Transparency Market Research (TMR) provides key insights on the subsea compression market in its latest report titled “Subsea Compression Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, increase in number of drilling activities and mature reserves is predicted to drive the subsea compression market during the forecast period.
Subsea compression addresses the declining natural gas reservoir pressure by offering an attractive combination of both economic and environmental benefits. Subsea compression can be considered as a technology for recovering increased volumes from beginning of the projects and at a later stage of the field life. Such type of system has gained popularity across the globe owing to the large number of deep water projects in remote locations. Mergers, acquisitions and partnership would help subsea equipment suppliers to penetrate global subsea compressor market. Subsea compression systems also eliminates the need for a new submersible platform with heavy weights. Subsea compression will provide far reaching HSE benefits to subsea gas developments.
The restraining factors of the subsea compression market include large numbers of technical and capital intensive risks associated with exploration and production activities that can hinder the growth of the subsea compressor market. Ample opportunities are there for subsea compressor market owing to the discoveries of large numbers of shale gas reserves throughout the world. According to an estimate China accounts for large number of reserves as compared to the U.S.
Some of the prominent players operating in the subsea compressor market are included in this report and these are Aker Solutions, OneSubsea, Dresser-Rand, SKF Group, Siemens AG, FMC Technologies, Inc., Vallourec S.A., Cameron International Corporation, National Oilwell Varco and GE Oil & Gas among others.
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