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:
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
Source:Research and Markets