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Middle East & Africa Subsea Flowlines Market was valued at over USD 1.1 billion in 2023 and is anticipated to grow at a CAGR of 5.6% between 2024 and 2032. Ongoing expansion of exploration and operations in deep offshore oil fields is driving the demand for reliable systems for transportation of oil and gas to processing facilities, further complementing the industry landscape.
Flourishing investments in exploring hydrocarbon reserves in water bodies, along with rising installation of floating rigs, will further influence the business dynamics. For instance, in July 2024, The Egyptian government has unveiled USD 200 million investment in five companies, including the Egyptian General Petroleum Corporation and the Egyptian Natural Gas Holding Company, to boost oil and gas exploration efforts.
Report Attribute | Details |
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Base Year: | 2023 |
Middle East & Africa Subsea Flowlines Market Size in 2023: | USD 1.1 Billion |
Forecast Period: | 2024 – 2032 |
Forecast Period 2024 – 2032 CAGR: | 5.6% |
2024 – 2032 Value Projection: | USD 1.9 Billion |
Historical Data for: | 2021-2023 |
No. of Pages: | 65 |
Tables, Charts & Figures: | 10 |
Growth Drivers: |
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Pitfalls & Challenges: |
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The Middle East & Africa subsea flowlines industry is anticipated to grow on account of driven by an intensified focus on developing deep offshore fields and evolving dynamics in offshore oil and gas exploration. Increased investments in hydrocarbon production and exploration across diverse water depths, along with spending on maintaining existing infrastructure, will bolster the industry's prospects. Furthermore, favorable regulatory landscape toward oil & gas sector and ongoing technological enhancements for rigid and flexible flowline solutions have positively influence the industry landscape.
Shallow depth segment is set to reach over USD 1.2 billion by 2032. Increased investments in the expansion of offshore oil and gas projects, coupled with the ongoing implementation of advanced recovery techniques, is set to augment the industry landscape. Furthermore, the growing adoption of automation and digitalization, along with the introduction of new strategies by various regional oil companies allocating significant budgets to production and exploration, will positively influence the shallow depth SURF business outlook.
The deep-water depth segment is anticipated to witness significant growth, on account of active oil fields across the region along with robust natural gas and oil production. Accelerating investments in both deep and ultra-deep hydrocarbon fields, coupled with a growing focus on petrochemical production to meet rising demand, will complement industry outlook. Moreover, strategic inclination toward minimizing reliance on imported energy, together with robust exploration of deep offshore oil fields, further augmenting the industry landscape.
UAE subsea flowlines market is set to grow over USD 360 million by 2032. Availability of abundant offshore oil and gas reserves, active exploration and production activities, and shifting inclination toward energy conservation will positively influence the business landscape. Rising investments in exploring new discovered crude oil reserves and a positive outlook for unconventional resource development, will complement the industry landscape. Furthermore, government policies and regulations, along with growing demand for enhanced energy resources for various industry operations, will further propel the Middle East & Africa SURF industry outlook.
Key players in the Middle East & Africa subsea flowlines industry are aiming to form strategic agreements and collaborations, while also introducing innovative technologies, to enhance their competitive advantage. Major companies including Halliburton, Aker Solutions, Baker Hughes Company, TechnipFMC plc, John Wood Group PLC, and SUBSEA7, among other, holds majority of the market share.
Major manufacturers operating across the industry consists of:
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Market, By Water Depth
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