The global power grid system market in subsea is projected to reach USD 14.8 billion by 2027 from an estimated USD 9.1 billion in 2022, at a CAGR of 10.2% during the forecast period. Subsea power grid comprise of several components such as cables, transformers, variable speed drives, switchgears, and others used for various applications such as captive generation, offshore wind power, and other applications. Favorable government policies for offshore renewable power production, especially using wind energy along with urgent need to reduce carbon emissions and improve grid reliability and efficiency is expected to drive the demand for subsea power grid systems. Easy access of wind turbine technology to offshore locations are expected to offer lucrative opportunities for the power grid system market in subsea during the forecast period.
Power grid system market in subsea is mainly driven by growing demand for energy and increasing investment in offshore infrastructure. High rate of exploration and production of offshore oil wells and thriving investment in oil fields developments in deeper waters, is the major growth engine for this market. African region is the largest end user market for subsea power grid services and solutions and is expected to continue with the same trend. Subsea and offshore industry acts as the parent market of power grids system market in subsea. Its growth and demand is highly influenced by the parent market. Capital spending of the subsea has significantly increased, which clearly depicts the growth of the subsea sector globally. Subsea equipment like compressors, boosters, etc., requires power supply for various subsea exploration processes, and this is provided by the subsea power grid system, which is quite essential in order to have an efficient subsea operation.
[241 Pages Report] Power Grid System Market in Subsea report categorizes the global market by Offshore Power Supply (Captive Generation, Wind Power, Others) by Components (Cables, Variable Speed Drives, Transformers, Switchgears, Others) & by Geography-A PPT
Power And Control Cable Market Size By Product (Power Cable, Control Cable), By Voltage (HV, MV, LV (LV Power, LV Control)), By Application (Utilities, Industrial (Power Plants, Oil & Gas, Cement)), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, France, Turkey, Germany, Russia, China, India, Japan, South Korea, Australia, Saudi Arabia, UAE, South Africa, Egypt, Brazil, Argentina, Peru), Price Trends, Competitive Market Share & Forecast, 2017 – 2024
The global power generation, transmission and control manufacturing market was valued at around $433 billion in 2017. Read More: https://www.thebusinessresearchcompany.com/report/power-generation-transmission-and-control-manufacturing-global-market-report-2018
This report analyzes the subsea production and processing systems market by types of technologies of production systems & processing systems, and geography. Complete report available @ http://www.rnrmarketresearch.com/subsea-production-processing-systems-market-by-technologycomponents-subsea-umbilicals-risers-flowlines-trees-control-modules-manifolds-types-boosting-injection-separation-compression-market-report.html .
This report estimates the floating production systems market in terms of volume and value. The volume market is estimated in terms of number of orders booked per year and value in terms of contract value. Complete report available @ http://www.rnrmarketresearch.com/floating-production-systems-market-by-types-fpso-tlp-spar-barge-others-water-depth-shallow-deep-and-ultra-deep-build-new-and-converted-geography-global-trends-and-forecasts-to-2018-market-report.html .
AC power systems are gaining traction as the backbone of distribution and transmission networks globally. This is proving to be beneficial for the business of Europe HVAC cables manufacturers, given the escalating demand for clean energy and reliable cable designs for subsea distribution and transmission systems.
the global cable market size was approximately $145 billion in 2022 and is projected to grow at a CAGR of 6.2% from 2023 to 2030, reaching over $225 billion.
Key participants functioning across the ESP industry include Borets International, Schlumberger, Weatherford, Halliburton, General Electric, Ebara, Flowserve Corporation, Atlas Copco, Grundfos Holding, Wilo SE, Sulzer, Novomet-Perm, Crompton Greaves and Tsurumi Manufacturing.
Pesco International - PESCO, We Provide Professional Installation Services for Gas Turbines, Steam Turbines, Generators, Switch Gears, Power Transformers, Compressors. For more details visit our website https://www.pesco-int.com or Call Now @ +971 2 679 9525
Pesco International - PESCO, We Provide Professional Installation Services for Gas Turbines, Steam Turbines, Generators, Switch Gears, Power Transformers, Compressors. For more details visit our website https://www.pesco-int.com or Call Now @ +971 2 679 9525
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The growing demand for power, lack of grid stability and support, events, tendency to rent instead of buying, especially in African countries, are acting as the drivers for the power rental market.