Subsea Well Access System Market to Reach $3.6 Billion by 2022 - Major Oil & Gas Companies have Shifted their Attention Towards Technological Advancements

DUBLIN, July 27, 2017 /PRNewswire/ --

The "Subsea Well Access System Market by Type (Rig-Based and Vessel-Based), and Region - Global Forecasts to 2022" report has been added to Research and Markets' offering.

The subsea well access system market is projected to grow at a CAGR of 4.79% from 2017 to 2022 to reach a market size of USD 3.62 Billion by 2022. With the decline in oil reserves and prices, major oil & gas companies have shifted their attention towards technological advancements in inventing tools and techniques. Companies are currently focused on increasing the recovery and extending the life of mature wells, exceeding natural production levels.

Increased water cut with constrained topside facilities, increasing flow assurance challenges, growing operating costs, and integrity challenges, due to aging facilities are major factors that led to mature wells. These factors are also becoming operational and economically unviable with time. This has led to a growing demand for the well access system. Apart from this, wireline-based services also help oil & gas operators to lower measurement devices into the wells, such as those used in well logging. Hence, a global increase in number of maturing wells, has resulted in the increase in demand for well access systems.

The report segments the subsea well access system market based on type into rig-based well access system and vessel-based well access system. Rig-based well access system dominated the equipment segment due to rise in drilling activities in North America, the Middle East, and Africa to meet the energy demand.

In this report, the subsea well access system market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa.

Companies Mentioned

• Aker Solutions ASA
• Baker Hughes Incorporated
• Dril-Quip, Inc.
• Drilling Services Limited
• GE Oil & Gas
• Halliburton Company
• National Oilwell Varco, Inc.
• Oceaneering International, Inc.
• Parker-Hannifin Corporation
• Riverstone Holdings, LLC
• Schlumberger Limited
• Technipfmc, PLC
• Weatherford International Limited

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Blowout Preventer (BOP) Market, By Type

7 Blowout Preventer (BOP) Market, By End-User

8 Subsea Well Access System Market, By Type

9 Subsea Well Access System & BOP Market, By Region

10 Competitive Landscape

11 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/2csfzf/subsea_well

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SOURCE Research and Markets