The global market for distributed buoyancy modules, also known as buoyancy control systems, is poised for significant growth. Projected to reach US$ 80.9 million in 2023, this market is estimated to achieve US$ 161.5 million by 2034, exhibiting a robust 6.5% CAGR. Distributed buoyancy modules play a crucial role in supporting submerged structures and surface vessels or platforms in diverse environments. These modules are typically employed in areas where the submerged structure and surface vessel or platform are physically separated. The clamping technique allows for flexible installation along any length of the pipeline, providing versatile buoyancy control. The fundamental purpose of these modules is to offer different floating constructions in water bodies, effectively managing their position and height.
One of the most prominent applications of distributed buoyancy modules is in the realm of floating solar farms, also known as floating photovoltaic (PV) systems. These farms are constructed on water bodies like lakes, basins, and reservoirs, offering a unique alternative to traditional land-based solar farms. The floating platforms supporting these solar farms are typically made of buoyant materials like high-density polyethylene, ensuring stability and security. These platforms are equipped with buoyancy modules, anti-rust materials, vertical and horizontal frame construction, and inspection footrests to ensure buoyancy, even weight distribution, and protection from water damage. In essence, these innovative solar farms combine renewable energy and maritime technology to generate electricity in an environmentally sustainable manner.
The demand for distributed buoyancy modules is being driven by a confluence of factors, primarily the increasing focus on renewable energy sources. As fossil fuel resources dwindle and global energy demands escalate, the world is turning toward cleaner, more sustainable energy alternatives like wind, hydropower, and solar power. Governments, industries, and consumers alike are committed to reducing carbon emissions and achieving sustainability goals, fueling investments in renewable energy technologies. Furthermore, in deep-water environments where fixed bottom installations are impractical, offshore pipe buoyancy plays a vital role in supporting floating structures. Examples such as the Canadian government’s investment of over US$ 10.0 billion on hydroelectricity infrastructure in 2020 underscore the growing importance of offshore renewable energy and the associated demand for distributed buoyancy modules.
The European market for distributed buoyancy modules holds a dominant position, driven by factors like low operating costs, urbanization, modernization, and the increasing adoption of green energy practices in response to environmental concerns within the energy sector. North America is also experiencing substantial market growth, fueled by urbanization, rising disposable incomes, and growing public awareness of environmental issues and renewable energy technologies. Canada’s ongoing industrial development initiatives and the expanding number of power plants are expected to generate significant opportunities for the distributed buoyancy module market in North America.
Several key players in the global distributed buoyancy module market are actively developing subsea floatation modules and underwater flotation devices with advanced features to meet the burgeoning demand. Some of the prominent players in this market include:
* Trelleborg Group
* AIS Matrix Composites & Engineering
* Balmoral Comtec Ltd
* DeepWater Buoyancy, Inc.
* Koil Energy Solutions
* Shinyang Tech CO. Ltd.
Recent developments in the market include:
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April 2024:
AIS CRP Subsea secured a contract to supply buoyancy for a significant gas field off the coast of Western Australia in the Indian Ocean, highlighting the growing demand for distributed buoyancy modules in the offshore energy sector.*
October 2023:
VIKING Life-Saving Equipment A/S and Trelleborg Group entered into an exclusive multi-year distribution agreement. Trelleborg will now exclusively distribute VIKING’s Fender Davit systems, showcasing the growing collaboration and innovation within the market.The global distributed buoyancy module market is segmented by type (subsea, subsurface), application (riser systems, flowlines, wind farm cables, umbilicals, others), and region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
