Subsea Capex to Surge: Which Companies Will Gain the Most?

Industry Overview - The global subsea market is projected to exceed $42 billion in capital investments by 2027, with a compound annual growth rate (CAGR) of 10% expected from 2024 to 2027, driven by increased operator spending on subsea equipment and installation services [1] Subsea Market Segmentation - Deepwater projects are anticipated to dominate the subsea market, representing 45% of the segment from 2024 to 2028, with significant initiatives in Brazil and Norway [2] - Ultra-deepwater developments are expected to capture 35% of the market, particularly in Brazil and Guyana, which are projected to lead in subsea installations [3] Emerging Opportunities - The subsea sector is expanding beyond traditional oil and gas, with the drive for Carbon Capture and Storage (CCS) creating new opportunities and necessitating innovation within the market [4] Key Companies - Companies like TechnipFMC and SLB are well-positioned to benefit from the projected capital influx in subsea projects, particularly in Brazil, Norway, and Guyana [5] - TechnipFMC is recognized for optimizing subsea fields and has a significant role in ExxonMobil's and Petrobras' subsea projects [6] - SLB, through its joint venture OneSubsea, focuses on transforming subsea production economics and reducing emissions, leveraging deep reservoir expertise and advanced technology [7]