Underwater Monitoring System For Oil & Gas Market Size, Share and Global Trend By Subsea Sensor (Pressure Sensors, Temperature Sensors, Proximity Sensors, Others), By Monitoring System (Acoustic Sensors, Wireless Sensors Networks, Satellite Radio Navigation), By Communication Method (FDMA, TDMA,CDMA, SDMA), And Regional Forecast, 2024-2032

The massive development in varied industry sectors has steadily and constantly increased the demand for oil and gas. To cope up with extensive demand and balance the supply-demand chain many operators are exploring hydrocarbons in the deep ocean. Offshore exploration activities are booming due to stupendous development in technology for deepwater exploration. For highly efficient underwater oil and gas activities underwater monitoring system is very essential. The complexities involved in operation and maintenance of subsea systems and growing ultra-deepwater exploration is driving the need for underwater monitoring the system for oil and gas. The system is very useful in controlling and monitoring the oil reserves to avoid major oil spillage and protect the ocean environment which intensifying the need of underwater monitoring system.

The global underwater monitoring system for oil and gas is classified on the basis of Subsea Sensors, Monitoring System, and Communication Method. Subsea sensors are further divided into pressure sensors, temperature sensors, proximity sensors, inclinometers, radiations sensors, load sensors, linear displacement gauges, flexible pipe systems, riser technology, and others. The pressure sensor is quite popular in dredging operation and designed to last in the context of the rough operation. Monitoring system divided into acoustic sensors, wireless sensors and satellite radio navigation. These systems are essential in monitoring and acquiring real-time data. Amongst these systems; Supervisory Control and Data Acquisition System (SCADA) is the most preferred system as it offers to control as well as monitoring underwater oil and gas plant.

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The adaptation of highly competent and advanced technology for ultra-deepwater exploration anticipate the offshore activities in order to suffice the increasing demand for oil and gas which drive the underwater monitoring system market. World leaders are acting strict and drafting harsh policies to combat marine pollution is increasing the demand highly efficient underwater monitoring system.

The research and development in subsea exploration driving the technological advancement which increases the overall cost of the system. Also, the monitoring system requires expensive equipment which inhibits the growth of the underwater monitoring system for the oil and gas market.

Key Players Covered

Some of the top companies for underwater monitoring system for oil & gas are KCF Technologies, Force Technologies, Fugro, BMT Group, One Subsea, Sonardyne, Kongsberg Maritime, Teledyne Marine, Kraken Robotics, RTsys, Pulse Structural Monitoring, and Schlumberger-OneSubsea.

SEGMENTATION

Regional Analysis

The global underwater monitoring system for oil and gas market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is representing a large share of investment in developing offshore exploration techniques. The recent discoveries of oil and gas reserves in South American countries as well as in the U.S. have seen a rise in offshore activities which is expected to raise the demand for an underwater monitoring system. European countries are adopting and amending strict laws and regulation to curb marine pollution. Marine life is in danger due to oil spillage and carbon emission. To mitigate the rising carbon emission which causes GHG emission; countries in Europe are imposing hefty fines. Therefore, operators are adopting advanced technology to monitor and control marine pollution. In the Asia Pacific, the demand for oil and gas is enormously increasing and most of the countries are dependent on oil exporting nations. Thus, the government is pushing new projects and investment in offshore exploration to meet the rising demand of hydrocarbon which drives the underwater monitoring system market in the Asia Pacific. The major portion of the oil and gas from MEA is explored from onshore activities. But countries are focusing on offshore exploration to increase oil and gas production. The potential investment in offshore exploration is enlarging the demand for underwater monitoring system for oil and gas.

Key Industry Developments

• In April 2019, Teledyne RD achieved a new landmark by introducing next generation Long Range Acoustic Doppler Current Profiler with decreased weight and size, independent long range high resolution modes. It can be used for real time applications, such as oil rig monitoring; moving boat application, and deep water oceanographic studies.


• In March 2019, The UK government announced to build multimillion dollar underwater engineering hub in Aberdeen to support the UK’s oil and gas sector diversify. The new hub will provide expertise in subsea robotics, remotely-operated underwater vehicles, and maritime support vessels.