Subsea
Production Control Systems Market Overview
As per the recent studies conducted by Market
Research Future (MRFR), the global Subsea Control Systems market has been
estimated to develop at 9.15% CAGR over the forecast period.
Recent
trends of ultra-deepwater and deepwater production is likely to propel the
subsea control systems market. Additionally, need for rapid discovery of
hydrocarbon reserves along with replacement of shallow water basin extend
substantial opportunities for subsea control systems market.
Global
Subsea
Production Control Systems Market has been estimated to witness a substantial growth over the forecast
period owing to the surging offshore oil & gas sector. The current trends
in ultra-deepwater & deepwater production also influences the market growth
positively. Several key oil & gas brands across the world are spending in
their respective subsea business in order to achieve a profitable share in the
market. Subsea
control system is a framework which offers control and monitoring to oil &
gas subsea assets such as subsea trees, valves, pipelines, and templates. This
system requires obtaining and transmitting data between the subsea and surface
systems. The primary elements of a typical subsea control system include master
control stations, electrical power unit, subsea umbilical termination assembly,
hydraulic power units, electrical & hydraulic flying leads, subsea control
module, and umbilicals. The auxiliary monitoring devices and subsea control
system can be installed close to subsea trees with modular designs and open
architecture communications.
Subsea
Production Control Systems Market Segmentation
Global subsea systems market has been segmented based
on component, type, region, and application.
Based on type, the market has been segmented into
underwater control system and topside control system. The topside control
system leads the market as these kind of control systems normally offer
complete monitoring and control of both subsea device as well as surface
electrical power units (EPU) including hydraulic power units (HPU).
Regional
Analysis
Europe has
been likely to lead the market for subsea control systems. Region wise, in
2017, Europe held the highest market share of the global subsea control systems
market. The nations contributing to the key market share of the region include
Norway and UK. The demand for subsea control systems, particularly in these regions
can be increasingly attributed to the surging deepwater drilling activities in
the region along with growing subsea outlays in these economies. These factors
are propelling the demand for Subsea control systems in this region.
Key
Players
The
global subsea control systems market has been dominated by key players such as
Halliburton (US), FMC Technologies Inc. (US), Aker Solutions ASA
(Norway), GE Oil & Gas Spa (US), Baker Hughes (US), OneSubsea (US),
Proserve Group Inc. (UK), Kongsberg Gruppen (Norway), Siemens AG (Germany),
Oceaneering International, Inc. (US), Hitec Products (Norway), and Weatherford
International (US).
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