Global Subsea System Market Research Report - Forecast to 2023
Industry Survey, Growth, Competitive Landscap and Forecasts to 2023
PREPARED BY Market Research Future (Part of Wantstats Research & Media Pvt. Ltd.)
Subsea System Market
2018
Subsea System Market 2018: Industry Survey, Growth, Competitive Landscape and Forecasts to 2023 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
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.
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Drilling Fluids Market 2018 “Taste the market data and market information presented through more than 50 market data tables and figures spread in 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Subsea System Market Research Report- Forecast 2023” 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.
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.
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Subsea System Market 2018 Scope of the report Market Research Analysis Based on type, water based drilling fluid accounted for the largest market share of 55.90% in 2016, with a market value of USD 4,706.6 Million and is projected to grow at the highest CAGR of 7.52% during the forecast period. Water-based fluids (WBF) are the most commonly used drilling fluid systems. This fluid system is less expensive, requires less chemical treatment before disposal, and their ecofriendly properties are anticipated to fuel the demand of water based fluids during the forecast period. Oil based fluid was the secondlargest market in 2016, valued at USD 2,248.0 Million in 2016; it is projected to grow at a CAGR of 6.66%. In oil based fluids, oil is in continuous phase. Oil-based muds are better for greater depths or in directional or horizontal drilling, which place greater stress on the drilling apparatus.
Additional Information •
Regulatory Landscape
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Pricing Analysis
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Macroeconomic Indicators
Company Information •
Profiling of 10 key market players
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In-depth analysis including SWOT analysis, and strategy information of related to report title
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Competitive landscape including emerging trends adopted by major companies
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Subsea System Market - 2018 Key Players 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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