Transparency Market Research has published a new report "Subsea Electric Power Distribution Market - Global Industry Analysis, Size, Share, Trends, Growth and Forecast 2015 - 2023" to its report store.
Albany, NY -- (SBWIRE) -- 10/01/2015 -- Electric power distribution facilities in subsea locations are very different than those observed in offshore facilities or locations situated on land. Subsea locations are point to point electrical distribution systems and have a very limited set of routing alternatives. It is for the highly innovative, technically complex, and advanced power distribution systems made for subsea locations that the capabilities of some deep water oil and gas reserves are fully exploited.
Browse Subsea Electric Power Distribution Market Report with Full TOC at http://www.transparencymarketresearch.com/subsea-electric-power-distribution-market.html
Global subsea electrical power distribution systems market enable the proper supply of all electrical loads to subsea drilling, exploration, and other activities, using one single power cable. The typical elements of a subsea electric power distribution system include installation equipment, transformers, and subsea frequency convertors. For ensuring reliability, the equipment is usually kept enclosed in a liquid filled tank.
Existing Subsea Electric Power Distribution Systems
The electric power distribution solutions for subsea locations currently available in the market require the use of one cable dedicated to each pump or compressor (electricity consumer). As such, a major portion of costs incurred in deploying a subsea electric power distribution system is formed by the cost of cables used. Thus, cables represent an important segment that exhibits impressive opportunities for reducing the overall cost of any subsea electric power distribution system.
Subsea electrical power distribution systems enable the effective transmission, distribution, and control of electric power as per the subsea situations. The need for high voltage power supply in the megawatt range and availability of distribution system closer to the end-user system are facilitated by specially designed subsea power distribution systems. The use of lesser number of on-load and start-up motors in subsea power distribution systems lead to reduction in the several problems caused by resonance and harmonics.
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Maturing Onshore Oil and Gas Reserves to Boost Subsea Exploration Activities
Across the globe, a rising number of onshore oil and gas reserves are nearing maturity and some have already matured. On the other hand, the ever increasing demand for oil and gas products from the global population, which again is rising at an extreme pace, presents the dire need to look for newer oil and gas reserves. Hence, leading oil and gas industries have focused their attention at potential deep seawater or subsea oil and gas reserves.
In the next few years, subsea exploration activities are projected to increase at a swift pace across the globe. With the expansion of subsea oil and gas exploration market in the future, subsidiary markets such as subsea boosting systems and subsea electrical power distribution system will also embark upon a good growth path.
Rising Demand in Latin America Presents Huge Growth Opportunities
The market is observing increased attention and adoption from the subsea oil and gas production regions of Africa, Middle East, and Latin America. The rising investment in the field of subsea exploration and production in these regions is expected to create significant growth opportunities for the global market for subsea electrical power distribution systems in the coming years. Latin America especially represents one of the most lucrative regions for the global subsea exploration and production market and for its supplementary markets.
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