Subsea systems market forecast and opportunities, 2014 2024 - TechSci Research

2014 – 2024 GLOBAL SUBSEA SYSTEMS MARKET

© TechSci Research

COMPETITION, FORECAST & OPPORTUNITIES

Published: September, 2019

www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

1

Table of Contents S. No.

Contents

1.

Subsea Systems: Product Overview

2.

Research Methodology

3.

Executive Summary

4.

Voice of Customer Factors Considered While Selecting Subsea Systems

4.2.

Brand Awareness

4.3.

Challenges/issues Faced Post Purchase

4.4.

Unmet Needs

Global Subsea Systems Market Outlook 5.1.

Market Size & Forecast 5.1.1.

5.2.

5.3.

6.

By Value

Market Share & Forecast 5.2.1.

By Type (Subsea Production System; Subsea Processing System)

5.2.2.

By Subsea Production Component (SURF (Subsea Umbilicals, Risers, Flowlines); Subsea Trees; Subsea Control System; Subsea Manifolds)

5.2.3.

By Subsea Processing Technology (Subsea Boosting System; Subsea Separation System; Subsea Injection System; Subsea Compression System)

5.2.4.

By Region (Asia-Pacific, Europe, North America, South America, Middle East & Africa)

5.2.5.

By Company (2018)

Product Map

© TechSci Research

5.

4.1.

Page No.

North America Subsea Systems Market Outlook 6.1.

Market Size & Forecast 6.1.1.

By Value -

2

Table of Contents

S. No.

Contents

6.3.

Market Share & Forecast 6.2.1.

By Type

6.2.2.

By Subsea Production Component

6.2.3.

By Subsea Processing Technology

6.2.4.

By Country

North America: Country Analysis 6.3.1.

United States Subsea Systems Market Outlook 6.3.1.1.

Market Size & Forecast 6.3.1.1.1.

6.3.1.2.

6.3.2.

Market Share & Forecast 6.3.1.2.1.

By Type

6.3.1.2.2.

By Subsea Production Component

Mexico Subsea Systems Market Outlook 6.3.2.1.

Market Size & Forecast 6.3.2.1.1.

6.3.2.2.

6.3.3.

By Value

By Value

Market Share & Forecast 6.3.2.2.1.

By Type

6.3.2.2.2.

By Subsea Production Component

© TechSci Research

6.2.

Page No.

Canada Subsea Systems Market Outlook 6.3.3.1.

Market Size & Forecast 6.3.3.1.1.

By Value

3

Table of Contents

S. No.

Contents 6.3.3.2.

Market Share & Forecast 6.3.3.2.1.

By Type

6.3.3.2.2.

By Subsea Production Component

Middle East & Africa Subsea Systems Market Outlook 7.1.

Market Size & Forecast 7.1.1.

7.2.

7.3.

By Value

Market Share & Forecast 7.2.1.

By Type

7.2.2.

By Subsea Production Component

7.2.3.

By Subsea Processing Technology

7.2.4.

By Country

Middle East & Africa : Country Analysis 7.3.1.

Saudi Arabia Subsea Systems Market Outlook 7.3.1.1.

Market Size & Forecast 7.3.1.1.1.

7.3.1.2.

By Value

© TechSci Research

7.

Page No.

Market Share & Forecast 7.3.1.2.1.

By Type

7.3.1.2.2.

By Subsea Production Component

4

Table of Contents

S. No.

Contents UAE Subsea Systems Market Outlook 7.3.2.1.

Market Size & Forecast 7.3.3.1.1

7.3.2.2.

7.3.3.

Market Share & Forecast 7.3.3.2.1.

By Type

7.3.3.2.2.

By Subsea Production Component

Iran Subsea Systems Market Outlook 7.3.3.1.

Market Size & Forecast 7.3.3.1.1.

7.3.3.2.

7.3.4.

By Value

By Value

Market Share & Forecast 7.3.3.2.1.

By Type

7.3.3.2.2.

By Subsea Production Component

Nigeria Subsea Systems Market Outlook 7.3.4.1.

Market Size & Forecast 7.3.4.1.1

7.3.4.2.

By Value © TechSci Research

7.3.2.

Page No.

Market Share & Forecast 7.3.4.2.1.

By Type

7.3.4.2.2.

By Subsea Production Component

5

Table of Contents

S. No.

Page No.

Asia-Pacific Subsea Systems Market Outlook 8.1.

Market Size & Forecast 8.1.1.

8.2.

8.3.

By Value

Market Share & Forecast 8.2.1.

By Type

8.2.2.

By Subsea Production Component

8.2.3.

By Subsea Production Technology

8.2.4.

By Country

Asia-Pacific: Country Analysis 8.3.1.

China Subsea Systems Market Outlook 8.3.1.1.

Market Size & Forecast 8.3.1.1.1.

8.3.1.2.

8.3.2.

By Value

Market Size & Forecast 8.3.1.2.1.

By Type

8.3.1.2.2.

By Subsea Production Component

© TechSci Research

8.

Contents

Thailand Subsea Systems Market Outlook 8.3.2.1.

Market Size & Forecast 8.3.2.1.1.

By Value

6

Table of Contents

S. No.

Contents 8.3.2.2.

Market Share & Forecast 8.3.2.2.1.

By Type

8.3.2.2.2.

By Subsea Production Component

India Subsea Systems Market Outlook 8.3.3.1.

Market Size & Forecast 8.3.3.1.1.

8.3.3.2.

8.3.4.

Market Share & Forecast 8.3.3.2.1.

By Type

8.3.3.2.2.

By Subsea Production Component

Indonesia Subsea Systems Market Outlook 8.3.4.1.

Market Size & Forecast 8.3.4.1.1.

8.3.4.2.

8.3.5.

By Value

By Value

Market Share & Forecast 8.3.4.2.1.

By Type

8.3.4.2.2.

By Subsea Production Component

Malaysia Subsea Systems Market Outlook 8.3.5.1.

Market Size & Forecast 8.3.5.1.1.

8.3.5.2.

By Value

© TechSci Research

8.3.3

Page No.

Market Share & Forecast 8.3.5.2.1.

By Type

8.3.5.2.2.

By Subsea Production Component

7

Table of Contents

S. No.`

Page No.

Europe Subsea Systems Market Outlook 9.1.

Market Size & Forecast 9.1.1.

9.2.

9.3.

By Value

Market Share & Forecast 9.2.1.

By Type

9.2.2.

By Subsea Production Component

9.2.3.

By Subsea Production Technology

9.2.4.

By Country

Europe: Country Analysis 9.3.1.

Russia Subsea Systems Market Outlook 9.3.1.1.

Market Size & Forecast 9.3.1.1.1.

9.3.1.2.

9.3.2.

By Value

Market Share & Forecast 9.3.1.2.1.

By Type

9.3.1.2.2.

By Subsea Production Component

Norway Subsea Systems Market Outlook 9.3.2.1.

Market Size & Forecast 9.3.2.1.1

9.3.2.2.

By Value

© TechSci Research

9.

Contents

Market Share & Forecast 9.3.2.2.1.

By Type

9.3.2.2.2.

By Subsea Production Component

8

Table of Contents

S. No.

Contents United Kingdom Subsea Systems Market Outlook 9.3.3.1.

Market Size & Forecast 9.3.3.1.1.

9.3.3.2.

9.3.4.

Market Share & Forecast 9.3.3.2.1.

By Type

9.3.3.2.2.

By Subsea Production Component

Denmark Subsea Systems Market Outlook 9.3.4.1.

Market Size & Forecast 9.3.4.1.1.

9.3.4.2.

9.3.5.

By Value

By Value

Market Share & Forecast 9.3.4.2.1.

By Type

9.3.4.2.2.

By Subsea Production Component

Germany Subsea Systems Market Outlook 9.3.5.1.

Market Size & Forecast 9.3.5.2.

9.3.5.2.

By Value © TechSci Research

9.3.3.

Page No.

Market Share & Forecast 9.3.5.2.1.

By Type

9.3.5.2.2.

By Subsea Production Component

9

Table of Contents

S. No.

Page No.

South America Subsea Systems Market Outlook 10.1.

Market Size & Forecast 10.1.1.

10.2.

10.3.

By Value

Market Share & Forecast 10.2.1.

By Type

10.2.2.

By Subsea Production Component

10.2.3.

By Subsea Production Technology

10.2.4.

By Country

South America: Country Analysis 10.3.1.

Brazil Subsea Systems Market Outlook 10.3.1.1.

Market Size & Forecast 10.3.1.1.1.

10.3.1.2.

10.3.2.

By Value

Market Share & Forecast 10.3.1.2.1.

By Type

10.3.1.2.2.

By Subsea Production Component

Argentina Subsea Systems Market Outlook 10.3.2.1.

Market Size & Forecast 10.3.2.1.1

10.3.2.2.

© TechSci Research

10.

Contents

By Value

Market Share & Forecast 10.3.2.2.1.

By Type

10

Table of Contents

S. No.

Contents 10.3.2.2.2.

10.3.3.

By Subsea Production Component

Colombia Subsea Systems Market Outlook 10.3.3.1.

Market Size & Forecast 10.3.3.1.1.

10.3.3.2.

By Value

Market Share & Forecast 10.3.3.2.1.

By Type

10.3.3.2.2.

By Subsea Production Component

Market Dynamics 11.1.

Drivers

11.2.

Challenges

12.

Market Trends and Developments

13.

Competitive Landscape 13.1.

Competition Matrix

13.2.

Company Profiles 13.2.1.

TechnipFMC Plc.

13.2.2.

OneSubsea

13.2.3.

Baker Hughes, A GE Company

13.2.4.

Aker Solutions

Š TechSci Research

11.

Page No.

11

Table of Contents

Contents 13.2.5.

Subsea 7 SA

13.2.6.

Dril-Quip, Inc.

13.2.7.

National Oilwell Varco

13.2.8.

Oceaneering International, Inc.

13.2.9.

McDermott International, Inc

13.2.10.

Proserve UK Ltd.

14.

Strategic Recommendations

15.

About Us & Disclaimer

Page No.

© TechSci Research

S. No.

12

Scope of Report Product of Interest (POI): Subsea Systems

Subsea equipment is used to explore, develop, and bring the produced hydrocarbons from the seabed to the surface. These are generally floating systems, located on the seabed, shallow, or deep water. This system is used to extract petroleum products at the seabed and send to an already existing oil & gas production facility or an onshore facility.

Market Segmentation

SUBSEA PRODUCTION COMPONENT

SUBSEA SYSTEMS MARKET

•

Subsea Production System

•

Subsea Processing System

SUBSEA PROCESSING TECHNOLOGY

•

SURF (Subsea Umbilicals, Risers, Flowlines)

Year Range

•

Subsea Control System

•

Subsea Trees

Review Period

•

Subsea Manifolds

2014 – 2017

REGION

•

Subsea Boosting System

• Asia-Pacific

•

Subsea Separation System

• North America

•

Subsea Injection System

• Europe

•

Subsea Compression System

• South America • Middle East & Africa

Base Year

2018 Estimated Year

2019

© TechSci Research

TYPE

Forecast Period

2020 – 2024

13

Subsea Trees

SURF (Subsea Umbilicals, Risers, Flowlines)

Subsea trees are utilized to monitor and

Subsea umbilicals, risers and flowlines

control the oil and gas production of a

form a vital link during various stages of

subsea well. Subsea trees also manages

oil and gas extraction. These equipment

the gas and fluids injected into the

are made with set standards, as they

subsea well.

have to withstand high mechanical and chemical

stress

operating

under

high

Subsea Control System

Subsea

Subsea control systems allow the systems

umbilicals act as control cables capable of

on the seabed to be controlled from the

operating various tasks on the seabed

surface and topside controls.

temperature

and

pressure.

from the surface including activation of producing

wells,

operation

of

control panels, and providing real time information

to

operators

related

to

production flow such as temperature and pressure

Subsea Manifolds

subsea

Subsea manifolds works as a subsea flow router, that connects subsea trees and flowlines.

These

are

namely;

template

manifold,

and

of

three

manifold,

pipeline

end

types, Š TechSci Research

Subsea Production Component

Product Overview

cluster manifold

(PLEM).

14

Product Overview

Subsea Injection System

Subsea boosting systems are used to

This system injects the raw seawater

provide energy to the overall system and

directly on the seabed in order to put

handle flow of the unprocessed liquid like

pressure on oil wells and increase oil

water, oil, gas, etc. It reduces the cost,

recovery.

and onshore space requirement.

Subsea Compression System

Subsea Separation System Subsea separation systems are used to

Subsea wells require boosting of the

separate the fluid on the seabed and then

reservoir

send

downstream

to

the

onshore

facilities

with

flow

pressure

minimum amount of water. Separated

Subsea

water can be used to inject again to

replace

formation either to generate pressure or

compression facility.

gas the

when drops

compression need

for

an

pipeline down. systems onshore

Š TechSci Research

Subsea Processing Technology

Subsea Boosting System

for disposal.

15

Research Methodology

In-depth secondary research was conducted to determine top players in Global Subsea Systems market, overall market size and segmental market size.

Formulating Questionnaire

In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.

Developing List of Respondents

List of industry players and industry specialists was developed.

Data Collection

TechSci conducted interviews with industry experts and industry players for data collection and verification.

Primary Research  Identifying Key Opinion Leaders  Questionnaire Design  In-depth Interviews

Primary Research Research Primary

Data Collection

Data Filter & Analysis

Research & Intelligence

Actionable Insights

Business Solution

LinkedIn  LinkedIn TechSci Internal Internal  TechSci Database Database

Data Validation Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

Desk Research  Recent Developments  Market Changing Aspects/Dynamics  Government Policies  Final Conclusion

Secondary Secondary Research Research CompanyWebsites Websites  Company CompanyAnnual Annual  Company Reports Reports White Paper Paper Study Study  White Financial Reports Reports  Financial Investor  Investor Presentations Presentations Regulatory Body Body  Regulatory Associations, etc. etc.  Associations,

Data Analysis

The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about Global Subsea Systems Market.

Company Analysis  Market Participants  Key Strengths

Paid Sources Sources Paid Factiva  Factiva Hoovers  Hoovers © TechSci Research

Market Profiling

16

Research Methodology Baseline Methodology

Our dedicated team of industry experts has monitored and analyzed various aspects of global subsea systems market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors and speculated growth during the forecast period. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in global subsea systems market.

Methodology Followed for Calculation of Market Size:

Market Size by Value: Market size, in terms of value, for the year 2018 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as subsea systems manufacturers, oil & gas industry experts, etc.

Š TechSci Research

The team interviewed more than 30 companies, 20 industry experts and other value chain stakeholders in global subsea systems market to obtain the overall market size during 2014-2018, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data for 2014-2018.

17

Research Methodology Respondents were asked about the current and future market growth rates, as well as market shares by type, by subsea production component, by subsea processing technology, by region, and by company. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders

Methodology Followed for Calculation of Market Shares:

Market shares by type, by subsea production component, by subsea processing technology, by region, and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares of the leading subsea systems manufacturers. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Moreover, respondents were asked about the leading companies in global subsea systems market.

Š TechSci Research

Methodology Followed for Forecasting:

TechSci Research performed periodical checks on data collected through the surveys with logical checks and analyzed the survey results in SPSS/Tableau Software.

18

Research Methodology Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global subsea systems market, TechSci Research used various forecast techniques such as: o

Moving Average

o

Time Series Analysis

o

Regression Analysis

o

Econometric and Judgmental Analysis

TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions.

TechSci Research also used the impact analysis during short, medium- and long-term period to estimate and analyze market demand scenario.

Dril-Quip, Inc., National Oilwell Varco, Oceaneering International, Inc., Aker Solutions, Baker Partial List of Companies Interviewed

Hughes (A GE Company), McDermott International, Inc., Proserve UK Ltd., OneSubsea, TechnipFMC plc, and Subsea 7 SA

Company Annual Reports, Industry Magazines, Industry Reports, Company Websites, International Energy Agency (IEA), Factiva, World Bank, International Monetary Fund, Organization for Economic Co-operation & Development (OECD), Central Department of

Š TechSci Research

Partial List Secondary Sources

Statistics and Information, BP Statistics, etc.

19

INDUSTRY BRIEF According to a report published by TechSci Research on “Global Subsea Systems Market By Type, By Subsea Production Component, By Subsea Processing Technology, By Region, Competition, Forecast & Opportunities, 2024”, global subsea systems market is anticipated to witness growth at a CAGR of over 4% during forecast period on account of increasing focus on oil & gas production from offshore fields, particularly activities in deep-water reserves. Moreover, growing investments in oil and gas industry to meet the rising demand is further bolstering the growth of global subsea systems market. However, crude oil price fluctuations and complex underwater conditions are restraining the growth of the global subsea systems market.

On the basis of type, global subsea systems market is categorized into subsea processing system and subsea production system. Among these types, subsea processing system category accounted for a significant portion of the global subsea systems market in 2018. The growth of this category can be attributed to increasing demand for oil and gas technology upgradation.

Among regions, North America accounts for a significant portion of global subsea systems market on the back of offshore activities in the oil fields in the US and Mexico. Moreover, APAC is also anticipated to witness significant growth rate during the forecast period due to the reforms undertaken by the governments for increasing oil production in the region.

“Global subsea systems market is likely to witness growth during forecast period. Subsea systems market is witnessing a healthy growth in the

large new offshore discoveries. Additionally, it is also expected that growing demand for energy in developing countries of Asia-Pacific, like China and Indonesia would further fuel growth of global subsea systems market over the next five years.” said, Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

20

© TechSci Research

MEA region owing to rising investments in major oil producing African nations, namely, Ghana, Nigeria, Angola, and Equatorial Guinea driven by

SAMPLE DATA - SNAPSHOT Global Subsea Systems Market Size, By Value, 2014-2024F (USD Million)

2014

2015

2016

2017

CAGR (2019E-2024F)

By Value: xx%

2018

2019E

2020F

2021F

2022F

2023F

2024F

Global Subsea Systems Market Share, By Subsea

Global Subsea Systems Market Share, By Type,

Production Component, By Value, 2018

By Value, 2018

SURF (Subsea Subsea Umbilicals, Manifolds; Risers, 25.00% Flowlines); 25.00% Subsea

Trees; Subsea 25.00% Control

Subsea Production System; 50.00%

Subsea Processing System; 50.00%

© TechSci Research

CAGR (2014-2018)

By Value: xx%

System; 25.00%

21

REPORT ORDERING

Report Name: GLOBAL SUBSEA SYSTEMS MARKET COMPETITION, FORECAST & OPPORTUNITIES 2014 – 2024

License Type

Price

Electronic Access - Single User License

$4450

Electronic Access - Multi-User License

$5450

Custom Research License

$9450

© TechSci Research

Report Price

To View Sample OR Purchase Report

22

About Us & Disclaimer

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in a number of areas to organizations. The

Partial List of Clients

company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

Related Reports Global Offshore Oil & Gas Seismic Equipment and Acquisitions Solutions Market Forecast & Opportunities, 2014-2024 Global SSLNG Liquefaction Plant Market Forecast & Opportunities, 2014-2024 Global Drill Pipe Market Forecast & Opportunities, 2014-2024

New York, United States Tel: +1- 646- 360- 1656 Email: sales@techsciresearch.com www.techsciresearch.com

Disclaimer

TechSci Research – Europe 54, Old brook, Bretton, Peterborough, United Kingdom Email: sales@techsciresearch.com www.techsciresearch.com

TechSci Research – AsiaPacific B – 44, Sector – 57, Noida, National Capital Region, U.P. India Tel: +91-120-4523900 Email: sales@techsciresearch.com www.techsciresearch.com

The contents of this report are based on information generally available to the public from sources believed to be reliable.

No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand.

However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

© TechSci Research

TechSci Research – North America 708 Third Avenue, Manhattan,

23