Furthermore, it assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global subsea equipment market has also been forecasted for the period 2016-2020, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The competition in the global subsea equipment market is dominated by the three big players Aker Solutions, FMC Technologies, Inc. and Technip, who are also profiled with their financial information and respective business strategies.
The oil industry has been witnessing a major downturn for the first time in 30 years. This downturn has impacted the industry revenue for 2015 which was estimated to be lower than 2014, thus, making industry profits to shrink. The return on capital employed fell for the companies and it followed from falling commodity prices driven by a global supply of oil and natural gas and increased spending on more-complex capital intensive projects.
The subsea refers to the processes, technology, method or equipment that are used in the oil industry/ employed in undersea geology, under water mining, offshore oil and gas developments, etc. In the oil & gas industry, subsea relates to the drilling, exploration and development of oil & gas fields in underwater locations at shallow and deep water level. The subsea equipment market can be divided into four different sectors: the SURF, the subsea trees, the manifolds and the subsea control module system.
The global subsea equipment market has been estimated to increase at a significant CAGR during the years 2015-2020. The subsea and subsea equipment market is expected to increase due to increasing global energy demand, rising global population, discovery of deep water and undeveloped fields, etc. Yet the market faces some challenges such as, falling global oil prices, high maintenance of subsea equipment, supply chain constraints and harsh environmental conditions.
2.1 Onshore Production
2.2 Deep water Production/Offshore Production
2.3 Subsea Equipment Market: An Overview
2.3.1 Subsea Equipment
3. Global Market Analysis
3.1 Global Subsea Equipment Market: An Analysis
3.1.1 Global Subsea Equipment Market by Value
3.1.2 Global Subsea Equipment Market by Geography
3.1.3 Global Subsea Equipment Market by CAPEX
3.1.4 Global Subsea Equipment Market by Backlog
3.2 Global Subsea Equipment Market by Segments
3.2.1 Global SURF Market: An Analysis
3.2.2 Global Tree Market: An Analysis
3.2.3 Global Manifolds Market Segment by Value
3.2.4 Global Subsea Control Module Market: An Analysis
4. Market Dynamics
4.1 Growth Driver
4.1.1 Rising Global Energy Demand
4.1.2 Increasing Global Population
4.1.3 Increasing Energy Demand of Emerging Economies
4.1.4 Growing Deep water Discoveries and Undeveloped Fields
4.1.5 Increasing Need for Replacement
4.2.1 Falling Global Oil Prices
4.2.2 High Maintenance of Subsea Equipment
4.2.3 Supply Chain Constraints
4.2.4 Harsh Environmental Conditions
4.2.5 Hampered Market for Subsea Hardware
4.3 Market Trends
4.3.1 Evolution of Subsea Technology
4.3.2 Exploration of New Energy Reserves
4.3.3 New Production Requirement
4.3.4 Innovation/Integration of New Technology with Traditional Ones
4.3.5 Change in Traditional Bidding Formula
5. Competitive Landscape
5.1 Global Competitive Landscape
5.1.1 On the Basis of Market Share
5.1.2 On the Basis of Share in Subsea Tree Awards
5.1.3 On the Basis of Share in Subsea Control Module Awards
5.1.4 On the Basis of Share in Umbilical Awards
6. Company Profile
6.1 Aker Solutions
6.1.1 Business Overview
6.1.2 Financial Overview
6.1.3 Business Strategy
6.2 FMC Technologies, Inc.
6.2.1 Business Overview
6.2.2 Financial Overview
6.2.3 Business Strategy
6.3.1 Business Overview
6.3.2 Financial Overview
6.3.3 Business Strategy
List of Figures
Figure 1: Oil Extraction & Production
Figure 2: Subsea Equipment
Figure 3: Global Subsea Equipment Market by Value; 2015-2020 (US$ Billion)
Figure 4: Global Subsea Equipment Market by Geography; 2015-2020
Figure 5: Global Subsea Equipment Market by CAPEX; 2010-2020 (US$ Billion)
Figure 6: Global Subsea Equipment Market by Backlog; 2010-2015 (US$ Billion)
Figure 7: Global SURF Market by Value; 2015-2020 (US$ Billion)
Figure 8: Global SURF Market by CAPEX; 2010-2020 (US$ Billion)
Figure 9: Global SURF Market CAPEX by Region; 2015
Figure 10: Global SURF Market CAPEX by Water Depth; 2015
Figure 11: Global Surf Market CAPEX by Object Type; 2015-2018
Figure 12: Global SURF Umbilical by Awards; 2009-2014 (Kilometer)
Figure 13: Global SURF Umbilical Awards by Region; 2014
Figure 14: Global Tree Market by Awards; 2010-2017 (Number of Awards)
Figure 15: Global Tree Market by Region; 2015
Figure 16: Global Tree Market by Water Depth; 2015
Figure 17: Global Tree Market by Operating Group; 2015
Figure 18: Global Tree Market by Project Status; 2015-2017
Figure 19: Global Manifold Market by Value; 2015-2020 (US$ Billion)
Figure 20: Global Subsea Control Module Market by Awards; 2010-2014 (Awards)
Figure 21: Global Subsea Control Module Market by Region; 2015
Figure 22: Global Energy Demand; 1971-2030 (Billion Tonne)
Figure 23: Global Population; 2011-2015 (Billion)
Figure 24: Energy Demand of Emerging Economies; 2015-2035 (Million Tonne)
Figure 25: Deep water Discoveries and Undeveloped Fields; 2009-2014
Figure 26: Global Oil Prices; 2011-2016 (US$ Per Barrel)
Figure 27: New Energy Reserves to Meet World Demand; 2025 (Million Barrels per Day)
Figure 28: New Production Requirement; 2009-2030 (Million Barrel Per Day)
Figure 29: Global Subsea Equipment Market Share by Players; 2015
Figure 30: Global Share of Players in Subsea Tree Awards; 2014 (Percentage, %)
Figure 31: Global Share of Players in Subsea Control Module Awards; 2014 (Percentage,%)
Figure 32: Global Share of Players in Umbilical Awards; 2014 (Percentage, %)
Figure 33: Aker Solutions Revenue; 2011-2015 (US$ Billion)
Figure 34: Aker Solutions Revenue by Segments; 2015
Figure 35: FMC Technologies, Inc. Revenue; 2011-2015 (US$ Billion)
Figure 36: FMC Technologies, Inc. Revenue by Segments; 2015
Figure 37: Technip Revenue; 2011-2015 (US$ Billion)
Figure 38: Technip Revenue by Segments; 2015
List Of Tables
Table 1: Subsea Technology: An Overview
Table 2: Quality of Partnerships Against Research & Development Investment
- FMC Technologies, Inc.
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