Insights on the Subsea Systems Global Market to 2026 – Emphasis on Migration from Onshore to Offshore Operations to Augment Long-Term Growth Prospects – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Subsea Systems – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

Amid the COVID-19 crisis, the global market for Subsea Systems estimated at US$11.4 Billion in the year 2020, is projected to reach a revised size of US$14.1 Billion by 2026, growing at a CAGR of 3.5% over the analysis period.

SURF, one of the segments analyzed in the report, is projected to record a 3.9% CAGR and reach US$4.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Subsea Trees segment is readjusted to a revised 2.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.7 Billion in 2021, While China is Forecast to Reach $962.3 Million by 2026

The Subsea Systems market in the U.S. is estimated at US$1.7 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$962.3 Million by the year 2026 trailing a CAGR of 3.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.

Subsea Control Systems Segment to Reach $1.3 Billion by 2026

In the global Subsea Control Systems segment, USA, Canada, Japan, China and Europe will drive the 2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$633.9 Million in the year 2020 will reach a projected size of US$727.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$77.2 Million by the year 2026.

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 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

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/ce25ua

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900