ALBANY, New York, August 29, 2017 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Underwater Monitoring System for Oil and Gas Market -Global Industry Analysis, Size, Share, Growth Trends and Forecasts 2017-2025." According to the report, the global Underwater Monitoring System for oil and gas market was valued at US$ 680.0 Mn in 2016 and is estimated to reach US$ 1181.3 Mn by 2025, expanding at a CAGR of 6.43% between 2017 and 2025.
Increasing demand for energy across the world makes it essential to have monitoring for the deep sea oil and gas reserves. The monitoring and maintenance of these facilities provides significant role in the country's economic progress. The need to monitor oil and gas reserves in deep sea explorations is primarily driving the global underwater monitoring systems for oil and gas market. Moreover the complexities in the operation and maintenance of subsea systems will also augment the deployment of underwater monitoring system for oil and gas operations.
The increase in the application of underwater monitoring system will boost in the market in future. The complex facility with, and difficult maintenance of the subsea pipelines will be the key factor which is expected enhance the demand for the underwater monitoring system in oil and gas market.
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Currently, Asia Pacific leads the global underwater monitoring system market for Oil & Gas. It is followed by Middle East & Africa and Europe. Due to the massive projects undertaken by world's large oil and gas companies for exploration and production operations in Myanmar, China, and is likely to fuel the demand for underwater monitoring equipment based applications in Asia Pacific over the forecast period. China is also the key manufacturer and consumer of sub sensor products in Asia Pacific region. The development of the offshore fields in the region with the new discoveries of oil and gas fields in the areas of South China Sea, Australia such as are expected to witness drilling activities.
Underwater monitoring system equipment demand would continue to increase in Asia Pacific region over forecast period. The region Asia Pacific is accounted for more than 24% share in 2016. Middle East and Africa, North America and Europe are also developed market for Oil and Gas underwater monitoring equipment market are expected to expand at a moderate pace during the forecast period.
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Key players in the underwater monitoring system for oil and gas market include Kongsberg Maritime, Schlumberger-OneSubea, SONARDYNE, Teledyne Marine, Fugro, DSPComm, Ocean Sonics, KCF Technologies, and Mitcham Industries.
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The report segments the global Underwater Monitoring System for oil and gas market as follows:
Underwater Monitoring System for oil and gas Market: Subsea Sensor Analysis
- Pressure Sensors
- Temperature Sensors
- Proximity Sensors
- Rotation Sensors
- Load Sensors for Tension and
- Linear Displacement Gauges
- Flexible pipe systems
- Riser Technology
- Pipeline type
Underwater Monitoring System for oil and gas Market: Monitoring Systems
- Acoustic Sensor Market
- Acoustic underwater Vehicle
- Acoustic Doppler Current Profiler
- Cable Hydrophones
- Autonomous Hydrophones
- Wireless Sensors networks
- 3G/GPRS Communication Module
- Satellite Radio Navigation
Underwater Monitoring System for oil and gas Market: Communication Method Analysis
- FDMA (Frequency Division Multiple Access)
- TDMA (Time Division Multiple Access)
- CDMA (Code Division Multiple Access)
- SDMA (Space Division Multiple Access)
Underwater Monitoring System for oil and gas Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
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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.
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SOURCE Transparency Market Research