
Subsurface Safety Valves Market
Subsurface Safety Valves Market Global Industry Assessment & Forecast
Segments Covered
By Type Surface-Controlled, Subsurface Controlled
By Application Oil and Gas Well, Offshore Operation
Snapshot
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2021 - 2028 |
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2016 - 2020 |
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1.5 Billion |
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2.5 Billion |
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6.8 |
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Asia-Pacific |
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Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market Dynamics
Region Level Market Share
Import Export Analysis
Production Analysis
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Key Insights
The
global Subsurface Safety Valves market was valued at USD 1.5 Billion in 2020 and is
projected to reach USD 2.5 Billion by 2028, growing at a CAGR of 6.8%
from 2021 to 2028.

Years | Parameters |
---|---|
Historical Data (Actual Data) | 2016-2020 |
Base Year Data | 2020 |
Current Year Date | 2021 |
Projected year data | 2021-2026 |
Annual Market Size (2028) | 2.5 Billion |
Annual Market Size (2021) | |
CAGR (2021 - 2028) | 6.8% |
Definition and Overview
The safety device is established in the upper wellbore to administer emergency closure of the bearing conduits in the case of a disaster. Types of subsurface safety valves are surface-controlled and subsurface-controlled. In each case, the safety-valve system is invented to be fail-safe, so that the wellbore is isolated in the event of any system failure or damage to the surface production-control facilities.
The
global Subsurface Safety Valves market is segmented based on by Type, Application,
regions, and countries. The regional segmentation provides current and forecast
demand across North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa. All the segments have been analyzed on the basis of present
and future trends. Rising demand for Subsurface Safety Valves in various countries such as the U.S.,
Germany, China, India, and Japan, among others is likely to support the growth
of the market. Numerous companies are focusing on investing heavily in this
application to cater the end user requirements effectively. The report provides
comprehensive analysis of the market based on drivers, restraints,
opportunities, trends, competition, and industry-authenticated data. The market
is estimated from 2016 to 2020 with forecast from 2021 to 2028.
Global Subsurface Safety Valves Market: COVID-19 Impact Analysis
The
COVID-19 pandemic is affecting industries worldwide and the global economy took
hit in 2020 and likely in 2021 as well. The outbreak created disruptions in
industries such as semiconductor, consumer electronics, travel, and automotive,
among others. Impact of COVID-19 on the market demand is considered while
estimating the current and forecast market size and growth trends for all the
regions and countries. The
report provides a completely separate chapter for COVID-19 Impact Analysis.
This chapter includes: o Impact Assessment of COVID-19
Pandemic o Pre & Post COVID-19
Market Size o Qualitative analysis on the
short term & long term impact of COVID-19 on the market
o
The
analysis provides foremost strategies adopted by competitors to minimize the
impact of the pandemic on their business activities and scope for future
developments.
Market Insights
The increase in applications in the oil and gas industry is anticipated to augment the growth of the subsurface safety valves market over the forecast period.
The growing technology advancements, increasing R&D activities and rising safety concerns is further expected to drive the growth of the subsurface safety valves market.
The cost of raw materials is steadily increasing thus leading to a shift in the type of raw material usage is hindering the growth for Subsurface Safety Valves Market.
Global Subsurface Safety Valves Market Report Scope
Parameter | Details |
---|---|
Market Size Provided for Years | 2016-2028 |
Base Year | 2020 |
Historic Years | 2016-2020 |
Forecast Years | 2021-2028 |
Market Size Provided In Terms Of | Revenue & Volume |
Segments Covered | Type, Application |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Countries Covered | The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | SUNRY, Tejas, Baker Hughes, Schlumberger, American Completion Tools, Halliburton. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia-Pacific, company market share analysis, and COVID-19 impact analysis |
Market Segmentation
Type Analysis: Preview On the basis of Type,
the market is segmented into Surface-Controlled, Subsurface Controlled. Performance tailored tougheners Coupling held the
leading share in 2020 and is anticipated to grow at a noteworthy CAGR over the
forecast timespan. This is due to the increasing adoption of Performance tailored tougheners Coupling
in emerging economies in Asia Pacific region. Application
Analysis: Preview
Based on Application,
the market is segmented into Oil and Gas Well, Offshore Operation. Chemical Industry accounted
for the highest market share and is expected to grow at a significant CAGR from
2021 to 2028.
Global Subsurface Safety Valves Market: Type Segment Analysis
-
- Surface-Controlled
- Subsurface Controlled
Global Subsurface Safety Valves Market: Application Segment Analysis
-
- Oil and Gas Well
- Offshore Operation
Regional Analysis Preview
On the basis of region, the global Subsurface Safety Valves market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific region held the largest share of the global Subsurface Safety Valves market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. China is one of the most profitable countries for companies operating in the market.
Market Size, 2021 (USD Billion)
Global Subsurface Safety Valves Market: Regional Analysis
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Competitive Landscape
The market comprises of various small, medium, and large sized players spread across all the regions. Some of the key companies operating in the global Subsurface Safety Valves market are SUNRY, Tejas, Baker Hughes, Schlumberger, American Completion Tools, Halliburton.. The report provides company market share analysis which gives a comprehensive overview of the key competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.
FAQ
Frequently Asked Question
What is the global demand for Subsurface Safety Valves in terms of revenue?
-
The global Subsurface Safety Valves valued at 1.5 Billion in 2020 and is expected to reach 2.5 Billion in 2028 growing at a CAGR of 6.8%.
Which are the prominent players in the market?
-
The prominent players in the market are SUNRY, Tejas, Baker Hughes, Schlumberger, American Completion Tools, Halliburton..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 6.8% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Subsurface Safety Valves include
- The increase in applications in the oil and gas industry is anticipated to augment the growth of the subsurface safety valves market over the forecast period.
- The growing technology advancements, increasing R&D activities and rising safety concerns is further expected to drive the growth of the subsurface safety valves market.
Which region accounted for the largest share in the market?
-
Asia-Pacific was the leading regional segment of the Subsurface Safety Valves in 2020.