Subsea Tree Market: Overview

  • Subsea tree is a configuration of complex valves and components equipped at the wellhead to control and monitor production flow, and regulate gas or fluids injection. It has become an essential building block of offshore installations. It ensures safe and reliable drilling operations,
  • Subsea trees are controlled and monitored with the help of umbilicals suspended in a catenary shape and protected at the splash zones via tubes fixed to the structure
  • Subsea tree primarily aims to control the flow and injection of chemical & water. It also aims to monitor pressure, temperature, corrosion, valve and choke position feedback, and connection points for devices such as down-hole pressure and temperature transducers.
  • The subsea constitutes two types of subsea trees: horizontal and vertical. In a horizontal subsea tree, a tubing hanger is installed in the tree body instead of the wellhead. On the other hand, master valves are configured above the tubing hanger in a vertical subsea tree.

Key Drivers of Global Subsea Tree Market

  • Rise in offshore drilling activities due to the increase in demand for oil & gas across the globe is likely to drive the subsea tree market. Rapid industrialization and globalization is also anticipated to boost the demand for oil and gas from various end-users.
  • Rise in exploration and new discovery of oil & gas deposits in deep and ultra-deep water are propelling the subsea tree market. The recent discovery by BP of more than 1 billion barrels of oil in its Thunder Horse field in the Gulf of Mexico is expected to lead to exploration and drilling operations spanning several years.

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Key Developments

  • On April 27, 2018, TechnipFMC plc launched Subsea 2.0 at Offshore Technology Conference, Houston. The Subsea 2.0 is a revolutionary product platform that makes subsea projects simpler, leaner, and smarter. It is made up of six core products designed by combining field-proven and new technologies. The core products comprise compact manifold, flexible jumpers, compact tree, horizontal connectors, and distribution controls. These products are lighter, smaller, and can achieve up to a 50% reduction in size, weight, and part count, without compromising the overall functionality.
  • On September 3, 2019, Aker Solutions introduced an intelligent subsea to accelerate offshore developments and maximize performance. The company has simplified, standardized, and minimized the size of equipment. The new optimized and modular subsea equipment can reduce engineering hours by up to 70%.

North America Expected to Hold Major Share of Global Subsea Tree Market

  • Based on region, the global subsea tree market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America dominated the global subsea tree market in 2018. The trend is projected to continue during the forecast period owing to the discovery of shale gas reserves in the U.S. and presence of large number of private oil companies in the region.
  • Europe is anticipated to account for key share of the global subsea tree market during the forecast period. The North Sea has large number of installed offshore rigs.
  • The market in Asia Pacific is estimated to expand at a healthy pace owing to the rise in offshore exploration activities and increase in investments in energy generation activities
  • Middle East & Africa has significant oil onshore and offshore reserves. Offshore discoveries and development, particularly in the Red Sea region, by countries such as Qatar, the UAE, and Saudi Arabia are anticipated to drive the subsea tree market in the region.
  • The market in Latin America is projected to expand at a sluggish pace during the forecast period

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Key Players Operating in Subsea Tree Market

Leading companies operating in the subsea tree market include:

  • Baker Hughes Company
  • TechnipFMC plc
  • Aker Solutions
  • Schlumberger Limited
  • Solar Alert Sdn Bhd.
  • DELTA CORP LTD
  • Worldwide Oilfield Machine.
  • The Weir Group PLC
  • Dril-Quip, Inc.
  • Kingsa Industries (USA), Inc.

Global Subsea Tree Market: Research Scope

Global Subsea Tree Market, by Type

  • Horizontal Subsea Tree
  • Vertical Subsea Tree

Global Subsea Tree Market, by Water Depth

  • Shallow
  • Medium
  • Deepwater

Global Subsea Tree Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Australia
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Venezuela
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Nigeria
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • 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 study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

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?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

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?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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