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Umbilical Market Size
- Report ID: GMI3764
- Published Date: Aug 2022
- Report Format: PDF
Umbilical Market Size
Umbilical Market size valued at USD 1.4 billion in 2021 and is projected to expand at a CAGR of more than 23% from 2022 to 2028. This growth is attributed to the rising energy consumption across myriad verticals.
The rapid escalation in the energy consumption rate has fostered the discovery and production of offshore oil & gas wells, which could become a prominent driver for the market growth. According to the U.S. BOEM (Bureau of Ocean Energy Management), the country’s overall federal offshore production reached around 641 million barrels of oil and 882 billion cubic feet of gas in the financial year 2020. This accounted for close to 15% of the overall domestic outcome.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Umbilical Market Size in 2021: | 1.4 Billion (USD) |
| Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 23% |
| 2028 Value Projection: | 1.7 Billion (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 165 |
| Tables, Charts & Figures: | 208 |
| Segments covered: | Depth |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Umbilical Market Scope
