Subsea electrical power distribution differs from a topside system by being a point to point system with limited routing alternatives. Some deep water oil and gas reservoirs would not have been fully exploited without the help of subsea systems. Subsea electrical power distribution enables supply of all electrical loads using one single power cable. Subsea electrical power distribution system consist of subsea transformer, subsea frequency convertor and installation equipment. To ensure reliability, the equipment is enclosed in a liquid filled tank. Existing electrical power distribution solutions require one dedicated cable for each consumer (pump or compressor). Cables constitute a major cost driver for subsea processing systems and cost can be reduced by subsea power distribution. The cost reduction depends on the distance and required electrical power. The subsea electrical power distribution technology will also enable the transmission of electrical power over long distances. The subsea electrical power distribution system is important for the development of remote fields located far from the offshore infrastructure. Subsea electrical power distribution system enables to transmit, distribute and control electrical power in the megawatt range. Subsea electrical power distribution system enables electrical power to be transmitted at high voltage and the distribution system to be close to the end consumer. Subsea electrical power distribution system reduces power losses, number of subsea cables and space requirements at the topside facility. Problems caused by harmonics and resonance are reduced as system contain less number of on-load start-up motors.
The share of oil and gas to be supplied from deeper water depths is expected to grow in the coming year due to increase investment in subsea production and processing system. The subsea electrical power distribution system will mark the end for many large offshore platforms and floats. The demand for electrical power for subsea consumer will increase with subsea electrical power distribution system solution. The driving factor in the subsea electric power distribution market is exploration of new oil reservoir in deep water and ultra deep water across the world. Subsea systems minimize environmental risks associated with the production from Arctic region and in deepwater offshore areas. Other driving factors in the subsea electrical power distribution market are; development in deeper water, longer distances, marginal fields and unexplored Arctic fields. Brazil’s interest in deep water and ultra deep water exploration and production activities across the world has increased significantly. The additional benefit of deepwater and ultra deepwater oil and gas is that new finds tend to be significantly larger than recent onshore discoveries. Exploration in deepwater and ultra deepwater offers an alternative to meet rising global energy demand. Some of the technological benefits in the subsea electrical power distribution market are; access to deeper reserve, accelerated production rate, shorter time to first oil among others. Collaborative role and joint-investment-programmers will continue to play a valuable role in technology development. In order to leverage against declining production, operators are venturing into remote and harsher locations. Australia is emerging as a major player in the global natural gas market due to the development of offshore natural gas and onshore coal bed methane projects.
Operators in Brazil, Norwegian continental shelf and China are driving subsea frontier by going in depth. Some of the global players in setting up projects in subsea electrical power distribution market are ABB Ltd., Total S.A. and Schneider Electric Corporation among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.