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Subsea Well Access System Market - Market Leader and Competitive Landscape
The global Subsea Well Access System Market is likely to witness a CAGR of over XX% from 2014 to 2019. Europe and Africa represent the largest market, followed by South America. Emerging markets include Asia Pacific and North America with increasing production efficiency. Similarly, the subsea Blowout Preventer (BOP) market is likely to witness a CAGR of over XX% from 2014 to 2019. Asia Pacific and the Middle East represent the largest market, followed by South America. Emerging markets include Europe, North America, and Africa with increasing safety concerns and production efficiency.
A few global players dominate the subsea well access market. Some of the key players include FMC Technologies (U.S.), Aker Solutions (Norway), Helix Energy Solution Group (U.S.), Island Offshore (Norway) and Tenaris (Luxembourg). The top three players, that include the above, accounted for more than XX% of the market in 2012 by revenue, while the top five players accounted for XX%. Similarly the subsea BOP market is also dominated by some global players such as Cameron International Corporation (U.S.), National Oil Well Verco Inc., Proserve (U.K.), Uztel Ltd. (Romania) and Rongsheng Machinery Manufacture Ltd. (China). The top three players that include the above accounted for more than XX% of the market in 2012 by revenue, while the top five players accounted for XX%.
FMC Technology is a market leader and has a strong presence globally, in field manufacturing and supplying well access systems. It manufactures markets, designs and services subsea production and processing systems, high-pressure fluid control equipment, surface wellhead systems, marine loading systems, and measurement solutions for the oil and gas industry. The company is specializes in subsea industry and has developed various innovative solutions for the industry. In 2012, FMC was named as the world’s most admired oil and gas equipment and service company. The company generated $6151.4 Million revenue in 2012 with 20.6% growth rate from 2011.
The innovative technological ability and strong product line-up keeps Aker Solutions ahead in the market. Its’ well versed products and services such as intervention tooling, landing string system, work over control systems, coupled with a strong brand name, provide a competitive edge over other competitors. The company is concentrating more on its core offshore business due to high margins’ the company’s major operations are based upon deepwater and subsea oil services markets. The company is enhancing its assets by diluting its non-profit making businesses. The company acquired the U.K. engineering firm I.D.E.A.S. to enhance its asset integrity management service. The company continues to enhance its technology and business revenue by signing contracts. In 2012 and 2013, the company signed 15 contracts worth a total of $1.6 billion with each contact ranging between $50 million to $100 million.
Cameron International Corporation is a major player and has strong brand positioning in the field of manufacturing and supply BOP. With the help of its strong distribution network, the company has positioned itself ahead of all competitors. The company trades its equipment under various names like Cameron, Cooper-Bessemer, Willis, Ajax, W-K-M, NATCO and LeTourneau. The company has a large product portfolio, which includes drilling equipment/systems, flow control equipment, surface systems and process systems. It has undergone an agreement with Schlumberger to create One Subsea (previously named Framo Inc.), a joint venture, which manufactures, develops and provides a variety of subsea oil and gas products, systems, and other services. The company is targeting a high growth with increasing subsea oil field activities and is signing contracts with some of the major players for equipment supply.
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
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