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Subsea Production & Processing Systems Market Size, Share & Industry Analysis, By Technology ( Subsea Trees, Risers, Umbilicals, Flowlines, Control Modules, Others ), By Process ( Boosting, Injection, Separation, Compression ) and regional Forecast, 2024-2032

Region :Global | Report ID: FBI104016 | Status : Ongoing



The consistent depletion of onshore hydrocarbon reserves compelled the operators and national oil companies to shift to focus from onshore to offshore. Technological advancement and paradigm shift to deepwater & ultra-deepwater exploration positively impacting the market. Subsea production & processing systems are gaining importance over its ability to maximize recovery, increasing production, and reducing costs. It provides a less expensive solution for the myriad offshore environment. Subsea processing is a viable solution for fields located in harsh conditions where processing equipment on the water surface might be at risk. Offshore fields worldwide have encompassed subsea processing into their development, owing to its ability to achieve a higher rate of production.

The subsea production and processing systems market is segmented into technology and process. Technology is further classified into subsea trees, risers, umbilicals, flow lines, and control modules. These technologies are essential in reducing development cost, to enhance reservoir productivity, and improve subsea system reliability. The main type of subsea processing includes boosting, injection, separation, and compression. It helps to save space on offshore production facilities, and separation of water, sand, and gas can be performed subsea.

The relentless onshore depletion due to excessive exploration and production activities obliged operators to shift their focus on deepwater & ultra-deepwater exploration to meet the rising demand for hydrocarbon. Moreover, the growing investment to discover untapped hydrocarbon reserves likely to drive the market.

Oil & gas industry going through a tough phase due to the coronavirus outbreak, which stalled all the economic activity around the world. The uncertainties surrounding due to the spread of virus deterring investors which likely to impede the growth.

Key Market Driver -

Spurring investment in deepwater and ultradeepwater extraction

Key Market Restraint -

Uncertainties looming over subdued economic acvitiy due to pandemic outbreak

Key Players Covered:

  • The leading subsea production and processing systems companies are Baker Hughes, Schlumberger, Transocean, TechnipFMC, Aker Solutions, Oceaneering, Saipem, National Oilwell Varco, DNV GL, and Acteon Group Ltd.

Regional Analysis:

The global subsea production & processing systems market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is one of the potential players in the market on account of consistent investment by the United States for offshore exploration. According to U.S. Energy Information Administration, the Gulf of Mexico offshore oil production accounts for 17% of total U.S. crude oil production, and offshore natural gas production in the Gulf accounts for 5% of the U.S. dry production. Hydrocarbon production is expected leverage from this field, which likely to bolster the demand for subsea production & processing systems. Europe is playing a crucial role in shaping the market dynamics. Norway is projected to increase the exploration and production activities in the North Sea to meet the rising demand for oil and gas. Similarly, UK is taking aggressive steps to bolster domestic production through offshore E&P. In Asia Pacific, India, China, Indonesia, and Malaysia are playing a vital role in driving the market. Exponential demand for energy and limited sources compelling the authorities to increase the investment in offshore exploration, which likely to brighten the market prospects. Similarly, in Latin America, Brazil is doing well in offshore exploration. It leads the world in deepwater and ultra-deepwater production putting the market

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By Technology

  • Subsea Trees

  • Risers

  • Umbilicals

  • Flowlines

  • Control Modules

  • Others

By Process

  • Boosting

  • Injection

  • Separation

  • Compression

By Geography

  • North America (US and Canada)

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

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

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

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


Key Industry Developments

  • In December 2019, OneSubsea, a subsidiary of Schlumberger secured a contract from Chevron to supply of an integrated subsea production and multiphase boosting system for the Anchor Field in the US Gulf of Mexico. The subsea technologies, production and processing systems division of Schlumberger will supply vertical monobore production tress multiphase flowmeters rated upto 20,000 psi.

  • In September 2019, Aker Solutions recently launched its Intelligent Subsea Field design system to accelerate offshore developments and optimize performance. Intelligent Subsea will address the needs of susbsea production by implementing an integrated approach to field design where subsea and top systems are optimized.

  • Ongoing
  • 2023
  • 2019-2022

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