Offshore Gas Exploration Projects to Fan Demand in Subsea Control Systems Market

An uptick in offshore exploration activities will boost the growth of the global subsea control systems market, says Transparency Market Research in a new report. The report is titled, ‘Subsea Control Systems Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 – 2020.’ The tremendous growth potential exhibited by the offshore oil and gas exploration and production industry has benefited the subsea control systems market, and will likely continue to in the near future.

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Subsea control systems for an indispensable part of subsea infrastructure, which is deployed for evacuating oil and gas from the offshore drilling site to the storage terminal, which is usually onshore. Seamless logistical co-ordination is a prerequisite at drilling sites, and subsea control systems help meet this end. Such a system would typically comprise well access systems, manifolds, and trees, all installed underwater. These components together help carry out functions such as the injection of water or chemicals into subsea wells and the gas distribution from the network of wells. A suite of proprietary communication protocols and software helps subsea control systems run smoothly. Many of these protocols need to be tailored specifically to the needs of the subsea project.

With an increased emphasis on deepwater and ultra-deepwater exploration projects, the need for failsafe subsea control systems also increases. The key challenge with deepwater exploration is that production platforms cannot easily be installed in the seabed. This necessitates the installation of a subsea control system instead.

However, manufacturing robust subsea systems is a difficult process and carries a high risk of failure. This could pose a major challenge for companies operating in the subsea control systems market. Investments in the offshore exploration and drilling sector have made this space extremely lucrative for companies in the subsea control systems market.

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From the regional perspective, the recently discovered hydrocarbon-rich reserves in the Latin American region will attract more investments from oil and gas exploration companies. This, in turn, will spur the demand for subsea control systems. In Latin America, Brazil will be an especially attractive market. Similarly, Africa is home to numerous unexplored offshore gas wells, which will be exploited in the coming years. On account of this projected development, it is expected that countries in Africa will also show a heightened demand for subsea control systems.

Players that have been profiled in the report to create a clear picture of the competitive scenario are: General Electric Company, Aker Solutions, Zetechtics Ltd., FMC Technologies, HCS Control Systems, KW Ltd., and Cameron International.

The report segments the global subsea control systems market based on the depth of operations into: Deepwater, shallow water, and ultra deepwater. In terms of application, the market for subsea control systems is divided into: Gas production, gas lift injection, oil production, and water injection.

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