Key players in the North America Subsea Production System Market are Aker Solutions (Norway), GE (U.S.), Anadarko (U.S.), Cameron International Corporation (U.S.), FMC Technologies (U.S.) & others.
(PRWEB) September 10, 2014
The North American Subsea Production Systems Market report defines and segments the concerned market with analysis and forecast of revenue. The market is estimated to grow from $3,099.2 million in 2013 to $4,015.3 million by 2018, at a CAGR of 5.3% from 2013 to 2018.
Browse through the TOC of the North American Subsea Production Systems Market report, to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation in the market, and is supported by various tables and figures.
The subsea production systems market is growing due to increasing demand for oil & gas, growing capital expenditure, and continuous rise in deep water drilling activities. Additionally, as the onshore reserves are achieving maturity, deep-water explorations for offshore reserves are increasing. The growing demand for energy can be catered only by increasing the production of hydrocarbons, which is carried out by drilling new wells or by enhanced oil recovery to boost the production.
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Increasing oil & gas production works as a supplement for the subsea production systems market. Technological developments and high energy demand are resulting in increased deep drilling activities, which are boosting the requirements for subsea production systems. However, as we go deeper in the offshore wells and subsea, especially in the deep and ultra-deep water, environmental risks increase as a result of the lack of operational perfection, human errors, and also due to natural calamities.
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North America is one of the growing players in this market. The rise in the subsea industry and the oil & gas production has been driving the subsea production system market in this region.
This market is segmented and forecast based on technology. In terms of technology, the market is segmented into subsea umbilical risers & flowline (SURF), subsea tree, subsea control, and subsea manifolds.
This report includes market share and value chain analyses, along with the market metrics such as drivers & restraints. In addition, it presents a competitive landscape and company profiles of the key players in the market.
Latin America Subsea Production System Market
The Latin America subsea production system market was valued at $3,711.2 million by 2013, and is forecasted to reach $5,414.6 million by 2018. It is expected to grow at a CAGR of 7.8% from 2013 to 2018. Surf technology in subsea production system accounted for $1,483.3 million in 2013, due to growing trend with the discovery of new reserves signifying high exports in this region.The report ‘South America Subsea Production System Market forecast, 2013-2018’ analyzes by technology in terms of value. The subsea production technology includes surf, trees, controls, and manifolds.
Europe Subsea Production System Market
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.
Asia-Pacific Subsea Production System Market
The Asia-Pacific subsea production system market was valued at $1,547.7 million in 2013, and is forecasted to reach $1,958.2 million by 2018. It is expected to grow at a moderate CAGR of 4.8% from 2013 to 2018. Surf technology, the largest technology in this region, was accounted for $620.3 million in 2013. Due to the pressure of enhancing crude oil production in the Asia-Pacific region, exploration and production companies are driven towards new fields of exploration in offshore areas.
The report ‘Asia-Pacific 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 Asia-Pacific subsea production system market, and is expected to reach around 43% share by the end of 2018.
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