London, 31 October 2014 –According to research firm TechNavio, the Global Subsea Processing Market is expected to grow in tandem with rising global demand for oil and gas, projecting a CAGR of 18.5 percent from 2014-2018.
Governments worldwide are focusing on subsea processing technologies to increase their overall production, which will positively affect the market growth.
About the Report
The new report from TechNavio highlights the rapid advances in technology that have led to improved techniques for oil recovery from reservoirs. These technological advances include unlocking the potential of processing in harsh temperatures and pressures, boosting techniques through advanced booster pumps and gas injection for increased recovery.
“Market vendors are increasing their investment in R&D, in order to reduce the time and risks associated with processing technologies. The overall volume of production has increased, while cost and risk have been significantly reduced because of these advances,” says Faisal Ghaus, Vice President of TechNavio.
“Many vendors are investing in subsea processing systems to increase oil recovery and reduce fluid loss and oil leakage during the drilling process. They are also investing a huge amount of funds to reduce the adverse effects of drilling fluids on the marine environment, which is expected to boost investments in this sphere over the next few years.”
Key Information Covered in the Report:
Market segmentation, size and forecast through 2018
Market Growth Drivers:
- Increase in Global Oil and Gas Consumption
- For a full detailed list, view our report.
Market Challenges:
- Uncertainty Associated with Subsea Production
- For a full detailed list, view our report.
Market Trends:
- Rapid Advances in Technology
- For a full detailed list, view our report.
Key Vendors:
- Aker Solutions
- Cameron
- FMC Technologies Inc.
- GE Energy
Other Prominent Vendors:
- National Oilwell Varco
- Oceaneering International
- Transocean
- Vallourec
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
