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. Adapting to the
recent novel COVID-19 pandemic, the impact of the COVID-19
on Subsea Control Systems Market
is included in the present report.
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. 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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NOTE: Our team of researchers are studying
Covid19 and its impact on various industry verticals and wherever required we
will be considering covid19 footprints for a better analysis of markets and
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