DUBLIN, Jan. 22, 2018 /PRNewswire/ --
The "Global Subsea Production Systems Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.
The global subsea production systems market to grow at a CAGR of 3.21% during the period 2018-2022.
Global Subsea Production Systems Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one driver in the market is increase in global rig count. The upstream oil and gas industry is extremely reliant on the global crude oil prices. The recent crude oil price slump that started in mid-2014 severely affected the upstream industry. However, crude oil prices have now started to increase and are in the range of $50/W-$60/bbl. The decline in upstream operations was evident from the fact that the global active rig count had fallen dramatically. Reduced operations worldwide impacted major oil and gas exploration as well as service provider companies.
The oil and gas sector has extended its reach from land-based drilling to the offshore segment to tap the richness of the earth covered by water. The environmental conditions in the offshore sector are challenging as they vary greatly from the onshore sector. There were two major developments witnessed as drillers approached oceans for producing crude oil and natural gas.
One trend in the market is ERD technology. Extended reach drilling (ERD) well is defined as the well with step-out to ND (True vertical depth) ratio of 2:1 or higher. There are certain other factors taken into consideration such as key drilling challenges, water depth, and rig capabilities. Though the use of ERD technology in the current oil and gas market is not feasible, it is expected to be used in time, as using this technology is about the economics and demand in the market. In the last two years of low crude oil price, the operators have adopted this technology, which made the overall project commercially viable.
- Aker Solutions
- GENERAL ELECTRIC
- National Oilwell Varco
Other prominent vendors
- Parker Hannifin
- Prysmian Group
- SUBSEA 7
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation By Equipment Type
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers And Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/c7dcw6/global_subsea?w=5
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SOURCE Research and Markets