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Subsea trenching is an operation carried out in the seabed for pre and post-laying the cables and pipelines under the seabed. In order to carry out subsea trenching operations, subsea trenchers are used by different service providers for the oil and natural gas and renewable industries. Subsea trenchers have compact design and have fewer support requirements owing to which the trenchers can be mobilized on the top of different vessels. The subsea trenchers provide various features that include multiple pass options, wide operating weather range, work for more extended periods, work efficiently close the vessel or foundation and conduct scour and cable surveys among others.
By type, the subsea trencher market is classified as mechanical and jet trenchers. The mechanical trencher is used for burying the pipeline and cables and are available in wide range of power ratings. The jet trenchers are used for embedding operations that require high precision and rapid deployment of pipelines, umbilical cords, and cables. Mechanical trenchers are expected to hold the lion's share in the subsea trenchers market by type owing to a broader application range as compared to jet trenchers. By application, the subsea trencher market is categorized by use of subsea trenchers in the pipeline, umbilical, and cable burial.
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Subsea trenching is a vital aspect for the burial of power cables used in the offshore wind farms. Regions such as Europe are highly focused on increasing their installed wind capacities in order to reduce the use of conventional energy sources. For instance, in 2018, a Danish company completed repowering of an offshore wind farm in Sweden in order to increase the electricity generation capacity by 6,000 MW hours.
Owing to this, the demand for the subsea trenchers is expected to surge in the regions where the offshore wind installations are high in number. Subsea trenchers also have applications in the subsea pipeline burial for the oil and gas pipelines. Growth in the offshore exploration and production activities is thus likely to drive the sales of subsea trenchers in the oil and natural gas industry. Subsea trenchers are used in both per and post-laying of pipeline and cables. However, they provide reliably fewer efficiencies in case of hard subsea surfaces. Owing to this, the subsea trencher market is expected to witness slow growth in the hard seabed locations.
Some of the major companies that are present in the global subsea trencher market are Soil Machine Dynamics Ltd, Allseas, Engineering Technologies Applications Ltd, Global Marine, Delta SubSea LLC, ATSA Gold Pty Ltd, Barth Hollanddrain, Seatools BV, Osbit, DeepOcean, Mastenbroek limited, Helix Energy Solutions Group, Royal IHC, and Miah Inc among others.
The global subsea trencher market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe region has witnessed a significant year on year growth of 16.8% in the offshore wind installations in the year 2018 as reported by IRENA. Increasing inclination of the local governments of the U.K, Sweden, Norway, and Germany, among others is expected to drive the offshore wind installations in the region. Owing to this, the subsea trencher market is expected to gain traction in the Europe region over the forecast period.
North America region has a massive number of oil wells and is focused on increasing the production capacities in the offshore wells. Owing to this, the subsea trencher market in North America is expected to witness healthy growth in the near future. Latin America has witnessed moderate growth in the oil and natural gas industry in the recent past. Oil production in Brazil is the key driving force for the oil and natural gas industry in the region. However, an increase in the exploration and production activities in the countries such as Guyana and Venezuela is expected to add in the offshore capacities of the region. Owing to this, the subsea trencher market is expected to grow at a decent rate in the Latin America region.
The Middle East and Africa region are focused on increasing its oil and gas production capacities through exploration and production activities in the GCC countries such as Saudi Arabia. Owing to this, the new offshore oil wells are expected to grow significantly in the region and drive the sales of subsea trenchers during the forecast period. China, South Korea, Vietnam, and Japan hold the lion's share in the offshore capacities installed in the Asia Pacific region. A year on year increase in the offshore capabilities in these countries was reported to be around 60% in the year 2018. Owing to this, the offshore wind installations are expected to grow at a higher rate in the Asia Pacific region which in turn is expected to drive the subsea trenchers market in Asia Pacific during the forecast period.
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