Subsea control system aims at dealing with challenging subsea environment. It also receives and transmits the data between the surface and subsea. The data so acquired is used by engineers to monitor the subsea production operations in all climate and water depths. There are many deciding factors which impact the selection of any subsea control system such as the distance between the control points, water depth, and required speed of response during the execution of subsea functions.

Global Subsea Control Systems market is expected to witness a significant growth during the forecast period growing offshore oil & gas sector and recent trend in deepwater & ultra-deepwater production. Various major oil & gas companies across the world are investing in their respective subsea business in order to attain profitability. For instance, in May 2018, Baker Hughes (GE Company) invested around USD 62.4 million in order to increase its footprint in the North East of Scotland. Similarly, Rovco (UK), one of the major subsea services company, is also rapidly growing its share of its global subsea market after making investment of USD 15.3 million.

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Industry Highlights

Recent trends of deepwater and ultra-deepwater production will drive the subsea control systems market. Moreover, need for the replacement of shallow water basin and rapid discovery of hydrocarbon reserves present significant opportunities for subsea control systems market. Also, developing markets of Asia-Pacific offers many opportunities to subsea control systems market as Asia-Pacific is reducing its dependency on imported oil & gas by upscaling its local offshore exploration and production activities. For instance, in April 2018, Google Inc. expanded its Asia Pacific cloud network with new subsea cables of 9,500 km installed undersea. This project is expected to be completed by the last quarter of 2019.

Key Players:

The key players of global subsea control systems market are FMC Technologies Inc. (US), Halliburton (US), GE Oil & Gas Spa (US), Aker Solutions ASA (Norway), OneSubsea (US), Baker Hughes (US), Kongsberg Gruppen (Norway), Proserve Group Inc. (UK), Oceaneering International, Inc. (US), Siemens AG (Germany), Weatherford International (US), and Hitec Products (Norway), among others.

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Regional Outlook

Region wise, Europe held the largest market share of the global subsea control systems market in 2017. The countries contributing to the largest market share of the region include UK and Norway. The demand for subsea control systems, especially in these countries is highly attributed to the increasing deepwater drilling activities in the region along with increasing subsea spending in these countries. These factors are driving the demand for Subsea control systems in this region.

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