Home > Energy & Power > Oil and Gas > Upstream > Deep Depth Subsea Umbilicals, Risers and Flowlines (SURF) Market

Deep Depth Subsea Umbilicals, Risers and Flowlines (SURF) Market Trends

Report ID: GMI12109
Published Date: Nov 2024
Report Format: PDF

Download Free Sample

Deep Depth Subsea Umbilicals, Risers and Flowlines Market Trends

Deep depth SURF market is set to grow owing to increased focus on cost-effective solutions and innovative designs and ongoing exploration of hydrocarbon reserves across deep water depth in water bodies. Manufacturers are developing more efficient production processes to reduce costs while maintaining safety and performance standards. Growing emphasis on sustainability, with efforts to develop eco-friendly coatings, energy-efficient designs, and integrate renewable energy sources in subsea operations will complement the industry landscape.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The global market for deep depth subsea umbilicals, risers, and flowlines was reached USD 1.5 billion in 2023 and is projected to grow at a 7.9% CAGR from 2024 to 2032, driven by increasing exploration activities in deep-water offshore fields.

The flowlines segment is anticipated to reach over USD 1.2 billion by 2032, supported by evolving offshore oil and gas exploration and a focus on deeper offshore fields.

The U.S. market for deep depth subsea umbilicals, risers, and flowlines is estimated to exceed USD 600 million by 2032, driven by new reserve explorations and supportive government regulations.

Key industry players include Aker Solutions, ArcelorMittal Downstream Solutions, Baker Hughes, Bartell Machinery, Dril-Quip, Halliburton, John Wood Group, NOV, Oceaneering International, Prysmian Group, Saipem, SLB, Subsea7, TechnipFMC, Tenaris, and VALLOUREC.