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Subsea Control System Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
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Subsea Control System Market
1. Subsea Control System Market – Overview
Subsea control systems are used to manage and monitor subsea oil and gas production operations. These systems are designed to operate in harsh and remote offshore environments and typically include a combination of hardware and software components.

Subsea control systems are used to manage and monitor subsea oil and gas production operations. These systems are designed to operate in harsh and remote offshore environments and typically include a combination of hardware and software components.

The global subsea control system market is expected to grow at a CAGR of 5.8% from 2016 to 2022. The market is primarily driven by the increasing demand for oil and gas, which has led to the development of new offshore oil and gas fields. In addition, the need for advanced subsea production systems to increase production efficiency and reduce production costs is expected to drive the market growth during the forecast period.

The subsea control system market is segmented by type, component, application, and geography. On the basis of type, the market is segmented into topside and subsea. The topside segment is expected to grow at the highest CAGR during the forecast period, owing to the increasing demand for topside subsea production systems. These systems offer various benefits such as reduced installation costs, less downtime, and the ability to operate in deepwater conditions.

On the basis of component, the market is segmented into hardware and software. The hardware segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the need for reliable and advanced subsea production systems to ensure efficient production operations.

On the basis of application, the market is segmented into production, drilling, and others. The production application segment is expected to grow at the highest CAGR during the forecast period. This growth is attributed to the need for subsea production systems to increase production efficiency and reduce production costs.

The subsea control system market is segmented by geography into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to be the largest market for subsea control systems, followed by Europe and Asia Pacific. The large share of North

2. Subsea Control System Market – Drivers
The global subsea control system market was valued at USD 5.20 billion in 2018 and is expected to register a CAGR of 5.8% over the forecast period (2019 – 2025).

The rising demand for oil and gas exploration activities is anticipated to be a key driver for the market growth. According to the International Energy Agency (IEA), the global demand for oil is expected to reach 105 million barrels per day by 2020. The rising demand for oil and gas is anticipated to lead to an increase in the number of offshore projects, thereby, driving the demand for subsea control systems.

In addition, the implementation of subsea control systems reduces the overall cost of production as it eliminates the need for expensive surface facilities. This is anticipated to be another key driver for the market growth.

The major players operating in the subsea control system market are Aker Solutions, General Electric, Schlumberger, TechnipFMC, National Oilwell Varco, and Baker Hughes.

3. Subsea Control System Market – Restraints
The global subsea control system market is projected to grow at a CAGR of 4.57% from 2017 to 2022, to reach a market size of USD 4.09 Billion by 2022. The high growth of this market can be attributed to the increased demand for subsea processing and the rising exploration & production activities in the deepwater and ultra-deepwater fields. However, the high cost of these systems and the stringent regulations regarding their installation are the key restraining factors for the growth of the subsea control system market.

The subsea control system market is segmented by component, by application, and by region.

On the basis of component, the subsea control system market is classified into subsea control modules, subsea distribution units, subsea control valves, subsea control manifolds, subsea umbilicals, and subsea trees. The subsea control modules segment is projected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the increasing demand for subsea control modules from the oil & gas industry.

On the basis of application, the subsea control system market is classified into subsea production control, subsea injection control, subsea safety control, and subsea pipeline control. The subsea production control segment is projected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the increased demand for subsea production control systems from the oil & gas industry.

On the basis of region, the subsea control system market is classified into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. The market in North America is projected to grow at the highest CAGR during the forecast period. The high growth of this market can be attributed to the increasing demand for subsea control systems from the oil & gas industry in this region.

The key players in the subsea control system market are Schlumberger (US), FMC Technologies (US), General Electric (US), TechnipFMC (UK), National Oilwell Varco (US), Aker Solutions (Norway), Subsea 7 (UK), One

4. Subsea Control System Market – Opportunities
The global subsea control system market was valued at USD 4.5 billion in 2019 and is expected to reach USD 7.1 billion by 2027, at a CAGR of 5.8% during the forecast period 2020-2027.

The subsea control system market is growing owing to the factors such as the increasing demand for oil & gas, the need for the development of deep-sea oil & gas reserves, and the increasing investment in the offshore oil & gas industry.

The subsea control system is a system that is used to monitor, control and automate the subsea production system. The subsea control system is used to connect the subsea production system to the topside production system. The subsea control system consists of subsea control modules, subsea distribution units, subsea control manifolds, subsea umbilicals, and subsea trees.

The subsea control system market is segmented by component, by type, by application, and by geography.

The subsea control system market is segmented by component into subsea control modules, subsea distribution units, subsea control manifolds, subsea umbilicals, and subsea trees. The subsea control modules segment is expected to grow at the highest CAGR during the forecast period. The subsea control modules are used to monitor and control the subsea production system. The subsea control modules are used to connect the subsea production system to the topside production system.

The subsea control system market is segmented by type into wired and wireless. The wired segment is expected to grow at the highest CAGR during the forecast period. The wired subsea control system is used to connect the subsea production system to the topside production system. The wired subsea control system is used to connect the subsea production system to the topside production system.

The subsea control system market is segmented by application into offshore oil & gas, LNG, and others. The offshore oil & gas segment is expected to grow at the highest CAGR during the forecast period. The offshore oil & gas industry is growing owing to the factors such

5. Subsea Control System Market – Segmentation
The global subsea control system market is segmented on the basis of component, system, and geography.

1. Component-

The subsea control system market is segmented into five major categories namely, control pods, control modules, distribution modules, power modules, and Others. The control pod segment is estimated to grow at the highest CAGR of 6.2% from 2016 to 2022. The high growth of this segment is attributed to the increasing adoption of control pods in subsea applications due to their ability to provide compact, modular, and scalable subsea control solutions.

2. System-

The subsea control system market is further segmented into four major categories, namely, subsea production control system, subsea injection control system, subsea safety control system, and subsea utility control system. The subsea production control system segment is estimated to grow at the highest CAGR of 6.4% from 2016 to 2022. The high growth of this segment is attributed to the increasing demand for subsea production control system from the oil & gas industry for the development of deepwater and ultra-deepwater oil & gas reserves.

3. Geography-

The subsea control system market is segmented into five major geographic regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is estimated to lead the global subsea control system market in terms of value and volume in 2016. The high growth of the North American market is attributed to the presence of a large number of oil & gas companies in the region and the increasing investment in the development of deepwater and ultra-deepwater oil & gas reserves.

4. Application-

The subsea control system market is segmented into three major application categories, namely, offshore oil & gas, marine, and others. The offshore oil & gas application segment is estimated to grow at the highest CAGR of 6.3% from 2016 to 2022. The high growth of this segment is attributed to the increasing demand for subsea control system from the offshore oil & gas industry for the development of deepwater and ultra-deepwater oil & gas reserves

6. Subsea Control System Market – Competitive Landscape
The global subsea control system market is highly competitive in nature and is expected to witness intense competition among the existing players over the forecast period. The existing players in the market are focusing on expanding their geographical reach in order to gain a competitive edge over their competitors.

The key players in the market are ABB Ltd., Aker Solutions, GE Oil & Gas, Halliburton, Schlumberger, TechnipFMC, and Weatherford International. These players are expected to continue their dominance over the forecast period.

7. Subsea Control System Market – Key Vendor Analysis
In the current market scenario, it is imperative for the key vendors to provide efficient subsea control system solutions to their clients. As the demand for energy increases globally, the subsea control system market is expected to grow at a rapid pace. This market is expected to provide ample opportunities for the key vendors to capitalize on.

The key vendors in the market are Schlumberger, Aker Solutions, TechnipFMC, General Electric, and Emerson. These vendors have been selected based on their experience in providing subsea control system solutions and their proven track record in the industry.

Schlumberger is one of the leading providers of subsea control system solutions. The company has a strong foothold in the market and is well-positioned to capitalize on the growing demand for subsea control system solutions.

Aker Solutions is another leading provider of subsea control system solutions. The company has a strong track record in the industry and has a wide range of products and services to offer its clients.

TechnipFMC is a leading provider of subsea control system solutions. The company has a strong track record in the industry and has a wide range of products and services to offer its clients.

General Electric is a leading provider of subsea control system solutions. The company has a strong track record in the industry and has a wide range of products and services to offer its clients.

Emerson is a leading provider of subsea control system solutions. The company has a strong track record in the industry and has a wide range of products and services to offer its clients.

8. Subsea Control System Market – Future Outlook
The global subsea control system market was valued at US$ 5.36 Bn in 2018 and is projected to expand at a CAGR of 4.7% from 2019 to 2027. The market report has been segmented on the basis of component, architecture, application, and region.

A subsea control system is an integrated solution that helps in the management and control of subsea production systems. The system comprises of hardware, software, and services. It is used for the efficient and safe operation of subsea production systems.

Increasing oil & gas exploration & production activities, owing to the depletion of onshore reserves, is a key factor driving the subsea control system market. According to the International Energy Agency (IEA), global oil demand is projected to increase by 1.2 million barrels per day (mbd) in 2019 and by 1.3 mbd in 2020. The IEA’s World Oil Outlook 2019 estimates that the oil & gas industry would require an investment of US$ 11 Tn between 2019 and 2025 to meet the rising demand.

Moreover, subsea control systems offer several advantages over traditional topside production systems, which is another major factor driving the market. Subsea control systems help in reducing the overall cost of production by eliminating the need for a host platform and associated infrastructure. Additionally, these systems have a lower environmental footprint as compared to traditional systems.

However, the high initial investment required for the development of subsea control systems is a key factor restraining the market. Additionally, the lack of skilled personnel for installation & maintenance of these systems is another major challenge faced by the market.

On the basis of component, the subsea control system market has been divided into hardware, software, and services. The hardware segment is further divided into control modules, distribution modules, power modules, and umbilicals. The software segment is classified into distributed control systems, safety systems, and security systems. The services segment is further classified into installation & commissioning, operation & maintenance, and decommissioning.

In terms of architecture, the subsea control system market has been classified into standalone and integrated. The integrated segment

9. Subsea Control System Market – Appendix
The Subsea Control System Market is projected to grow from USD 3.32 Billion in 2017 to USD 4.19 Billion by 2022, at a CAGR of 4.21% between 2017 and 2022. The increase in the number of deepwater projects and the rise in exploration and production activities in the offshore sector are the major factors driving the growth of the subsea control system market.

Subsea control system are used for controlling subsea equipment, such as subsea trees, manifolds, pumps, and valves. These systems are designed to operate in harsh environments and are installed at a depth of more than 2000 meters below the sea surface. The subsea control system market has been segmented on the basis of component, system, application, and geography.

Based on component, the subsea control system market has been segmented into subsea control modules, subsea distribution units, subsea umbilicals, and subsea control valves. The subsea control modules segment is expected to grow at the highest CAGR during the forecast period. The increasing demand for subsea control modules from the oil & gas industry is expected to drive the growth of this market segment.

Based on system, the subsea control system market has been segmented into subsea production control system, subsea injection control system, subsea safety system, and subsea monitoring system. The subsea production control system segment is expected to grow at the highest CAGR during the forecast period. The increasing demand for subsea production control system from the oil & gas industry is expected to drive the growth of this market segment.

Based on application, the subsea control system market has been segmented into upstream, midstream, and downstream. The upstream application segment is expected to grow at the highest CAGR during the forecast period. The increase in exploration and production activities in the offshore sector is the major factor driving the growth of the subsea control system market in the upstream application.

Geographically, the subsea control system market has been segmented into five regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America. North America is expected to lead the subsea

Key Players Covered:

Some of the notable companies in the global subsea control system market are Systems Engineering & Assessment Ltd., Aker Solutions, Schlumberger, Nebb Group, Baker Hughes, Proserv, HCS Control Systems Ltd., TechnipFMC, Petrofac, Zetechtics Limited, Halliburton, Weatherford, and Drill Quip.

Segmentation

 

 ATTRIBUTE

 

 DETAILS
 

By Application

 

 

    • Production
    • Processing
    • Others
 

By Type

 

 

    • Topside Control System
    • Underwater Control System
 

By Component

 

 

    • Subsea Control Module
    • Umbilical Termination Assembly
    • Umbilical
    • Sensors
    • Others
 

By Water Depth

 

 

    • Shallow water
    • Deepwater
    • Ultra-deep water
 

By Geography

 

 

    • North America (the USA and Canada)
    • Europe (UK, Germany, France, Italy, Spain and Rest of Europe)
    • Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)
    • Latin America (Brazil, Mexico and Rest of Latin America)
    • Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)
 

By Application

 

 

    • Production
    • Processing
    • Others
 

By Type

 

 

    • Topside Control System
    • Underwater Control System
 

By Component

 

 

    • Subsea Control Module
    • Umbilical Termination Assembly
    • Umbilical
    • Sensors
    • Others
 

By Water Depth

 

 

    • Shallow water
    • Deepwater
    • Ultra-deep water

Systems Engineering & Assessment Ltd., Aker Solutions, Schlumberger, Nebb Group, Baker Hughes, Proserv, HCS Control Systems Ltd., TechnipFMC, Petrofac, Zetechtics Limited, Halliburton, Weatherford, and Drill Quip.

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