"Actionable Insights to Fuel Your Growth"

Production and Processing System Market Size, Share & Industry Analysis, By Components (Production System, Processing System), By Water Depth (Shallow water, Deepwater ,Ultra-Deepwater) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI101559 | Status : Ongoing

 

KEY MARKET INSIGHTS

Energy consumption is increasing day-by-day on account of the growing population and power consumption per capita. Although there is an increasing trend of power production from renewable sources, power production from oil and gas dominates the power production. A rising number of cars positively influence the consumption of petroleum products like petrol, diesel, and CNG. Subsea production and processing play an important role to cater to increasing demand for oil and gas.


A subsea production system consists of a subsea completed well, seabed wellhead, subsea production tree, a subsea tie-in to flowline system, and subsea equipment and control facilities to operate the well. It can range in complexity from a single satellite well with a flowline linked to a fixed platform, FPSO (Floating Production, Storage and Offloading), or onshore facilities, to several wells on a template or clustered around a manifold that transfer to a fixed or floating facility or directly to onshore facilities. Subsea processing (SSP) can be defined as any handling and treatment of the produced fluids for mitigating flow assurance issues before reaching the platform or onshore.

Up Arrow

Key Market Driver -

Key Market Driver – Increase in demand for oil and natural gas

Down Arrow

Key Market Restraint -

Key Market Restraint – Low crude oil prices


Based on components, Subsea Production and Processing System market is segmented in production system and processing system. The production system is further categorized as Subsea Trees, Umbilicals & Risers, Manifolds & Jumper, Tie-in & Flowline, Control Systems, Subsea wellhead, and Others.

Similarly, the processing system is further categorized as Boosting, Separation, Gas Treatment, Chemical Injection, and Others. Based on water depth, Subsea Production and Processing System market is segmented in Shallow Water, Deepwater and Ultra-deepwater.

The primary market driver for global subsea production and processing system market is the increase in demand for oil and gas in countries like India, USA, and China. Favorable government policies are a big boost for subsea production and processing system. As a result of low crude oil prices, investment in subsea production and processing system activities has reduced significantly.

Key Players Covered


Some of the notable companies in the global subsea production and processing system market are Aker Solutions, Baker Hughes, a GE company, TechnipFMC, Audubon Companies, Schlumberger, Drill-Quip, National Oilwell Varco, Oceaneering, Worldwide Oilfield Machine, Helix Energy Solutions Group, Weatherford, Halliburton, KERUI PETROLEUM and Rongsheng Machinery Manufacture Ltd. Of Huabei Oilfield.

Regional Analysis


The global subsea production and processing system market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. There is an increase in offshore oil production in North America. Exploration and drilling activities have been gaining traction in Gulf of Mexico, California coast and Alaska coast and will boost subsea production and processing system market.

To gain extensive insights into the market, Request for Customization


Middle East and Africa region play a significant role in the growth of subsea production and processing system market. Several oil and gas offshore blocks remain unexplored in oceans near African countries. Middle East countries are expanding the production capacities of their offshore oil and gas wells. Asia-Pacific will play a major role in subsea production and processing system market. The exploration and drilling activities are being encouraged by several governments in this region.

Segmentation






















 ATTRIBUTE

 DETAILS

By Components



  • Production System

    • Subsea Trees

    • Umbilicals & Risers

    • Manifolds & Jumper

    • Tie-in and Flowline

    • Control Systems

    • Subsea wellhead

    • Others



  • Processing System

    • Boosting

    • Separation

    • Gas Treatment

    • Chemical Injection

    • Others





By Water Depth



  • Shallow water

  • Deepwater

  • Ultra-Deepwater



By Geography



  • North America (the USA and Canada)

  • Europe (UK, Germany, France, Italy, Spain and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)



           

Key Industry Developments



  • In July 2019, McDermott International, Inc. and Baker Hughes, a GE company (BHGE), together have won subsea contracts for the Inpex Corp.-operated Ichthys Liquefied Natural Gas (LNG) field development off Western Australia’s northwest coast. McDermott and BHGE will collaborate to provide subsea equipment and expand existing Ichthys LNG subsea facilities.

  • In Aug 2019, A joint industry project (JIP) comprising ABB, Equinor, Total, and Chevron, is developing technologies for subsea power transmission, distribution, and conversion. The output will form a critical part of future advanced subsea-field developments. The JIP began in 2013 and a final 3,000-hour shallow-water test in a sheltered harbor is planned to be completed by the end of 2019.

  • In Jul 2019, French engineering firm TechnipFMC has won a North Sea contract for the Seagull development by a joint venture (JV) partners Neptune Energy and BP. The deal will see TechnipFMC provide engineering, procurement, construction and installation (EPCI) in a Target Cost contract. Under the scope of the contract, TechnipFMC will construct and install the subsea equipment. 





  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients

Fujifilm
Itochu
Itic
Sumitomo
Schlumberger

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X