Market Overview:
The global oil and gas subsea power grid market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for oil and gas across the globe. Additionally, the growing investment in offshore production facilities, drilling rigs, and floating production systems are also contributing to the growth of this market. The global oil and gas subsea power grid market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into variable speed drivers, transformers, switch gear, power cables connectors etc. The application segment includes production facilities drilling rigs floating production system etc.
Product Definition:
An oil and gas subsea power grid is a network of cables, pipelines and other infrastructure used to transmit electrical power from onshore facilities to offshore production platforms, drilling rigs and other installations in the petroleum industry. The importance of oil and gas subsea power grids lies in their ability to provide a reliable source of electricity for these remote facilities, which can be located dozens or even hundreds of miles from the coast.
Variable speed drivers:
The global variable speed drivers market is expected to witness significant growth over the forecast period. The market growth can be attributed to factors such as growing demand for electrical energy in emerging economies, increasing offshore wind farms and government initiatives towards sustainable development.
Increasing oil & gas production coupled with rising power consumption in this sector is anticipated to drive the overall industry demand over the next six years.
Transformers:
Transformer is an electrical device that changes the direct current (DC) to Alternating Current (AC). It's used in power grids for transforming the generated power into a varied of different waveforms suitable for distribution. Transformers are essential components of any Subsea Power Grid (SPSG) system as they help in increasing/ decreasing voltage levels and frequency, thus ensuring efficient operation of equipment installed on the installation site.
Application Insights:
The production facilities segment dominated the global oil and gas subsea power grid market in 2017. This can be attributed to the growing need for electricity generation at onshore wind energy farms, coal-fired power plants, solar photovoltaic (PV) panels and natural gas turbine stations. The production facilities segment is expected to witness significant growth over the forecast period owing to its requirement in numerous onshore oil fields as well as offshore platforms.
Offshore platforms are also anticipated to contribute significantly toward revenue growth over the forecast period due largely to their rising demand for electrical equipment that provides protection against high sea water pressure as well as enables communication with shore offices through fiber optic lines. Furthermore, increasing use of robotics at offshore platforms is further expected drive industry expansion during future years.
Regional Analysis:
Asia Pacific region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The regional growth can be attributed to increasing demand for electricity from countries such as China, India, South Korea, Japan and Indonesia. In addition, rising offshore drilling activities in countries such as Vietnam and Philippines are anticipated to drive market growth over the next eight years.
North America is estimated to witness significant growth over the coming years owing to technological advancements coupled with growing exploration activities off of Canada's East coast. Europe also has a promising outlook due high consumption levels of energy across major economies including Germany and France along with other smaller nations within that region including Andorra, San Marino & Uckland Islands (SMU), Gibraltar (GIBS) and Vatican City State (Holy See). Technological developments have led authorities across these regions into developing subsea power grids which would otherwise be inaccessible thereby opening up new opportunities for market players operating within those regions at a later stage.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising investment in subsea infrastructure development
- Proliferation of new energy sources such as wind and solar, which will require more transmission capacity from offshore installations
- Development of new technologies that can reduce the cost of subsea power grid systems
- Growing concern over climate change and the need to reduce greenhouse gas emissions
Scope Of The Report
Report Attributes
Report Details
Report Title
Oil and Gas Subsea Power Grid Market Research Report
By Type
Variable speed drivers, Transformers, Switch gear, Power cables, Connectors
By Application
Production facilities, Drilling rigs, Floating production system
By Companies
Expro International, Subsea Technology, GE, Aker Solutions, Dril-Quip, Siemens, Cameron International, FMC Technology, ABB, Schneider Electric
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Oil and Gas Subsea Power Grid Market Report Segments:
The global Oil and Gas Subsea Power Grid market is segmented on the basis of:
Types
Variable speed drivers, Transformers, Switch gear, Power cables, Connectors
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Production facilities, Drilling rigs, Floating production system
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Expro International
- Subsea Technology
- GE
- Aker Solutions
- Dril-Quip
- Siemens
- Cameron International
- FMC Technology
- ABB
- Schneider Electric
Highlights of The Oil and Gas Subsea Power Grid Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Variable speed drivers
- Transformers
- Switch gear
- Power cables
- Connectors
- By Application:
- Production facilities
- Drilling rigs
- Floating production system
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Oil and Gas Subsea Power Grid Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Oil and gas subsea power grid is a network of offshore substations that provide electricity to oil and gas production platforms. The system typically consists of three interconnected subsea cables, each with a capacity of 500 megawatts (MW).
Some of the key players operating in the oil and gas subsea power grid market are Expro International, Subsea Technology, GE, Aker Solutions, Dril-Quip, Siemens, Cameron International, FMC Technology, ABB, Schneider Electric.
The oil and gas subsea power grid market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil and Gas Subsea Power Grid Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Oil and Gas Subsea Power Grid Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Oil and Gas Subsea Power Grid Market - Supply Chain
4.5. Global Oil and Gas Subsea Power Grid Market Forecast
4.5.1. Oil and Gas Subsea Power Grid Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Oil and Gas Subsea Power Grid Market Size (000 Units) and Y-o-Y Growth
4.5.3. Oil and Gas Subsea Power Grid Market Absolute $ Opportunity
5. Global Oil and Gas Subsea Power Grid Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Type
5.3.1. Variable speed drivers
5.3.2. Transformers
5.3.3. Switch gear
5.3.4. Power cables
5.3.5. Connectors
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Oil and Gas Subsea Power Grid Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Application
6.3.1. Production facilities
6.3.2. Drilling rigs
6.3.3. Floating production system
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Oil and Gas Subsea Power Grid Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Oil and Gas Subsea Power Grid Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Oil and Gas Subsea Power Grid Demand Share Forecast, 2019-2026
9. North America Oil and Gas Subsea Power Grid Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Application
9.4.1. Production facilities
9.4.2. Drilling rigs
9.4.3. Floating production system
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Type
9.7.1. Variable speed drivers
9.7.2. Transformers
9.7.3. Switch gear
9.7.4. Power cables
9.7.5. Connectors
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Oil and Gas Subsea Power Grid Demand Share Forecast, 2019-2026
10. Latin America Oil and Gas Subsea Power Grid Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Application
10.4.1. Production facilities
10.4.2. Drilling rigs
10.4.3. Floating production system
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Type
10.7.1. Variable speed drivers
10.7.2. Transformers
10.7.3. Switch gear
10.7.4. Power cables
10.7.5. Connectors
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Oil and Gas Subsea Power Grid Demand Share Forecast, 2019-2026
11. Europe Oil and Gas Subsea Power Grid Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Application
11.4.1. Production facilities
11.4.2. Drilling rigs
11.4.3. Floating production system
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Type
11.7.1. Variable speed drivers
11.7.2. Transformers
11.7.3. Switch gear
11.7.4. Power cables
11.7.5. Connectors
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Oil and Gas Subsea Power Grid Demand Share, 2019-2026
12. Asia Pacific Oil and Gas Subsea Power Grid Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Application
12.4.1. Production facilities
12.4.2. Drilling rigs
12.4.3. Floating production system
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Type
12.7.1. Variable speed drivers
12.7.2. Transformers
12.7.3. Switch gear
12.7.4. Power cables
12.7.5. Connectors
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Oil and Gas Subsea Power Grid Demand Share, 2019-2026
13. Middle East & Africa Oil and Gas Subsea Power Grid Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Application
13.4.1. Production facilities
13.4.2. Drilling rigs
13.4.3. Floating production system
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Oil and Gas Subsea Power Grid Market Size and Volume Forecast by Type
13.7.1. Variable speed drivers
13.7.2. Transformers
13.7.3. Switch gear
13.7.4. Power cables
13.7.5. Connectors
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Oil and Gas Subsea Power Grid Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Oil and Gas Subsea Power Grid Market: Market Share Analysis
14.2. Oil and Gas Subsea Power Grid Distributors and Customers
14.3. Oil and Gas Subsea Power Grid Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Expro International
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Subsea Technology
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. GE
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Aker Solutions
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Dril-Quip
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Siemens
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Cameron International
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. FMC Technology
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. ABB
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Schneider Electric
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook