The Global
Subsea Control systems Market is estimated to expand at ~9.15% CAGR during the
forecast period. Subsea control system is a
system which provides monitoring and control to oil & gas subsea assets
such as valves, subsea trees, templates, and pipelines. This system involves
the receiving and transmission of data between the surface and subsea systems.
The main component of a typical subsea control systems include electrical power
unit, master control stations, hydraulic power units, subsea umbilical
termination assembly, umbilicals, electrical & hydraulic flying leads, and
subsea control module. The subsea control system and auxiliary monitoring
devices can be installed near to subsea trees with open architecture communications
and modular designs.
The
growing demand for subsea control systems is attributed to recent trends of
deepwater and ultra-deepwater production. Moreover, growing offshore oil &
gas sector is also driving the market for subsea control systems. One of the
major restraints of the subsea control systems is difficulty in manufacturing
of subsea control system suitable for the harsh underwater environment.
Prominent Players:
The
key players of the global Subsea control systems Market are FMC Technologies
Inc. (US), Halliburton (US), GE Oil
& Gas Spa (US), Aker Solutions ASA (Norway), OneSubsea (US), Baker Hughes
(US), Kongsberg Gruppen (Norway), Proserve Group Inc. (UK), Oceaneering
International, Inc. (US), Siemens AG (Germany), Weatherford International (US),
and Hitec Products (Norway), among others.
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Segmental
Analysis:
The
market for Subsea control systems is segmented based on component as subsea
control module, umbilical assembly, master control systems, and sensors, among
others.
The subsea
control module segment dominates the market due to the fact that it is the
brain of the tree. Moreover, it consists of various other component which are
an integral part of subsea control systems. These components include CPU,
communication boards, digital transmitter modules, hydraulic valves, and subsea
electronic module, among others.
Regional Outlook:
Region
wise, Europe held the largest market share of the global subsea control systems
market in 2017. The countries contributing to the largest market share of the
region include UK and Norway. The demand for subsea control systems, especially
in these countries is highly attributed to the increasing deepwater drilling
activities in the region along with increasing subsea spending in these
countries. These factors are driving the demand for Subsea control systems in this
region.
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