Subsea Control systems Market Highlights
The
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. One of the major restraints of the
subsea control systems is difficulty in manufacturing of subsea control system
suitable for the harsh underwater environment.
Industry Segmentation
The
market for Subsea control systems is segmented based on component as subsea
control module, umbilical assembly, master control systems, and sensors, among
others.
Based
on component, the market is segmented as subsea control module, umbilical
assembly, master control systems, and sensors, among others. Subsea control
module segment is estimated to dominate the market during the forecast period
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.
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 component include CPU,
communication boards, digital transmitter modules, hydraulic valves, and subsea
electronic module, among others.
Leading 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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