North America Subsea Umbilicals, Risers and Flowlines (SURF) Market Size - By Water Depth (Shallow, Deep, Ultra Deep), By Product (Umbilicals, Risers {SCR, Flexible, Others}, Flowlines), & Forecast, 2024 - 2032

North America Subsea Umbilicals, Risers and Flowlines Market Size

North America Subsea Umbilicals, Risers and Flowlines Market size was valued at USD 644.4 million in 2023 and is anticipated to expand at over 8.3% CAGR from 2024 to 2032. Expanding deep offshore oil field operations and the growing need for reliable systems to transport oil & gas to processing facilities are shaping industry dynamics. Increased investments in hydrocarbon exploration and the rising installation of floating rigs are set to boost the business outlook.
 

For instance, in July 2024, Mexico's hydrocarbon regulator approved a request from state energy firm Pemex to broaden a natural gas initiative in the Gulf of Mexico, necessitating additional investments exceeding USD 400 million to revise the field's production approach, focusing on well recovery and termination, production management, and hydrocarbon commercialization.
 

North America Subsea Umbilicals, Risers and Flowlines Market Trends

North America subsea umbilicals, risers and flowlines (SURF) industry is set to grow, driven by increasing emphasis on developing deep offshore fields and evolving dynamics in offshore oil and gas exploration. Rising investments in hydrocarbon reserve production and exploration across diverse water depths, coupled with expenditures for maintaining existing infrastructure, will complement the industry's outlook.
 

For instance, in July 2024, Eni's Yopaat-1 EXP well in Mexico's Sureste basin has potentially discovered 300-400 MMboe of oil and gas, reached depth of 2,931 m, encountering USD 200 million of net pay in oil and gas-bearing sands within Pliocene and Miocene sequences. Furthermore, continuous technological advancements, a supportive regulatory environment, and shifting energy dynamics play a pivotal role in augmenting the industry landscape.
 

North America Subsea Umbilicals, Risers and Flowlines Market Analysis

Deep depth segment is anticipated to grow over USD 700 million by 2032. The deep-water SURF market is poised for significant growth, driven by active oil fields, robust natural gas and oil production, and escalating investments in deep and ultra-deep hydrocarbon fields. Furthermore, flourishing investments in deep offshore oil fields, coupled with strategic initiatives to reduce reliance on imported energy, will positively influence the deep-water SURF industry outlook.
 

The shallow depth segment is anticipated to grow owing to rising capital expenditures in exploration and production activities coupled with ongoing technological advancements in system design aimed at enhancing operational efficiency. Surging demand for oil and gas from sectors like refineries and petrochemicals along with an upsurge in discoveries and the exploration of marginal oil reserves will positively influence the industry shallow depth SURF landscape.
 

The subsea umbilicals, risers and flowlines market from flowlines segment is anticipated to witness over 7.5% CAGR through 2032. Growing preference for both rigid and flexible flowline solutions, coupled with the increasing automation and digitalization of drilling operations will complement the business landscape. Growing demand for energy resources, driven by ongoing research and development initiatives aimed at introducing advanced technologies and functionalities will shape the flowlines industry dynamics.
 

The U.S. subsea umbilicals, risers and flowlines market is set to grow over USD 920 million by 2032. Rising investments in tapping into new crude oil discoveries, growing emphasis on energy conservation, and favorable outlook toward oil & gas sector across the nation will significantly influence the industry landscape.
 

Moreover, shifting focus on digitalization and automation in drilling operations to boost crude oil production, the introduction of supportive government policies and regulations, and ongoing exploration & production activities will complement the industry outlook. For instance, in March 2024, as per the EIA, for the past six years, the United States has led global crude oil production, averaging 12.9 million barrels per day in 2023.
 

North America Subsea Umbilicals, Risers and Flowlines Market Share

Key players in the subsea umbilicals, risers, and flowlines industrys are prioritizing robust partnerships and collaborations for new projects, introducing advanced technologies to expand their market presence. Major industry participants are actively engaging in mergers and acquisitions, and expanding their manufacturing facilities, further significantly influence industry dynamics in the coming years.
 

North America Subsea Umbilicals, Risers and Flowlines Market Companies

Major manufacturers operating across the industry consists of:

• ArcelorMittal Downstream Solutions
• Aker Solutions
• Bartell Machinery
• Baker Hughes Company
• Dril-Quip, Inc.
• Halliburton
• John Wood Group PLC
• JDR Cable Systems Ltd.
• Oil States Industries, Inc.
• Oceaneering International, Inc.
• SAIPEM SpA
• Syensqo
• SUBSEA7
• Tenaris
• TechnipFMC plc
• VALLOUREC
   

North America Subsea Umbilicals, Risers and Flowlines Industry News

• In Feb 2024, TechnipFMC has secured a contract from Shell plc for the inaugural integrated engineering, procurement, construction, and installation project. This project marks a significant milestone as it employs high-pressure rated up to 20,000 psi subsea production systems. The contract, valued between USD 250 million and USD 500 million, encompasses the manufacturing and installation of subsea production systems, risers, umbilicals, and flowlines for the project development in the Gulf of Mexico.
   
• In September 2023, BP PLC entered into a partnership with the Subsea Integration Alliance (SIA) to establish a framework aimed at boosting the performance of integrated subsea projects. The SIA, which operates as a nonincorporated alliance, is made up of OneSubsea and Subsea7 SA. The agreement highlights a collaborative effort: bp’s expertise in framing, building, and executing projects will be integrated with the Alliance’s proficiency in delivering integrated subsea production systems, as well as subsea umbilical, riser, and flowline systems.
   

The North America subsea umbilicals, risers and flowlines (SURF) market research report includes in-depth coverage of the industry with estimates & forecast in terms of “‘000 Feet and USD Million” from 2021 to 2032, for the following segments:

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Market, By Water Depth

• Shallow
  • Umbilicals
  • Risers
    • SCR
    • Flexible
    • Others
  • Flowlines 
• Deep
  • Umbilicals
  • Risers
    • SCR
    • Flexible
    • Others
  • Flowlines
• Ultra-Deep
  • Umbilicals
  • Risers
    • SCR
    • Flexible
    • Others
  • Flowlines

Market, By Product

• Umbilicals
• Risers
  • SCR
  • Flexible
  • Others 
• Flowlines

The above information has been provided for the following countries:

• U.S.
• Canada
• Mexico