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Subsea Risers Market Size

Report ID: GMI8128
Published Date: Feb 2024
Report Format: PDF

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Subsea Risers Market Size

Subsea Risers Market was valued at USD 726.4 million in 2023 and is anticipated to over 8.4% CAGR between 2024 and 2032. Growing emphasis on exploring and operating in progressively deeper offshore fields, coupled with strategic focus on addressing challenges related to resource extraction from various reserves will augment the industry outlook.

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Various industry players are focused at enhancing the efficiency of subsea risers through the integration of cutting-edge materials to develop cost-effective & reliable solutions. A shift in focus towards the exploration and extraction of hydrocarbons from deep and ultra deep-water fields is set to complement the industry outlook.

Subsea Risers Market Report Attributes
Report Attribute	Details
Base Year:	2023
Subsea Risers Market Size in 2023:	USD 726.4 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	8.4%
2032 Value Projection:	USD 1.49 Billion
Historical Data for:	2019 to 2022
No. of Pages:	720
Tables, Charts & Figures:	1,007
Segments covered:	Depth, Product, and Region
Growth Drivers:	Rising energy demand Increasing investments and expenditure for the exploration of deep and ultra-deep oil reserves Shifting focus towards development of marginal fields Rapidly expanding energy demand
Pitfalls & Challenges:	High associated cost with offshore drilling operations

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Subsea risers are critical components across the Subsea Umbilicals, Risers and Flowlines (SURF) infrastructure deployed across offshore oil and gas production systems to connect the seabed to surface facilities. These vertical pipelines serve as conduits for transporting hydrocarbons from subsea wells to production platforms or floating production systems. They also provide a conduit for various services such as hydraulic control fluids and electrical power. The design and functionality of subsea risers are crucial for ensuring the efficient and safe extraction of oil and gas from beneath the ocean floor. Subsea risers play a pivotal role in providing a crucial link between subsea wells and surface facilities, and their designs evolve continuously to meet the challenges of deepwater exploration & production.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The market valuation of the subsea risers was reached USD 726.4 million in 2023 and is poised to expand at 8.4% CAGR through 2032, driven by the increasing emphasis on exploring and operating progressively deeper offshore fields.

Flexible subsea riser market accounted for 45.2% revenue share in 2023 and is projected to record substantial growth through 2032, owing to its adaptability to seabed irregularities and stability over extended distances.

Middle East & Africa subsea risers industry size is set to surpass USD 630 million by 2032 attributed to the ongoing development of unconventional resources and escalating investments in the exploration of newly discovered crude oil reserves.

Some major subsea risers manufacturers are 2H Offshore Engineering Ltd., Acteon Group Ltd., Aker Solutions, Baker Hughes Company, Dril-Quip, Inc., Halliburton, HOHN GROUP, Kinetic Pressure Control, Oil States Industries, Inc., SLB, TechnipFMC plc, Tenaris, Vallourec, and Weatherford, among others.