North America Subsea Production and Processing System Market - Segmented by Production System Type, Processing System Type, and Geography – Growth, Trends, and Forecast (2020 - 2025)

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Low oil prices have forced the operators in North America to limit their offshore drilling activity. But with recovery in oil prices, the offshore activity is expected to gain momentum. Also, change in the policy of countries in the region is expected to attract more investments in offshore exploration and production activity. Increase in offshore upstream activity is expected to drive the market in the region, during the forecast period.

Low Breakeven Oil Prices and Oil Price Recovery to Drive the Market

The offshore rig count in North America has declined by more than 60%, during 2013-17, as a result of low oil prices. During the period, the offshore oil and gas producers focused on reducing the breakeven oil price. The offshore breakeven oil prices in the region have reduced significantly, mainly due to better process efficiency and cost savings through sustainable exercises, such as major changes in drilling strategy to optimize the production. With low breakeven oil prices and recovery in oil prices, the offshore activity in the region is expected to register significant growth, in turn, driving the market during the forecast period.


Growing Offshore Activity to Drive the Market in the US

In January 2018, the US government opened the offshore blocks for exploration & production activity, where the upstream operations were previously banned. The neighboring fields to these unexplored blocks have been developed, and hence, significant amount of field data is available, which reduces the uncertainties involved, and in turn, increases the likelihood of the commercial production from these blocks. The government’s policy to allow offshore exploration & production in these blocks is expected to drive the offshore upstream activity in the country. Additionally, as drilling activity was previously not allowed, the subsea oil & gas processing system infrastructure is not available in these blocks. Hence, after the start of the commercial production, heavy investments for the processing systems in these areas are expected to drive the market in the country.

Key Developments in the Market

  • March 2017: OneSubsea, a Schlumberger company, announced the awarding of a project by BP of an Engineering, Procurement, and Construction (EPC) contract to supply the subsea production system for the Mad Dog 2 development in the Gulf of Mexico.

MAJOR PLAYERS: Baker Hughes A GE Company, Schlumberger Limited, Halliburton Company, National OilWell Varco, Weatherford International Inc., Trendsetter Engineering, Aker Solutions, TechnipFMC PLC, Oceaneering International Inc., Drill-Quip Inc., among others.

Reasons to Purchase This Report

  • Current and future North America subsea production and processing system market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3 months analyst support, along with the Market Estimate sheet (in excel)

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1. Executive Summary                 

2. Research Methodology                          

3. Market Overview                      

              3.1 Introduction

              3.2 Market Size and Demand Forecast until 2023             

              3.3 Recent Trends and Developments    

              3.4 Government Policies and Regulations            

4. Market Dynamics                     

              4.1 Drivers         

              4.2 Restraints   

              4.3 Opportunities            

5. Value Chain Analysis               

6. Industry Attractiveness - Porter’s Five Force Analysis                             

              6.1 Bargaining Power of Suppliers          

              6.2 Bargaining Power of Consumers       

              6.3 Threat of New Entrants        

              6.4 Threat of Substitutes            

              6.5 Intensity Competitive Rivalry             

7. Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)                    

              7.1 By Production System          

                             7.1.1 Subsea Trees

                             7.1.2 Subsea Umbilicals, Risers, & Flowlines

                             7.1.3 Subsea Wellhead

                             7.1.4 Others

              7.2 By Processing System          

                             7.2.2 Boosting

                             7.2.2 Separation

                             7.2.3 Injection

                             7.2.4 Gas Compression

8. Regional Market Analysis (Overview, Market Size, and Demand Forecast until 2023)                       

              8.1 United States           

              8.2 Canada        

              8.3 Rest of North America          

9. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Development, and Analyst View)              

              9.1 Baker Hughes A GE Company            

              9.2 Schlumberger Limited          

              9.3 Halliburton Company            

              9.4 National OilWell Varco          

              9.5 Weatherford             

              9.6 Trendsetter Engineering       

              9.7 Aker Solutions          

              9.8 TechnipFMC PLC     

              9.9 Oceaneering International Inc.          

              9.10 Drill-Quip Inc.         

10. Competitive Landscape                      

              10.1 Mergers and Acquisitions  

              10.2 Joint Ventures, Collaborations, and Agreements     

              10.3 Strategies Adopted by Leading Players       

11. Appendix                   

              11.1 Contact Us

              11.2 Disclaimer

*List not Exhaustive                     

**Subject to availability to public domain

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