Dublin, Jan. 05, 2024 (GLOBE NEWSWIRE) -- The "Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the Oil & Gas Subsea Umbilical, Risers & Flowlines (SURF) Market is forecast to surpass US$10.19 billion in 2024, with strong revenue growth through to 2034.
Deepwater Exploration and Production Opportunities
The increasing focus on deepwater oil and gas exploration and production activities is a key driver for the global subsea umbilical, risers, and flowlines (SURF) market. As traditional reserves are depleting, the industry is compelled to explore deeper waters to meet global energy demands. The development of advanced SURF systems is essential to extract hydrocarbons from these challenging deepwater environments. For instance, the Gulf of Mexico's deepwater projects, such as the Perdido development, rely heavily on sophisticated SURF systems to transport hydrocarbons efficiently from the seabed to the surface facilities.
Growing Subsea Field Developments
The increasing number of subsea field developments globally is a significant driving factor for the SURF market. Oil and gas operators are expanding their offshore portfolios, and subsea tie-backs to existing infrastructure or standalone subsea developments require robust SURF systems. One example is the Johan Castberg project in the Barents Sea, where the development of subsea infrastructure necessitates the deployment of comprehensive SURF solutions to connect wells to production facilities efficiently.
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising oil & gas subsea umbilical, risers & flowlines (SURF) prices and recent developments.
Key Market Dynamics
Market Driving Factors
- The Increasing Trend of Offshore Exploration and Production Activities, Particularly in Deepwater and Ultra-Deepwater Regions
- Ongoing Technological Advancements in Subsea Engineering and Manufacturing Play A Pivotal Role in Market Growth
- Rapid Advancement in Subsea Production Systems
Market Restraining Factors
- The Crude Oil Sector Is Recognised as One of the Largest Sources of VOC Emission in to the Environment
- High Cost Associated with Offshore Drilling
- The Potential Environmental Impact of Deepwater Drilling and Production Activities Poses a Challenge for the SURF Market
Market Opportunities
- Strategic Investments by Major Oil and Gas Companies Opportunities
- Growing Consolidation in Subsea Infrastructure Industry
- Implementation of Stringent Regulations for Offshore E&P Activities
Segments Covered in the Report
Market Segment by Application
- Exploration Wells
- Production Wells
Market Segment by Component
- Umbilicals
- Risers
- Flowlines
Market Segment by Flowlines
- Production Flowlines
- Injection Flowlines
- Export Flowlines
- Other Flowlines
Market Segment by Risers
- Steel Catenary Risers (SCR)
- Top Tensioned Risers (TTR)
- Steel Lazy Wave Risers
- Buoyant Risers
- Flexible & Hybrid Risers
Market Segment by Umbilicals
- Hydraulic Umbilicals
- Electro Hydraulic Umbilicals
- Electro-Optical Umbilicals
- Control Umbilicals
- Intervention Umbilicals
- Production Umbilicals
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
The report also includes profiles and for some of the leading companies in the Oil & Gas Subsea Umbilical, Risers & Flowlines (SURF) Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies and the potential for market growth
- Baker Hughes Company
- Cameron International Corporation
- FMC Technologies Inc.
- General Electric Company
- Haliburton Corporation
- JDR Cable Systems Ltd.
- McDermott International, Ltd
- National Oilwell Varco Inc.
- Oceaneering International, Inc.
- Saipem S.p.A.
- Siemens AG
- Subsea 7 S.A.
- TechnipFMC plc
- Vallourec S.A.
- Weatherford International plc
In summary, the report provides you with the following knowledge:
- Revenue forecasts to 2034 for Oil & Gas Subsea Umbilical, Risers & Flowlines (SURF) Market, 2024 to 2034 Market, with forecasts for application, component, flowlines, risers, and umbilicals, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for four regional and 20 key national markets - See forecasts for the Oil & Gas Subsea Umbilical, Risers & Flowlines (SURF) Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, France, Norway, Russia, China, India, Indonesia, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Oil & Gas Subsea Umbilical, Risers & Flowlines (SURF) Market, 2024 to 2034.
For more information about this report visit https://www.researchandmarkets.com/r/s0m1v5
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