June 11, 2018 - 2:41 PM EDT
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Global Marine Trencher Market| Decreasing Cost of Deepwater Drilling to Boost Growth| Technavio

LONDON

Technavio analysts forecast the global marine trencher market to grow at a CAGR of nearly 4% during the period 2018-2022, according to their latest market research report.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180611006028/en/

Technavio has published a new market research report on the global marine trencher market from 2018- ...

Technavio has published a new market research report on the global marine trencher market from 2018-2022. (Graphic: Business Wire)

The use of augmented reality in subsea systems is one of the major trends being witnessed in the global marine trencher market. Virtual or augmented reality environments reduce risks and improve the execution of jobs in remote locations or offshore operations. As augmented reality enables work instructions, processes, and procedures to be viewed and tested in a virtual environment, it helps in correcting the execution of job ahead of time.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

In this report, Technavio analysts highlight the decreasing cost of deepwater drilling as a key factor contributing to the growth of the global marine trencher market:

Global marine trencher market driver: Decreasing cost of deepwater drilling

Since the depletion of conventional oil reserves, oil companies have shifted to far-flung locations in search of new sources of production. Extracting oil from ultra-deepwater, the Arctic offshore, and heavy oil sands started, which incurred high capital and advanced technologies. The shale boom that led to a sharp decline in oil prices in the mid of 2014 made it difficult for companies to extract oil feasibly from deep waters.

According to a senior analyst at Technavio for research on engineering tools, “The technology for deepwater drilling has been in existence for years. However, it became economically feasible in the recent years. Streamlining of operations by producers and prioritizing drilling in core wells reduced costs, which helped producers achieve breakeven at lower crude oil prices. Thus, deepwater drilling is gaining its momentum with the increase in investments.”

Global marine trencher market: Segmentation and forecast

This market research report segments the global marine trencher market by technology (water jetting and mechanical cutting) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Based on technology, the water jetting segment held the largest market share in 2017, accounting for more than 59% of the market. The market share of this segment is expected to increase by almost 2% during the forecast period.

The Americas was the highest share holder of the global marine trencher market in 2017, accounting for a market share of more than 32%. This region is anticipated to dominate the global market through 2022.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com


Source: Business Wire (June 11, 2018 - 2:41 PM EDT)

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