Europe to lead Subsea Production Systems Market in the Oil & Gas Equipment & Services Industry|Technavio

NEW YORK, June 25, 2021 /PRNewswire/ — Europe is expected to lead the subsea production systems market with 29% of…

NEW YORK, June 25, 2021 /PRNewswire/ — Europe is expected to lead the subsea production systems market with 29% of the market’s growth contribution during 2020-2024. Norway and UK are the key markets for subsea production systems in Europe and are expected to offer several growth opportunities to market vendors during the forecast period, says Technavio, a leading market research company.

Technavio offers an up-to-date analysis regarding the current global market scenario and the overall market environment.

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Technavio’s report on «Subsea Production Systems Market by Equipment Type and Geography – Forecast and Analysis 2020-2024» reveals that the market has the potential to reach USD 1.00 billion, progressing at a CAGR of almost 3%.

Leading Regional Analysis of Subsea Production Systems Market 2020-2024:

Technavio identifies APAC as the second-highest country, where the subsea production systems market will have the potential to reach USD 1.85 billion by 2024. Factors such as increasing energy demands from India, China, Japan, South Korea, and Indonesia and several offshore projects will increase the demand for the subsea production systems market in APAC during the forecast period.

North America will be the third-highest country, where the subsea production systems market will have the potential to reach USD 1.50 billion by 2024. Factors such as the increase in offshore oil and gas investments and subsea oil and gas projects are likely to drive the subsea production systems market in North America during the forecast period.

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Subsea Production Systems Market in the Oil & Gas Equipment & Services Industry  during 2020-2024: Vendor Analysis and Scope

To help businesses improve their market position, the subsea production systems market report provide a detailed analysis of around 25 vendors operating in the market. Some of these vendors include Aker Solutions ASA, Dril-Quip Inc., General Electric Co., Halliburton Co., National Oilwell Varco Inc., Nexans SA, Prysmian Spa, Schlumberger Ltd., Siemens AG, and TechnipFMC Plc.

The report also covers the following areas:

  • Subsea Production Systems Market Size
  • Subsea Production Systems Market Trends
  • Subsea Production Systems Market Analysis

Key Topics Covered

  • Executive Summary
  • Market Landscape
  • Market Sizing
  • Five Forces Analysis
  • Market Segmentation by Equipment type
  • Market Segmentation by Geography
  • Customer landscape
  • Geographic Landscape
  • Vendor Landscape
  • Vendor Analysis
  • Appendix

Related Report on Energy Include:

Global Subsea Manifolds Market– The subsea manifolds market is segmented by application (production and injection) and geography (Europe, APAC, North America, MEA, and South America).

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Global Offshore Drilling Market– The offshore drilling market is segmented by application (shallow water, deepwater, and ultra-deepwater) and geography (North America, APAC, Europe, MEA, and South America).

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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