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Global Subsea Well Access and BOP System Market

  • Published Date: 24 May 2018
  • Number of Pages: 186
  • Category: Industrial
  • Country: Global
The Global subsea well access and bop system market was valued at US$ 2.86 Billion in 2017 and is expected to reach US$ 3.62 Billion by 2022 growing at a CAGR of4.79% during the forecast period 2017-2022.Efficient oil and gas production in subsea wells is necessary in order to optimize cost and expenditure. Well access system plays a very important role in this regard. Subsequently, the rising need for production efficiency in order to maximize oil and gas production is resulting in mounting well intervention demand. Companies are currently focused on increasing the recovery and extending the life of mature wells, thereby exceeding natural production levels.

Market Dynamics

The demand for efficient oil and gas exploration & production and increased subsea drilling activities, drive the need for mechanisms like subsea well access and BOP systems. Along with that aging subsea field, dwindling oil and gas reserves coupled with increasing investments in oil and gas industry make the subsea well access and bop equipment critical to subsea wells.

However, the rising safety concerns and environmental issues are pulling the market back from growing. Subsea fields have proved to have fewer recovery rates than other conventional fields.As a result, working in a subsea system to increase the recovery is a key challenge. Other challenges posed by subsea production like environmental issues, attempt to reduce wellhead pressure to allow efficient recovery of hydrocarbon resources, the reliability and costs associated with intervention operations of the subsea units are restraining the market from growth.

Market Segmentation

The subsea well access and BOP system market is segmented by type, and geography. The well access market by type is sub-segmented into riser based well access system and riser less well access system The riser based well access system can further be classified as completion work over riser system, landing string system, and through tube rotary drilling system. The subsea BOP market by type includes Annular BOP market and RAM type BOP market The market by geography includes Asia-Pacific, Europe, Africa, the Middle East, North America, and South America.

Regional/Geographic Analysis

Europe is supposed to lead the subsea pumps market in the forecasted period, because of the regions new exploration activity which is at its all-time high and the work is conducted in much deeper waters which require sophisticated technology and equipment. South America holds the second position in the market but Africa will replace it by 2019. Asia-Pacific is currently dominating the BOP market, followed by the Middle East. North America. Africa, Europe, and South America are the emerging markets for BOP. In Asia-Pacific, China is the largest market in terms of exploration. The golden triangle of Brazil, the U.S., West Africa and the Gulf of Mexico, which have large-scale offshore drilling activities are some of the major markets for BOP.

Opportunities

Some of the most promising opportunities in this industry are the alternative solutions to costly rig based systems, improvised production efficiency in offshore wells, and the requirement of intervention in brown field projects. Also, the boom in the well intervention market provides a great opportunity for well access systems manufacturers.

Key Players

Some of the major players in the oil country tubular goods market include FMC Technologies (U.S.) and Cameron International Corporation (U.S.), Aker Solutions ASA, Baker Hughes Incorporated, Dril-Quip, Inc., Drilling Services Limited, GE Oil & Gas, Halliburton Company, National Oilwell Varco, Inc., Oceaneering International, Inc., Parker-Hannifin Corporation, Riverstone Holdings, LLC, Schlumberger Limited, Technipfmc, PLC, Weatherford International Limited among others.

The report contains comprehensive analysis on:

--> Global paints and coatings Market Segments

--> Global paints and coatings Market Drivers, Restraints and Opportunities

--> Global paints and coatings Market Size & Forecast 2016 to 2022

--> Supply & Demand Value Chain

--> Global paints and coatings Current Trends

--> Competition & Major Companies

--> Technology and R&D Status

--> Porters Five Force Analysis

--> Strategic and Critical Success Factor Analysis of Key Players

Regional analysis for Feed Software Market includes

--> North America
>> US and Canada
--> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
--> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
--> Eastern Europe
>> Russia
>> Poland
>> Rest of Eastern Europe
--> Asia Pacific
>> China
>> India
>> Japan
>> Australia and New Zealand
>> Rest of Asia Pacific
--> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.

Report Highlights::

--> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)

--> Consumer and Pricing Analysis

--> Market dynamics of the industry

--> In-depth Market Segmentation

--> Historical and Projected Market Sizing in terms of volume and value

--> Recent market trends and Impact Factors

--> R&D Status and Technology Overview

--> Extensive Industry Structure Coverage
Publisher Name : Market Litmus

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