Subsea Well Access and Blowout Preventer System Market Size and Share; by Subsea Well Access System Type (Vessel-based Well Access Systems, Rig-based Well Access Systems), Subsea BOP System Type (Annular BOP and Ram BOP); Location (Shallow Water, Deepwater, Ultra-Deep Water) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 1363
  • Published Date: Jan 19, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Subsea Well Access and Blowout Preventer System Market size is expected to reach USD 6 Billion by the end of 2036, growing at a CAGR of 4% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the subsea well access and blowout preventer system crossed around USD 3 Billion. The primary driver is an increasing number of maturing wells raising the requirement for subsea well access and the blowout preventer system market. The number of wells that matured in 2022 touched 40,879, which increased 11.6% from the extremely low total of 36,630 wells in 2021. As a huge specialized, mechanical collection of valves, fabricated to seal wells against kicks or blowouts during drilling or work-over operations, a conventional blowout preventer comprises a Lower Marine Riser Package (LMRP) and an amalgamation of multiple kinds of preventers, changing in number and potential principally for operational factors.

Another factor that will drive the market of the subsea well access and blowout preventer systems is the increasing exploration of oil and gas across the world. The energy sector, which comprises oil and gas, implemented more than 41 million people worldwide in 2019. This comprises almost 6.3 million in the oil supply segment and 3.9 million in gas supply. That isn't astonishing when you consider how countries utilize these resources, involving heating, fuel, electricity, industrial production, and manufacturing. International oil and gas discoveries are estimated to be 4.7 billion barrels of oil in the 11 months from January to November 2021. This was the lowest estimation recorded in decades, with the figure showing a decrease of approximately 166 percent set side by side to 2020. International discoveries of crude oil and natural gas have noticed a mostly downward trend since 2015 when the breakthrough volume touched a peak of some 20.3 billion barrels of oil.

Subsea Well Access and Blowout Preventer System Market
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Subsea Well Access and Blowout Preventer System Market: Growth Drivers and Challenges

Growth Drivers

  • Requirement of Clean Energy - Contrary to fossil fuel sources, green energy comes from sustainable resources. This signifies that their supplies are endless and cannot be consumed. This sector is a main driver for the economy and is expected to increase substantially. Electricity networks are another major propelling force. They account for 70% of recent mineral requirements from the energy technologies taken into account in this study, although their share remains to fall as other technologies – most particularly EVs and storage – register quick expansion.
  • Emerging Advancements in Technologies and IoTs -The service sector has been working on modifying the latest technologies and business plans to increase and modify well control and wellbore unification. Much of the importance has been on creating an offshore blowout preventer (BOP) system, and multiple technologies have been invented to match the ever-rising needs and challenges brought about by ultra-deepwater, and high-pressure/high-temperature reservoirs. Moreover, a typical subsea deepwater blowout preventer control system (BOP) comprises agents like electrical and hydraulic lines, control pods, hydraulic authorities, test valves, kill and choke lines and valves, riser joint, hydraulic linkers, and a support frame. 
  • Increasing Recovery of Hydrocarbon Liquids- Conventional and unconventional hydrocarbons are liable to stay the primary agent of the energy mix required to match the increasing global energy demand in the next 50 years. The lifecycle of an oilfield is primarily attributed to three basic stages: production buildup, plateau production, and reducing production. Maintaining the needed production levels throughout the lifecycle needs a good comprehension of and the potential to control the recovery mechanisms included. For primary recovery (i.e., natural depletion of reservoir pressure), the lifecycle is generally short and the recovery factor does not surpass 20% in most scenarios. For secondary recovery, depending on either natural or artificial water or gas injection, the gradual recovery ranges from 15 to 25%. Internationally, the total recovery factors for mixed primary and secondary recovery range between 35 and 45%.


  • The Drop in Crude Oil Production - The global production of crude oil could decrease by approximately 40 million B/D by 2020 from existing projects, and an extra 25 million B/D of oil will be required to be generated for the supply to keep pace with intake. Scientific discoveries and technological creations are required, not only to protect the supply of reasonable hydrocarbons but also to limit the environmental influence of hydrocarbon recovery and use. While the members of the OPEC usually determine the supply, the U.S. has been the latest contributor to deciding oil prices with its exports from oil shales. To illustrate, the oil prices in 2014 took a huge drop after both OPEC and the US wore out so much oil, which surpassed the international consumption threshold. In crises like wars and geopolitical fluctuation, the balance between demand and supply tolerates and destabilizes international oil prices. Because of a range of political reasons, oil supplies could be stayed or diminished by some oil-generating countries.
  • Strict Environmental Rules
  • Shortage of Skilled Technicians

Subsea Well Access and Blowout Preventer System Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2023)

~USD 3 Billion

Forecast Year Market Size (2036)

~USD 6 Billion

Regional Scope

  • North America (North America, Canada, Mexico)
  • Europe (Germany, Spain, UK, France, Italy, Russia, Others)
  • Asia Pacific (Japan, China, India, Australia, Others)
  • Middle East and Africa (South Africa, UAE, Others)
  • Latin America (Brazil, Argentina, Others)
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Subsea Well Access and Blowout Preventer System Segmentation

Subsea Well Access System Type (Vessel-based Well Access Systems, Rig-based Well Access Systems)

The vessel-based well access systems segment is estimated to hold 58% share of the global subsea well access and blowout preventer system market by 2036. This expansion will be noticed due to the cost-effectiveness of vessel-based well access systems. Moreover, a vessel-based technique could curb costs by as much as 50%, in part because of lower distribution rates and the capability of vessels to promptly shift. Extra cost cutbacks are accomplished through the power to live stream operations, which offers quicker decision-making and enables some operations to be tackled vaguely. Further cost decreases also can be understood with multi-customer campaigns where materialization and movement costs are shared.

Location (Shallow Water, Deepwater, Ultra-Deep Water)

Subsea well access and blowout preventer system market from the deepwater segment will increase the most during the forecast period and will have the highest revenue share of almost 46%. This growth can be witnessed primarily because of the huge discoveries of oil and gas wells in the deep-water part of the sea. Only about 20% of the explored deepwater resources are cultivated and less than 5% have been generated. By the end of November 2022, an entire number of 178 discoveries had been made internationally from new-area wildcat (NFW) drilling equalize to just over 18.7 billion barrels of oil similar (Bboe) curable (traditional). To put this in standpoint once a complete year of results is understood, it could exceed 2019 and be the most cultivated recoverable resource from discoveries of drilling over the last five years outside of North America. To date 2022 has submitted some big discoveries, inside some new plays and countries, possibly as an outcome of work attempted by operators on portfolio high-grading which occurred during the epidemic, or possibly before that, when organizations started to adjust their portfolios for the energy transition. Additionally, the industry has grown its revitalization following the coronavirus disease 2019 (COVID-19), which as well as the impetus of the high oil price all add to a magnificent year in exploration.

Our in-depth analysis of the global subsea well access and blowout preventer system market includes the following segments:

     Subsea Well Access System Type

  • Vessel-based Well Access Systems
  • Rig-based Well Access Systems

     Subsea BOP System Type

  • Annular BOP
  • Ram BOP


  • Shallow Water
  • Deepwater
  • Ultra-Deep Water

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Subsea Well Access and Blowout Preventer System Industry - Regional Synopsis

North American Market Analysis

The subsea well access and blowout preventer system market in the North America region will encounter the greatest surge during the forecast period and hold almost 39% of revenue share by the end of 2036. This market growth will be noticed due to the increasing offshore activities in the Gulf of Mexico. The Straits of Florida is a series of waterways that link the Gulf of Mexico to the Atlantic Ocean, and the Yucatan Channel links the Gulf to the Caribbean Sea. The Gulf has a complete area of roughly 1,680,000 square kilometers (650,000 square miles) and an utmost capacity of roughly 7,020 meters (23,000 ft). The platforms are massive, and they are a chance for boats and ships. To hinder collisions, the United States Coast Guard manages a system of traffic lanes all over the platforms. These lanes are represented by buoys, and boats and ships must listen to them.

European Market Statistics

The Europe region will encounter huge market growth during the forecast period and will hold the second position in the subsea well access and blowout preventer system market. This market growth can be noticed due to the huge discoveries of oil and gas in this region. Most importantly, more than 14 trillion cubic feet of gas explored in the East Mediterranean in Cyprus has yet to be cultivated. Other key projects other than the core North Sea countries (Norway, the UK, and Denmark) are situated in the Black Sea in Romania and Turkey, and the Dutch and German segments of the North Sea. Turkey’s massive state-belonged Sakarya area is specifically remarkable, having gone from exploration to assigning in less than three years. Generally, Turkey’s state oil organization TPAO suggests a massive 25 trillion cubic feet (710 billion boe) of gas in its Deepwater Black Sea areas.

Research Nester
Subsea Well Access and Blowout Preventer System Market size
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Companies Dominating the Subsea Well Access and Blowout Preventer System Market

    • Aker Solutions ASA
      • Company Overview
      • Business Planning
      • Main Product Offerings
      • Financial Execution
      • Main Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
    • SWOT Analysis
    • Baker Hughes Co.
    • Dril Quip Inc.
    • Eaton Corp. Plc
    • Halliburton Co.
    • Helix Energy Solutions Group Inc.
    • KOSO Kent Introl Ltd.
    • NOV Inc.
    • Oceaneering International Inc.
    • RMZ Oilfield Engineering Pte Ltd.
    • Schlumberger Ltd.
    • Japan Petroleum Exploration Co., Ltd.
    • Japan Drilling Co., Ltd.
    • JGC Holdings Corporation
    • Kawasaki Kisen Kaisha, Ltd.


In The News

  • Aker Solutions ASA has contracted a front-end engineering and design (FEED) deal with the Marine Energy Test Centre (METCentre) in Norway to navigate new subsea power system technology which can substantially limit the costs and intricacy of offshore wind farms.
  • Aker Solutions ASA has established a first cut of steel and an offshore module in coastal Norway for their projected increase in jobs, industrial expansion, and the energy transition. The service module will become a bit of the PWP-Fenris platform at the offshore Valhall Field Center, so Aker Solutions ASA, Worley Rosenberg, and Aker BP have created the module’s implication with a steel-cutting ceremony. Valhall PWP — the Valhall manufacturing wellhead platform — includes three large modules that will jointly weigh over 15,000 tonnes.

Author Credits:  Payel Roy, Dhruv Bhatia

  • Report ID: 1363
  • Published Date: Jan 19, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing number of maturing wells across the world will majorly drive the market growth of the subsea well access and blowout preventer system market.

The market size of the subsea well access and blowout preventer system market is expected to get a CAGR of approximately 4% over the forecast period, i.e., 2024-2036.

The major players in the market are Aker Solutions ASA, Baker Hughes Co., Dril Quip Inc., Eaton Corp. Plc, Halliburton Co., Helix Energy Solutions Group Inc., KOSO Kent Introl Ltd., NOV Inc., Oceaneering International Inc., RMZ Oilfield Engineering Pte Ltd., Schlumberger Ltd., Japan Petroleum Exploration Co., Ltd., Japan Drilling Co., Ltd., JGC Holdings Corporation, Kawasaki Kisen Kaisha, Ltd.,.

The deepwater segment is anticipated to reap the largest market size with almost 46% by the end of 2036 and demonstrate substantial growth scopes.

The market in the North American region is expected to have the largest market share by the end of 2036 and provide more business opportunities in the future.
Subsea Well Access and BOP System Market Report Scope

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