Top 3 Drivers of the Global Subsea Processing Systems Market | Technavio

January 24, 2018

LONDON–(BUSINESS WIRE)–#OilandGas—Technavio
market research analysts forecast the global
subsea processing systems market 2018-2022 to grow at a CAGR of
over 3% during the forecast period, according to their latest report.

This market research report segments the global cellular M2M module
market by technology (boosting, separation, injection, and compression)
and by geography (the Americas, APAC, and EMEA).

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In this report, Technavio analysts highlight the following three market
drivers that are contributing to the growth of the global subsea
processing systems market:

Increasing benefits of subsea processing system
Growth in the number of deep and ultra-deepwater drilling projects
Rising global oil and gas consumption

Increasing benefits of subsea processing systems

Subsea processing involves the separation of produced fluids into oil,
gas, and water. Subsea
processing systems provide greater pressure drawdown, which
results in higher production rates along with enhanced oil and gas
recovery. As the separation of produced fluids is facilitated on the
seabed itself, it allows the liquid to be pressure-boosted with an
efficient conventional mechanical pump. Therefore, the production can be
moved to deeper waters, especially the low-pressure reservoirs in
deepwater.

According to a senior analyst at Technavio for research on oil
and gas, “With growing benefits of subsea processing,
oilfield companies are increasing their reliance on these systems, which
reduces their capital investment and challenges faced during the
production of hydrocarbons from the offshore segment. This is likely to
strengthen the market for subsea processing systems.”

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Global subsea processing systems market
segmentation

Of the four technology applications, the boosting segment held the
largest market share in 2017, accounting for over 48% of the market. The
market share for this application is expected to witness a small but
steady decrease over the forecast period. The fastest growing technology
segments are the injection segment, which will account for 11% of the
total market share by 2022.

EMEA was the leading region for the global subsea processing systems
market in 2017, accounting for a market share of over 41%. However, by
2022, the market share of APAC is expected to fall by 0.6% by 2022,
while the market share of the Americas is expected to witness a gradual
increase over the forecast period.

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