Subsea Well Access and Blowout Preventer (BOP) System Market worth $10 Billion by 2019

Subsea Well Access and Blowout Preventer (BOP) System Market worth $10 Billion
                                   by 2019

  PR Newswire

  DALLAS, April 28, 2014

DALLAS, April 28, 2014 /PRNewswire/ --

The report "Subsea Well Access and BOP System Market by Type [Well Access
System Type (Riserbased WAS and Riserless WAS) and BOP Type (Annular BOP and
RAM Type BOP)] and Geography - Global Trends & Forecasts to 2019", defines and
segments the global well access and BOP market with analysis and forecasts of
the global revenue. The global subsea well access market is estimated to grow
from over $3.2 Billion in 2014 to nearly $4.1 Billion by 2019, at a CAGR of
over 5.1%. The global BOP market is estimated to grow over $3.9 Billion in
2014 to nearly $5.8 Billion by 2019, at a CAGR of over 7.7%.

Browse more than 68 market data tables with 44 figures spread through 187
pages and in-depth TOC on "Subsea Well Access and BOP System Market - Global
Trends & Forecasts to 2019".

http://www.marketsandmarkets.com/Market-Reports/subsea-well-access-bop-system-market-231420747.html

Early buyers will receive 10% customization on this report.

Increased subsea drilling activities and requirement for efficient oil and gas
production drive the need for equipment like subsea well access and BOP
systems. The demand for hydrocarbons escalates drilling activities, which
sequentially lead to higher demand for equipment like drilling rigs and BOP.
Efficient oil and gas production on subsea wells is very important in order to
optimize cost and expenditure. Well access system plays a very important role
for the optimization of cost. Rising safety regulations and attention towards
higher production efficiency plays a key role in the growth of well access and
BOP systems.

Currently Europe is the largest market for subsea well access systems with
largest number of subsea wells eligible for intervention. This market is
growing at a very high growth rate and will maintain its statues until 2019.
South America holds the second position in the market; however, Africa will
replace it by 2019. The rising need for production efficiency in order to
maximize oil and gas production is resulting in enlarged well intervention
demand. Subsequently, an amplified demand for the well access system is being
expected with mounting well intervention demand.

Strict and stringent safety regulations are being imposed in subsea drilling
activities due to high risk of unusual accidents. One of such accidents is BP
Plc.'s Macondo well's explosive blowouts due to the failure of BOP. Subsea
drilling operators are emphasizing more on safety equipment such as BOP, in
order to maximize safety and operational efficiency. The demand of BOP is
increasing with rising safety concerns as most current modern rigs are loaded
with additional BOPs to provide extra safety. Asia-Pacific is currently
dominating the BOP market followed by the Middle East, and North America.
Africa, Europe, and South America are the emerging markets for BOP. The golden
triangle of Brazil, the U.S., Gulf of Mexico, and West Africa, which have
large-scale offshore drilling activities are some of the key markets for BOP.

The Subsea Well Access and Blowout Preventer (BOP) System Market report
analyzes and projects the subsea well access and BOP system market by type,
and geography. The well access market by type includes riser based well access
system, which can further be classified as completion work over riser system,
landing string system, and through tube rotary drilling system, and riser less
well access system (also known as riser less light well intervention system).
The subsea BOP market by type includes Annular BOP market and RAM type BOP
market. The market by geography includes Asia-Pacific, Europe, Africa, the
Middle East, North America, and South America.

The report also includes market share, supply chain and value chain analyses,
Porters five force analysis, and market metrics such as drivers, restraints,
burning issues, winning imperative, and opportunities. In addition, it
presents a competitive landscape and company profiles of 10 key players in the
market that include major companies, which provide well access system and BOP
equipment manufacturers.

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