Global Subsea Compressor Market: Overview
In an offshore oil and gas sector, production equipment are placed as near as possible to the hydrocarbon reservoir. With technological advancements and vast research and development activities, new resources are being discovered in deeper waters, challenging climatic conditions, and remote places. Hence, the need for new technologies arise that can open new and matured sources of energy. Thus, to overcome this challenge, one the most promising technology is subsea gas compression. A new remote gas field or a depleted gas reservoir, subsea gas compression can enhance the life of the field, thereby increasing the revenue.
Subsea production systems are considered to be an important part of offshore developments. Offshore exploration and production activities are fuelling the demand for subsea equipment globally. Reservoir pressure in producing gas fields is declining over the period of time causing the natural gas output to fall. For exploration and production activities to be economical, gas pressure must be raised to maximize the natural gas production. Subsea process can supply separation and compression capabilities to deliver natural gas to onshore processing facilities to enhance the production of crude oil and natural gas from subsea wells. Subsea compression is a cost-effective method for the gas fields which require pressure boosting. Reliable subsea compression is a key to push subsea production from marginal to deep-water fields. The subsea compression provides large number of benefits as compared to that of installing a new platform including capital expenditure and operating expenditure.
The subsea compression unit must operate continuously with maintenance free operation for years. Subsea compressor is an energy efficient solution in comparison with topside compressors for as they work close to the well. Overall power requirement for subsea compressor vary from few KW to tens of MW. As compressor maintain flow rate of gas above the specified hydraulic limit, large quantities of hydrocarbons can be easily recovered from the reservoir. Subsea compression systems depends on numerous factors such as tieback distance, the type of reservoir, water depth, and type of production systems. One of the driving forces in the subsea compressor market is the reduction in development cost as compared to the traditional method.
Subsea compression addresses the declining natural gas reservoir pressure by offering an attractive combination of both economic and environmental benefits. Subsea compression can be considered as a technology for recovering increased volumes from beginning of the projects and at a later stage of the field life. Such type of system has gained popularity across the globe owing to the large number of deep water projects in remote locations. Mergers, acquisitions and partnership would help subsea equipment suppliers to penetrate global subsea compressor market. Subsea compression systems also eliminates the need for a new submersible platform with heavy weights. Subsea compression will provide far reaching HSE benefits to subsea gas developments.
Increase in number of drilling activities and mature reserves are some of the key drivers of the subsea compressor market. However, large numbers of technical and capital intensive risks associated with exploration and production activities can hinder the growth of the subsea compressor market. Ample opportunities are there for subsea compressor market owing to the discoveries of large numbers of shale gas reserves throughout the world. According to an estimate China accounts for large number of reserves as compared to the U.S.
Global Subsea Compressor Market: Key Players
Some of the key players in the subsea compressor market are Aker Solutions, OneSubsea, Dresser-Rand, SKF Group, Siemens AG, FMC Technologies, Inc., Vallourec S.A., Cameron International Corporation, National Oilwell Varco and GE Oil & Gas among others.
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Below is a snapshot of these quadrants.
1. Customer Experience Map
2. Insights and Tools
3. Actionable Results
4. Strategic Frameworks
1. What can be the best investment choices for venturing into new product and service lines?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.