Subsea Flowlines Market Size - By Depth (Shallow, Deep, Ultra Deep), Regional Outlook, Competitive Market Share & Global Forecast, 2024 – 2032

Subsea Flowlines Market Size

Subsea Flowlines Market was valued at USD 2.3 billion in 2023 and is estimated to register over 6.5% CAGR between 2024 and 2032. Increasing emphasis on exploring and operating in increasingly deep offshore fields along with strategic focus on addressing the challenges associated with extracting resources from deeper waters, making cost-effective and reliable solutions.
 

The cost-effective development of small satellite fields, leveraging existing infrastructure to minimize the necessity for new installations, aligns with the depletion of easily accessible oil and gas reserves. Paradigm shift towards exploring and extracting hydrocarbons from deepwater and ultra-deepwater fields, is reshaping the industry landscape. The adoption of standardized components, modular designs, and advancements in installation and maintenance techniques will influence the business dynamics. Furthermore, increased focus on sustainability and environmental responsibility, including the development of eco-friendly coatings, the embrace of energy-efficient designs, and the integration of renewable energy sources, is set to positively influence the industry outlook.
 

Flowlines are an integral part of Subsea Umbilicals, Risers and Flowlines (SURF) utilized for oil and gas production systems, serving as pipelines to transport hydrocarbons including oil and natural gas from subsea wells to surface facilities or processing units on platforms or onshore. These pipelines are carefully designed to operate in the challenging conditions of the seabed, including high pressure and low temperatures and constructed to navigate the complexities of deep-sea environments, ensuring the seamless transport of hydrocarbons in offshore oil and gas operations.
 

COVID- 19 Impact

The subsea flowlines market has experienced significant disruptions in supply chains, affecting the availability of components and materials attributed by the unexpected COVID-19 global pandemic. Various players have faced challenges numerous challenges in sourcing essential components, leading to delays in production and distribution. The pandemic resulted economic downturn that has led to a reduction in capital expenditures within the oil and gas industry. However, ongoing global economic recovery and stabilization of oil prices, it is anticipated that investments in offshore projects and the demand for subsea flowlines will experience a resurgence, effectively mitigating the earlier constraints over the forecast period.
 

Subsea Flowlines Market Trend

The subsea flowlines industry is set to observe positive uptake on account of the evolving landscape of offshore oil and gas exploration along with growing focus on exploring and operating in deeper offshore fields, driven by a decline in easily accessible oil reserves. As energy companies venture into more challenging environments, growing emphasis on the development and deployment of cost-effective, robust, and highly reliable solutions for subsea oil and gas production will further accelerate product deployment. In addition, shifting focus toward flexible and rigid flowline solutions, offering adaptability to seabed irregularities and stability over longer distances, will ensure sustainable and reliable solutions for offshore energy production further augmenting the industry landscape.
 

Subsea Flowlines Market Analysis

The deep water depth segment is projected to observe gains at nearly 7.5% up to 2032 and is set to witness substantial growth, driven by the presence of oil fields and the production of natural gas and oil. Increasing investments in deep and ultra-deep hydrocarbon fields along with growing emphasis on production of petrochemical products to cater to the rising demand will significantly contribute to positive industry outlook. Moreover, the shifting emphasis on reducing dependence on imported energy resources along with a surge in investments in ultra-deep offshore oil fields, complementing a favorable industry outlook.
 

• The Middle East & Africa subsea flowlines market size surpassed USD 1.1 billion in 2023, propelled by escalating investments in the exploration of newly discovered crude oil reserves and a favorable outlook for the development of unconventional resources. Fors instance, in May 2022, ADNOC revealed three significant oil discoveries, at Bu Hasa, largest onshore field of Abu Dhabi, boasting a robust crude oil production capacity of 650,000 barrels per day. The discovery at Bu Hasa comprises of 500 million barrels of oil from an exploration well within the field.
   
• Shifting emphasis on the digitalization and automation of drilling operations, strategically aimed at boosting crude oil production rates is set to influence the subsea flowlines market outlook. The region's abundant offshore oil and gas reserves, coupled with ongoing exploration and production activities, and the presence of well-established oil and gas companies, will play a pivotal role in amplifying the dynamics of the business landscape. For instance, in March 2022, Abu Dhabi National Oil Company granted framework agreements valued at USD 658 million, aimed at the extensive expansion of drilling operations and the augmentation of crude oil production capacity. In addition, the introduction of government policies and regulations, coupled with the increasing demand for energy resources, is expected to further fuel the industry's expansion.
   

Subsea Flowlines Market Share

The subsea flowlines industry is characterized by competition among several global and regional players. These companies were engaged in offering subsea flowline solutions for oil & gas applications. Various large-scale competitors including OneSubsea, TechnipFMC plc, Vallourec, Sapiem SpA, Halliburton and Baker Hughes Company among others, are actively competing in the industry and offering a wide range of flowlines solutions and introducing new products to boost their geographical footprint. The ongoing technological innovation attributed by the investments in the research & development by key players to introduce advanced features and functionalities in subsea flowlines will shape the subsea flowlines market dynamics.
 

For instance, in August 2022, Vallourec has unveiled an extensive pipe grade portfolio, including the introduction of the X80 steel grade. The first seamless X80 grade has been delivered for pipes with heavy wall thicknesses up to 40mm, catering to mild sour applications in NACE region 2. The X80 grade guarantees a maximum pipe hardness below 280 HV10 and an average toughness of 300J at -30°C in these specific applications. Moreover, growing need for energy-efficient systems capable of transporting crude oil and gas to processing plants along with rising investments in subsea projects, and increasing deployment of floating rigs and the escalating demand for energy will further complement the industry landscape.
 

Subsea Flowlines Market Companies

The key market players operating across the industry include:

• Aker Solutions
• Allseas
• ArcelorMittal Energy Projects
• Baker Hughes Company
• Cabot Corporation
• Halliburton
• HOHN GROUP
• Oceaneering International, Inc.
• OneSubsea
• Sapiem SpA
• Strohm
• SUBSEA7
• TechnipFMC plc
• Tenaris
• Vallourec
   

Subsea Flowlines Industry News

• In September 2023, Saipem secured a contract with Eni Côte d’Ivoire along with Petroci, its partner for the provision of subsea umbilicals, flowlines and risers in support of the Baleine Phase 2 project development offshore Côte d’Ivoire, situated at a water depth of 1,200 meters. The comprehensive scope of work encompasses engineering, procurement, construction, and installation (EPCI) activities, covering approximately 20 kilometers of rigid lines, 10 kilometers of flexible risers & jumpers, and 15 kilometers of umbilicals linked to a dedicated floating unit. The installation is slated to be conducted using Saipem’s construction vessels and is scheduled for completion in 2024. This project underscores Saipem's expertise in delivering integrated solutions for subsea developments in challenging offshore environments.
   
• In April 2023, Dril-Quip, Inc., in collaboration with global controls technology company Proserv, successfully completed and installed the two 15,000-psi HorizontalBore subsea trees located at the Woodside Shenzi North oil & gas field in the U.S. Gulf of Mexico. The 15,000-psi HorizontalBore subsea tree, developed by Dril-Quip, represents the latest modular design in subsea production systems, offering versatility in accommodating various completion configurations. Notably, this innovative tree design provides flexibility in the operation of running & pulling the upper completion without disrupting the tree-to-wellhead connection or the flowline connection to the tree, showcasing advancements in subsea production technology.
   

This subsea flowlines market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Feet” and “USD Million” from 2019 to 2032 for the following segments:

Click here to Buy Section of this Report

Market, By Depth

• Shallow
• Deep
• Ultra-Deep

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • UK
  • Norway
  • Netherlands
  • Russia
• Asia Pacific
  • China
  • India
  • Indonesia
  • Malaysia
  • Thailand
  • Australia
• Middle East & Africa
  • Angola
  • Nigeria
  • Egypt
  • Qatar
  • Saudi Arabia
  • UAE
• Latin America
  • Brazil