Global Oil Gas Subsea Umbilical Risers Flowlines Market is Likely to Grow at a CAGR Value of 3.7% By 2028

09-Aug-2022 | Facts and Factors

According to Facts and Factors, the global oil gas subsea umbilical risers flowlines market size was worth USD 5629.5 million in 2021 and is estimated to grow to USD 7000.7 million by 2028, with a compound annual growth rate (CAGR) of approximately 3.7% over the forecast period. The report analyzes the oil gas subsea umbilical risers flowlines market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the oil gas subsea umbilical risers flowlines market.

Oil and gas production from established, established, and mature fields have begun to decline. Companies are increasingly looking for additional fields as a result. Compared to the mature fields, these fields are situated in deeper seas. They are located in less traveled regions, such as the North Sea, West Africa, and Latin America. These offshore deepwater fields are where SURF is most frequently used. SURF aids in bridging subsea production with surface systems.

Browse the full “Oil Gas Subsea Umbilical Risers Flowlines Market Size, Share, Growth Analysis Report By Product (Umbilicals, Risers, Flowlines, Cables, and Other Products), By Services (Flexible Flowline/Riser Installation & Recovery, Power Cable Installation & Recovery, Umbilical Installation & Recovery, Subsea Structure Installation, Jumper And Tie-In Spool Installation, and Other Services), By Water Depth (Shallow Water, Deep Water, Ultradeep Water, and Other Water depth), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/oil-gas-subsea-umbilical-risers-flowlines-market

Umbilicals, risers, and flowlines are the two categories into which SURF might be separated to achieve this goal. The umbilical serves as a link between surface and underwater devices. The Umbilical Termination Structure (UTS) makes transmitting services to diverse subsea equipment easier, including electric power, chemicals, telecommunications, and instructions. These services use flying leads, just ordinary extension cables, to connect to the different subsea equipment.

Flowlines move unprocessed fluids from the subsea well to the riser pipeline. They are sometimes viewed as a broader pipeline system component, including riser, extension cables, flowlines, and other pipes. Risers are utilized to join flowlines back to the facility on the surface. These pipes are offered in various sizes, from less than one inch to more than ten inches. This partially depends on the depth of the offshore fields and the pressure that results from that for the pipelines.

The growth in offshore field development due to technological advancements allowing safe operations and effective interconnections between top platforms and vessels to wellheads mounted on the seabed is one of the key driving factors behind the growth of the global oil gas subsea umbilical risers flowlines market.

In addition, a decrease in the price of crude oil is anticipated to promote offshore exploration and production operations and accelerate market expansion. Additionally, technical advancements in tandem with oil field service providers offering fair discounts are predicted to accelerate market expansion. The global SURF (subsea umbilicals, risers, and flowlines) industry has been constrained in its expansion by the recent drop in crude oil prices.

Segmental Overview

The global oil gas subsea umbilical risers flowlines market is segregated based on product, services, water depth, and region.

Based on product, the market is divided into umbilicals, risers, flowlines, cables, and other products. In terms of products, the market was dominated by umbilicals in 2021. Based on services, the market is divided into flexible flowline/riser installation & recovery, power cable installation & recovery, umbilical installation & recovery, subsea structure installation, jumper, tie-in spool installation, and other services.

In 2021, the subsea structure installation category led the market in terms of services. Based on Water Depth, the market is divided into shallow water, deep water, ultradeep water, and other water depths. In 2021, the shallow water category led the market regarding water depth.

Regional Overview

The global oil gas subsea umbilical risers flowlines market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In 2021, it was anticipated that the market for oil gas subsea umbilical risers flowlines in North America would dominate the market. The sector will rise due to rising investments in exploiting new crude oil finds and a favorable prognosis for developing unconventional reserves. The increased focus will also improve the business environment on digitization and automation of drilling operations to increase crude oil production rates.

By 2025, the Asia-Pacific surf sector will expand rapidly, by over 10%. The market will develop more quickly due to increased demand for petroleum products brought on by rising urbanization and industrialization. The company outlook will also be fueled by the rosy economic prognosis and the rising E&P investments to investigate the untapped energy resources.

Report Scope

Competitive Landscape

The report contains qualitative and quantitative research on the global oil gas subsea umbilical risers flowlines market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.

Key players in the global oil gas subsea umbilical risers flowlines market include Abb Group, Airborne Oil & Gas B.V, AkerSolutions, Baker Hughes, Cameron International Corporation, Dril-Quip, Inc, General Electric Company, Kongsberg Gruppen Asa, McDermott International, Inc., National Oilwell Varco, Inc., Nexans SA, Oceaneering International, Inc., Orient Cable, Parker Hannifin, Prysmian S.p.A., Saipem SpA, Siemens AG, Subsea 7, TechnipFMC Plc, and Vallourec.

Global Oil Gas Subsea Umbilical Risers Flowlines Market is segmented as follows:

By Product

• Umbilicals
• Risers
• Flowlines
• Cables
• Other products

By Services

• Flexible Flowline/Riser Installation & Recovery
• Power Cable Installation & Recovery
• Umbilical Installation & Recovery
• Subsea Structure Installation
• Jumper And Tie-In Spool Installation
• Other Services

By Water Depth

• Shallow Water
• Deep Water
• Ultradeep Water
• Other Water Depth

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]
Web: https://www.fnfresearch.com