The
global subsea valves market is expected to grow owning to the
increasing offshore oil and gas and subsea projects. Increasing
energy demand coupled with declining onshore reserves has forced oil
and gas exploration and production companies to increase investment
and activities in offshore reserves which, accelerate the demand for
subsea valves across the globe during the forecast period.
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Subsea
valves are used in various oil and gas exploration and production
process across the globe.Subsea valves should be able to withstand
all fluids that pass through them. These valves are used in marine
environments ranging from a depth from shallow to deep and ultra deep
water. The size of valve specified is related to the volume of fluids
that need to flow through it. The oil and gas industry is hazardous
in nature. Hence, it is governed with various stringent regulations.
The equipment used in subsea systems are very expensive, moreover any
mishap can lead to environmental degradation and loss of produced
fluids and delay in operations. This ultimately effects the earnings
of a company. Hence, the valve used for the process should be able to
withstand the harsh subsea conditions for safe and reliable
operations. The type of valve to be used in a project is
predetermined by operator engineers in the planning phase of the
project. Then the company place order for valves with specification
to the supplier.
The
global subsea valve market can be segmented on the basis of product
type and geography.Various types of subsea valves are used such as
subsea ball valve, subsea check valve, subsea gate valve, subsea
needle valve and others. A subsea ball valve provides the user with a
soft seating quarter turn isolation solution. The valve can be used
for isolation of chemical and hydraulic fluids. Subsea needle valves
are normally used on christmas trees to isolate gasket test lines and
downhole safety valve lines.Subsea gate valves are of various types:
rotator gate valves, hydraulic actuated gate valves and manually
actuated gate valves (ROV). These valves are suitable for high
pressure and high temperature conditions.The use of high pressure and
high temperature valves are mainly concentrated in the North Sea and
the Gulf of Mexico due to harsh climate conditions. However, these
valves also find application in some projects in Asia Pacific.There
are several new exploration and production projects planned in
regions such as West Africa and Brazil. Majority of investments in
the offshore oil and gas industry is in these two regions.
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Increasing
investment in deep and ultra deep reserves to fulfill the increasing
energy demand and to reduce reliance on onshore reserves, the global
offshore oil and gas industry is expected to grow in the forecast
period. This will accelerate the growth of various associated
industry such as subsea processing systems and subsea valves.
Abundant untapped offshore deep and ultra deep water reserves are
expected to provide a great opportunity to the company in the coming
year. However, unstable crude oil prices which make certain projects
economically non-feasible are expected to hamper the global subsea
valves market between 2015 and 2023.
Some
of the key players in the global subsea valvesmarketare Oliver Valves
Ltd., PetrolValves, BuTech, DAFRAM S.p.A., Perar S.p.A, Flowserve
Corporation, Cameron, L.B. Bentley Ltd., and Cortec LLC among others.
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This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This
report is a complete study of current trends in the market, industry
growth drivers, and restraints. It provides market projections for
the coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
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