Press release
Comprehensive analysis on Subsea Umbilicals, Risers and Flowlines (SURF) Market Growth | Key Players are: TechnipFMC, General Electric, National Oilwell Varco, Vallourec, Halliburton, Aker Solutions, Tenaris, John Wood Group PLC, Siemens, Saipem, McDermot
Subsea Umbilicals, Risers and Flowlines (SURF) Market
Subsea Umbilicals, Risers and Flowlines (SURF) Market in 2018 was valued over USD 5 billion and is projected to expand over 7% by 2025. Growing investments towards exploration and production from deep and ultra-deep-water locations on account of declining penetration of easy to access oil reserves will augment the industry outlook. Cost effectiveness, robust design and higher reliability are some of the prominent features that will further drive the product demand over the forecast timeframe.
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Continuous technological advancement towards the development of energy efficient systems in order to enhance the production capacity will stimulate the deep SURF industry growth. Increasing penetration of mature oil fields across shallow water locations will further raise the technology demand across deep water oil fields.
Ongoing investments to develop the untapped hydrocarbons resources will drive the flowlines SURF market growth. High performance index with optimized subsea architecture and cost effectiveness are some of the vital features which will enhance the product deployment over the forecast period.
North America SURF industry is expected to exceed over USD 1 billion by 2025. Escalating investments towards development of new unconventional energy resources along with shifting focus toward the production enhancement of mature oilfield will further boost the industry outlook. Moreover, ongoing efforts to digitalize the drilling operations by introducing IoT systems will further augment the business landscape.
Riser SURF market will witness extensive growth on account of increasing installation of floating rigs with various progression in deep water technologies. For instance, Mitsui & Co ltd. Holds 18 FPSOs across five nations globally, out of all 12 units are situated across Brazil.
Europe SURF industry will witness significant upsurge subject to the increasing investment to effectively develop the region?s deep & ultradeep energy resources. Furthermore, rising regulatory focus to enhance region?s energy security by decreasing dependency on foreign oil imports will fuel the business landscape.
Shallow subsea umbilicals, risers and flowlines market will accelerate on account of surging capex toward new E&P activities along with growing operator?s focus towards reducing operational cost. Moreover, rising applications for crude oil and natural gases across several chemical and petrochemical industries will further complement the industry landscape.
China?s SURF industry will witness robust growth with increasing demand for petrochemical product due to of rapid industrialization & urbanization. In addition, promising economic growth with the soaring E&P investments to develop various untapped energy sources will further drive the business outlook.
Prominent subsea umbilicals, risers and flowlines industry players comprise of TechnipFMC, General Electric, National Oilwell Varco, Vallourec, Halliburton, Aker Solutions, Tenaris, John Wood Group PLC, Siemens, Saipem, McDermott, amongst others.
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Report Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.2 Market definitions
1.3 Market estimates & forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Subsea umbilicals, risers and flowlines market 360 degree synopsis, 2014 - 2025
2.1.1 Business trends
2.1.2 Water depth trends
2.1.3 Product trends
2.1.4 Regional trends
Chapter 3 Subsea Umbilicals, Risers And Flowlines Industry Insights
3.1 Industry segmentation
3.2 Industry landscape
3.3 Industry Ecosystem Analysis
3.3.1 Vendor matrix
3.4 Innovation & technology landscape
3.4.1 Balmoral Group Holdings Ltd
3.4.2 Airborne Oil & Gas
3.4.3 Vallourec
3.5 Regulatory landscape
3.5.1 Brazil
3.5.2 U.S. Gulf of Mexico (U.S. GOM)
3.5.3 UK
3.5.4 India
3.5.4.1 International legislation on marine trade
3.5.5 World Bank (WB)/International Finance Corporation (IFC) Guidelines
3.6 List of key underdevelopment/upcoming FPSO projects
3.7 Global crude oil demand supply analysis
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 Growing investments in deep and ultradeep oil reserve exploration
3.8.1.2 Rising Energy Demand
3.8.1.3 Increased government focus toward development of marginal fields
3.8.2 Industry pitfalls & challenges
3.8.2.1 High cost associated with offshore drilling
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