LONDON--(BUSINESS WIRE)--Technavio has been monitoring the subsea well access and blowout preventer system market and it is poised to grow by $ 2.85 bn during 2020-2024, progressing at a CAGR of about 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aker Solutions ASA, Baker Hughes a GE Co., Dril-Quip Inc., Eaton Corp. Plc, Halliburton Co., National Oilwell Varco Inc., Oceaneering International Inc., Schlumberger Ltd., TechnipFMC Plc, and Weatherford International Plc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The rise in deepwater and ultra-deepwater E&P activities has been instrumental in driving the growth of the market. However, fluctuations in the price of crude oil might hamper the market growth.
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Subsea Well Access and Blowout Preventer System Market 2020-2024: Segmentation
Subsea Well Access and Blowout Preventer System Market is segmented as below:
- Subsea BOP
- Subsea WAS
- North America
- South America
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Subsea Well Access and Blowout Preventer System Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our subsea well access and blowout preventer system market report covers the following areas:
- Subsea Well Access and Blowout Preventer System Market Size
- Subsea Well Access and Blowout Preventer System Market Trends
- Subsea Well Access and Blowout Preventer System Market Industry Analysis
This study identifies the growing demand for oil and natural gas as one of the prime reasons driving the subsea well access and blowout preventer system market growth during the next few years.
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Subsea Well Access and Blowout Preventer System Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist subsea well access and blowout preventer system market growth during the next five years
- Estimation of the subsea well access and blowout preventer system market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the subsea well access and blowout preventer system market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of subsea well access and blowout preventer system market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Subsea BOP - Market size and forecast 2019-2024
- Subsea WAS - Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- MEA - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendor Analysis
- Market positioning of vendors
- Aker Solutions ASA
- Baker Hughes, a GE Co.
- Dril-Quip Inc.
- Eaton Corp. Plc
- Halliburton Co.
- National Oilwell Varco Inc.
- Oceaneering International Inc.
- Schlumberger Ltd.
- TechnipFMC Plc
- Weatherford International Plc
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.