Subsea Umbilicals, Risers and Flowlines (SURF) Market Size By Water Depth (Shallow {By Product [Umbilicals, Risers (SCR, Flexible, Others), Flowlines]}, Deep{By Product [Umbilicals, Risers (SCR, Flexible, Others), Flowlines], Ultra-Deep{By Product [Umbilicals, Risers (SCR, Flexible, Others), Flowlines]}), By Product (Umbilicals, Risers {SCR, Flexible, Others}, Flowlines), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Norway, Netherlands, Russia, China, India, Indonesia, Malaysia, Thailand, Australia, Vietnam, Angola, Nigeria, Egypt, Congo, Qatar, Saudi Arabia, UAE, Brazil, Trinidad & Tobago), Competitive Market Share & Forecast, 2019 – 2025

Published Date: Sep 2019  |  Report ID: GMI3515

Report Format: PDF   |   Pages: 450   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Subsea Umbilicals, Risers and Flowlines Market size was valued over USD 5 billion in 2018 and will witness growth over 7% by 2025.
 

Europe SURF Market Size, By Product

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Growing demand for energy efficient system that can bring the crude oil and gas to the processing plants along with increasing investments toward subsea project will drive the global subsea umbilicals, risers and flowlines market growth. Ability to provide vital link between subsea production and surface facilities and enhance production rate will make its adoption preferable. Furthermore, increasing installation of floating rig along with surging energy demand will further complement the business outlook. For instance, according to Baker huge in 2019, the floating rig count increased from 198 in May 2018 to 240.
 

Declining number of easy-to-access oil reserves coupled with shifting focus toward new growth ventures and operations in deeper offshore fields will stimulate the subsea umbilicals, risers and flowlines industry size. Robust design, cost effectiveness and high reliability are some of the eminent features positively influencing the market growth.
 

Technological advancement in system design to enhance operational efficiency along with growing number of exploitation and discoveries of marginal oil reserves will propel the subsea umbilicals, risers and flowlines industry share. For instance, in August 2018, an estimated reserve of over 170 million barrels was discovered in North Western Shelf of Australia.
 

Subsea Umbilicals, Risers and Flowlines (SURF) Market Report Coverage
Report Coverage Details
Base Year: 2018
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Pages: 450 Tables, Charts & Figures: 1265
Geographies covered (23): U.S., Canada, Mexico, UK, Norway, Netherlands, Russia, China, India, Indonesia, Malaysia, Thailand, Australia, Vietnam, Angola, Nigeria, Egypt, Congo, Qatar, Saudi Arabia, UAE, Brazil, Trinidad & Tobago
Segments covered: Water Depth, Flowlines, Deep, Product and Region
Companies covered (15): Schlumberger Limited, TechnipFMC plc., General Electric, Halliburton, National Oilwell Varco, Vallourec, Oceaneering International, Inc., Aker Solutions, Tenaris SA, Siemens, Saipem, John Wood Group PLC, Prysmian Group, McDermott, Subsea

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Subsea Umbilicals, Risers and Flowlines Market, By Product

Umbilical SURF market will witness a significant growth on account of positive outlook toward deep and ultradeep water drilling activity. Reliability, cost effectiveness and ability to transmit electric signals and chemical fluid are some of the key features which will enhance the product adoption. In addition, stringent government regulation to ensure the safety during the deep sea underwater operation will further complement the business dynamics.
 

Riser SURF market will witness robust growth of over 9% by 2025. Increasing number of floating rig installation along with advancement in deep water technologies will stimulate the product demand. For instance, Mitsui & Co ltd. company has total 18 FPSOs in five countries across the globe, out of which 12 units are in Brazil.
 

Subsea Umbilicals, Risers and Flowlines Market, By Water Depth

Shallow subsea umbilicals, risers and flowlines market in 2018, accounted for over USD 3.5 billion. Ongoing capital expenditure toward E&P activities coupled with declining operational cost will stimulate the market growth. In addition, growing demand for oil and gas from several industries including refinery will further complement the business landscape. For instance, in 2018, crude oil consumption across North America increased from 24.08 million barrels per day in 2016 to 24.71 Million barrels per day.
 

Growing number of mature oil fields coupled with rising investments across ultra-deep and deep hydrocarbon fields will propel the deep-water SURF market size. According to the U.S. EIA, the global production of crude oil from offshore deep-water fields is anticipated to increase over 2.5 million bbl/day from 2017 to 2040.
 

Subsea Umbilicals, Risers and Flowlines Market, By Region

North America subsea umbilicals, risers and flowlines market is expected to surpass over USD 1 billion by 2025. Surging investments toward exploitation of new crude oil discoveries coupled with positive outlook toward development of unconventional reserves will fuel the industry growth.  Furthermore, rising focus toward digitalization and automation of the drilling operations to enhance crude oil production rate will further augment the business landscape.  For instance, in March 2017, TechnipFMC awarded a contract by Shell Offshore Inc. for installation, integration and delivery of subsea flowline, jumper and riser (SURF) equipment and subsea production system in the Gulf of Mexico.
 

Middle East & Africa SURF Market Size, By Region, 2025 (USD Million)
Middle East & Africa SURF Market Size, By Region

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Asia-Pacific SURF industry will witness robust growth of over 10% by 2025. Rising market demand for petroleum product on account of rapid urbanization & industrialization will accelerate the market growth. In addition, positive economic outlook along with the surging E&P investments to explore the untapped energy resources will fuel the business outlook.
 

Increasing investments toward ultra-deep offshore fields coupled with growing focus to redue dependency on imported energy resources will stimulate the Europe subsea umbilicals, risers and flowlines market share. In 2017, as per European Commission, Europe imported 66.6% of energy product where gas accounted for 26%.
 

Competitive Market Share

Eminent market players across the subsea umbilicals, risers and flowlines market include Schlumberger, TechnipFMC, General Electric, Halliburton, National Oilwell Varco, Vallourec, Oceaneering International, Aker Solutions, Tenaris, Siemens, Saipem, John Wood Group PLC, Prysmian Group, McDermott, amongst others.
 

Industry has witnessed several merge and acquisition activity and technological innovation in the designing of umbilicals, risers and flowline to reinforce their leadership in the market. Furthermore, wide distribution network, cost competitiveness and product differentiation are some of the key strategies adopted by market players to enhance their market penetration.
 

SURF Industry Background

Subsea umbilical, risers and flowlines (SURF) form the safe link between the various operations in the deep sea. SURF must be able to withstand with high chemical stress, mechanical stress, operating temperature and pressure to ensure the reliable transfer of crude oil gas in the harsh environment of offshore oil and gas market. Volatile crude oil prices, increasing number of mature onshore wells and positive outlook toward marginal field are some of the key highlighted parameters positively influencing the market growth.
 


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