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. Moreover, growing offshore oil & gas sector is
also driving the market for subsea control systems. 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. This component include CPU, communication boards,
digital transmitter modules, hydraulic valves, and subsea electronic module,
among others.
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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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