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Middle East and Africa Umbilicals Market Share

Report ID: GMI12412
Published Date: Nov 2024
Report Format: PDF

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Middle East & Africa Umbilicals Market Share

Key players in the subsea umbilicals market are prioritizing strategic partnerships and collaborations for new projects. They are also introducing advanced technologies to strengthen their market position. Ongoing initiatives, including mergers and acquisitions, along with the expansion of manufacturing facilities by major industry participants, are expected to significantly influence industry dynamics throughout the forecast period.

Middle East & Africa Umbilicals Market Companies

Major players operating across the industry include:

Aker Solutions
Baker Hughes
Halliburton
McDermott
Nexans
NOV
Oceaneering
OneSubsea
Saipem
Syensqo
TechnipFMC
Tenaris
Tratos
Vallourec
Wood Group

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The Middle East & Africa umbilicals market was reached USD 880.2 million in 2024 and is estimated to grow at a 6.4% CAGR from 2025 to 2034, driven by increasing energy demand and deeper offshore oil & gas exploration.

The shallow segment is set to reach over USD 910 million by 2034, supported by investments in production and exploration activities and technological advancements in system design.

The UAE umbilicals market is likely to exceed USD 310 million by 2034, led by the development of unconventional resources, new crude oil reserves, and investments in digital and automated drilling technologies.

Key industry players include Aker Solutions, Baker Hughes, Halliburton, McDermott, Nexans, NOV, Oceaneering, OneSubsea, Saipem, Syensqo, TechnipFMC, Tenaris, Tratos, Vallourec, and Wood Group.