Subsea Power Grid Industrial and Market studies - Global Industry Analysis, Size, Share, Trends, Analysis, Growth And Forecast, 2016 - 2020
"Subsea
Power Grid Market - Global Industry Analysis, Size, Share, Trends,
Analysis, Growth And Forecast, 2014 - 2020"
The Report covers current Market Trends, Worldwide Analysis, Global
Forecast, Review, Share, Size, Growth, Effect.
Description-
The
increasing oil and gas exploration activities in deep offshore
locations have led to the development of subsea power grids. The
depletion of onshore wells has forced the exploration companies to
focus on deep offshore locations. A continuous supply of power is
required for successfully operating in these offshore locations.
Pumps, compressors and CO2 injection all require an effective source
of power supply for continuous operations at offshore locations. In
deep offshore locations more technology is required to explore oil
and gas from ocean surfaces, thus the requirement of power increases
with technology.
Subsea
power grids are developed to meet this increasing demand of power
from offshore locations. The market for subsea power grids is
anticipated to rise at a substantial pace in the predicted period
owing to increasing offshore exploration activities in Africa and
Latin America. Many exploration companies along with major technology
providers are investing in developing power solutions for deep
offshore locations.
The
growing number of deepwater oil and gas reserves and increasing
demand for fossil fuels has bolstered investment in subsea power grid
market. As the major oil and gas reserves located in shallow water
areas have already been developed, new deepwater offshore locations
are being developed to satisfy the growing energy needs. In such
deepwater areas, heavy machinery and equipments need a reliable
source of power supply, which is provided by effective technologies
such as subsea power grid. The development of renewable energy in
offshore locations is also one of the major drivers encouraging
investment in this market. Installation of offshore wind farms in
many regions has led to the need of effective power transmission
technologies. Technological issues and high operational risks are the
major restraints which impact further growth of the market. However,
increasing focus on renewable sources such as wave and tidal energy
may provide an opportunity for the growth of the market in future.
The
market for subsea power grids can be segmented based on different
components utilized in the power grid and based on source of power
generation. Based on components the market can be categorized as
subsea transformers, switchgears and variable speed drives. The
subsea power grid market can also be segmented on the basis of source
of power generation. Captive power generation, wind power generation
and other sources such as wave and tidal are the primary means of
power generation in offshore locations.
The
increasing discovery rate of offshore fields in the Latin American
region will provide the major market for subsea power grids in the
coming future. Many prospective offshore gas wells in Africa will
also provide a potential market for the growth of this market segment
in future. Growth in North America is anticipated to be stagnant due
to their increasing focus on shale gas reserves. Europe is also a
prospective region owing to its rising investment in offshore
locations of Kazakhstan and Norway. The widespread adoption of
offshore wind farms in Europe is also one of the major drivers
influencing investment in power grid market.
The
market for subsea power grids is highly fragmented in nature. Some of
the major players operating in this market are FMC Technologies Inc.,
Aker Solutions ASA, Cameron International Corporation, Siemens AG,
Technip SA and General Electric Company.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a
complete study of current trends in the market, industry growth
drivers, and restraints. It provides market projections for the
coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
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