Market Research Future Published a half-cooked research report on Global Subsea System Market that contains the information from 2017 to 2023. Global subsea system market is expected to grow with the CAGR of approximately 2% from 2017 to 2023

Market Highlights

With the increase in the energy consumption across the globe, the focus on offshore drilling is on the rise, which will drive the growth of the market. According to OPEC, world oil demand averaged 93.0 mb/d in 2015, with the highest rises taking place in the Asia Pacific region, particularly India and China, North America, Western Europe, the Middle East and Africa. However, high cost of offshore drilling may hamper the growth of the market.

 The key players of global subsea system market are

  • Subsea 7 SA (U.K.),
  • FMC Technologies (U.S.),
  • GE Oil & Gas (U.S.),
  • Aker Solutions (Norway),
  • One Subsea (U.S.),
  • Technip (France),
  • Dril-Quip, Inc. (U.S.),
  • Oceaneering International, Inc. (U.S.),
  • Proserv Group Inc. (U.K.)
  • Kongsberg Oil & Gas Technologies (Norway).

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 Market Research Analysis

Global Subsea System market has been segmented based on type, components, technology and region. Based on type, the market has been segmented into subsea production, and subsea processing. Subsea production dominates the type segment of the market. On the basis of technology, boosting, separation, injection and compression system. With the need to enhance production and recovery from aging subsea fields, boosting technology is predicted to attain a large demand in the global subsea system market. On the basis of component, market has been segmented into Umbilicals, Manifolds, Trees, Flowlines and Others. Subsea trees are operate with the wellhead to control the flow of production or injection fluids and also connect tubing and other devices in the well to the seafloor and facilities above water. Umbilicals link surface and seafloor oil and gas equipment for controls, power or heat. They provide electric and fiber-optic signals, electrical power and hydraulic and chemical injection fluids to the subsea unit.

 European region dominates the global Subsea System market

On the basis of region, subsea System market is dominated by Europe. Increasing deepwater drilling activities along with increasing spending for safety and security in Norway and the UK are expected to drive the growth of the market in the region. Europe was followed by Middle East & Africa (MEA) region. It is expected to be the fastest growing region for the market during the forecast period. In this region, Saudi Arabia and UAE, are the biggest oil and gas exporters and are planning on further expanding their oil and gas production infrastructure. Additionally, the rising investments in major oil producing African nations, namely, Angola, Ghana, Nigeria, and Equatorial Guinea, driven by large new offshore discoveries.

 Latin America and Asia-Pacific region is also expected to contribute significantly during the forecast period. In Latin America, substantial oil and gas discoveries have taken place in the offshore regions of Rio de Janeiro, Perla Field in Gulf of Venezuela and in the Gulf of Mexico regions. Increasing energy demand from the countries such a countries such as China and India of Asia Pacific, is expected to fuel market growth over the forecast period.

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Scope of the Report

This study provides an overview of the global subsea system market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, South America,  Europe, Asia Pacific (APAC) and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global subsea system market by its on type, components, technology and region.

  • By Type
  • Subsea Production System
  • Subsea Processing System
  • Component
  • Umbilicals
  • Manifolds
  • Trees
  • Flowlines
  • Others
  • By Technology
  • Boosting
  • Separation
  • Injection
  • Compression System
  • By Region
  • North America
  • South America
  • Asia-Pacific
  • Europe
  • Middle East & Africa

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