The European subsea production system market was $4,720.9 million by 2013, and is forecasted to reach $5,607.2 million by 2018. It is expected to grow at a CAGR of 3.5% from 2013 to 2018. Surf technology in subsea production system accounted for $1,941.6 million in 2013, due to growing offshore drilling activities.
The report ‘Europe Subsea Production System Market forecast, 2013-2018’ analyzes the subsea production system by technology. The subsea production technology includes surf, trees, controls, and manifolds.
Surf technology market collectively holds around 40% share of the European subsea production system market, and is expected to reach around 42% share by the end of 2018.
In the subsea production systems market, Europe holds the largest share in terms of revenue. The majority of drilling and exploration activities in Europe are carried out in Russia and North Sea adjoining Norway and U.K. The environmental degradation has been a major concern, and has resulted in stringent environmental regulations and policies.
Top service providers in this region are Aker Solution (Norway), GE (U.S.), Anadarko (U.S.), Cameron International Corporation (U.S.), and FMC Technologies (U.S.) Surf technology is the major segment of subsea production system in Europe. It is expected to grow at a CAGR of 5.0% from 2013 to 2018.
The report also provides an extensive competitive landscaping of companies operating in the subsea production. Some of the key players operating in the market are Aker Solutions, GE, Anadarko, Cameron International corporation, NOV, Oceaneering, and FMC Technologies. Regional market shares, new product or service launches, M&A, and the product portfolio of key market players have been detailed in the report.
Along with the market data, you can also customize MMM assessments that meet your company’s specific needs. Customize to get comprehensive industry standard and deep dive analysis of the following parameters:
Product benchmarking outlook
- Comparison of service portfolio of each company mapped at technology level
- Project status (operational/installed, or planned)
- Activity in every major deepwater basin
- Country wise investment opportunities analysis
Customer Segment Outlook
- Producing well count (country level data)
- Number of wells ( country level data)
- Total reserves (country level)
- Subsea tree installations by region
- Subsea tree installations by operator
- Subsea tree installations by water depth
- Subsea equipment capex by region
- List of subsea tree manufacturer
Current Industry Challenges
- Challenges faced in subsea production industry
- Incidents and accidents in the subsea industry (Information about accident date, geographical area, type of unit, and main event is given for each accident)
- Developing technology to compress natural gas on the seabed
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The presence of rich oil fields in Africa and new discoveries of oil & gas reserves along with the ever increasing energy demand are driving the Middle East & African subsea equipment market. This market is expected to grow approximately at a CAGR of 9% from 2014 to 2019.
North America Subsea Equipments
The rising deep water exploration activities along with technological advancement are driving the North American subsea equipment market. This market is expected to grow approximately at a CAGR of 7% from 2014 to 2019.
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The rising offshore exploration activities along with increasing capital spending are driving the Latin American subsea equipment market. This market is expected to grow approximately at a CAGR of 8% from 2014 to 2019.
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Asia-Pacific Subsea Equipments
The new offshore field discoveries along with the technological advancement are driving the Asia-Pacific subsea equipment market. This market is expected to grow approximately at a CAGR of 6% from 2014 to 2019.