Key players in the Asia-Pacific Subsea Production System Market are Aker Solution, GE, Anadarko, Cameron, NOV, Oceaneering, FMC Technologies & others.
(PRWEB) September 13, 2014
The Asia-Pacific subsea production systems market report defines and segments the concerned market with analysis and forecast of revenue. The market is estimated to grow from around $1,547.7 million in 2013 to $1,958.2 million by 2018, at a CAGR of 4.8% from 2013 to 2018.
Browse through the TOC of the Asia-Pacific subsea production system 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 towards 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.
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Increasing oil & gas production works as a supplement for the market. Technological developments and high energy demand are resulting in increasing 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, risks associated with environment increases due to lack of operational perfection, human errors, and natural calamities.
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The growth in the number of drilling rigs in Asia-Pacific has resulted in increasing the number of subsea wells, which will drive the subsea production systems market.
Asia-Pacific is one of the emerging players in this market. The growing subsea market and the increasing oil & gas production in India, China, and Australia are some of the driving factors for the market.
This market is segmented and forecasted on the basis of technology. The market is segmented into subsea umbilical risers & flowline (SURF), subsea tree, subsea control, and subsea manifolds in terms of technology.
This report includes the market share and value chain analyses, along with the market metrics such as drivers and restraints. In addition, it presents a competitive landscape and company profiles of the key players in the market.
North America Subsea Production System Market
With new fields being discovered in the offshore regions, the declining recovery rate, and production from ageing fields, solutions in the form of new technology are highly imperative. This report discusses the driving and restraining factors that are expected to impact the future growth of the North American subsea production system market.
The North American subsea production system market was valued at $3,099.2 million in 2013, and is forecasted to reach $4,015.3 million by 2018. It is projected to grow at a CAGR of 5.3% from 2013 to 2018. Surf technology in subsea production system accounted for $1,277.2 million in 2013, due to increase in deep and ultra-deep water activity.
Latin America Subsea Production System Market
Surf technology market collectively holds around 40% share of the Latin America subsea production system market, and is expected to reach around 42% by the end of 2018. South America represents a huge potential market for subsea production systems in the near future.
Increasing oil and gas production works as a supplement for the subsea production and processing systems market. The growing demand of energy can be catered only by increasing the production of hydrocarbons, which is carried out by enhanced oil recovery to boost the production or by drilling new wells.
Europe Subsea Production System Market
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.
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