Subsea Control Systems Market Scenario:
The global subsea control systems market is projected
to grow at a significant growth rate during the forecast period, mainly due to
recent trends of deepwater and ultra-deepwater production. 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.
Subsea control system aims at dealing with challenging
subsea environment. It also receives and transmits the data between the surface
and subsea. The data so acquired is used by engineers to monitor the subsea
production operations in all climate and water depths. There are many deciding
factors which impact the selection of any subsea control system such as the
distance between the control points, water depth, and required speed of
response during the execution of subsea functions.
Industry Segmentation
Global subsea systems market has been segmented based
on type, component, application, and region. Based on type, the market has been
classified into topside control system and underwater control system. The
topside control system dominates the market as these types of control systems
usually provide complete control and monitoring of both subsea equipment as
well as surface electrical power units (EPU) including hydraulic power units
(HPU).
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Key Players:
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)
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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