Global Oil and Gas Subsea Power Grid Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023

Industry : Energy And PowerPublished Date : February 6th, 2018
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The Global Oil and Gas Subsea Power Grid Market is expected to increase from 1.26 billion USD in 2016, to 3.75 billion USD in 2023, at a CAGR of 10.22% from 2017 to 2023. The overall demand of Oil and Gas Subsea Power Grid have increased in recent years, this is mainly due to the rise in offshore oil and gas exploration activities along with the increasing energy demand. The years used for the assessment are as follows;

  • Historical year   : 2013-2015
  • Base year            : 2016
  • Forecast period : 2017 – 2023

RESEARCH METHODOLOGY

The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year Impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the total oil and gas subsea power grid market and its various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the oil and gas subsea power grid market
  • Finalizing the overall size and share of the global oil and gas subsea power grid market 

OBJECTIVES:

To provide a historical, current, and future forecast of the market size in terms of revenue and volume

  • To classify and forecast the growth prospect of the global Oil and Gas Subsea Power Grid market on the basis of products, application, and region
  • To identify and analyze opportunities for stakeholders in the oil and gas subsea power grid market
  • To forecast the impact of trends, opportunities, drivers and restraints on the global oil and gas subsea power grid market To study value chain analysis on the supply as well as the demand side
  • To understand major policy changes and regulations impacting global oil and gas subsea power grid market
  • To identify and analyze opportunities for the new entrants in the oil and gas subsea power grid market
  •  To profile key companies operating in the global oil and gas subsea power grid market and provide their competitive landscape
  • To study market response with respect to the mergers and acquisitions in the industry

MARKET SCOPE

The research scope for global Oil and Gas Subsea Power Grid market is as follows:

By Component

  • Variable Speed Drive
  • Transformers
  • Switch Gears
  • Power Cables
  • Connectors
  • Others 

By Configuration

  • Topside/Shore
  • Seabed

By End User

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

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa (MEA)
  • Rest of the World (RoW)

The oil and gas subsea power grid market is expected to grow at a significant rate during the forecast period. The factor propelling the growth of oil and gas subsea power grid market is the increase in the offshore exploration activities. Moreover, the ability of subsea production facility to provide a cost-effective production of oil and gas from offshore well have brought about investments in the subsea power grid market. Further, the rise in power load of subsea production facilities is augmenting the growth of the oil and gas subsea power grid market in the years to come.

A network of interconnected variable speed drives, power cables, transformers and switchgear forms subsea power grid system. The future of oil and gas industry lies in the development of complex reserves. The subsea processing system is a cost-effective solution to the production of oil and gas from the offshore wells. The oil and gas subsea power grid is quintessential to power the subsea processing equipment such as a subsea compressor, pumps and motors among others. Oil and gas subsea power grid not only promises the uninterrupted power supply to the subsea processing facilities but also accounts for the increasing power requirement of these processing facilities.

The oil and gas industry has always brought forward one of the most challenging engineering problems. Many engineering solution providers have accepted these challenges and have become technology pioneer. The subsea power grid is one such challenge. The oil and gas industry has faced many barriers in bringing power offshore. The power generation and distribution is vital for subsea production facilities. The oil and gas companies are now interested in pushing the subsea power grid technology to operate remotely at ultra-deep sea level. The technology pioneer such as ABB has teamed up with oil and gas conglomerates such as Statoil under joint industry program to develop subsea power grid solution. Similar programs have been adopted by other companies as well. A pocket of opportunity lies in the development of seabed power grid system.

Geographically, the oil and gas subsea power grid is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Rest of the World. The African region with huge CAPEX in subsea oil and gas operation is the leading subsea power grid market. African region with huge oil and gas reserves have drawn the attention of oil and gas major to bring about investments in the region. The South American region is the second largest oil and gas subsea power grid market. The growth of oil and gas subsea power grid market in the region is propelled by the capital investments in subsea completions. European, oil and gas subsea power grid market is driven by the investments in research and development programs initiated by governments and companies coupled with the heavy offshore infrastructure development of in the region.

The key players dealing in the oil and gas subsea power grid market are ABB, Siemens, Aker Solutions, General Electric, Subsea Technology Group AS, Cameron International Corporation, FMC Technology, Schneider Electric, Expro International Group Holdings Limited and Drill-Quip Inc.

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Market Definition

1.2. Market Segmentation

1.2.1. Market Breakdown, By Components

1.2.2. Market Breakdown, By Configuration

1.2.3. Market Breakdown, By End User

1.2.4. Market Breakdown, By Region

1.3. Research Methodology

1.4. Executive Summary

CHAPTER 2. Market Outlook

2.1. Introduction

2.2. Market Outlook

2.2.1. Opportunities

2.2.1.1. Development of seabed power grid

2.2.1.2. Development of power system components operating at high sea depth

2.2.2. Trends

2.2.2.1. Rising CAPEX on subsea oil and gas facilities

2.2.2.2. Marinization of existing equipment and technology

2.2.2.3. Increasing use of subsea processing system in oil and gas production

2.2.3. Growth Drivers

2.2.3.1. Increasing deep-sea oil and gas operations

2.2.3.2. High reliability and minimum maintenance cost

2.2.3.3. Increasing energy demand

2.2.3.4. Rise in subsea power load

2.2.4. Impact Analysis of Drivers on Future Forecast of the Market

2.2.5. Restraints of the Market

2.2.5.1. Disinvestments by countries in oil and gas

2.2.5.2. Volatile oil and gas prices

2.2.6. Impact Analysis of Restrains on Future Forecast of the Market

CHAPTER 3. Market Entry Strategy

3.1. PESTLE Analysis

3.2. Value Chain Analysis

3.3. Competitive Analysis

3.3.1. Company Market Share Analysis

3.3.2. Porter’s Five Forces Analysis

CHAPTER 4. Global Oil and Gas Subsea Power Grid Market Forecast (2013-2023)

4.1. Global Oil and Gas Subsea Power Grid Market, By Component

4.1.1.1. Variable Speed Drives

4.1.1.2. Transformers

4.1.1.3. Switch Gears

4.1.1.4. Power Cables

4.1.1.5. Connectors

4.1.1.6. Others

4.2. Global Oil and Gas Subsea Power Grid Market By Configuration

4.2.1. Topside/Shore

4.2.2. Seabed

4.3. Global Oil and Gas Subsea Power Grid Market By End User

4.3.1. Production Facilities

4.3.2. Drilling Rigs

4.3.3. Floating Production System

4.3.4. Others

4.4. Global Oil and Gas Subsea Power Grid Market By Region

4.4.1. North America

4.4.2. Europe

4.4.3. Asia-Pacific

4.4.4. Middle East and Africa (MEA)

4.4.5. Rest of the World (RoW)

CHAPTER 5. Global Oil and Gas Subsea Power Grid Market By Geography

5.1. North America Oil and Gas Subsea Power Grid Market

5.1.1. North America Oil and Gas Subsea Power Grid Market By Component

5.1.2. North America Oil and Gas Subsea Power Grid Market By Configuration

5.1.3. North America Oil and Gas Subsea Power Grid Market By End User

5.1.4. North America Oil and Gas Subsea Power Grid Market By Country

5.1.4.1. The U.S.

5.1.4.2. Canada

5.1.4.3. Mexico

5.2. Europe Oil and Gas Subsea Power Grid Market

5.2.1. Europe Oil and Gas Subsea Power Grid Market By Component

5.2.2. Europe Oil and Gas Subsea Power Grid Market By Configuration

5.2.3. Europe Oil and Gas Subsea Power Grid Market By End User

5.2.4. Europe Oil and Gas Subsea Power Grid By Country

5.2.4.1. Norway

5.2.4.2. U.K.

5.2.4.3. Russia

5.2.4.4. Rest of Europe

5.3. Asia-Pacific Oil and Gas Subsea Power Grid Market

5.3.1. Asia-Pacific Oil and Gas Subsea Power Grid Market By Component

5.3.2. Asia-Pacific Oil and Gas Subsea Power Grid Market By Configuration

5.3.3. Asia-Pacific Oil and Gas Subsea Power Grid Market By End User

5.3.4. Asia-Pacific Oil and Gas Subsea Power Grid Market By Country

5.3.4.1. Australia

5.3.4.2. India

5.3.4.3. Malaysia

5.3.4.4. China

5.3.4.5. Rest of Asia-Pacific

5.4. Middle East and Africa (MEA) Oil and Gas Subsea Power Grid Market

5.4.1. MEA Oil and Gas Subsea Power Grid Market By Component

5.4.2. MEA Oil and Gas Subsea Power Grid Market By Configuration

5.4.3. MEA Oil and Gas Subsea Power Grid Market By End User

5.4.4. MEA Oil and Gas Subsea Power Grid Market By Country

5.4.4.1. Nigeria

5.4.4.2. UAE

5.4.4.3. Saudi Arabia

5.4.4.4. Abu Dhabi

5.4.4.5. Angola

5.4.4.6. Rest of MEA

5.5. Rest of the World (RoW) Oil and Gas Subsea Power Grid Market

5.5.1. RoW Oil and Gas Subsea Power Grid Market By Component

5.5.2. RoW Oil and Gas Subsea Power Grid Market By Configuration

5.5.3. RoW Oil and Gas Subsea Power Grid Market By End User

5.5.4. RoW Oil and Gas Subsea Power Grid Market By Country

5.5.4.1. Brazil

5.5.4.2. Argentina

5.5.4.3. Rest of the Rest of World (RoW)

CHAPTER 6. Key Players and Strategic Developments

6.1. ABB

6.1.1. Business Overview

6.1.2. Product and Service Offerings

6.1.3. Financial Overview

6.1.4. Strategic Developments

6.2. Siemens

6.2.1. Business Overview

6.2.2. Product and Service Offerings

6.2.3. Financial Overview

6.2.4. Strategic Developments

6.3. Aker Solutions

6.3.1. Business Overview

6.3.2. Product and Service Offerings

6.3.3. Financial Overview

6.3.4. Strategic Developments

6.4. General Electric

6.4.1. Business Overview

6.4.2. Product and Service Offerings

6.4.3. Financial Overview

6.4.4. Strategic Developments

6.5. Subsea Technology Group AS

6.5.1. Business Overview

6.5.2. Product and Service Offerings

6.5.3. Financial Overview

6.5.4. Strategic Developments

6.6. Cameron International Corporation

6.6.1. Business Overview

6.6.2. Product and Service Offerings

6.6.3. Financial Overview

6.6.4. Strategic Developments

6.7. FMC Technology

6.7.1. Business Overview

6.7.2. Product & Service Offerings

6.7.3. Financial Overview

6.7.4. Strategic Developments

6.8. Schneider Electric

6.8.1. Business Overview

6.8.2. Product and Service Offerings

6.8.3. Financial Overview

6.8.4. Strategic Developments

6.9. Expro International Group Holdings

6.9.1. Business Overview

6.9.2. Product and Service Offerings

6.9.3. Financial Overview

6.9.4. Strategic Developments

6.10. Drill-Quip Inc.

6.10.1. Business Overview

6.10.2. Product and Service Offerings

6.10.3. Financial Overview

6.10.4. Strategic Developments

6.11. Abbreviation

Global Oil and Gas Subsea Power Grid Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation Forecast 2023