Global Subsea Systems Market to Reach $17 Billion by 2021 - Driven by Increasing Oil Discoveries in Emerging Economies - Research and Markets

DUBLIN, Dec 9, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Subsea Systems Market - Global Forecast to 2021" report to their offering.

The subsea systems market is projected to reach USD 17.44 billion by 2021, growing at a CAGR of 2.02% from 2016 to 2021.

Subsea systems are used in offshore oil production where subsea production systems reduce costs associated with topside facilities, while subsea processing systems work as ideal solutions for enhanced oil recovery in matured offshore wells. Increasing deepwater drilling activities all around the globe is the major driver for the subsea systems market. Increasing oil discoveries in emerging economies such as Asia and Africa are other major drivers to this market. The growth in emerging economies is attributed to increasing capital expenditures in the countries such as, China, India, Nigeria, Angola, Ghana, and Equatorial Guinea. Kenya, Tanzania, and Mozambique also provide exciting market opportunities.

Europe is currently the largest market for subsea systems, followed by South America. The fastest growing market, however, is projected to be Africa, owing to continued deepwater exploration and production activities, particularly offshore Angola. New gas discoveries and field developments in East African waters, offshore Mozambique and Tanzania will also help propel growth in the African market. 

Companies Mentioned:

• Aker Solutions
• Dril-Quip Inc.
• FMC Technologies
• GE Oil & Gas
• Kongsberg Gruppen
• National Oilwell Varco
• Nexans SA
• Oceaneering International, Inc.
• Onesubsea
• Parker Hannifin Corporation
• Proserv Group Inc.
• Subsea 7 SA
• Technip
• Twister BV
• Vallourec

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Subsea Systems Market, By Type

7 Subsea Production System Market, By Component

8 Subsea Processing System Market, By Technology

9 Subsea Systems Market, By Region

10 Competitive Landscape

11 Company Profiles

12 Appendix

For more information about this report visit http://www.researchandmarkets.com/research/dcrjts/subsea_systems

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SOURCE Research and Markets