Subsea Umbilicals, Risers & Flowlines Market Industry Analysis Report, Regional Outlook (U.S., Canada, Norway, Netherland, Romania, Russia, Poland, China, Indonesia, Malaysia, Saudi Arabia, Qatar, UAE, Kuwait, Algeria, Angola, Nigeria, Brazil, Argentina), Application Potential, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3515
Flourishing demand for the oil & gas geared with the rising deep and ultradeep sea development projects will propel the growth across subsea umbilicals riser & flowlines (SURF) market. Increasing deep water exploration and implementation of capital-intensive methods in recovering the unconventional resources to enhance the oil productivity will encourage the product installation.
Growing complexities and stringent environmental regulation for the subsea production system will foster the SURF market. The system consists of the three elements including umbilicals, riser and flowlines. The umbilical cable is the dynamic or static cable which links the surface, processing & production system. In addition, growing deployments across the subsea production facilities in order to reduce the operational complexities will augment the industry outlook.
Stringent safety standards across the subsea production facility will propel the subsea umbilicals riser & flowlines market growth. The risers provide the connectivity between flowlines and the surface facilities. while the flowlines are used to transport the unprocessed fluids to the riser from the subsea wells. The industry holds massive growth prospects with the array of products including bend restrictors, bend stiffeners, and crossing supports. These products are installed to enhance the operationality of the SURF equipment and provide the safe and secure operations.
Increasing research and development activities across the industry in order to develop durable, high strength equipment and high-quality raw material will drive the subsea umbilicals riser & flowlines market share. The complexity associated with the subsea production tends to rise due to the stringed environmental norms and deep & ultra-deep drilling. However, ongoing technological advancements to rectify the complexities in accordance with the standards and the norms will positively enhance the industry outlook.
Increasing number of mature fields across the Russia and Romania along with declining production from onshore fields will propel the Europe subsea umbilicals riser & flowlines market growth. The region holds maximum share of the global SURF market owing to rising production activities across Norway. In addition, substantial government investments and measures to boost the domestic production will further augment the industry landscape.
North America subsea umbilicals riser & flowlines market is expected to grow on account of robust shale gas development and increased focus to develop subsea oilfield. Ongoing discoveries across the Permian Basin along with extensive technological capabilities will enhance the industry growth.
Eminent players operating across the SURF market includes TechnipFMC, Saipem, Ocean engineering, General Electric, C-innovation, Prsymian, Vallourec, Siemens AG, and Subsea7.
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