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Subsea Well Access System Market by Type (Rig-Based and Vessel-Based), and Region - Global Forecasts to 2022

By: marketsandmarkets.com
Publishing Date: July 2017
Report Code: EP 2383

 

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The subsea well access system market is expected to be valued at USD 2.86 Billion in 2017 and is projected to be worth USD 3.62 Billion by 2022, growing at a CAGR of 4.79%. New offshore discoveries, increasing the demand for well access system in subsea, would drive the subsea well access system market.

The years considered for the study are as follows:

  • Base Year: 2016
  • Estimated Year: 2017
  • Projected Year: 2022
  • Forecast Period: 2017 to 2022

The base year considered for company profiles is 2016. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define, describe, and forecast the global subsea well access system market on the basis of subsea well access system by type, and by region.
  • To provide detailed information on major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To benchmark players within the market using proprietary Vendor DIVE framework, which analyzes market players on various parameters within  broad categories of business and product strategy
  • To analyze competitive developments, such as expansions & investments, mergers & acquisitions, new product launches, contracts & agreements, and joint ventures and collaborations, in the subsea well access system market

Research Methodology

This research study involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the subsea well access system market. Primary sources are mainly industry experts from core and related industries, preferred suppliers, manufacturers, distributors, service providers, technology developers, standard and certification organizations of companies, and organizations related to all the segments of this industry’s value chain. The points given below explain the research methodology.

  • Study of annual revenue and market developments of major players that supply subsea products and services
  • Analysis of demand for subsea well access system by type
  • Finalization of overall market sizes by triangulating the supply-side data, which includes product developments, supply chain, and annual revenues of companies supplying subsea products and services across the globe

After arriving at the overall market size, the total market has been split into several segments and sub-segments. The figure given below illustrates the breakdown of primaries conducted during the research study on the basis of company type, designation, and region.

Subsea Well Access System Market

To know about the assumptions considered for the study, download the pdf brochure

Market Ecosystem:

The value chain starts with the identification of suitable areas to conduct exploration for oil & gas. After initial exploration, petroleum fields are appraised, developed and, produced. These activities are carried out with the help of the subsea well access system market.

Subsea Well Access System Market

Target Audience:

The report’s target audience includes:

  • Subsea well access system manufacturers and suppliers
  • Government and research organizations
  • National and local government organizations
  • Institutional investors
  • Associations

Scope of the Report:

  • Subsea Well Access System Market, by Type
    • Vessel-based well access system
    • Rig-based well access system
  • Subsea Well Access System Market, by Region
    • North America
    • Europe
    • Asia-Pacific
    • South America
    • Middle East
    • Africa

This report also includes the study of Blowout Preventers (BOP) Market.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Regional Analysis

Further breakdown of region and country-specific analysis

Company Information

Detailed analyses and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Introduction
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions
           2.4.1 Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 35)
    4.1 Subsea Well Access System Market, By Type
    4.2 BOP Market, By Type
    4.3 BOP Market, By End-User
    4.4 North America: the Largest Well Access System Market During the Forecast Period, By Region
    4.5 North America: the Largest BOP Market During the Forecast Period, By Region

5 Market Overview (Page No. - 40)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rising Offshore Investments in Growing Economies
                    5.2.1.2 Revitalization of Aging Oil Fields/Wells
                    5.2.1.3 Increase in Oil & Gas Production
           5.2.2 Restraints
                    5.2.2.1 Oil Price Volatility
                    5.2.2.2 Strict Environment Regulations on E&P Activities
           5.2.3 Opportunities
                    5.2.3.1 New Offshore Discoveries
                    5.2.3.2 Demand for Well Access System in Subsea
           5.2.4 Challenges
                    5.2.4.1 High Temperature Intervention Challenges

6 Blowout Preventer (BOP) Market, By Type (Page No. - 48)
    6.1 Introduction
    6.2 Annular BOP
    6.3 Ram BOP

7 Blowout Preventer (BOP) Market, By End-User (Page No. - 52)
    7.1 Introduction
    7.2 Offshore
    7.3 Onshore

8 Subsea Well Access System Market, By Type (Page No. - 56)
    8.1 Introduction
    8.2 Vessel-Based Well Access System
    8.3 Rig-Based Well Access System
           8.3.1 Completion Workover Riser System
           8.3.2 Landing String System
           8.3.3 Others (Through Tubing Rotary Drilling Technology)

9 Subsea Well Access System & BOP Market, By Region (Page No. - 60)
    9.1 North America
           9.1.1 Subsea Well Access System, By Type
           9.1.2 BOP, By Type
           9.1.3 BOP, By End-User
                    9.1.3.1 By Country
                               9.1.3.1.1 U.S.
                               9.1.3.1.2 Canada
                               9.1.3.1.3 Mexico
    9.2 South America
           9.2.1 Subsea Well Access System, By Type
           9.2.2 BOP, By Type
           9.2.3 BOP, By End-User
                    9.2.3.1 By Country
                               9.2.3.1.1 Brazil
                               9.2.3.1.2 Venezuela
                               9.2.3.1.3 Rest of South America
    9.3 Asia-Pacific
           9.3.1 Subsea Well Access System, By Type
           9.3.2 BOP, By Type
           9.3.3 BOP, By End-User
                    9.3.3.1 By Country
                               9.3.3.1.1 China
                               9.3.3.1.2 India
                               9.3.3.1.3 Malaysia
                               9.3.3.1.4 Indonesia
                               9.3.3.1.5 Australia
                               9.3.3.1.6 Rest of Asia-Pacific
    9.4 Europe
           9.4.1 Subsea Well Access System By Type
           9.4.2 BOP, By Type
           9.4.3 BOP, By End-User
                    9.4.3.1 By Country
                               9.4.3.1.1 Norway
                               9.4.3.1.2 Denmark
                               9.4.3.1.3 U.K.
                               9.4.3.1.4 Russia
                               9.4.3.1.5 Rest of Europe
    9.5 Middle East
           9.5.1 Subsea Well Access System, By Type
           9.5.2 BOP, By Type
           9.5.3 BOP, By End-User
                    9.5.3.1 By Country
                               9.5.3.1.1 Saudi Arabia
                               9.5.3.1.2 U.A.E.
                               9.5.3.1.3 Iran
                               9.5.3.1.4 Qatar
                               9.5.3.1.5 Rest of Middle East
    9.6 Africa
           9.6.1 Subsea Well Access System, By Type
           9.6.2 BOP, By Type
           9.6.3 BOP, By End-User
                    9.6.3.1 By Country
                               9.6.3.1.1 Nigeria
                               9.6.3.1.2 Angola
                               9.6.3.1.3 Algeria
                               9.6.3.1.4 Rest of Africa

10 Competitive Landscape (Page No. - 115)
     10.1 Overview
     10.2 Key Players of the Subsea Well Access System & BOP Market
             10.2.1 Growth Strategies in the Subsea Well Access System & BOP Market
     10.3 Market Share Analysis
             10.3.1 Global Market Scenario
     10.4 Competitive Situations & Trends
     10.5 Competitive Leadership Mapping
             10.5.1 Vanguards Visionary Leaders
             10.5.2 Dynamic Differentiators
             10.5.3 Innovators
             10.5.4 Emerging Companies
     10.6 Analysis of the Product Portfolio of Major Players in the Subsea Well Access System & BOP Market (25 Companies)
     10.7 Business Strategy Adopted By Major Players in the Subsea Well Access System & BOP Market (25 Companies)

* Top 25 Companies Analyzed for This Study Are- Aker Solutions (Norway), Baker Hughes Incorporated (U.S.), Circle T Service & Rental, Ltd. (Canada), Cor International, LLC (U.A.E.), Diamond Offshore Drilling, Inc. (U.S.), Drilling Services Limited (U.K.), Dril-Quip, Inc. (U.S.), GE Oil & Gas (U.K.), Halliburton (U.S.), Island Offshore (Norway), Key Energy Services (U.S.), Kit Oil and Gas Equipment Industry, LLC (U.A.E.), National Oilwell Varco, Inc. (U.S.), Oceaneering International, Inc. (U.S.), Optime Subsea Services (U.S.), Parker Hannifin Corp (U.K.), Proserv (U.S.), Rongsheng Machinery Manufacture, Ltd. of Huabei Oilfield Hebei (China), Schlumberger Limited (U.S.), Technipfmc, PLC (U.S.), Tenaris (Luxembourg), Uztel S.A (Romania), Vallourec (France), Weatherford International Limited (U.S.), and 4subsea (Norway)

11 Company Profiles (Page No. - 125)
     11.1 Indroduction
     11.2 Aker Solutions ASA
             11.2.1 Business Overview
             11.2.2 Product Offering Scorecard
             11.2.3 Business Strategy Scorecard
             11.2.4 Recent Developments
     11.3 Baker Hughes Incorporated
             11.3.1 Overview
             11.3.2 Product Offering Scorecard
             11.3.3 Business Strategy Scorecard
             11.3.4 Recent Developments
     11.4 Halliburton Company
             11.4.1 Overview
             11.4.2 Product Offering Scorecard
             11.4.3 Business Strategy Scorecard
             11.4.4 Recent Developments
     11.5 Schlumberger Limited
             11.5.1 Overview
             11.5.2 Product Offering Scorecard
             11.5.3 Business Strategy Scorecard
             11.5.4 Recent Developments
     11.6 Riverstone Holdings, LLC
             11.6.1 Overview
             11.6.2 Product Offering Scorecard
             11.6.3 Business Strategy Scorecard
             11.6.4 Recent Developments
     11.7 Parker-Hannifin Corporation
             11.7.1 Overview
             11.7.2 Product Offering Scorecard
             11.7.3 Business Strategy Scorecard
             11.7.4 Recent Developments
     11.8 Weatherford International Limited
             11.8.1 Overview
             11.8.2 Product Offering Scorecard
             11.8.3 Business Strategy Scorecard
             11.8.4 Recent Developments
     11.9 Oceaneering International, Inc.
             11.9.1 Overview
             11.9.2 Product Offering Scorecard
             11.9.3 Business Strategy Scorecard
             11.9.4 Recent Developments
     11.10 Drilling Services Limited
             11.10.1 Overview
             11.10.2 Product Offering Scorecard
             11.10.3 Business Strategy Scorecard
             11.10.4 Recent Developments
     11.11 National Oilwell Varco, Inc.
             11.11.1 Overview
             11.11.2 Company Scorecard
             11.11.3 Product Offering Scorecard
             11.11.4 Business Strategy Scorecard
             11.11.5 Recent Developments
     11.12 Dril-Quip, Inc.
             11.12.1 Overview
             11.12.2 Product Offering Scorecard
             11.12.3 Business Strategy Scorecard
             11.12.4 Recent Developments
     11.13 Technipfmc, PLC
             11.13.1 Overview
             11.13.2 Product Offering Scorecard
             11.13.3 Business Strategy Scorecard
             11.13.4 Recent Developments
     11.14 GE Oil & Gas
             11.14.1 Overview
             11.14.2 Product Offering Scorecard
             11.14.3 Business Strategy Scorecard
             11.14.4 Recent Developments

12 Appendix (Page No. - 163)
     12.1 Insights of Industry Experts
     12.2 Introducing RT: Real-Time Market Intelligence
     12.3 Available Customizations
     12.4 Related Reports


List of Tables (94 Tables)

Table 1 Subsea Well Access System Market Snapshot
Table 2 BOP Market Snapshot
Table 3 Blowout Preventer (BOP) Market Size, By Type, 2015–2022 (USD Million)
Table 4 Annular BOP: Blowout Preventer (BOP) Market Size, By Region, 2015–2022 (USD Million)
Table 5 Ram BOP: Blowout Preventer (BOP) Market Size, By Region, 2015–2022 (USD Million)
Table 6 Blowout Preventer (BOP) Market Size, By End-User, 2015–2022 (USD Million)
Table 7 Offshore: Blowout Preventer (BOP) Market Size, By Region, 2015–2022 (USD Million)
Table 8 Onshore: Blowout Preventer (BOP) Market Size, By Region, 2015–2022 (USD Million)
Table 9 Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 10 Vessel-Based Well Access System: Subsea Well Access System Market Size, By Region, 2015–2022 (USD Million)
Table 11 Rig-Based Well Access System: Subsea Well Access System Market Size, By Region, 2015–2022 (USD Million)
Table 12 North America: Subsea Well Access System Market Size, By Country, 2015–2022 (USD Million)
Table 13 North America: BOP Market Size, By Country, 2015–2022 (USD Million)
Table 14 North America: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 15 North America: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 16 North America: BOP Market Size, By End-User, 2015–2022 (USD Million)
Table 17 U.S.: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 18 U.S.: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 19 Canada: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 20 Canada: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 21 Mexico: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 22 Mexico: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 23 South America: Subsea Well Access System Market Size, By Country, 2015–2022 (USD Million)
Table 24 South America: BOP Market Size, By Country, 2015–2022 (USD Million)
Table 25 South America: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 26 South America: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 27 South America: BOP Market Size, By End-User, 2015–2022 (USD Million)
Table 28 Brazil: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 29 Brazil: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 30 Venezuela: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 31 Venezuela: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 32 Rest of South America.: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 33 Rest of South America: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 34 Asia-Pacific: Subsea Well Access System Market Size, By Country, 2015–2022 (USD Million)
Table 35 Asia-Pacific: BOP Market Size, By Country, 2015–2022 (USD Million)
Table 36 Asia-Pacific: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 37 Asia-Pacific: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 38 Asia-Pacific: BOP Market Size, By End-User, 2015–2022 (USD Million)
Table 39 China: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 40 China: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 41 Inida: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 42 India: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 43 Malaysia: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 44 Malaysia: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 45 Indonesia.: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 46 Indonesia: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 47 Australia: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 48 Australia: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 49 Rest of Asia-Pacific: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 50 Rest of Asia-Pacific: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 51 Europe: Subsea Well Access System Market Size, By Country, 2015–2022 (USD Million)
Table 52 Europe: BOP Market Size, By Country, 2015–2022 (USD Million)
Table 53 Europe: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 54 Europe: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 55 Europe: BOP Market Size, By End-User, 2015–2022 (USD Million)
Table 56 Norway: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 57 Norway: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 58 Denmark: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 59 Denmark: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 60 U.K.: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 61 U.K.: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 62 Russia: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 63 Russia: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 64 Rest of Europe: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 65 Rest of Europe: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 66 Middle East: Subsea Well Access System Market Size, By Country, 2015–2022 (USD Million)
Table 67 Middle East: BOP Market Size, By Country, 2015–2022 (USD Million)
Table 68 Middle East: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 69 Middle East: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 70 Middle East: BOP Market Size, By End-User, 2015–2022 (USD Million)
Table 71 Saudi Arabia: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 72 Saudi Arabia: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 73 U.A.E.: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 74 U.A.E.: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 75 Iran: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 76 Iran: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 77 Qatar: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 78 Qatar: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 79 Rest of Middle East: Subsea Well Access System Market, By Type, 2015–2022 (USD Million)
Table 80 Rest of Middle East: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 81 Africa: Subsea Well Access System Market Size, By Country, 2015–2022 (USD Million)
Table 82 Africa: BOP Market Size, By Country, 2015–2022 (USD Million)
Table 83 Africa: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 84 Africa: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 85 Africa: BOP Market Size, By End-User, 2015–2022 (USD Million)
Table 86 Nigeria: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 87 Nigeria: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 88 Angola: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 89 Angola: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 90 Algeria: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 91 Algeria: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 92 Rest of Africa: Subsea Well Access System Market Size, By Type, 2015–2022 (USD Million)
Table 93 Rest of Africa: BOP Market Size, By Type, 2015–2022 (USD Million)
Table 94 Market Ranking Based on Revenue, 2016


List of Figures (39 Figures)

Figure 1 Market Segmentation: Subsea Well Access System & BOP Market
Figure 2 Countries Covered
Figure 3 Subsea Well Access System & BOP Market: Research Design
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Triangulation Methodology
Figure 8 The Market for Rig-Based Subsea Well Access System to Register the Highest Growth Between 2017 & 2022
Figure 9 Market for Annular BOP, By BOP Type, to Register the Highest Growth Between 2017 & 2022
Figure 10 Market for Onshore, By BOP End-User, to Register the Highest Growth Between 2017 & 2022
Figure 11 Asia-Pacific to Dominate the Subsea Well Access System Market Between 2017 and 2022
Figure 12 Asia-Pacific to Dominate the BOP Market Between 2017 and 2022
Figure 13 Attractive Market Opportunities in the Subsea Well Access System Market
Figure 14 Attractive Market Opportunities in the BOP Market
Figure 15 Susbea Well Access System Market Share (Value), By Type, 2017–2022
Figure 16 Annular BOP Segment is Estimated to Dominate the BOP Market By 2022
Figure 17 Onshore Segment is Estimated to Dominate the BOP Market By 2022
Figure 18 Asia-Pacific is Expected to Grow at the Fastest Pace During the Forecast Period
Figure 19 North America is Expected to Grow at the Fastest Pace During the Forecast Period
Figure 20 Market Dynamics: Subsea Well Access System & BOP Market
Figure 21 World Crude Oil Annual Production, 2015–2018
Figure 22 Oil Price Volatility, 2012–2017
Figure 23 Blowout Preventer (BOP) Market Share (Value), 2022
Figure 24 Companies Adopted Contracts & Agreements and New Product Launches as the Key Strategies to Capture the Market, 2014–2017
Figure 25 Market Evaluation Framework: Contracts & Agreements, Mergers & Acquisitions & Partnerships, and New Product Launches Have Fueled the Growth of the Companies, 2014–2017
Figure 26 Vendor Dive Matrix
Figure 27 Aker Solutions ASA: Company Snapshot
Figure 28 Baker Hughes Incorporated: Company Snapshot
Figure 29 Halliburton Company: Company Snapshot
Figure 30 Schlumberger Limited: Company Snapshot
Figure 31 Riverstone Holding, LLC: Company Snapshot
Figure 32 Parker-Hannifin Corporation: Company Snapshot
Figure 33 Weatherford International Limited: Company Snapshot
Figure 34 Oceaneering International, Inc.: Company Snapshot
Figure 35 Drilling Services Limited: Company Snapshot
Figure 36 National Oilwell Varco, Inc.: Company Snapshot
Figure 37 Dril-Quip, Inc.: Company Snapshot
Figure 38 Technipfmc PLC: Company Snapshot
Figure 39 GE Oil & Gas: Company Snapshot

The subsea well access system market is projected to grow at a CAGR of 4.79% from 2017 to 2022 to reach a market size of USD 3.62 Billion by 2022. With the decline in oil reserves and prices, major oil & gas companies have shifted their attention towards technological advancements in inventing tools and techniques. Companies are currently focused on increasing the recovery and extending the life of mature wells, exceeding natural production levels. Increased water cut with constrained topside facilities, increasing flow assurance challenges, growing operating costs, and integrity challenges, due to aging facilities are major factors that led to mature wells. These factors are also becoming operational and economically unviable with time. This has led to a growing demand for the well access system. Apart from this, wireline-based services also help oil & gas operators to lower measurement devices into the wells, such as those used in well logging. Hence, a global increase in number of maturing wells, has resulted in the increase in demand for well access systems.

The report segments the subsea well access system market based on type into rig-based well access system and vessel-based well access system. Rig-based well access system dominated the equipment segment due to rise in drilling activities in North America, the Middle East, and Africa to meet the energy demand.

In this report, the subsea well access system market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa.

Subsea Well Access System Market

Customized demands by drillers and uncertain regulatory framework is expected to slow down the demand for the subsea well access system market during the forecast period. However, the subsea well access system market has potential in refracturing activities in the U.S. and emerging offshore opportunities. Some of the leading players in the subsea well access system market includes Schlumberger Limited (U.S.), Halliburton (U.S.), GE Oil & Gas (U.K.), Baker Hughes Incorporated (U.S.), and National Oilwell Varco (U.S.) among others. Contracts & agreements, new product launches and mergers & acquisitions were the most adopted strategies by players to ensure their dominance in the market.

This report also includes the study of Blowout Preventers (BOP) Market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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