Dublin, March 9, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/rt2wtc/subsea_control) has announced the addition of the "Subsea Control Systems Market by Types, Application, Components & by Region- Global Trends and Forecasts to 2019" report to their offering.
The global subsea control systems market is expected to reach $6.47 billion industry by 2019, with a projected CAGR of around 8.5%, signifying a high demand for subsea control components in both developed and developing countries.
Subsea control systems are used for the efficient provisioning of the subsea production system. The control systems is directly associated with the subsea tree installations, and it is expected that up to 2,000 deepwater subsea installations are expected globally between the period 2014 and 2019. Deepwater installation activity is leading by regions like Europe, West Africa, and South America.
The increasing activities of oil production, especially in the offshore fields would increase the demand for subsea control systems in future. The oil companies are moving towards deepwater and ultra-deepwater where an effective and robust monitoring is highly necessary to ensure the oil production. As of now, demand for subsea control systems is highly concentrated in Brazil, West Africa, the Gulf of Mexico, and the North Sea. The spending on the subsea production is expected to increase from $45 billion in 2014 to $115 billion by 2019.
Europe holds the largest market share of 28.0% in the global subsea control systems market in 2013, and is expected to dominate the market in the next five years as well. Norway and the U.K. are the two major countries in the region which contributes more than 95% of the total European market. In South America, Brazil is the leading subsea nation and holds around 18.6% of the global market for subsea control systems in 2013.
With the increasing focus on offshore drilling in countries like India, Australia, and Malaysia, Asia-Pacific is considered to be the fastest growing market in the next five years. The figure below shows the subsea control systems market share by region in 2013.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Subsea Control Systems Market, By Types
8 Subsea Control Systems Market, By Components
9 Subsea Control Systems Market, By Applications
10 Subsea Control Systems Market, By Region
11 Competitive Landscape
12 Battle For Market Share: Contracts & Agreements Was The Key Strategy
13 Company Profiles
- Aker Solutions
- Dril-Quip, Inc.
- Expro
- Fmc Technologies Inc.
- Ge Oil & Gas Spa
- Halliburton Company
- Hitec Products
- Mnm View
- Oceaneering International, Inc.
- Onesubsea
- Proserv.
- Siemens Ag
- Weatherford International Ltd.
For more information visit http://www.researchandmarkets.com/research/rt2wtc/subsea_control