Dublin, Oct. 21, 2013 (GLOBE NEWSWIRE) -- Research and Markets
(http://www.researchandmarkets.com/research/jkmqzm/subsea_power_grid)
has announced the addition of the
"Subsea Power Grid System Market Report 2013-2018" report to
their offering.
The global subsea power grid system market is witnessing decent
growth based on increased energy demand and large investments for
offshore oil field developments around the globe, especially in
Africa and Americas. Africa holds the major market share followed
by Latin America and Europe. In terms of components of the subsea
power grid system, the market is dominated by cables due to the
long distance connections of power consuming equipments on seabed
which makes it largest end used component of subsea power grid
systems.
Major players of this market are FMC Technologies Inc. (U.S.), ABB
Ltd (Switzerland), General Electrics Co. (U.S.), Aker Solutions ASA
(Norway), Cameron International Corp (U.S.), and Siemens AG
(Germany).
Most of these companies mainly relied on growth strategies such as
agreements and contracts, joint ventures and collaborations,
mergers and acquisitions, and expansions in diversified geographic
areas. The growing demand for technologically advanced power supply
solutions to the offshore equipments has prompted most of the
companies to launch highly innovative and integrated subsea power
grid solutions, thus inviting more supply contracts to improve
their market share.
The companies involved in subsea power grid solutions business are
thus expanding into emerging markets such as Africa and Latin
America. Technologically innovative and environmental friendly
power grid systems are the key strategies that are helping the
companies to maximize their revenue, for deeper market penetration
of the existing market, and expansion into the new and emerging
markets. Africa has the largest market due to the rapid growth of
offshore oil and gas infrastructure development. Africa represents
the major potential for subsea power grid system market
complemented by high investments in offshore field exploration and
production related developments.
Major
subsea power grid system components include cables, variable
speed drives, transformers, switchgears, and others (connectors,
sensors etc.). Cables are the largest components in terms of
revenue generating around half of the revenue. The major power
supply source for these power grid systems in subsea is captive
generation. The focus is also shifting towards renewable energy
sources such as offshore wind farms, tidal power, and solar energy.
Europe is implementing the largest offshore wind power generation
facility to supply power to the offshore equipments. The increasing
investment in offshore oilfields development is nourishing the
growth of subsea power grid system market in subsea and as a result
the market should continue to grow at a very significant
rate.
Key Topics Covered:
1 Introduction
2 Executive Summary
3 Premium Insights
4 Market Overview
5 Subsea Power Grid System Market, By Components
6 Subsea Power Grid System Market, By Power Supply
7 Subsea Power Grid System Market, By Geography
8 Competitive Landscape
9 Company Profiles
- ABB Ltd
- Aker Solutions ASA
- Bandak Group AS
- Cameron International Corp
- Dril-Quip Inc
- Expro International Group Holdings Limited
- FMC Technologies Inc
- General Electric Co
- JDR Cable Systems (Holdings) Ltd
- Nexans SA
- Norddeutsche Seekabelwerke Gmbh (NSW)
- Oceaneering International Inc
- Parker Hannifin Corporation
- Prysmian Group
- SIEM Offshore Contractors
- Schlumberger Limited
- Siemens AG
- Technip SA
For more information visit
http://www.researchandmarkets.com/research/jkmqzm/subsea_power_grid
Research and Markets
Laura Wood, Senior Manager.
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector:
Energy and Natural Resources