- Increased demand for oil and gas is driving the underwater monitoring system for oil and gas market.
- Rising number of oil and gas explorations in the Gulf of Mexico is driving the North American underwater monitoring system for the oil & gas market.
- Increased use of unmanned underwater submarines are few more key factors driving the underwater monitoring system for the oil & gas market
Underwater monitoring systems are used to predict and avoid the unforeseen threats to the environment or human lives with the help of very effective, predictive and quick detection mechanism. These systems also help to monitor and maintain the oil and gas sources and the oil rig structures, in order to meet the everyday energy needs of humans.
Increased demand for oil and gas has increased the requirement for underwater drilling and monitoring systems which has driven the underwater monitoring system for oil and gas market. Moreover, the rising number of accidents at the offshore oil rig and drilling facilities will also boost the growth of the global underwater monitoring system for oil & gas.
For instance, in April 2010, the BP’s Deep-water Horizon oil rig exploded which killed 11 engineers (on-board) and also polluted the Gulf of Mexico. According to investigations done by BP, the accident was caused due to “a complex and interlinked series of mechanical failures, human judgments, engineering design, operational implementation, and team interfaces.”
Such a complex design and structure of the process and the maintenance of the subsea pipelines will be the major factor that will fuel the demand for the underwater monitoring systems.Furthermore, the rising offshore deep-water exploration activities, rising applications of underwater robotics, increased use of unmanned underwater submarines are few more key factors driving the underwater monitoring system for the oil & gas market.
The underwater monitoring system for oil & gas market is classified on the basis of subsea sensors, monitoring system, application, product, and region.
By subsea sensors, the global underwater monitoring system for oil and gas market is divided into proximity sensor, pressure sensor, the flow sensor rotation sensor, temperature sensor; inclinometers load sensors, and linear displacement gauge. The pressure sensors account for the largest share.
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On the basis of monitoring systems, the global market for the underwater monitoring system for oil and gas is segmented into wireless sensor networks, acoustic sensors segment, and satellite radio navigation segment. Acoustic sensor segment is further subdivided into the acoustic underwater vehicle (AUV), hydrophones, sonobuoys, and acoustic Doppler current profiler. The acoustic sensors help to calculate the position which is then stored and transmitted to the main system. The wireless sensor network is also further subdivided into 3G/GPRS Communication Module, SCADA, and RTU. The SCADA is the largest segment in the wireless sensor network.
By application, the global market for the underwater monitoring system for oil & gas is bifurcated into deep-water monitoring and subsea pipeline monitoring. By product, the global underwater monitoring system for oil and gas market is divided into remotely operated underwater vehicles (ROVs), unmanned underwater vehicles (UUVs), underwater environmental monitoring devices, and underwater robots.
The global underwater monitoring system for oil & gas market is segmented into North America, Latin America, Europe, Asia-Pacific, and the Rest of the World. Rising number of oil and gas explorations in the Gulf of Mexico is driving the North American underwater monitoring system for the oil & gas market. Asia Pacific market is growing at the highest CAGR followed by the Middle East & Africa owing to growing number of exploration, drilling and production operations in the South China Sea, Myanmar, and China.
Major players in underwater monitoring system for oil & gas market are DSPComm, Schlumberger-OneSubea, Bowtech Products Limited, Kongsberg Maritime, OceanServer Technology, Inc., SONARDYNE, Teledyne Marine, Fugro, DSPComm, KCF Technologies, Ocean Sonics, Kongsberg Maritime AS, and Mitcham Industries.In order to gain the market share and competitive advantage, different strategies are being adopted by these players like the expansion, new product launch, product differentiation, and merger & acquisition.