Dublin, June 21, 2023 (GLOBE NEWSWIRE) -- The "Subsea Systems: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Subsea Systems estimated at US$12.5 Billion in the year 2022, is projected to reach a revised size of US$16.5 Billion by 2030, growing at a CAGR of 3.6% over the analysis period 2022-2030.
SURF, one of the segments analyzed in the report, is projected to record a 3.9% CAGR and reach US$5.4 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Subsea Trees segment is readjusted to a revised 2.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.8 Billion, While China is Forecast to Grow at 3.9% CAGR
The Subsea Systems market in the U.S. is estimated at US$1.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 3.9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 3.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR.
Select Competitors (Total 36 Featured) -
- Aker Solutions ASA
- Baker Hughes, Inc.
- Dril-Quip, Inc.
- Kongsberg Gruppen ASA
- McDermott International, Inc.
- National Oilwell Varco
- Oceaneering International, Inc.
- OneSubsea
- Parker Hannifin Corporation
- Proserv Group Inc.
- Saipem S.p.A.
- Siemens AG
- Subsea 7 S.A.
- TechnipFMC plc
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 412 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $12.5 Billion |
| Forecasted Market Value (USD) by 2030 | $16.5 Billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19: A Looming Global Recession and Depressive Oil Industry Outlook for 2020
- Massive Decline in Crude Oil Demand Pushes Oil Industry CAPEX and E&P Spending to Downward Trajectory
- Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2020
- World E&P Spending (in US$ Billion) for the Years 2016 through 2021
- Breakdown of Global E&P Spending (in %) by Supply Segment for the Year 2019 & 2020
- Breakdown of North American E&P Capital Spending (in %) by Type of Company for 2020
- Breakdown of CAPEX Reductions (in US$ Billion) by Type of Oil Company in 1Q 2020
- An Introduction to Subsea Systems
- Subsea Systems: Current Market Scenario and Outlook
- Recent Market Activity
- Subsea Umbilicals, Risers, and Flowlines (SURF): Largest Product Segment
- Subsea Trees Continue to Widen Addressable Market
- Subsea Boosting Systems Exhibit Fastest Growth
- Sustained Demand for Subsea Separation Systems
- Control Systems Make a Cut
- Manifolds Remain Highly Relevant
- Market for Injection Systems & Compression Systems Will Continue to Grow
- COVID-19 Pandemic Set to Dent Economic Growth Across All Regions, While Inducing Weakness Into Oil & Gas Sector
- World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
- Global Purchasing Managers' Index (PMI) Points for the Years 2018 through 2020
- Competitive Scenario: A Consolidated Marketplace
- Subsea Systems - Global Key Competitors Percentage Market Share in 2022 (E)
- Subsea Trees (Production System Type) Global Competitor Market Share Positioning for 2019
- Subsea Boosting Systems (Processing System Type) Global Competitor Market Share Positioning for 2019
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Favorable Long-Term Forecasts for Oil & Gas Sector Instil Market Optimism
- Top Countries with Proven Reserves of Crude Oil in Billion Barrels for the Years 2014-2019
- Fossil Fuel Consumption to Remain Unperturbed Despite Rise of Renewables
- Breakdown World Energy Demand (in %) by Fuel Type for the Years 2019 and 2040
- Emphasis on Migration from Onshore to Offshore Operations to Augment Long-Term Growth Prospects
- Offshore Oil and Gas Exploration & Production Expenditure Worldwide by Segment (2015-2019): Percentage Breakdown of Expenditure for Drilling, Engineering, Procurement, Construction, Installation (EPCI), Life of Field, Offshore Supply Vehicle, and Subsea
- Growing Importance of Deep & Ultra Deep Water Hydrocarbon Exploration Instigates Robust Growth
- New Offshore Projects Worldwide Prioritize Deep & Ultra Deep Water Exploration
- Breakdown of Global Oil Production Volume by Onshore, Offshore, and Offshore Deepwater Activity for the Years 2011, 2015 and 2019
- Subsea Capital Expenditure Worldwide by Depth of Installation (2019 & 2022): Percentage Breakdown of CAPEX for Installations at Depth of Below 99 Meters, 100-499, 500-999, 1000-1499, and 1500 Meters and Above
- Rise of Sophisticated EOR Technologies Augments Subsea Systems Market
- Brief Description of EOR Methods
- A Glance at Select Chemical EOR Projects Worldwide
- Technology Advancements Widen Scope & Span of Subsea Systems
- A Brief Review of Technology Innovations in the Subsea Systems Domain
- Digitalization and IoT Step-In to Revolutionize Subsea Landscape
- Subsea Systems Market: Strongly Influenced by Trends in Oil Prices
- Crude Prices Tumble as Covid-19 Pandemic Weakens Demand
- Average Annual OPEC Crude Oil Prices (in US$ per Barrel) for Years 2010 through 2021
- OPEC Steps In with Production Cut Strategy to Curb Declining Trend in Crude Prices
- A Glimpse of OPEC's April 2020 Production Cut Deal
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/4asmk
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