Subsea Control systems Market Highlights
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.
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. The growing
demand for subsea control systems is attributed to recent trends of deepwater
and ultra-deepwater production.
Industry Segmentation
The
Subsea
Production Control Systems Market 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. This component include CPU,
communication boards, digital transmitter modules, hydraulic valves, and subsea
electronic module, among others.
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.
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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