United States Subsea Market: EPCI Services & Project Investment - 2024-2031| Major Companies - TechnipFMC plc, Subsea 7 S.A., Aker Solutions, Dril-Quip, Inc.

Market Size and Forecast:

The Global Subsea Market reached USD 17 billion in 2022 and is expected to reach USD 20.2 billion by 2031 growing with a CAGR of 2.2% during the forecast period (2024-2031).

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Key Development:

USA Developments

September 23, 2025: SLB announced an agreement to acquire RESMAN Energy Technology, a provider of wireless reservoir surveillance solutions, a strategic move to integrate advanced digital and AI-based monitoring tools into subsea operations for predictive maintenance in the Gulf of Mexico.

August 7, 2025: Trendsetter Engineering won a contract to deliver four 15K horizontal subsea tree systems and associated installation services to a major operator in the Gulf of Mexico, confirming active capital expenditure in high-pressure, high-temperature (HP/HT) subsea production systems.

Japan Developments

September 22, 2025: SoftBank Corp. and partners (including Meta and NEC) agreed to build the "Candle" submarine cable system, an 8,000 km, 24-fiber pair subsea cable connecting Japan and Singapore, marking a major investment in critical digital infrastructure for the Asia-Pacific region.

July 2025: IHI Corporation and Royal Vopak signed a joint development agreement to establish an ammonia terminal in Japan, advancing the subsea infrastructure required for the import, storage, and stable supply of ammonia for power generation and industry, supporting the decarbonization of offshore energy.

Subsea technology involves underwater systems and equipment used in offshore oil, gas, and renewable energy operations. It enables exploration, production, and maintenance in deepwater environments, supporting efficient and safe resource extraction.

Key Players:

TechnipFMC plc
Subsea 7 S.A.
Aker Solutions
Dril-Quip, Inc
Schlumberger Limited
One Subsea
Balmoral Offshore Engineering
Delta Subsea LLC
Baker Hughes
Allseas Group S.A.

Growth Forecast Projected:

The Global Subsea Market Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Subsea Market Market Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Equipment: Wellheads, Subsea Trees, Manifolds, Flowline Connectors, Control Systems, Others
➥ By Platform: Fixed Platform, Multi-Purpose Service Vessel (MSV), Tension Leg Platform (TLP), Floating Production and Offloading Vessel (FPSO)
➥ By Service: Installation, Asset Management, Product Optimization, Inspection, Maintenance, Repair Services, Others
➥ By Application: Crude Oil, Natural Gas, Wind Farm

Regional Analysis for Subsea Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Subsea Market Market producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Subsea Market Market revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Subsea Market?

A: In 2022, the Subsea Market was valued at USD 17 Billion, reflecting its strong industry presence.

Q2: How large is the Subsea Market expected to be by 2031?

A: By 2031, industry forecasts suggest the Subsea Market will grow to around USD 20.2 Billion, demonstrating significant expansion.

Q3: What is the growth rate of the Subsea Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 2.2% during the forecast period from 2024 to 2031.

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