Research and Markets - Global Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market 2017-2021: Leading Players are Technip, Subsea 7 SA, Aker Solutions ASA, EMAS Offshore & McDermott International
The global market for oil & gas SURF is projected to grow at a CAGR of over 12% during 2016-2021.
Subsea equipment is used to explore, develop and bring the produced hydrocarbon from the seabed to the surface. SURF equipment i.e. subsea umbilicals, risers, and flowlines form the vital link during the various stages of oil and gas extraction. These products are manufactured using set standards that are capable of withstanding high mechanical and chemical stress operating under high temperature and pressure.
Increasing offshore field development can be attributed to technological innovations in the field of subsea equipment, which allows safe operations and efficient interconnections from topside platforms and vessels to wellheads installed on the seabed. Also, recovery in crude oil prices is projected to propel offshore exploration and production activities and this is anticipated to boost growth in global oil and gas SURF market during 2016-2021.
Flowlines dominated global oil & gas SURF market, on account of rising production from offshore fields, which require flowlines to be installed to bring the produced oil and gas from the seabed to the surface processing facility. With crude oil prices recovering and stabilizing, and companies are increasing offshore exploration activities. Also, technological innovations in the field of subsea equipment coupled with oil field service (OFS) companies offering steep discounts to improve their slowing order books is projected to boost growth in global oil & gas SURF market in the coming years.
Few of the leading players operating in the global oil 7 gas SURF market include Technip, Subsea 7 SA, Aker Solutions ASA, EMAS Offshore Limited, McDermott International Inc. and Oceaneering International among others. These companies offer a diverse range of SURF products that are used for offshore deepwater exploration and production activities.
Global Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market By
Global Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market Size, Share & Forecast
Segmental Analysis: By Component (Flowlines, Risers and Subsea Umbilicals), By Application (Deepwater, Shallow Water and Ultra-Deepwater), By Region (Europe, Middle East & Africa, Asia-Pacific, North America and South America)
Changing Market Trends & Emerging Opportunities
Competitive Landscape & Strategic Recommendations
Market Trends & Developments
Growing Investments in Offshore Exploration & Production
Increasing Partnerships and Joint Ventures
Growing Consolidation in Subsea Infrastructure Industry
Rising Production from Offshore Fields
Revenue Generation through Aftermarket Services
Rising Investments in Research & Development
Downturn in Oil & Gas Industry
Implementation of Stringent Regulations for Offshore E&P Activities