The analysts forecast global subsea processing system market to grow at a CAGR of 3.13% during the period 2018-2022. One trend in the market is ERD Technologies.
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The use of extended reach drilling (ERD) technology in the current oil and gas scenario is not economically feasible. However, the real situation is quite the opposite, as using this technology is about the economics and the demanding market conditions.
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In the last two years of low crude oil prices, operators have adopted these technologies, which has made the overall project commercially viable. This is because the benefits from this technology are for the long-term projects.
This subsea processing system market report covers the present scenario and the growth prospects of the global subsea processing system market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
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Major key players in the global subsea processing system market: Aker Solutions, GENERAL ELECTRIC, National Oilwell Varco, Schlumberger, and TechnipFMC, Forum Energy Technologies, ITT, Halliburton, Leistritz Advanced Technologies, MAN, Saipem, Siemens, SPX FLOW, SUBSEA 7, and Weatherford.
According to the subsea processing system market report, one driver in the market is growth in the number of deep and ultra-deepwater drilling projects. Deep and ultra-giggp,projects have gradually started resuming operations with the gradual stabilization of the crude oil prices.
The growing focus of oil majors on operational improvements has resulted in a reduction in the CAPEX and OPEX, which, in turn, has reduced the breakeven value for crude oil production. This translates into the oil companies better sustaining in the market at the current oil price of around $56/01 as of September 2017.
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Few Points from List of Exhibits:
Exhibit 01: Major Segments of Oil and Gas Industry
Exhibit 02: Parent Market
Exhibit 03: Global Oilfield Services Market
Exhibit 04: Market Characteristics
Exhibit 05: Market Segments
Exhibit 06: Market Definition - Inclusions and Exclusions Checklist
Exhibit 07: Market Size 2017
Exhibit 08: Validation Techniques Employed For Market Sizing 2017
Exhibit 09: Global Market Size and Forecast 2017-2022 ($ Millions)
Exhibit 10: Global Year-Over-Year Growth 2018-2022 (%)
Exhibit 11: Stages of Petroleum Upstream Activities
Exhibit 12: Reasons For Low Crude Oil Prices
Exhibit 13: Five Forces Analysis 2017
Exhibit 14: Five Forces Analysis 2022
Exhibit 15: Bargaining Power of Buyers
Exhibit 16: Bargaining Power of Suppliers
Exhibit 17: Threat of New Entrants
Exhibit 18: Threat of Substitutes
Exhibit 19: Threat of Rivalry
Exhibit 20: Market Condition - Five Forces 2017