Report: Power Grid System Market In Subsea - Global Trends & Forecast To 2018
By Offshore Power (Captive Generation, Wind Power, Others), Components (Cables, Variable Speed Drives, Transformers, Switchgears, Others) and Geography
[UKPRwire, Mon Jul 15 2013] The report covers the global power grid system market in subsea which includes different components of subsea power grid system, types of power supply sources for subsea power grid system, and other related segments. It studies the extent of end use of subsea power grid solutions in different application areas with respect to different regions. It also analyses the market with respect to drivers, opportunities, and winning imperatives related to the industry.
The qualitative analyses of power grid system in subsea with respect to its concept, components, technical knowhow, innovations, and power supply sources are done in an elaborative manner. It mainly highlights the components such as cables, variable speed drives (VSDs), transformers, switchgears, others; and power supply sources such as captive generation, wind power, and other. The subsea power grids system are gaining worldwide importance as the oil field operators are heading towards deep and ultra deep waters for the hunt of oil and gas. In these deep waters a continuous power supply source is required in order to keep the various equipments such as pump, compressors, heating coils etc. running. Furthermore, the shifting focus towards renewable energy generation is also triggering the companies to generate energy from renewable sources such as offshore wind power, tidal power, and solar power. The demand of subsea power grid solutions is driven due to its necessity in transmission the power in offshore areas.
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The continuous depletion of existing oil reserves are forcing oilfield E&P companies to operate in deeper offshore environments making it a huge potential market for power grid system in subsea. According to BP statistical report, the worlds energy demand increased by 2.5% in 2011. To satisfy this increasing demand of oil and gas, oil companies are seeking to unlock the full potential of wells in deeper offshore environments. Hence, subsea power grid systems are vital to transmit the power to the required equipment.
The power grid system market in subsea is also analyzed with respect to the Porters five forces model. Different market forces such as bargaining power of suppliers, bargaining power of buyers, degree of competition, and threat from substitutes and new entrants are analyzed with respect to the subsea power grid industry. This report also provides insights about the patent analysis by various market players for last three years and the market share analysis for different regions including Americas, Europe, Asia-Pacific, Middle East, and Africa. There are very few market players which lead the major market share. Africa represents the largest market supplemented by the rapid development of offshore fields. In Europe, there are few players with significant market share. Markets in other regions are currently emerging and industry is operated by companies based in these regions.
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