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Subsea Risers Market Share

Report ID: GMI8128
Published Date: Feb 2024
Report Format: PDF

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Subsea Risers Market Share

The subsea risers industry is marked by competition among various global and regional players. These firms are actively involved in providing solutions for subsea risers in oil and gas applications. Numerous large-scale competitors such as 2H Offshore Engineering Ltd., Aceton Group, Vallourec, Sapiem SpA, Halliburton, and Aker Solutions, among others, are actively engaged in fierce competition within the industry. They are not only providing an extensive array of flowline solutions but also introducing innovative products to enhance their presence across different geographical regions.

Subsea Risers Market Companies

The key market players operating across the industry include:

2H Offshore Engineering Ltd.
Acteon Group Ltd.
Aker Solutions
Aquaterra Energy Limited
Baker Hughes Company
Dril-Quip, Inc.
Halliburton
HOHN GROUP
Kinetic Pressure Control
Oil States Industries, Inc.
SLB
TechnipFMC plc
Tenaris
Vallourec
Weatherford

The ongoing technological advancements along with the accelerating investments in the R&D by key players and introduction of innovative technologies and functionalities in subsea risers will complement the industry landscape. For instance, in May 2022, Oil States Industries launched the Merlin 15K HPHT Riser System, a groundbreaking offshore drilling technology with ISO13628-7 rating for 126°C, sour service, and 15,000 psi. Developed in collaboration with TotalEnergies, it enables drilling in shallow waters from a jackup rig, offering substantial cost savings compared to traditional semi-submersible rigs. The system stands out for its efficiency, safety, and plug-and-play simplicity, representing a game-changing advancement in offshore drilling for increased economic viability and exploration potential. Furthermore, the increasing demand for energy-efficient systems capable of transporting crude oil and gas to processing plants, coupled with rising investments in subsea projects and the growing deployment of floating rigs, will positively contribute to the industry outlook.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The market valuation of the subsea risers was reached USD 726.4 million in 2023 and is poised to expand at 8.4% CAGR through 2032, driven by the increasing emphasis on exploring and operating progressively deeper offshore fields.

Flexible subsea riser market accounted for 45.2% revenue share in 2023 and is projected to record substantial growth through 2032, owing to its adaptability to seabed irregularities and stability over extended distances.

Middle East & Africa subsea risers industry size is set to surpass USD 630 million by 2032 attributed to the ongoing development of unconventional resources and escalating investments in the exploration of newly discovered crude oil reserves.

Some major subsea risers manufacturers are 2H Offshore Engineering Ltd., Acteon Group Ltd., Aker Solutions, Baker Hughes Company, Dril-Quip, Inc., Halliburton, HOHN GROUP, Kinetic Pressure Control, Oil States Industries, Inc., SLB, TechnipFMC plc, Tenaris, Vallourec, and Weatherford, among others.