Global Subsea Systems Strategic Business Report 2023: Favorable Long-Term Forecasts for Oil & Gas Sector Instil Market Optimism

DUBLIN, July 7, 2023 /PRNewswire/ -- 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 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/h2wm68

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