Subsea Umbilicals, Risers and Flowlines Market Size – By Water Depth, By Product, Analysis, Share, Growth Forecast, 2025 - 2034

Subsea Umbilicals, Risers and Flowlines Market Size

The global subsea umbilicals, risers and flowlines market size was valued at USD 5.1 billion in 2024 and is projected to grow at over 7.3% CAGR from 2025 to 2034. Increasing focus on exploration and operating in deeper offshore fields, coupled with declining easily accessible oil reserves.
 

Rising floating rig installations and increasing need for efficient systems to transport oil and gas from underwater sources to processing facilities will positively influence the business dynamics. Moreover, the increasing investments in hydrocarbon and oil & gas exploration across various regions to meet the growing energy demand will augment the industry outlook.
 

Subsea Umbilicals, Risers and Flowlines Market Trends

The subsea umbilicals, risers and flowlines industry is set to grow on account of growing focus on deep offshore field development and changing dynamics in offshore oil and gas exploration. Ongoing innovations focusing on enhancing system efficiency and durability through the development of advanced materials coupled with the integration of digital technologies for continuous monitoring and proactive maintenance will boost the industry growth.
 

Flourishing investments to explore hydrocarbons along with industry players are prioritizing cost-effectiveness by exploring groundbreaking designs and stringent safety and performance standards, influencing the industry outlook. For instance, in October 2024, Baker Hughes landed a significant contract with Petrobras to supply flexible pipe systems for Brazil's pre-salt fields. The deal covers 77 km of pipes for oil production, gas injection, and water injection across several offshore sites, including Búzios and Libra with the deliveries set to begin in mid-2026.
 

Subsea Umbilicals, Risers and Flowlines Market Analysis

Shallow segment is anticipated to grow over USD 5.5 billion by 2034. The shallow depth SURF industry holds the dominant position in the industry and is expected to experience significant growth owing to increasing capital expenditure in exploration and production activities. The ongoing exploration of marginal oil reserves, growing number of discoveries, and technological advancements in system design to enhance operational efficiency is set to boost the shallow depth SURF industry landscape.
 

The deep-water SURF market is set to grow driven by the abundance of offshore oil fields, ongoing production of oil and natural gas, and increased investment in deep and ultra-deep hydrocarbon reserves. The growing demand for energy resources, combined with ongoing research and development efforts to introduce advanced technologies, is shaping the deep depth SURF industry growth.
 

The subsea umbilicals, risers and flowlines market from flowlines segment is set to observe a CAGR of over 6.5% through 2034. Introduction of new ventures across deepwater and ultra-deepwater drilling locations along with the ability to transmit chemical fluids and electric signals, making them essential for offshore operations accelerating the product demand. Implementation of stern mandates to ensure safety during underwater operations, increasing preference for both flexible and rigid flowline solutions, and the rising digitalization and automation of drilling operations, will boost the subsea flowlines industry landscape.
 

U.S. subsea umbilicals, risers and flowlines market is poised to cross USD 1 billion by 2034. Growing investments in energy-intensive sectors, increasing energy demand, abundant availability of vast offshore oil & gas reserves, and continuous exploration activities across the country will complement the industry growth. Flourishing investments for exploration of hydrocarbons, favorable government outlook development of unconventional resources is shaping the industry landscape.
 

For instance, in June 2024, U.S. Energy Development Corporation is expanding its operations in the Permian Basin for development of this highly productive oil and gas region. Over the next 12 months, U.S. Energy plans to deploy more than USD 750 million, with most of this capital allocated to projects in the Permian Basin.
 

Subsea Umbilicals, Risers and Flowlines Market Share

Various companies in the subsea umbilicals, risers, and flowlines industry, are forging partnerships and embracing new technologies to strengthen their market positions. Key industry players are engaging in mergers, acquisitions, and production facility expansions, introducing technological advancements is expected to significantly influence the industry dynamics.
 

Subsea Umbilicals, Risers and Flowlines Market Companies

Major players operating across the industry include:

• Aker Solutions
• ArcelorMittal
• Baker Hughes
• DeRegt Cables
• Dril-Quip
• Halliburton
• JDR Cable Systems
• John Wood Group
• Oceaneering International
• Oil States Industries
• Prysmian Group
• Saipem
• Schlumberger
• Subsea7
• TechnipFMC
• Tenaris
• Vallourec
   

Subsea Umbilicals, Risers and Flowlines Industry News

• In October 2024, TechnipFMC has obtained a key contract from BP for the Kaskida development in the Gulf of Mexico. The integrated EPC and installation (iEPCI) deal includes designing and fabrication of subsea production systems, such as high-pressure trees and manifolds, as well as installing subsea umbilicals, risers, and flowlines. This agreement, valued between USD 250 million and USD 500 million, builds on TechnipFMC's previous front-end engineering and design work for the project.
   
• In March 2024, Subsea 7 S.A. has secured a major contract from Woodside Energy for a project located 30 km south of the U.S.-Mexico border and 180 km from the Mexican coast at a depth of 2,600 m, is a joint venture between Woodside and Pemex. Subsea 7 will handle the engineering, construction, and installation of subsea components, including umbilicals, risers, and flowlines, for the wet tree subsea system connected to a floating production unit. Work will begin immediately at Subsea 7's U.S. and Mexican offices, with offshore activities planned for 2026-2027.
   

The subsea umbilicals, risers and flowlines market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Feet” and “USD Million” “‘from 2021 to 2034, for the following segments:

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Market, By Water Depth

• Shallow
  • Umbilicals
  • Risers
    • SCR
    • Flexible
    • Others
  • Flowlines
• Deep
  • Umbilicals
  • Risers
    • SCR
    • Flexible
    • Others
  • Flowlines
• Ultra Deep
  • Umbilicals
  • Risers
    • SCR
    • Flexible
    • Others
  • Flowlines

Market, By Product

• Umbilicals
• Risers
  • SCR
  • Flexible
  • Others
• Flowlines

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Norway
  • Netherlands
  • Russia
• Asia Pacific
  • China
  • India
  • Indonesia
  • Malaysia
  • Thailand
  • Australia
• Middle East & Africa
  • Angola
  • Nigeria
  • Egypt
  • Qatar
  • Saudi Arabia
  • UAE
• Latin America
  • Brazil