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  5. > Subsea Production & Processing Systems Market by Technology/Components (Subsea Umbilicals, Risers, Flowlines, Trees, Control Modules, Manifolds), Types (Boosting, Injection, Separation, Compression), & Geography - Global Trends & Forecast to 2018

The offshore oil & gas market continues to grow at an increasing pace, as oil & gas operators continue to discover reserves in deeper water areas where subsea development is highly required to make the recovery economically viable. As such, the requirement for maintaining and boosting recovery rates from these subsea wells has increased and will continue to do so. As a result of this, need to maintain and boost production, subsea production, and processing systems is anticipated to play a key role in the future of the offshore oil & gas market.

The factors mentioned above drive the growth of the global subsea production and processing systems market. It is estimated to reach $24.6 billion by 2018, with a CAGR of 6.0% from 2013 to 2018. The increasing demand for energy is the major growth driver for this industry. This increased demand forces the oil & gas field operators to explore newer hydrocarbons reserves. These explorations of new reserves require a lot of drilling activities (that has increased by about 3.0% across the globe from 2011 to 2012) that in turn drive the growth of the subsea production and processing systems market.

The global subsea production systems market is segmented into four types of technologies/components. These are subsea umbilical risers & flowlines, subsea trees, control modules, and subsea manifolds. On the other side, the global subsea processing systems are used to increase and enhance the hydrocarbon production. The subsea processing systems are of four types, namely boosting, injection, separation, and compression. These systems are also termed as subsea pumping systems based upon its functionality.

The governmental rules and regulation policies related to the usage of different types of technologies into the subsea operations are getting stringent day-by-day, which increases the need for better and new technological innovations and increased efficiency of the production systems. The subsea production and processing systems market is dominated by a few leading industry players owing to their technological advantage, brand value, and strong financial positions. This trend is expected to continue over the next five years as well with the emergence of some small regional market players

Capital spending of the subsea has significantly increased that clearly depicts the growth of the subsea sector, globally. Subsea equipment such as umbilicals, risers & flowlines, subsea trees, and subsea control systems are required to develop the subsea infrastructure in order to cater the increased energy demand. Hence, subsea production and processing systems are quite essential in order to have an efficient subsea operation.

This report analyzes the subsea production and processing systems market by types of technologies of production systems & processing systems, and geography. In terms of geography, the report is segmented into North America, Asia-Pacific, Europe, Latin America, and Africa & Middle East. Each and every region is further studied based upon the different technologies used in production and processing systems market. The subsea production and processing systems markets included in this report are based on their value ($Million) and volume (no. of units/km). The market has been estimated from demand side. In order to provide a deeper understanding of the competitive landscape, the report profiles 23 companies in the subsea production and processing systems market that combines the original equipment manufacturers (OEMs), automation service provider companies, and operator/end user companies.

Table Of Contents

Subsea Production and Processing Systems Market by Technology/Components (Subsea Umbilicals, Risers, Flowlines, Trees, Control Modules, Manifolds), Types (Boosting, Injection, Separation, Compression), and Geography - Global Trends and Forecast to 2018
1 INTRODUCTION 18

1.1 KEY TAKE-AWAYS 18
1.2 ANALYST INSIGHTS 18
1.3 REPORT DESCRIPTION 20
1.4 MARKET DEFINITIONS 20
1.5 MARKET SEGMENTATION and ASPECTS COVERED 21
1.6 STAKEHOLDERS 21
1.7 RESEARCH METHODOLOGY 22
1.7.1 APPROACH 22
1.7.2 MARKET SIZE ESTIMATION 23
1.7.3 MARKET CRACKDOWN and DATA TRIANGULATION 25
1.7.4 KEY DATA POINTS TAKEN FROM SECONDARY SOURCES 27
1.7.5 KEY SECONDARY SOURCES USED 27
1.7.6 KEY DATA POINTS TAKEN FROM PRIMARY SOURCES 28
1.7.7 ASSUMPTIONS MADE FOR THIS REPORT 28

2 EXECUTIVE SUMMARY 30

3 MARKET OVERVIEW 32

3.1 INTRODUCTION 33
3.2 MARKET SEGMENTATION 35
3.2.1 SUBSEA PRODUCTION SYSTEMS 35
3.2.2 SUBSEA PROCESSING SYSTEMS 36
3.3 VALUE CHAIN ANALYSIS 37
3.3.1 ORIGINAL EQUIPMENT MANUFACTURERS/SUPPLIERS 38
3.3.2 SERVICE PROVIDERS/AUTOMATION COMPANIES 38
3.3.3 OIL FIELD OPERATORS 38
3.4 MARKET DYNAMICS 39
3.4.1 DRIVERS 39
3.4.1.1 Subsea Infrastructure Market Growth 39
3.4.1.2 Oil and Gas Production 40
3.4.1.3 Continuous Rise in Global Deep Water Drilling Activities 43
3.4.2 RESTRAINT 45
3.4.2.1 High Installation and Operational Risks 45
3.4.3 WINNING IMPERATIVE 45
3.4.3.1 Growing Demand of Subsea Well Intervention Operations Opens New Gates for Automation Companies 45
3.4.4 BURNING ISSUE 46
3.4.4.1 Lack of Technical Expertise 46
3.5 PORTER'S FIVE FORCES ANALYSIS 47
3.5.1 THREAT OF NEW ENTRANTS 48
3.5.2 THREAT OF SUBSTITUTES 49
3.5.3 SUPPLIERS' POWER 49
3.5.4 BUYERS' POWER 49
3.5.5 DEGREE OF COMPETITION 50

4 INDUSTRY ANALYSIS 51

4.1 RELATED MARKET 51
4.1.1 GLOBAL OFFSHORE DRILLING MARKET 51
4.2 SUBSEA MARKET INSIGHTS 53
4.2.1 PRESENT SCENARIO 53
4.2.1.1 Global Offshore Oil and Gas Production 53
4.2.1.1.1 Global Offshore Oil Production 53
4.2.1.1.2 Global Offshore Gas Production 54
4.2.1.2 Recent Deep Water Discoveries 56
4.2.1.2.1 North America 56
4.2.1.2.2 Latin America 57
4.2.1.2.3 Africa 58
4.2.1.2.4 Europe 59
4.2.1.2.5 Asia-Pacific 60
4.2.2 SUBSEA SCENARIO BY 2030 61
4.2.2.1 Top Influencing Events 61
4.2.2.1.1 Arctic region 61
4.2.2.1.2 Collaboration 62
4.2.2.1.3 Projects underway 62
4.2.2.1.3.1 ANADARKO 62
4.2.2.1.3.2 APACHE 62
4.2.2.1.3.3 CHEVRON 63
4.2.2.1.3.4 SHELL 63
4.2.2.1.3.5 TULLOW OIL/KOSMOS 63
4.2.2.1.3.6 NOBLE ENERGY 63
4.2.2.1.3.7 PETROBRAS 64
4.2.2.1.3.8 STATOIL 64
4.2.2.2 Technology Developments Expected 65
4.2.2.2.1 Arctic region 65
4.2.2.2.2 Key drivers for technology development 65
4.2.2.2.3 Upcoming technologies 66

5 SUBSEA PRODUCTION SYSTEMS MARKET, BY TECHNOLOGY/COMPONENT 67

5.1 INTRODUCTION 68
5.2 SUBSEA PRODUCTION SYSTEMS MARKET ANALYSIS 71
5.3 TECHNOLOGY/COMPONENT ANALYSIS 73
5.3.1 SUBSEA UMBILICALS, RISERS, and FLOWLINES (SURF) 73
5.3.1.1 Definition and Description 73
5.3.1.2 Market Analysis 74
5.3.1.3 By Geography Analysis 76
5.3.2 SUBSEA TREE 78
5.3.2.1 Definition and Description 78
5.3.2.2 Market Analysis, by geography 78
5.3.3 SUBSEA CONTROL MODULES 80
5.3.3.1 Definition and Description 80
5.3.3.2 Topside Equipment 82
5.3.3.2.1 Definition and description 82
5.3.3.2.2 Market analysis 83
5.3.3.3 Geography Analysis 84
5.3.4 SUBSEA MANIFOLDS 86
5.3.4.1 Definition and Description 86
5.3.4.2 Market Analysis, by geography 86

6 SUBSEA PRODUCTION SYSTEMS MARKET, BY GEOGRAPHY 89

6.1 INTRODUCTION 90
6.2 ANALYSIS OF SUBSEA PRODUCTION SYSTEMS MARKET 92
6.2.1 REVENUE and FORECAST 93
6.2.2 MARKET ANALYSIS OF REGIONS, BY TECHNOLOGY/COMPONENT 94
6.2.3 NORTH AMERICA 94
6.2.3.1 Industry Trend 94
6.2.3.2 Revenue Forecast 95
6.2.4 LATIN AMERICA 96
6.2.4.1 Industry Trend 96
6.2.4.2 Revenue Forecast 97
6.2.5 EUROPE 98
6.2.5.1 Industry Trend 98
6.2.5.2 Revenue Forecast 100
6.2.6 AFRICA and MIDDLE EAST 101
6.2.6.1 Industry Trend 101
6.2.6.2 Revenue Forecast 104
6.2.7 ASIA-PACIFIC 105
6.2.7.1 Industry Trend 105
6.2.7.2 Revenue Forecast 107

7 SUBSEA PROCESSING SYSTEMS: MARKET ANALYSIS 108

7.1 INTRODUCTION 109
7.2 GLOBAL OFFSHORE HYDROCARBON RESERVES 110
7.3 REVENUE ESTIMATES and FORECAST 112
7.4 MARKET ANALYSIS 113
7.4.1 SUBSEA BOOSTING SYSTEMS 113
7.4.2 SUBSEA SEPARATION SYSTEMS 117
7.4.3 SUBSEA INJECTION SYSTEMS 120
7.4.4 SUBSEA COMPRESSION SYSTEMS 122

8 COMPETITIVE LANDSCAPE 126

8.1 INTRODUCTION 127
8.2 KEY PLAYERS OF SUBSEA PRODUCTION and PROCESSING SYSTEMS MARKET 127
8.2.1 REGIONAL ANALYSIS 127
8.2.2 KEY COMPANIES' FOCUS AREA 128
8.2.2.1 Growth Strategies in the Global Subsea Production and Processing Systems Market 128
8.3 KEY TO SUCCESS IS JVS and CONTRACTS 129
8.4 MARKET SHARE ANALYSIS and RANKINGS 130
8.4.1 SUBSEA PRODUCTION SYSTEMS 130
8.4.1.1 Market Share Scenario 130
8.4.1.2 Market Rankings of the Industry Players 131
8.4.2 SUBSEA PROCESSING SYSTEMS 132
8.4.2.1 Market Rankings of the Industry Players 132
8.4.3 SUBSEA AUTOMATION 133
8.5 COMPETITIVE SITUATION and TRENDS 134
8.5.1 MERGERS and ACQUISITIONS 134
8.5.2 INVESTMENTS and EXPANSIONS 136
8.5.3 JOINT VENTURES and CONTRACTS 139
8.5.4 NEW PRODUCT LAUNCHES 154
8.5.5 CONTRACT AGREEMENTS 156

9 COMPANY PROFILES 162 (Overview, Financial*, Products and Services, Strategy, and Developments)

9.1 ABB 162
9.2 AIBEL AS 165
9.3 AKER SOLUTIONS 168
9.4 BORNEMANN 174
9.5 CAMERON 177
9.6 DRIL-QUIP INC. 182
9.7 FMC TECHNOLOGIES INC. 187
9.8 GENERAL ELECTRIC CO. 195
9.9 HELIX ENERGY SOLUTIONS GROUP INC. 202
9.10 ISLEBURN 205
9.11 KONGSBERG OIL and GAS TECHNOLOGIES AS 207
9.12 MAGNUM SUBSEA SYSTEMS PTE LTD. 211
9.13 NATIONAL OILWELL VARCO 213
9.14 NEXANS SA 216
9.15 OCEANEERING INTERNATIONAL INC. 220
9.16 PROSERV 224
9.17 PRYSMIAN GROUP 227
9.18 SIEMENS AG 231
9.19 SULZER 234
9.20 TECHNIP 236
9.21 TRANSICON LTD. 242
9.22 TRANSOCEAN LTD. 244
9.23 VALLOUREC 247
*Details might not be captured in case of unlisted companies.

LIST OF TABLES

TABLE 1 GLOBAL SUBSEA PRODUCTION and PROCESSING SYSTEMS MARKET,
BY TYPE, 2011-2018 ($MILLION) 31
TABLE 2 SUPPLY OF CRUDE OIL, BY GEOGRAPHY, 2007-2011, BBL/DAY (‘000) 41
TABLE 3 TOTAL OFFSHORE WELLS DRILLED, 2011-2012 44
TABLE 4 GLOBAL OFFSHORE DRILLING MARKET VALUE, BY SERVICES,
2011-2018 ($MILLION) 52
TABLE 5 U.S. GOM: RECENT DEEP WATER DISCOVERIES, 2011-2012 56
TABLE 6 LATIN AMERICA: RECENT DEEP WATER DISCOVERIES, 2011-2012 57
TABLE 7 AFRICA: RECENT DEEP WATER DISCOVERIES, 2011-2012 58
TABLE 8 EUROPE: RECENT DEEP WATER DISCOVERIES, 2011-2012 59
TABLE 9 ASIA-PACIFIC: RECENT DEEP WATER DISCOVERIES, 2011-2012 60
TABLE 10 SUBSEA PROJECTS: PRESENT VS PLANNED 61
TABLE 11 EXPECTED SUBSEA TECHNOLOGIES IN FUTURE 66
TABLE 12 GLOBAL OFFSHORE OIL PRODUCTION, BY WATER DEPTH, 2011-2018 (‘000 BBL) 68
TABLE 13 GLOBAL SUBSEA PRODUCTION SYSTEMS MARKET, BY TECHNOLOGY, 2011-2018 ($MILLION) 72
TABLE 14 GLOBAL SURF MARKET VALUE, BY TYPE, 2011-2018 ($MILLION) 74
TABLE 15 GLOBAL SURF MARKET VOLUME, BY TYPE, 2011-2018 (KM) 75
TABLE 16 GLOBAL SURF MARKET VALUE, BY GEOGRAPHY, 2011-2018 ($MILLION) 76
TABLE 17 GLOBAL SURF MARKET VOLUME, BY GEOGRAPHY, 2011-2018 (KM) 77
TABLE 18 GLOBAL SUBSEA TREES MARKET VALUE, BY GEOGRAPHY,
2011-2018 ($MILLION) 78
TABLE 19 GLOBAL SUBSEA TREES MARKET VOLUME, BY GEOGRAPHY,
2011-2018 (NO. OF UNITS) 79
TABLE 20 GLOBAL SUBSEA CONTROL MODULES MARKET VALUE, BY COMPONENT, 2011-2018 ($MILLION) 81
TABLE 21 GLOBAL TOPSIDE EQUIPMENT MARKET VALUE, BY TYPE,
2011-2018 ($MILLION) 83
TABLE 22 GLOBAL SUBSEA CONTROL MODULES MARKET VALUE, BY GEOGRAPHY, 2011-2018 ($MILLION) 84
TABLE 23 GLOBAL SUBSEA CONTROL MODULES MARKET VOLUME,
BY GEOGRAPHY, 2011-2018 (NO. OF UNITS) 85
TABLE 24 GLOBAL SUBSEA MANIFOLDS MARKET VALUE, BY GEOGRAPHY,
2011-2018 ($MILLION) 86
TABLE 25 GLOBAL SUBSEA MANIFOLDS MARKET VOLUME, BY GEOGRAPHY,
2011-2018 (NO. OF UNITS) 87
TABLE 26 OFFSHORE DRILLING ACTIVITIES, BY GEOGRAPHY,
2011-2012 (MILLION FEET) 91
TABLE 27 GLOBAL SUBSEA PRODUCTION SYSTEMS MARKET VALUE,
BY GEOGRAPHY, 2011-2018 ($MILLION) 93
TABLE 28 NORTH AMERICA: OFFSHORE WELLS DRILLED, BY COUNTRY,
2011-2013 94
TABLE 29 NORTH AMERICA: SUBSEA PRODUCTION SYSTEMS MARKET VALUE,
BY TECHNOLOGY, 2011-2018 ($MILLION) 95
TABLE 30 LATIN AMERICA: OFFSHORE WELLS DRILLED, BY COUNTRY, 2011-2013 96
TABLE 31 LATIN AMERICA: SUBSEA PRODUCTION SYSTEMS MARKET VALUE,
BY TECHNOLOGY, 2011-2018 ($MILLION) 97
TABLE 32 EUROPE: OFFSHORE WELLS DRILLED, BY COUNTRY, 2011-2013 99
TABLE 33 EUROPE: SUBSEA PRODUCTION SYSTEMS MARKET VALUE,
BY TECHNOLOGY, 2011-2018 ($MILLION) 100
TABLE 34 AFRICA: OFFSHORE WELLS DRILLED, BY COUNTRY, 2011-2013 102
TABLE 35 MIDDLE EAST: OFFSHORE WELLS DRILLED, BY COUNTRY, 2011-2013 103
TABLE 36 AFRICA and MIDDLE EAST: SUBSEA PRODUCTION SYSTEMS MARKET VALUE, BY TECHNOLOGY, 2011-2018 ($MILLION) 104
TABLE 37 ASIA-PACIFIC: OFFSHORE WELLS DRILLED, BY COUNTRY, 2011-2013 106
TABLE 38 ASIA-PACIFIC: SUBSEA PRODUCTION SYSTEMS MARKET VALUE,
BY TECHNOLOGY, 2011-2018 ($MILLION) 107
TABLE 39 WORLD OFFSHORE HYDROCARBON PROVEN RESERVES, BY REGION, (BILLION BOE) 110
TABLE 40 DISTRIBUTION OF WORLD OFFSHORE HYDROCARBON RESERVES,
BY WATER DEPTH (BILLION BOE) 111
TABLE 41 GLOBAL SUBSEA PROCESSING SYSTEMS MARKET, BY TECHNOLOGY, 2011-2018 ($MILLION) 112
TABLE 42 SUBSEA BOOSTING PROJECTS, BY FIELD and WATER DEPTH, 2010-2016 114
TABLE 43 SUBSEA BOOSTING PROJECTS AWARDED TILL DATE, BY REGION 115
TABLE 44 SUBSEA SEPARATION PROJECTS, BY FIELD and WATER DEPTH,
2010-2017 118
TABLE 45 SUBSEA SEPARATION PROJECTS AWARDED TILL DATE, BY REGION 120
TABLE 46 SUBSEA INJECTION PROJECTS, BY FIELD and WATER DEPTH, 2001-2013 121
TABLE 47 SUBSEA INJECTION PROJECTS AWARDED TILL DATE, BY REGION 122
TABLE 48 SUBSEA COMPRESSION PROJECTS, BY FIELD and WATER DEPTH,
2011-2021 123
TABLE 49 SUBSEA COMPRESSION PROJECTS AWARDED TILL DATE, BY REGION 125
TABLE 50 MERGERS and ACQUISITIONS, 2011-2013 135
TABLE 51 INVESTMENTS and EXPANSIONS, 2011-2013 137
TABLE 52 JOINT VENTURES and CONTRACTS, 2011-2013 140
TABLE 53 NEW PRODUCT LAUNCHES, 2011-2013 155
TABLE 54 CONTRACT AGREEMENTS, 2011-2013 157

LIST OF FIGURES

FIGURE 1 RESEARCH METHODOLOGY 23
FIGURE 2 DATA TRIANGULATION METHODOLOGY 26
FIGURE 3 SUBSEA PRODUCTION SYSTEMS, MARKET SHARE, BY COMPONENT, 2013 35
FIGURE 4 SUBSEA PRODUCTION SYSTEMS, MARKET SHARE, BY TECHNOLOGY, 2013 36
FIGURE 5 VALUE CHAIN ANALYSIS OF SUBSEA PRODUCTION AND PROCESSING SYSTEMS MARKET 37
FIGURE 6 CAPITAL SPENDING - SUBSEA MARKET, 2012-2018 ($MILLION) 39
FIGURE 7 CHANGE IN CRUDE OIL PRODUCTION, 2007-2011, BBL/DAY, (‘000) 42
FIGURE 8 SUBSEA PRODUCTION and PROCESSING SYSTEMS MARKET: PORTER'S ANALYSIS 48
FIGURE 9 GLOBAL OFFSHORE OIL PRODUCTION, BY GEOGRAPHY, 2012 (MILLION BARRELS PER DAY) 54
FIGURE 10 GLOBAL OFFSHORE GAS PRODUCTION, BY GEOGRAPHY, 2012 (BILLION CUBIC FEET PER DAY) 55
FIGURE 11 SUBSEA PRODUCTION SYSTEMS, MARKET SHARE, 2012-2013 70
FIGURE 12 GLOBAL SUBSEA PRODUCTION SYSTEMS MARKET,
2011-2018 ($BILLION) 71
FIGURE 13 GLOBAL SUBSEA PRODUCTION SYSTEMS MARKET SHARE,
BY GEOGRAPHY, 2012 92
FIGURE 14 GLOBAL SUBSEA BOOSTING PROJECTS, BY WATER DEPTH (1994-2016) 116
FIGURE 15 GLOBAL SUBSEA BOOSTING PROJECTS, BY REGION (1994-2016) 117
FIGURE 16 GLOBAL SUBSEA SEPARATION PROJECTS, BY WATER DEPTH (2001-2017) 119
FIGURE 17 GLOBAL SUBSEA GAS COMPRESSION PROJECTS, BY WATER DEPTH (2014-2022) 124
FIGURE 18 SUBSEA PRODUCTION and PROCESSING SYSTEMS MARKET, GROWTH STRATEGIES, 2011-2013 128
FIGURE 19 SUBSEA PRODUCTION SYSTEMS MARKET SHARE: TOP 5 COMPANIES VS OTHERS, 2012 130
FIGURE 20 SUBSEA PRODUCTION SYSTEMS: MARKET SHARE ANALYSIS,
BY COMPANY, 2013 131
FIGURE 21 SUBSEA PROCESSING SYSTEMS: MARKET SHARE ANALYSIS,
BY COMPANY, 2013 132
FIGURE 22 SUBSEA PROCESSING SYSTEMS: MARKET SHARE ANALYSIS,
BY COMPANY, 2013 133
FIGURE 23 MERGERS and ACQUISITIONS, 2011-2013 134
FIGURE 24 INVESTMENTS and EXPANSIONS, 2011-2013 137
FIGURE 25 JOINT VENTURES and CONTRACTS, 2011-2013 140
FIGURE 26 NEW PRODUCT LAUNCHES, 2011-2013 154
FIGURE 27 CONTRACT AGREEMENTS, 2011-2013 156

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