Global underwater monitoring for oil & gas market is projected to grow from around $ 1 billion in 2018 to $ 1.8 billion by 2024.
An underwater monitoring system for oil and gas is basically used to monitor natural fuels like oil and gas. Increasing requirement to monitor oil and gas reserves in deep sea explorations coupled with rise in economic viability of deep-water developments are the key factors for the growth of underwater monitoring for oil & gas all across the globe. Moreover, increase in offshore deep-water and ultra-deep-water explorations is further anticipated to bolster the global underwater monitoring for oil & gas market in the forthcoming years. However, the structure of the underwater monitoring system for oil and gas is very complex, which might act as a major impediment to the market growth.
The global underwater monitoring for oil & gas market is segmented based on product, communication method, subsea sensor, monitoring system and region. Based on Subsea Sensor, the market can be segmented into Inclinometers, Rotation Sensors, Proximity Sensors, Pressure Sensors and Others. Among them, pressure sensors segment accounted for the largest market share in 2018 and is expected to grow at the highest pace among all the subsea sensor segment during the forecast period owing to essentiality of sensors and technology advancements in the area. In terms of monitoring system, the market is segregated into Acoustic Sensors, Wireless Sensors Network, Satellite Radio Navigation. Among them, Acoustic Sensors category is expected to continue its market dominance over the next 5 years, which can be attributed to the need of acoustic sensors to calculate the position as well as to store and transmit the information which is obtained from subsea equipment.
Major players operating in the underwater monitoring for oil & gas market are KCF Technologies, BMT Group, Schlumberger-OneSubsea, Bowtech Products, Konberg Maritime, SONARDYNE, Mitcham Industries, Fugro, Force Technology, Pulse Structural Monitoring and others.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020–2024
Objective of the Study:
- To analyze and forecast the market size of global underwater monitoring for oil & gas market.
- To classify and forecast global underwater monitoring for oil & gas market based on product, communication method, subsea sensor, monitoring system, company and regional distribution.
- To identify drivers and challenges for global underwater monitoring for oil & gas market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global underwater monitoring for oil & gas market.
- To conduct pricing analysis for global underwater monitoring for oil & gas market.
- To identify and analyze the profile of leading players operating in global underwater monitoring for oil & gas market.
Our report performed both primary as well as exhaustive secondary research for this study. Initially, The report sourced a list of related companies operating across the globe. Subsequently, the report conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, The report could include the players which could not be identified due to the limitations of secondary research. Our report analyzed the product types, distribution channels and presence of all major players across the globe.
The report calculated the market size of global underwater monitoring for oil & gas market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The report sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by our report.
Key Target Audience:
- Underwater monitoring for oil & gas service providers and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to underwater monitoring for oil & gas
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders, besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global underwater monitoring for oil & gas market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Remotely Operated Underwater Vehicles (ROVs)
- Unmanned Underwater Vehicles (UUVs)
- Rotation Sensors
- Proximity Sensors
- Pressure Sensors
- Acoustic Sensors
- Wireless Sensors Network
- Satellite Radio Navigation
- North America
- United States
- United Kingdom
- South Korea
- Middle East & Africa
- South Africa
- Saudi Arabia
- South America
Company Profiles: Detailed analysis of the major companies present in global underwater monitoring for oil & gas market.
With the given market data, The report offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Company Information
- Detailed analysis and profiling of additional market players (up to five).