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Subsea Risers Market Trends

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

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Subsea Risers Market Trends

The subsea risers industry is anticipated to observe substantial growth owing to the changing dynamics of offshore oil and gas exploration along with an increasing emphasis on producing deeper offshore fields. Growing emphasis on the implementation of cost-effective, sturdy, and reliable solutions for hydrocarbon production, leading to an accelerated deployment of such products. In addition, the evolution of materials and construction methods, incorporating corrosion-resistant alloys and cutting-edge composite materials to withstand challenging seabed conditions, is poised to shape the operational landscape.

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.