Oil and Gas Subsea Power Grid Market (Component: Variable Speed Drivers, Transformers, Switch Gear, Power Cables, Connectors, Others; Configuration: Topside/Shore, Seabed; End User: Production Facilities, Drilling Rigs, Floating Production System, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2017 - 2023

Introduction

An interconnected network of transformers, power cables, variable speed drives and switchgear forms subsea power grid system. The development of oil and gas industry lies with the future growth of complex reserves. In the production of oil and gas, the subsea processing system in the offshore wells is a cost-effective solution. To power the subsea processing equipment, the oil and gas subsea power grid is quintessential such as pumps, subsea compressor, and motors among others. Oil and gas subsea power grid not only offers constant power supply to the subsea process facilities, but also contributes in increasing power requirement.

Market Dynamics

Rise in subsea power load, high reliability and minimum maintenance cost, increasing energy demand and increasing deep-sea oil and gas operations are some key factors driving the growth of this market. However, low investments by countries in oil and gas sector and volatile prices of oil and gas are restraining the growth of this market. Marinization of existing equipment and technology and rising CAPEX on subsea oil and gas facilities are the factors proving to be ongoing trend in this market. In addition, increasing use of subsea processing system in oil and gas production is also a major trend for this market growth. Progress of seabed power grid and development of power system constituents operating at high sea depth are expected to provide future growth opportunity to oil and gas subsea power grid market.

Based on Geography, Middle East Africa (MEA), in 2016, dominated the oil and gas subsea power grid market. Subsea plans in African region in large-scale is expected to compel the evolution of this market during the forecast period. South America, followed by Middle East & Africa (MEA), was the second largest market segment in 2016. Furthermore, Brazil with many arenas of subsea procedures has turn out to be a center of subsea evolution in South American region. The enhancement in long step out power grid configuration has compelled the trading for subsea power cables. The oil and gas trade is progressively deploying the beneficial subsea processing system to surge production. The progression of power grid constituents that can bear the extraordinary force of water column drives the development of seabed power grid segment.

Report coverage

The market research study on “Oil and Gas Subsea Power Grid Market (Component: Variable Speed Drivers, Transformers, Switch Gear, Power Cables, Connectors, Others; Configuration: Topside/Shore, Seabed; End User: Production Facilities, Drilling Rigs, Floating Production System, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2017 – 2023” offers a detailed study on oil and gas subsea power grid market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact analysis are provided. Information about Porter's five forces analysis is also mentioned. The report provides insights on global oil and gas subsea power grid market, its component, configuration, end user, and major geographic regions. The report covers the basic development policies and layouts of technology development processes. Secondly, the report covers global oil and gas subsea power grid market size, and the segment markets by component, configuration, end user, and geography along with the information on companies operating in the market. The oil and gas subsea power grid market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and Rest of the World (RoW). For each region, the market sizes for different segments have been covered under the scope of report. There are large numbers of oil and gas subsea power grid manufacturers present in the market. Some of the major manufacturers include Expro International Group Holdings Limited, Subsea Technology Group AS, General Electric, Aker Solutions, Drill-Quip Inc., Siemens, Cameron International Corporation, FMC Technology, ABB and Schneider Electric among others.

The global oil and gas subsea power grid market is segmented as below:

• Variable Speed Drivers
• Transformers
• Switch Gear
• Power Cables
• Connectors
• Others

• Topside/Shore
• Seabed

• Production Facilities
• Drilling Rigs
• Floating Production System
• Others

• North America
  • U.S.
  • Canada 
  • Rest of North America
• Europe
  • Norway
  • U.K.
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Australia
  • Malaysia
  • Rest of Asia-Pacific
• Middle East and Africa (MEA)
  • Saudi Arabia
  • Nigeria
  • UAE
  • Abu Dhabi
  • Angola
  • Rest of Middle East and Africa (MEA)
• Rest of the World (RoW)
  • Brazil
  • Argentina
  • Rest of the World (RoW)