Increasing offshore oil & gas industry is held as a key factor driving the subsea control market worldwide.
Portland, OR -- (SBWIRE) -- 08/11/2017 -- Subsea infrastructures have an important role to play in the evacuation of oil & gas obtained from drilling activities and onshore storage units. Furthermore, the subsea controllers work as a logistic support for offshore product sector. These systems include subsea oil & gas well access systems, subsea manifolds and trees. Moreover, such systems manage and monitor the network of oil & gas wells.
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Increasing offshore oil & gas industry is held as a key factor driving the subsea control market worldwide. Furthermore, a sudden growth in the oil product from different oil & gas well has also created a need for the use of strong Subsea Control equipment. Today, oil & gas sector is focusing more on developing different types of well, both new and mature. Inclination towards ultra deepwater and deep water environment, where theres a strong need for control systems to ensure safety is also driving the market worldwide. However, issues related to the production of such control systems especially for harsh underwater situations have hampered the market growth to a greater extent. Exploration of offshore hydrocarbon oil & gas reserves in Latin America is likely to present greater opportunities.
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The subsea control systems are segmented based on production technology, processing technology and geography. The production technology covered in the market research report includes SURF, subsea manifolds, subsea trees and subsea control systems. In addition, the processing technologies assessed during the study are subsea compression system, subsea boosting system, subsea injection systems and subsea separation systems. Regions such as North America, Europe, Asia -Pacific and LAMEA are expected to observe tremendous growth.
The key market players active in the industry are Cameron International, Aker Solutions, HCS Control Systems, General Electric Company, Zetechtics Ltd., KW Ltd. and FMC Technologies.