NEW YORK, Oct. 4, 2022 /PRNewswire/ -- One of the key drivers of the subsea well access and blowout preventer system market growth is the rise in deepwater and ultra-deepwater and E&P activities. Companies extract oil and natural gas from onshore and offshore. They have shifted their focus from drilling shallow water resources to deepwater and ultra-deepwater resources that have large untapped reserves. The production of oil is costlier in ultra-deepwater environments than in conventional methods. The increase in investments in offshore drilling will fuel E&P activities in subsea wells, which will raise the need for subsea good access systems and blowout preventers. Hence, the increase in E&P activities in deepwater and ultra-deepwater resources will drive the global subsea well access and blowout preventer system market during the forecast period.
The global subsea well access and blowout preventer system market size is expected to grow by USD 3.69 billion from 2021 to 2026, according to Technavio. Moreover, the growth momentum of the market will accelerate at a CAGR of 6.65% during the forecast period.
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Vendor Landscape
The subsea well access and blowout preventer system market is fragmented due to the presence of many international and regional players. Vendors are deploying organic and inorganic strategies and growth strategies to compete in the market. The market has industry-focused, category-focused, and diversified vendors. The global subsea well access ad blowout preventer system market is expected to grow significantly during the forecast period owing to a rise in investments in subsea projects. Vendors in the market include manufacturers of subsea well access systems and blowout preventers.
Subsea Well Access And Blowout Preventer System Market Product Outlook (Revenue, USD bn, 2021-2026)
- Subsea BOP - size and forecast 2021-2026
- Subsea WAS - size and forecast 2021-2026
Subsea Well Access And Blowout Preventer System Market Geography Outlook (Revenue, USD bn, 2021-2026)
- Middle East and Africa - size and forecast 2021-2026
- APAC - size and forecast 2021-2026
- Europe - size and forecast 2021-2026
- North America - size and forecast 2021-2026
- South America - size and forecast 2021-2026
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Revenue-generating Product Segments
The subsea BOP segment will be the largest contributor to the growth of the subsea well access and blowout preventer system market during the forecast period. A subsea blowout preventer is a crucial pressure control equipment in subsea oil and gas wells. Its main function is to prevent the uncontrolled release of oil and gas from wellheads. This growth is attributed to factors such as rising environmental concerns and increasing subsea E&P activities.
Major Subsea Well Access and Blowout Preventer System Companies
- 4Subsea
- Aker Solutions ASA
- Baker Hughes Co.
- Dril Quip Inc.
- Eaton Corp. Plc
- Halliburton Co.
- Helix Energy Solutions Group Inc.
- KOSO Kent Introl Ltd.
- NOV Inc.
- Oceaneering International Inc.
- Optime Subsea
- RMZ Oilfield Engineering Pte Ltd.
- Schlumberger Ltd.
- Subsea 7 SA
- TechnipFMC plc
- Total Marine Technology Pty Ltd.
- Trendsetter Engineering Inc.
- Weatherford International Plc
- Worldwide Oilfield Machine Inc.
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Subsea Well Access And Blowout Preventer System Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.65% |
Market growth 2022-2026 |
USD 3.69 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.87 |
Regional analysis |
Middle East and Africa, APAC, Europe, North America, and South America |
Performing market contribution |
Middle East and Africa at 30% |
Key consumer countries |
US, Angola, Saudi Arabia, Norway, UK, and Brazil |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Key companies profiled |
4Subsea, Aker Solutions ASA, Baker Hughes Co., Dril Quip Inc., Eaton Corp. Plc, Halliburton Co., Helix Energy Solutions Group Inc., KOSO Kent Introl Ltd., NOV Inc., Oceaneering International Inc., Optime Subsea, RMZ Oilfield Engineering Pte Ltd., Schlumberger Ltd., Subsea 7 SA, TechnipFMC plc, Total Marine Technology Pty Ltd., Trendsetter Engineering Inc., Weatherford International Plc, and Worldwide Oilfield Machine Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 24: Chart on Product - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
- 5.2 Comparison by Product
- Exhibit 26: Chart on Comparison by Product
- Exhibit 27: Data Table on Comparison by Product
- 5.3 Subsea BOP - Market size and forecast 2021-2026
- Exhibit 28: Chart on Subsea BOP - Market size and forecast 2021-2026 ($ billion)
- Exhibit 29: Data Table on Subsea BOP - Market size and forecast 2021-2026 ($ billion)
- Exhibit 30: Chart on Subsea BOP - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Subsea BOP - Year-over-year growth 2021-2026 (%)
- 5.4 Subsea WAS - Market size and forecast 2021-2026
- Exhibit 32: Chart on Subsea WAS - Market size and forecast 2021-2026 ($ billion)
- Exhibit 33: Data Table on Subsea WAS - Market size and forecast 2021-2026 ($ billion)
- Exhibit 34: Chart on Subsea WAS - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Subsea WAS - Year-over-year growth 2021-2026 (%)
- 5.5 Market opportunity by Product
- Exhibit 36: Market opportunity by Product ($ billion)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison
- 7.3 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 42: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
- Exhibit 43: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
- Exhibit 44: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.4 APAC - Market size and forecast 2021-2026
- Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
- Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
- Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.5 Europe - Market size and forecast 2021-2026
- Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
- Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
- Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.6 North America - Market size and forecast 2021-2026
- Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.7 South America - Market size and forecast 2021-2026
- Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.8 Brazil - Market size and forecast 2021-2026
- Exhibit 62: Chart on Brazil - Market size and forecast 2021-2026 ($ billion)
- Exhibit 63: Data Table on Brazil - Market size and forecast 2021-2026 ($ billion)
- Exhibit 64: Chart on Brazil - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Brazil - Year-over-year growth 2021-2026 (%)
- 7.9 Angola - Market size and forecast 2021-2026
- Exhibit 66: Chart on Angola - Market size and forecast 2021-2026 ($ billion)
- Exhibit 67: Data Table on Angola - Market size and forecast 2021-2026 ($ billion)
- Exhibit 68: Chart on Angola - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Angola - Year-over-year growth 2021-2026 (%)
- 7.10 Norway - Market size and forecast 2021-2026
- Exhibit 70: Chart on Norway - Market size and forecast 2021-2026 ($ billion)
- Exhibit 71: Data Table on Norway - Market size and forecast 2021-2026 ($ billion)
- Exhibit 72: Chart on Norway - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Norway - Year-over-year growth 2021-2026 (%)
- 7.11 US - Market size and forecast 2021-2026
- Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ billion)
- Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ billion)
- Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.12 UK - Market size and forecast 2021-2026
- Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ billion)
- Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ billion)
- Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
- 7.13 Saudi Arabia - Market size and forecast 2021-2026
- Exhibit 82: Chart on Saudi Arabia - Market size and forecast 2021-2026 ($ billion)
- Exhibit 83: Data Table on Saudi Arabia - Market size and forecast 2021-2026 ($ billion)
- Exhibit 84: Chart on Saudi Arabia - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Saudi Arabia - Year-over-year growth 2021-2026 (%)
- 7.14 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ billion)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 90: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 91: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification
- 10.3 Aker Solutions ASA
- Exhibit 93: Aker Solutions ASA - Overview
- Exhibit 94: Aker Solutions ASA - Business segments
- Exhibit 95: Aker Solutions ASA - Key offerings
- Exhibit 96: Aker Solutions ASA - Segment focus
- 10.4 Baker Hughes Co.
- Exhibit 97: Baker Hughes Co. - Overview
- Exhibit 98: Baker Hughes Co. - Business segments
- Exhibit 99: Baker Hughes Co. - Key news
- Exhibit 100: Baker Hughes Co. - Key offerings
- Exhibit 101: Baker Hughes Co. - Segment focus
- 10.5 Dril Quip Inc.
- Exhibit 102: Dril Quip Inc. - Overview
- Exhibit 103: Dril Quip Inc. - Business segments
- Exhibit 104: Dril Quip Inc. - Key offerings
- Exhibit 105: Dril Quip Inc. - Segment focus
- 10.6 Eaton Corp. Plc
- Exhibit 106: Eaton Corp. Plc - Overview
- Exhibit 107: Eaton Corp. Plc - Business segments
- Exhibit 108: Eaton Corp. Plc - Key news
- Exhibit 109: Eaton Corp. Plc - Key offerings
- Exhibit 110: Eaton Corp. Plc - Segment focus
- 10.7 Halliburton Co.
- Exhibit 111: Halliburton Co. - Overview
- Exhibit 112: Halliburton Co. - Business segments
- Exhibit 113: Halliburton Co. - Key news
- Exhibit 114: Halliburton Co. - Key offerings
- Exhibit 115: Halliburton Co. - Segment focus
- 10.8 NOV Inc.
- Exhibit 116: NOV Inc. - Overview
- Exhibit 117: NOV Inc. - Business segments
- Exhibit 118: NOV Inc. - Key news
- Exhibit 119: NOV Inc. - Key offerings
- Exhibit 120: NOV Inc. - Segment focus
- 10.9 Oceaneering International Inc.
- Exhibit 121: Oceaneering International Inc. - Overview
- Exhibit 122: Oceaneering International Inc. - Business segments
- Exhibit 123: Oceaneering International Inc. - Key offerings
- Exhibit 124: Oceaneering International Inc. - Segment focus
- 10.10 Schlumberger Ltd.
- Exhibit 125: Schlumberger Ltd. - Overview
- Exhibit 126: Schlumberger Ltd. - Business segments
- Exhibit 127: Schlumberger Ltd. - Key offerings
- Exhibit 128: Schlumberger Ltd. - Segment focus
- 10.11 TechnipFMC plc
- Exhibit 129: TechnipFMC plc - Overview
- Exhibit 130: TechnipFMC plc - Business segments
- Exhibit 131: TechnipFMC plc - Key offerings
- Exhibit 132: TechnipFMC plc - Segment focus
- 10.12 Weatherford International Plc
- Exhibit 133: Weatherford International Plc - Overview
- Exhibit 134: Weatherford International Plc - Business segments
- Exhibit 135: Weatherford International Plc - Key news
- Exhibit 136: Weatherford International Plc - Key offerings
- Exhibit 137: Weatherford International Plc - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 138: Inclusions checklist
- Exhibit 139: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 140: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 141: Research methodology
- Exhibit 142: Validation techniques employed for market sizing
- Exhibit 143: Information sources
- 11.5 List of abbreviations
- Exhibit 144: List of abbreviations
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