openPR Logo
Press release

Subsea Switchgear Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023

05-11-2018 01:38 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Increasing investment in offshore reserves by exploration and production companies to meet energy demand has resulted in increasing offshore production activities. There are various methods to produce oil and gas from offshore reserves including FPSO (floating production storage and offloading) vessels and subsea production. The subsea switchgear market is driven by the growth of the subsea installations market. Subsea production units are expected to be more favorable due to its various advantages over other offshore production systems. Subsea systems are capable of operating in harsh environmental conditions such as the Arctic. These systems will eliminate the need of an offshore production facility and will also provide cost benefits when compared with a huge production platform which results in huge operating cost. This also eliminates the need of long power lines ultimately results in less expenditure. The first ever subsea power distribution system to go into operation was the Ormen Lange pilot in Egersund Norway.

Get sample of this report at: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=7712

Subsea units will use high voltage distribution equipment to operate the subsea systems. The earlier subsea facility was powered from the surface making it reliable but very costly. In order to reduce the operational cost, companies started to place the electricity distribution system on the seabed. This resulted in cost reduction but the reliability was not hampered. Thus the electrical equipment are now located near the electricity generation facility which is a common practice in onshore facilities. Improved and reliable technology is required to overcome the subsea installation constraints such as high pressure and presence of salt water. System aspects plays an important role in selecting the individual devices in order to be sure that the devices are fit for all operating conditions. The switchgear is an important component for subsea power grid.

The subsea switchgear market can be segmented on the basis of voltage into extreme high voltage (EHV), ultra high voltage (UHV), high voltage (HV), medium voltage (MV) and low voltage (LV). Subsea high and low voltage switchgear is a key enabling component for subsea processing units. The majority of connections between different equipments are made by using the low voltage switchgear cubicles. In order to reduce the length of HV busbar and its support system, the HV equipment are placed together. The transformers are installed between HV circuit breakers and LV cubicles making it a symmetrical installation.

Rising oil prices are boosting the confidence of oil companies to invest such amount in deepwater drilling and production facilities. This investment is expected to increase in the near future with the increasing energy demand and depleting onshore oil reserves. Increasing deep and ultra deep water drilling activity is increasing the demand of subsea production facilities which ultimately drive the subsea switchgear market. An enormous opportunity lies with the vast number of unexplored deep and ultra deep reserves across the globe which will require subsea installation. The Golden Triangle constituting of GOM (the gulf of Mexico), Brazil and West Africa is expected to be the most attractive region for offshore oil and gas production during the forecast period.

Some of the key players in subsea switchgear market include ABB Limited, Mitsubishi Hitachi Power Systems Americas, Inc., Siemens AG, Schneider Electric, Aker Solutions, Pelamis Wave Power Ltd., Cameron International Corporation, General Electric Company and FMC Technologies, Inc. among others.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Subsea Switchgear Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023 here

News-ID: 1047437 • Views:

More Releases from Transparency Market Research

Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Study
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Stud …
The global 𝐭𝐢𝐬𝐬𝐮𝐞 𝐛𝐚𝐧𝐤𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 reached a value of US$ 1,056.4 million in 2017 and is projected to nearly triple to US$ 2,903.3 million by 2026, with a robust Compound Annual Growth Rate (CAGR) of approximately 12.0% from 2018 to 2026. Factors such as increasing awareness about tissue donation, technological advancements, and a growing target patient population are anticipated to propel market growth during this period. Moreover, the market is expected
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
This report by Transparency Market Research, Inc. assesses the present state and future growth potential of the global 𝐯𝐚𝐬𝐜𝐮𝐥𝐚𝐫 𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐝𝐞𝐯𝐢𝐜𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭. It features a comprehensive executive summary, offering insights into various segments of the market. Additionally, the report provides detailed analysis and data on product, access type, application, end user, and regional segments within the global market. Vascular closure devices is estimated to reach a value of ~US$ 1 Bn
Digital Health Market Estimated at US$ 1.1 Trillion by 2031, TMR Study
Digital Health Market Estimated at US$ 1.1 Trillion by 2031, TMR Study
In 2022, the worldwide 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐇𝐞𝐚𝐥𝐭𝐡 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 garnered a valuation of US$ 382.5 billion. Projections indicate a steady growth trajectory, with a compound annual growth rate (CAGR) of 13.1% anticipated from 2023 to 2031, ultimately culminating in a total valuation of US$ 1.1 trillion by the conclusion of 2031. Market analysts foresee a promising outlook characterized by the burgeoning prevalence of chronic diseases and the increasing adoption of smartphones and internet
Global Data Center Networking Market Set to Surge, Forecasted to Reach US$ 56.3 …
The Data Center Networking Market is poised for remarkable growth, driven by the burgeoning demand for cloud-native applications and the rapid adoption of data center virtualization and cloud computing. With an estimated value of US$20.6 billion in 2021, the market is projected to surge at a robust CAGR of 10.8% from 2022 to 2031, reaching a staggering US$56.3 billion by the end of 2031. Get Sample Copy of This Report at:

All 5 Releases


More Releases for Subsea

Subsea System Market Report to 2028 - Industry Analysis, Size, Share, Trends and …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- The Global Subsea System Market research contains a detailed examination of major geographical trends, market dynamics, and global market size estimates for the market industry. The Global Subsea System market has many participants, each with their own product description, classification, and industrial structure. The market research includes numbers from the previous time, as well as the future term and % CAGR evaluated for each segment and geographic
Subsea Systems Market May Set New Growth Story | Subsea 7 , Technip , FMC Techno …
A New business Strategy report released by HTF MI with title Global Subsea Systems Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025 . This Global Subsea Systems market report brings data for the estimated year 2019 and forecasted till 2025 in terms of both, value (US$ MN) and volume (MT). The report also consists of forecast factors, macroeconomic factors, and a market outlook of the Subsea
Subsea System Market In-depth Analysis 2019 to 2025 | Subsea 7, FMC Technologies …
QY Research indicates that the global Subsea System market is expected to surge at a steady rate in the coming years, as economies flourish. The research report, Subsea System market provides a comprehensive review of the global market. Analysts have identified the key drivers and restraints in the overall market. They have studied the historical milestones achieved by the global Subsea System market and emerging trends. A comparison of the
Global Subsea Vessel Market Research
Global Subsea Vessel Market Research based on the Subsea Vessel industrial chain, this Global Subsea Vessel Market Research mainly elaborate the definition, types, applications and major players of Subsea Vessel market in details. Deep analysis about market status (2013-2018), enterprise competition pattern, advantages and disadvantages of enterprise Products Get sample copy of report: https://www.marketdensity.com/contact?ref=Sample&reportid=6209 Table of Contents 1 Subsea Vessel Market Overview 1.1 Product Overview and Scope of Subsea Vessel 1.2 Subsea Vessel Segment
Global Subsea Systems Market 2018 - Subsea 7, Technip, GE Oil Gas
Apex Market Research, recently published a detailed market research study focused on the "Subsea Systems Market" across the global, regional and country level. The report provides 360° analysis of "Subsea Systems Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Subsea Systems industry, and estimates the future trend of Subsea Systems market
Global Subsea Pumps Market for Subsea Boosting, Subsea Separation, Subsea Compre …
"The Latest Research Report Subsea Pumps Market for Subsea Boosting, Subsea Separation, Subsea Compression, and Subsea Injection Applications - Size, Share, Growth, Trends and Forecast 2014 - 2020 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz" About Subsea Pumps Market Subsea pumping is one of the most common methods to enhance oil recovery from subsea oil and gas reservoirs. The use of subsea