About subsea well access
Subsea well access is an equipment used to ensure that subsea drilling and intervention activities are carried out efficiently. It is used to ensure the safe and reliable production from the field as the operators face increasing need for enhanced recovery rates and to extend exploration activities into the deeper and harsher territories.
TechNavio's analysts forecast the global subsea well access market to grow at a CAGR of 5.9% over the period 2014-2019.
Covered in this report
The report covers the present scenario and the growth prospects of the global subsea well access market for the period 2015-2019. The market can be segmented into two based on product type: rig-based and riserless well access systems.
TechNavio's report, the Global Subsea Well Access Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and EMEA; it also covers the global subsea well access market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Subsea Well Access Market 2015-2019
Technavio recognizes the following companies as the key players in Global Subsea Well Access Market 2015-2019: Aker Solutions, Cameron International, FMC Technologies, National Oilwell Varco and Weatherford International Limited
Other Prominent Vendors in the market are: Proserve, Rongsheng Machinery Manufacture and Uztel
Commenting on the report, an analyst from Technavio’s team said: “Technological innovations not only increase the production capacity of the wells but also help in maintaining the ecology of the excavation area. The key vendors of the global well intervention services market have been investing heavily in their R&D to develop their process innovation. Riserless light-well intervention technique has been a great innovation in recent years and promises to change the market dynamics considerably during the forecast period.”
According to the report, the global oil and gas consumption has seen a marked increase worldwide. The shift in focus toward offshore production favors market growth because of increased requirements for well interventions.
Further, the report states that the capital-intensive nature of the subsea well access equipment because of high technical expertise and complex procedures hinders the market growth.
Aker Solutions, Cameron International, FMC Technologies, National Oilwell Varco, Weatherford International Limited, Proserve, Rongsheng Machinery Manufacture, Uztel