USD 10897.7 million
Subsea System Market Size, Share, Growth Analysis, By Type(Subsea Production, Subsea Processing), By Component(Umbilical, Manifolds, Trees, Flowlines), By Technology(Boosting, Separation, Injection, Compression), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20F2004 |
Region:
Global |
Published Date: July, 2001
Pages:
242
|Tables:
91
|Figures:
76
Subsea System Market Insights
Subsea System Market size was valued at USD 11529.77 Million in 2023 and is poised to grow from USD 12198.5 Million in 2024 to USD 20261.76 Million by 2032, growing at a CAGR of 5.8% during the forecast period (2025-2032).
In developing offshore wells, subsea frameworks are the ideal solution for amazing oil recovery. It maintains offshore well stability while providing low cost. Subsea boosting, division, infusion, and subsea pressure equipment are examples of subsea handling systems that can be used for hydrocarbon preparation at the seafloor. The production of oil and gas from seaward wells through the strong field is increased by subsea handling. an increase in deepwater and ultra-deepwater exploration and production due to the rising demand for energy. The subsea system is being tried to grow with the help of the quick development of underwater technology and operational cost reduction.
The global subsea systems market suffered as a result of the COVID-19 outbreak in Q1 2021, as lockdown restrictions imposed by governments around the world reduced oil and gas demand and production. For instance, OPEC nations decreased oil production by 9.7 million barrels per day between May and July 2021 to offset lower oil demand as a result of the COVID-19 pandemic.
The offshore oil and gas equipment and services market, and by extension, the subsea systems market, are expected to be significantly influenced by factors such as the rise in oil prices following the downturn period and rising investments in the offshore oil and gas sector during the forecast period. Additionally, the market is likely to grow as offshore projects' viability increases and activity in deepwater and ultra-deepwater reserves increases. The market for subsea systems is expected to grow, but this is expected to be hampered by the high installation costs for subsea equipment and the dangers involved with offshore drilling and production.
US Subsea System Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
5.8% CAGR
Global Intravascular Cooling Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Subsea System Market Segmental Analysis
Global Subsea System Market is Segmented based on Type, component, Technology. Based on Type the Subsea System Market is further sub segmented into Subsea Production, and Subsea Processing, Based on Component the Subsea System Market is further sub segmented into Umbilical, Manifolds, Trees, Flowlines and Others, Based on Technology the Subsea System Market is further sub segmented into Boosting, Separation, Injection and Compression System. Based on Region the Subsea System Market is further sub segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Subsea System Market Analysis By Type
The Subsea Production type segment is dominated by subsea production. The subsea boosting system, subsea separation system, subsea injection system, and subsea compression system can all be classified as segments of the global subsea systems market. The aforementioned segments are all necessary for subsea operations. The market can be divided into two types: subsea production and subsea processing. Boosting technology is expected to be in high demand in the worldwide subsea system market due to the requirement to increase production and recover from ageing subsea fields.
Subsea System Market Analysis By Component
In order to manage the flow of production or injection fluids and to connect the well's tubing and other equipment to the seafloor and facilities above the water, subsea trees are used in conjunction with the wellhead. Umbilicals connect oil and gas equipment for controls, power, or heat between the surface and the bottom. They supply the subsea unit with electrical power, hydraulic and chemical injection fluids, and electric and fiber-optic signals. Diverse processes can be incorporated into subsea processing to help reduce the cost and complexity of developing an offshore field. Subsea water evacuation and re-infusion or transfer, single-stage and multi-stage boosting of good liquids, sand, and strong division, gas/fluid detachment and boosting, gas treatment, and pressure are the primary categories of subsea preparation.
Global Intravascular Cooling Market Share By End-User, 2021 (%)
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Subsea System Market Regional Insights
Europe dominates the subsea system market on a regional basis. The region's deepwater drilling market is expected to grow as a result of rising deepwater drilling activities and rising safety and security expenditures in Norway and the UK. The Middle East & Africa (MEA) region came after Europe. During the period of forecasting, it is expected to have the market's fastest growth. The largest oil and gas exporters in this region are Saudi Arabia and the United Arab Emirates, and they have plans to further develop their infrastructure for oil and gas production. In addition, growing offshore oil discoveries have increased investments in major oil-producing African countries like Angola, Ghana, Nigeria, and Equatorial Guinea.
During the forecast period, the regions of Latin America and Asia-Pacific are also expected to make significant contributions. Significant oil and gas discoveries have been made in Latin America's offshore regions, including the Perla Field in the Gulf of Venezuela and the Gulf of Mexico. The Asia Pacific region's rising energy demand, particularly from China and India, is expected to drive market expansion during the forecast period.
Global Intravascular Cooling Market By Geography, 2021 - 2028
- Largest
- Fastest
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Subsea System Market Dynamics
Subsea System Market Driver
- The major factors propelling the expansion of the subsea systems market are rising deep water production and exploration activities. The market for subsea systems is expanding due to the quick development of subsea technology and the decline in operational costs. Through efficient field management, the subsea processing system increases the volume of oil and gas produced from offshore wells, which has a positive impact on the expansion of the subsea systems market. Continuously rising investments by emerging nations in offshore exploration are expected to provide lucrative opportunities for the market player of the subsea systems market.
Subsea System Market Restraint
- Due to geopolitical factors and fluctuations in the price of oil and gas, it is expected that this factor will hinder the growth of the worldwide subsea systems market. This increased the likelihood that the oil and gas sectors would fail.
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Subsea System Market Competitive Landscape
Most of the companies are actively investing in R&D activities to develop innovative products that help the company to improve its market share and generate more revenue. The market for subsea systems has a fair amount of consolidation. A few of the major participants in the market are:
Subsea System Market Top Player’s Company Profiles
- TechnipFMC PLC
- Aker Solutions ASA
- Saipem S.p.A.
- OneSubsea, a Schlumberger company
- Baker Hughes Company
- Subsea 7 S.A.
- Oceaneering International, Inc.
- National Oilwell Varco, Inc.
- Siemens AG
- Prysmian Group
- General Electric Company
- Cameron International Corporation
- Vallourec S.A.
- Nexans S.A.
- ABB Ltd.
- Weatherford International plc
- Vallourec SA
- McDermott International, Inc.
- MODEC, Inc.
- Kongsberg Oil & Gas Technologies
Subsea System Market Recent Development
- In February 2022, Norwegian Innova and the US Teledyne Energy System teamed up to conduct a hydrogen-powered subsea control system local power demonstration. The validation test was completed by the companies at the Tau Autonomy Center of the Norwegian Center for Offshore Education in Tau, Norway. It included a well intervention simulation in which the Subsea Supercharger powered an Innova subsea hydraulic pumping unit (sHPU).
- In February 2022, Announcing its first exploration well in Abu Dhabi's offshore regions in February 2022, EniSpA is an Italian oil and gas company. The business also disclosed that its first exploration well, XF-002, which is being drilled in offshore Block 2 Abu Dhabi (UAE) at a depth of 115 feet, had produced promising results.
Subsea System Key Market Trends
- Offshore exploration and production (E&P) activities have increased in recent years as a result of the increasing number of maturing onshore oil fields. For instance, the production from old wells in the Permian Basin, the most important basin in terms of crude oil production, has begun to decline, and there is little room for discovery in these regions.
- The output from deepwater fields is expected to reach 7.6 million barrels per day by 2025 and 9 million barrels per day by 2028 as a result of growing deepwater and ultra-deepwater activity in the South American, North American, and European regions. Consequently, it is expected that demand for subsea production systems would rise and continue to fuel the industry. In order to fulfil the rising demand, the oil and gas industry is moving toward deeper locations to look for oil and gas. The market is therefore expected to be driven by subsea production systems, whose share is expected to be the greatest among subsea system segments.
Subsea System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the Subsea Production segment dominated the global Subsea System Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, Europe dominated the global Subsea System Market owing to the region's highly aware and economically stable population.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 10897.7 million |
| Market size value in 2031 | USD 19151 million |
| Growth Rate | 5.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Subsea System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Subsea System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Subsea System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Subsea System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Subsea System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Subsea System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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