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Global Subsea Well Access and Blowout Preventer System Market by Product and Geography - Forecast and Analysis 2022-2026

  • Published: Sep 2022
  • Pages: 168
  • SKU: IRTNTR41579
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The subsea well access and blowout preventer system market share is expected to increase by USD 3.69 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.65%.

This subsea well access and blowout preventer system 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 subsea good access and blowout preventer system market segmentation by product (subsea BOP and subsea WAS) and geography (The Middle East and Africa, APAC, Europe, North America, and South America). The subsea well access and blowout preventer system market report also offers information on several market vendors, including 4Subsea, Aker Solutions ASA, Baker Hughes Co., Dril Quip Inc., Eaton Corp. Plc, Halliburton Co., Helix Energy Solutions Group Inc., KOSO Kent Introl Ltd., NOV Inc., Oceaneering International Inc., Optime Subsea, RMZ Oilfield Engineering Pte Ltd., Schlumberger Ltd., Subsea 7 SA, TechnipFMC plc, Total Marine Technology Pty Ltd., Trendsetter Engineering Inc., Weatherford International Plc, and Worldwide Oilfield Machine Inc. among others.

What will the Subsea Well Access And Blowout Preventer System Market Size be During the Forecast Period?

Subsea Well Access and Blowout Preventer System Market Size

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Subsea Well Access And Blowout Preventer System Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and after post COVID-19 era. The rise in deepwater and ultra-deepwater E&P activities is notably driving the subsea well access and blowout preventer system market growth, although factors such as fluctuations in the price of crude oil 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 well access and blowout preventer system industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Subsea Well Access And Blowout Preventer System Market Driver

The rise in deepwater and ultra-deepwater and E&P activities is one of the major drivers impacting the subsea well access and blowout preventer system market growth. Upstream oil and gas companies have been extracting oil and natural gas from onshore locations for decades. Offshore locations have also been popular sources of oil and gas E& P. Oil and gas companies have shifted their focus from shallow water resources drilling to deepwater and ultra-deepwater resources drilling due to large untapped reserves in the latter. The average price of crude oil should be over $60/barrel for deepwater and ultra-deepwater projects to remain profitable. These projects have been shunned after the decline in the price of crude oil in 2014. The production of oil, particularly in ultra-deepwater environments, is more expensive than conventional methods of oil production. The rise in investments in offshore drilling will propel E&P activities in subsea wells, which will stimulate the need for subsea good access systems and blowout preventers. Hence, the rise in E&P activities in deepwater and ultra-deepwater resources will drive the global subsea well access and blowout preventer system market during the forecast period.

Key Subsea Well Access And Blowout Preventer System Market Trend

Advances in blowout preventers are one of the major trends influencing the subsea well access and blowout preventer system market growth. Blowout preventers are designed to be simple and efficient and act as a safety mechanism to prevent spillage and explosions in the oilfield. In September 2019, Eaton Corp. Plc launched the Eaton EC556 BOP hose as a part of its portfolio of oil and gas drilling equipment. The Eaton EC556 BOP hose combines high-performing spiral reinforcement with a flame-resistant rubber cover and Eaton's 1W-ISC fittings (carbon steel and stainless steel) to sustain pressures of up to 350 bar (5,100 psi) and temperatures of -40C-100C (-40F-212F). Therefore, advances in blowout preventers will stimulate their use in subsea wells, which will drive the growth of the global subsea well access systems and blowout preventer system market during the forecast period.

Key Subsea Well Access And Blowout Preventer System Market Challenge

Fluctuations in the price of crude oil are one of the major challenges impeding the subsea well access and blowout preventer system market growth. According to the IEA, there was more than a 40% decline in upstream oil and gas investments between 2014 and 2016. Various oil and gas E&P projects that were planned had to be kept on hold until the oil price stabilized. Several oil and gas projects worldwide were canceled due to price variations. A large number of rigs were shut down, and many employees were laid off due to variations in the price of crude oil. The number of active rigs dropped by 34.68% from 2014 to 2015 and by 31.84% from 2015 to 2016. E and P projects are generally executed when the revenue generated is high so that upstream companies can make profits. The uncertainty in the price of crude oil will hamper investments in E and P projects in both onshore and offshore fields, including subsea wells. Therefore, fluctuations in the price of crude oil will impede the growth of the global subsea well access and blowout preventer system market during the forecast period.

This subsea well access and blowout preventer system 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 2022-2026.

Parent Market Analysis

Technavio categorizes the global subsea well access and blowout preventer system market as a part of the global oilfield equipment and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the subsea well access and blowout preventer system market during the forecast period.

Who are the Major Subsea Well Access And Blowout Preventer System Market Vendors?

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

 

  • 4Subsea
  • Aker Solutions ASA
  • Baker Hughes Co.
  • Dril Quip Inc.
  • Eaton Corp. Plc
  • Halliburton Co.
  • Helix Energy Solutions Group Inc.
  • KOSO Kent Introl Ltd.
  • NOV Inc.
  • Oceaneering International Inc.
  • Optime Subsea
  • RMZ Oilfield Engineering Pte Ltd.
  • Schlumberger Ltd.
  • Subsea 7 SA
  • TechnipFMC plc
  • Total Marine Technology Pty Ltd.
  • Trendsetter Engineering Inc.
  • Weatherford International Plc
  • Worldwide Oilfield Machine Inc.

 

This statistical study of the subsea well access and blowout preventer system market encompasses successful business strategies deployed by the key vendors. The subsea well access and blowout preventer system market is fragmented and the vendors are deploying organic and inorganic strategies and growth strategies 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 well access and blowout preventer system 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.

Subsea Well Access And Blowout Preventer System Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the subsea well access and blowout preventer system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Subsea Well Access And Blowout Preventer System Market?

Subsea Well Access and Blowout Preventer System Market Share by Geography

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30% of the market’s growth will originate from the Middle East and Africa during the forecast period. Angola and Saudi Arabia,  are the key markets for subsea good access and blowout preventer system markets in the Middle East and Africa. Market growth in this region will be faster than the growth of the market in other regions.

The growth of the oil and gas industry in MEA will facilitate the subsea well access and blowout preventer system market growth in the Middle East and Africa 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.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 negatively affected the growth of the subsea well access and blowout preventer system market in MEA in 2020. Iran, Saudi Arabia, Qatar, Egypt, Bahrain, Iraq, the UAE, Kuwait, South Africa, and Algeria were some key countries that were severely affected by the pandemic in MEA in 2020. Many subsea oil and gas projects were suspended, and transportation activities were halted temporarily due to COVID-19 in 2020. 

What are the Revenue-generating Product Segments in the Subsea Well Access And Blowout Preventer System Market?

Subsea Well Access and Blowout Preventer System Market Share

To gain further insights on the market contribution of various segments Request a PDF Sample

The subsea well access and blowout preventer system market share growth by the subsea BOP segment will be significant during the forecast period. The rising environmental concerns and increasing subsea E&P activities will drive the growth of the global subsea well access and blowout preventer system market by subsea blowout preventers during the forecast period.

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

 

Subsea Well Access And Blowout Preventer System Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.65%

Market growth 2022-2026

$ 3.69 billion

Market structure

Fragmented

YoY growth (%)

5.87

Regional analysis

Middle East and Africa, APAC, Europe, North America, and South America

Performing market contribution

Middle East and Africa at 30%

Key consumer countries

US, Angola, Saudi Arabia, Norway, UK, and Brazil

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

4Subsea, Aker Solutions ASA, Baker Hughes Co., Dril Quip Inc., Eaton Corp. Plc, Halliburton Co., Helix Energy Solutions Group Inc., KOSO Kent Introl Ltd., NOV Inc., Oceaneering International Inc., Optime Subsea, RMZ Oilfield Engineering Pte Ltd., Schlumberger Ltd., Subsea 7 SA, TechnipFMC plc, Total Marine Technology Pty Ltd., Trendsetter Engineering Inc., Weatherford International Plc, and Worldwide Oilfield Machine Inc. 

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Subsea Well Access And Blowout Preventer System Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive subsea good access and blowout preventer system market growth during the next five years
  • Precise estimation of the subsea well access and blowout preventer system market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the subsea well access and blowout preventer system industry across the Middle East and Africa, APAC, Europe, North America, 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 well access and blowout preventer system market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 24: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
    • 5.2 Comparison by Product
      • Exhibit 26: Chart on Comparison by Product
      • Exhibit 27: Data Table on Comparison by Product
    • 5.3 Subsea BOP - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Subsea BOP - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 29: Data Table on Subsea BOP - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 30: Chart on Subsea BOP - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Subsea BOP - Year-over-year growth 2021-2026 (%)
    • 5.4 Subsea WAS - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Subsea WAS - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 33: Data Table on Subsea WAS - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 34: Chart on Subsea WAS - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Subsea WAS - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Product
      • Exhibit 36: Market opportunity by Product ($ billion)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 42: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 43: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 44: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.4 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 North America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 Brazil - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Brazil - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 63: Data Table on Brazil - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 64: Chart on Brazil - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Brazil - Year-over-year growth 2021-2026 (%)
    • 7.9 Angola - Market size and forecast 2021-2026
      • Exhibit 66: Chart on Angola - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 67: Data Table on Angola - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 68: Chart on Angola - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on Angola - Year-over-year growth 2021-2026 (%)
    • 7.10 Norway - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Norway - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 71: Data Table on Norway - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 72: Chart on Norway - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Norway - Year-over-year growth 2021-2026 (%)
    • 7.11 US - Market size and forecast 2021-2026
      • Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Saudi Arabia - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Saudi Arabia - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 83: Data Table on Saudi Arabia - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 84: Chart on Saudi Arabia - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Saudi Arabia - Year-over-year growth 2021-2026 (%)
    • 7.14 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 Aker Solutions ASA
              • Exhibit 93: Aker Solutions ASA - Overview
              • Exhibit 94: Aker Solutions ASA - Business segments
              • Exhibit 95: Aker Solutions ASA - Key offerings
              • Exhibit 96: Aker Solutions ASA - Segment focus
            • 10.4 Baker Hughes Co.
              • Exhibit 97: Baker Hughes Co. - Overview
              • Exhibit 98: Baker Hughes Co. - Business segments
              • Exhibit 99: Baker Hughes Co. - Key news
              • Exhibit 100: Baker Hughes Co. - Key offerings
              • Exhibit 101: Baker Hughes Co. - Segment focus
            • 10.5 Dril Quip Inc.
              • Exhibit 102: Dril Quip Inc. - Overview
              • Exhibit 103: Dril Quip Inc. - Business segments
              • Exhibit 104: Dril Quip Inc. - Key offerings
              • Exhibit 105: Dril Quip Inc. - Segment focus
            • 10.6 Eaton Corp. Plc
              • Exhibit 106: Eaton Corp. Plc - Overview
              • Exhibit 107: Eaton Corp. Plc - Business segments
              • Exhibit 108: Eaton Corp. Plc - Key news
              • Exhibit 109: Eaton Corp. Plc - Key offerings
              • Exhibit 110: Eaton Corp. Plc - Segment focus
            • 10.7 Halliburton Co.
              • Exhibit 111: Halliburton Co. - Overview
              • Exhibit 112: Halliburton Co. - Business segments
              • Exhibit 113: Halliburton Co. - Key news
              • Exhibit 114: Halliburton Co. - Key offerings
              • Exhibit 115: Halliburton Co. - Segment focus
            • 10.8 NOV Inc.
              • Exhibit 116: NOV Inc. - Overview
              • Exhibit 117: NOV Inc. - Business segments
              • Exhibit 118: NOV Inc. - Key news
              • Exhibit 119: NOV Inc. - Key offerings
              • Exhibit 120: NOV Inc. - Segment focus
            • 10.9 Oceaneering International Inc.
              • Exhibit 121: Oceaneering International Inc. - Overview
              • Exhibit 122: Oceaneering International Inc. - Business segments
              • Exhibit 123: Oceaneering International Inc. - Key offerings
              • Exhibit 124: Oceaneering International Inc. - Segment focus
            • 10.10 Schlumberger Ltd.
              • Exhibit 125: Schlumberger Ltd. - Overview
              • Exhibit 126: Schlumberger Ltd. - Business segments
              • Exhibit 127: Schlumberger Ltd. - Key offerings
              • Exhibit 128: Schlumberger Ltd. - Segment focus
            • 10.11 TechnipFMC plc
              • Exhibit 129: TechnipFMC plc - Overview
              • Exhibit 130: TechnipFMC plc - Business segments
              • Exhibit 131: TechnipFMC plc - Key offerings
              • Exhibit 132: TechnipFMC plc - Segment focus
            • 10.12 Weatherford International Plc
              • Exhibit 133: Weatherford International Plc - Overview
              • Exhibit 134: Weatherford International Plc - Business segments
              • Exhibit 135: Weatherford International Plc - Key news
              • Exhibit 136: Weatherford International Plc - Key offerings
              • Exhibit 137: Weatherford International Plc - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 138: Inclusions checklist
                • Exhibit 139: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 140: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 141: Research methodology
                • Exhibit 142: Validation techniques employed for market sizing
                • Exhibit 143: Information sources
              • 11.5 List of abbreviations
                • Exhibit 144: List of abbreviations

              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
              Technavio

              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
              Technavio

              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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              Subsea Well Access and Blowout Preventer System market growth will increase by $2.85 billion during 2019-2024.
              The subsea well access and blowout preventer system market is expected to grow at a CAGR of 5.77% during 2019-2024.
              Technavio has segmented the subsea well access and blowout preventer system market by product (Subsea BOP and Subsea WAS) and geographic (MEA, APAC, Europe, North America, and South America).
              Aker Solutions ASA, Baker Hughes a GE Co., Dril-Quip Inc., Eaton Corp. Plc, Halliburton Co., National Oilwell Varco Inc., Oceaneering International Inc., Schlumberger Ltd., TechnipFMC Plc, Weatherford International Plc are a few of the key vendors in the subsea well access and blowout preventer system market.
              MEA will register the highest growth rate of 29.82% among the other regions. Therefore, the subsea well access and blowout preventer system market in MEA is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the subsea well access and blowout preventer system market growth are:
              • Rise in deepwater and ultra-deepwater E&P activities
              The subsea well access and blowout preventer system market vendors should focus on grabbing business opportunities from the subsea bop segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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