Key players in the Latin 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 16, 2014
The Latin 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 $3,711.2 million in 2013 to $5,414.6 million by 2018, at a CAGR of 7.8% from 2013 to 2018.
Browse through the TOC of the Latin 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 the increasing demand for oil & gas, growing capital expenditure, and continuous rise in deep-water drilling activities. Besides, as the onshore reserves are maturing, 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. Increasing oil & gas production works as a supplement for the subsea production systems market.
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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-deepwater, environmental risks increase as a result of the lack of operational perfection, human errors, and natural calamities.
Latin America is one of the growing players in this market. Rise in the number of drilling rigs and the increasing oil & gas production, mainly at Brazil and Venezuela have been driving this market in this region.
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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.
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.
The report ‘North America Subsea Production System Market forecast, 2013-2018’ analyzes the subsea production technology in terms of value. This technology includes surf, trees, controls, and manifolds.
Surf technology market collectively holds around 41% share of the North American subsea production system market, and is expected to reach around 44% share by the end of 2018. North American offshore fields are pretty mature and are producing hydrocarbons since a long time. Hence, the subsea production systems market is experiencing a slow growth in this region.
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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