Market Overview:
The global subsea penetrator market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for subsea penetrators in oil and gas exploration and production activities, especially in deepwater and ultra-deepwater regions. In addition, the increasing demand for subsea penetrators from the OEM segment is also contributing to the growth of this market. Based on type, electrical subsea penetrators are expected to account for a major share of the global market during the forecast period. This can be attributed to their high reliability and low maintenance requirements as compared with other types of subsea penetrators.
Product Definition:
A subsea penetrator is a device used to perforate the seabed in order to install or remove pipelines, cables, and other underwater infrastructure. The use of a subsea penetrator is often more efficient and less expensive than traditional methods such as dredging or drilling.
Electrical:
Electrical is the heart of any subsea system. It provides power to all other systems and components in a well. Electrical equipment installed in a subsea system includes downhole tools, production & flow monitoring instruments, topside control devices, and safety devices.
Optical:
Optical is a technology that uses light to transmit information. It can be used for communication, detection, measurement, and imaging applications. Optical fibers are flexible transparent cables made up of high-quality glass or plastic that functions like a conductor of light. They are widely used in the telecommunication industry owing to its benefits such as flexibility and low cost compared to traditional wire based transmission systems.
Application Insights:
OEMs held the largest market share in 2016, with a penetration rate of over 90%. The high penetration is attributable to the use of OEMs for manufacturing products that are required to be installed by hand. Moreover, aftermarket also has a significant market share owing to the rising demand for replacing worn-out equipment and maintaining operational efficiency.
The others segment includes hydraulic subsea penetrators and mechanical subsea tools. The major application areas include pre-drilling activities, well intervention operations and production wells completion operations. In addition, post-completion operations such as formation testing are also expected to contribute significantly towards growth during the forecast period due to an increase in oil & gas exploration activities globally over recent years.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing offshore drilling activities in countries, such as China and India. In addition, rising demand for natural gas from various end-use industries is anticipated to drive product demand in this region.
The Middle East & Africa accounted for a significant share of global subsea penetrators market revenue owing to increased oil & gas exploration activities across major economies including Saudi Arabia and UAE. Moreover, growing offshore drilling activities are likely to boost product penetration in this region over the next eight years.
North America was estimated as one of the largest regional markets with U.S., Canada, and Mexico being among top five crude producers globally along with Iraq Kuwait, Nigeria Iran (2016).
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization in developing countries
- Rising investment in subsea infrastructure development
- Proliferation of new deepwater exploration and production projects
- Development of advanced technologies for subsea well intervention and production enhancement
- Growing focus on cost-effective production from mature fields
Scope Of The Report
Report Attributes
Report Details
Report Title
Subsea Penetrator Market Research Report
By Type
Electrical, Optical, Others
By Application
OEM, Aftermarket
By Companies
TE Connectivity, Teledyne Marine, MacArtney AS, Birns, C R Encapsulation, Blue Robotics, GISMA Steckverbinder, Scientific Management International, Hydro Group, Eaton, AMETEK ECP, RMSpumptools
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
204
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Subsea Penetrator Market Report Segments:
The global Subsea Penetrator market is segmented on the basis of:
Types
Electrical, Optical, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
OEM, Aftermarket
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- TE Connectivity
- Teledyne Marine
- MacArtney AS
- Birns
- C R Encapsulation
- Blue Robotics
- GISMA Steckverbinder
- Scientific Management International
- Hydro Group
- Eaton
- AMETEK ECP
- RMSpumptools
Highlights of The Subsea Penetrator Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electrical
- Optical
- Others
- By Application:
- OEM
- Aftermarket
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Subsea Penetrator Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A subsea penetrator is a type of drill used to extract oil and gas from the earth's surface.
Some of the major companies in the subsea penetrator market are TE Connectivity, Teledyne Marine, MacArtney AS, Birns, C R Encapsulation, Blue Robotics, GISMA Steckverbinder, Scientific Management International, Hydro Group, Eaton, AMETEK ECP, RMSpumptools.
The subsea penetrator market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Subsea Penetrator Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Subsea Penetrator Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Subsea Penetrator Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Subsea Penetrator Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Subsea Penetrator Market Size & Forecast, 2020-2028
4.5.1 Subsea Penetrator Market Size and Y-o-Y Growth
4.5.2 Subsea Penetrator Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Electrical
5.2.2 Optical
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 OEM
6.2.2 Aftermarket
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Subsea Penetrator Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Subsea Penetrator Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Electrical
9.6.2 Optical
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 OEM
9.10.2 Aftermarket
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Electrical
10.6.2 Optical
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 OEM
10.10.2 Aftermarket
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Electrical
11.6.2 Optical
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 OEM
11.10.2 Aftermarket
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Electrical
12.6.2 Optical
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 OEM
12.10.2 Aftermarket
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Electrical
13.6.2 Optical
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 OEM
13.10.2 Aftermarket
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Subsea Penetrator Market: Competitive Dashboard
14.2 Global Subsea Penetrator Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 TE Connectivity
14.3.2 Teledyne Marine
14.3.3 MacArtney AS
14.3.4 Birns
14.3.5 C R Encapsulation
14.3.6 Blue Robotics
14.3.7 GISMA Steckverbinder
14.3.8 Scientific Management International
14.3.9 Hydro Group
14.3.10 Eaton
14.3.11 AMETEK ECP
14.3.12 RMSpumptools
