Subsea Power Grid Market to Undertake Strapping Growth During 2020

Offshore oil and gas exploration activities need failsafe power supply and in massive quantities at that. This has increased the reliance of exploration companies on subsea power grids, creating a profitable window of opportunities for companies in the subsea power grid market. This report studies the other high-impact drivers that will prompt greater investments in subsea power grids, thus helping the market grow rapidly. The energy requirements of deepwater exploration operations are especially high and critical considering that these operations are typically carried out in harsh conditions.

Read Report Overview @

The growth of the global subsea power grid market is expected to run parallel to that of offshore oil exploration activities across the world. For the purpose of this study, the global subsea power grid market has been segmented based on the source of power generation, components used in the power grid, and geography. By power grid components used, the market has been segmented into variable speed drives, subsea transformers, and switchgears. Likewise, based on the source of power generation, the market has been divided into wind power, captive power, and other sources (mainly tidal).

From the standpoint of geography, markets in the following regions are studied: Asia Pacific, North America, Europe, and Rest of the World.

Overview of the Global Subsea Power Grid Market

The report projects healthy growth for the global subsea power grid market through the current decade. According to the report’s authors, the increased pace of offshore oil and gas exploration activities in Latin America and Africa are expected to provide a massive push to the overall subsea power grid market. A look at the current market dynamics reveals that exploration companies are currently exploring investment opportunities to invest in power supply solutions for offshore, deepwater locations.

On the subject of market drivers, the report notes that depleting onshore oil and gas reserves have compelled companies to look at offshore reserves – this is expected to augur well for the subsea power grid market. Moreover, the deployment of renewable energy sources at offshore locations improves the feasibility of supplying power through subsea power grids, acting as a driver for the global subsea power grids market.

The report predicts that the growth of the subsea power grid market in North America will grow only marginally but the scenario in Latin America and Africa will be contrasting given the frenzied drilling and exploration activities occurring here. In Europe, as well, investments are flowing into the oil and gas sector in Norway. Ambitious offshore wind farm projects in Europe will also support the growth of the subsea power grid market in this region.

Even so, growth could be hampered by the high operational risks involved in deploying, maintaining, and upgrading subsea power grids. This factor also adds to the cost of deploying subsea power grids, acting against the market’s growth.

Request to view Sample Report:

Companies Profiled in the Report

The report on the subsea power grid market carries a competitive analysis by profiling the following companies: FMC Technologies Inc., Cameron International Corporation, Aker Solutions ASA, Technip SA, Siemens AG, and General Electric Company.




About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com


Comments

Post a Comment

Popular posts from this blog

Sodium Cocoyl Isethionate Market to Undertake Strapping Growth During 2026

The global sodium cocoyl isethionate market was valued at US$ 137.8 Mn in 2017 and is anticipated to expand at a CAGR of 5.3% from 2018 to 2026, according to a new report titled ‘Sodium Cocoyl Isethionate Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). Rise in consumer preference for sulfate-free skin friendly products is likely to propel the demand for sodium cocoyl isethionate during the forecast period. Read Report Overview @ https://www.transparencymarketresearch.com/sodium-cocoyl-isethionate-market-2018-2026.html Increase in Demand for Sulfate-free Formulations in Personal Care Products to Drive Market Sodium cocoyl isethionate is a mild surfactant that offers excellent detergent properties. It is mild on the skin and leaves a soft after-feel. Extensive usage of sodium cocoyl isethionate as mild surfactant in hair care and skin care products has created oppor...
Keep reading

High-performance Anti-corrosion Coatings Market to Record an Exponential CAGR by 2024

The global high-performance anti-corrosion coatings market was valued at US$ 12.60 Bn in 2017 and is anticipated to expand at a CAGR of 5.9% from 2018 to 2026, according to a new report titled ‘High-performance Anti-corrosion Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global high-performance anti-corrosion coatings market is driven by growth of the global oil & gas industry. Asia Pacific accounts for a major share of the global market, due to growth of construction, marine, and oil & gas industries in the region. Read Report Overview @ https://www.transparencymarketresearch.com/high-performance-anticorrosion-coatings-market.html The number of oil & gas drilling and exploration activities has increased in the last few years. The Gulf of Mexico, Southeast Asia, and North Sea are currently rich in oil & gas resources and they have a large ...
Keep reading

Tattoo Inks Market to Undertake Strapping Growth During 2026

Submitted 1 sec ago by  TMR Market research . The global tattoo inks market was valued at US$ 122.25 Mn in 2017. It is anticipated to expand at a CAGR of 5.55% from 2018 to 2026, according to a new research report titled ‘Tattoo Inks Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) The global tattoo inks market is driven by rise in the popularity of tattoos among youngsters worldwide. In terms of demand, North America accounts for a dominant share of the global tattoo inks market. Read Report Overview @ https://www.transparencymarketresearch.com/tattoo-inks-market.html Rise in Demand for Tattoos among Youngsters to Boost Market Tattooing is an increasing fashion phenomenon that has attracted more than 100 million young adults across the globe to date. According to the Council of Europe, one in five individuals in the U.K. is tattooed. The figure rises to one in thre...
Keep reading