Flowlines) are the important equipment in subsea production systems. Umbilical system is a bundled arrangement of piping, tubing and electrical conductors which are bounded in armored sheath. The main application of umbilicals are to transmit the control fluids, and used to monitor pressures & inject fluids. A drilling riser is a channel that provides temporary extension of a subsea oil well to a surface drilling facility. Subsea flowlines are the pipelines that carry hydrocarbon fluids from the wellhead to the riser. The rising focus on deep water drilling is the major driver for SURF market and moreover the oil discoveries in emerging economies especially Africa provide further positive contributions to the subsea systems market.
Major Players in the subsea systems market include Aker Solutions (Norway), General Electric (U.S.), FMC Technologies (U.S.), National Oilwell Varco Inc. (U.S.), and One Subsea (U.S.). Competitive analysis of the major players has been included in the report, along with market share for the top five players in the subsea systems.
Recent developments and other key strategies adopted by major players have also been analyzed to identify the most followed growth strategy in the industry. Impact analysis of various developments is also provided along with the competitive landscape.
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