Subsea Production Systems Market by Equipment Type and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR43675
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The subsea production systems market has the potential to grow by USD 967.58 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 2.96%.

This subsea production systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by equipment type (SURF, pressure control system, subsea trees, and manifold) and geography (Europe, APAC, North America, MEA, and South America). The subsea production systems market report also offers information on several market vendors, including Aker Solutions ASA, Dril-Quip Inc., General Electric Co., Halliburton Co., Nexans SA, NOV Inc., Prysmian Spa, Schlumberger Ltd., Siemens AG, and TechnipFMC Plc among others.

What will the Subsea Production Systems Market Size be in 2021?

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Subsea Production Systems Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rising deep and ultra-deepwater drilling projects are notably driving the subsea production systems market growth, although factors such as fluctuations in oil and gas prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the subsea production systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

This subsea production systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Subsea Production Systems Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Aker Solutions ASA
  • Dril-Quip Inc.
  • General Electric Co.
  • Halliburton Co.
  • Nexans SA
  • NOV Inc.
  • Prysmian Spa
  • Schlumberger Ltd.
  • Siemens AG
  • TechnipFMC Plc

 

This statistical study of the subsea production systems market encompasses successful business strategies deployed by the key vendors. The subsea production systems market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The subsea production systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Subsea Production Systems Market?

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29% of the market’s growth will originate from Europe during the forecast period. Norway and the UK are the key markets for the subsea production systems market in Europe. Market growth in this region will be faster than the growth of the market in APAC, South America, and North America regions.

The significant resource richness and offshore activities in the region will facilitate the subsea production systems market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Equipment Type Segments in the Subsea Production Systems Market?

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The subsea production systems market share growth by the SURF segment will be significant during the forecast period. Subsea Umbilicals, Risers, and Flowlines (SURF) play a major role during the production of crude oil. As the oil and gas operations are moving into deepwater, the role of SURF is becoming increasingly important. Thus, the market for the SURF segment is likely to maintain steady growth momentum during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the subsea production systems market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Subsea Production Systems Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive subsea production systems market growth during the next five years
  • Precise estimation of the subsea production systems market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the subsea production systems industry across Europe, APAC, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of subsea production systems market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The subsea production systems market growth will increase by $1000.93 million during 2019-2024.
The subsea production systems market is expected to grow at a CAGR of 2.87% during 2019-2024.
Technavio has segmented the subsea production systems market by other1 (SURF, Pressure control system, Subsea trees, and Manifold) and geographic (Europe, APAC, North America, MEA, and South America).
Aker Solutions ASA, Dril-Quip Inc., General Electric Co., Halliburton Co., National Oilwell Varco Inc., Nexans SA, Prysmian Spa, Schlumberger Ltd., Siemens AG, TechnipFMC Plc are a few of the key vendors in the subsea production systems market.
Europe will register the highest growth rate of 28.81% among the other regions. Therefore, the subsea production systems market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the subsea production systems market growth are:
  • Rising deep and ultra-deepwater drilling projects
  • ERD technology
The subsea production systems market vendors should focus on grabbing business opportunities from the surf segment as it accounted for the largest market share in the base year.
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