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Technological Advancement of Subsea Production and Processing Systems Market
Technological advancement and long-term contracts engagement has been the current trend of the subsea production and processing systems market. The leading companies of the subsea production and processing systems market mainly focus on JVs and contracts to enhance their business reach.
The subsea production and processing systems market is mostly governed by a few major players and the rest of the market share is divided between small companies. Top players in this market include Aker Solutions (Norway), General Electric Co. (U.S.), Cameron (U.S.), FMC Technologies Inc. (U.S.), National Oilwell Varco (U.S.), Oceaneering International Inc. (U.S.), ABB (Switzerland), Aibel AS Stavanger (Norway), Dril-Quip Inc. (U.S.), and Helix Energy Solutions Group Inc. (U.S.) have been the most active companies from January 2011 to July 2013. Most of these market players have been actively participating in the competitive developments for the subsea production and processing systems market.
The capital and operating expenditures required in the subsea equipment industry is quite large in value. Therefore companies are preferring to enter into joint ventures to make their businesses effective. Also, the subsea equipment is in general manufactured to order driving the business growth by acquiring more and more long-term contracts.
Subsea Production & Processing Systems Market by Technology/Components (Subsea Umbilicals, Risers, Flowlines, Trees, Control Modules, Manifolds), Types (Boosting, Injection, Separation, Compression), & Geography - Global Trends & Forecast to 2018
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