The Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market is one of the most important industries in the world. It’s responsible for providing energy to power our homes, businesses, and vehicles. And while there are many different aspects to this industry, one of the most critical is subsea umbilicals, risers, and flowlines (SURF). SURF systems are used to transport oil and gas from the seabed to an offshore platform or facility. These systems are essential for the safe and efficient operation of offshore oil and gas facilities. The global oil and gas SURF market is expected to grow at a CAGR of 5.5% from 2022 to 2029. This growth is being driven by the increasing demand for oil and gas, as well as the need for more efficient transportation methods.
The Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market is one of the most important industries in the world economy. The industry includes many upstream and downstream activities starting from the extraction of crude oil and natural gas to refining them into various finished products such as gasoline, propane, etc. Subsea umbilicals, risers & flowlines (SURF) play an important role in this industry by connecting offshore oil & gas production facilities with onshore refineries through a network of pipelines.
The SURF market is classified into three segments namely, umbilicals, risers, and flowlines. Umbilicals are flexible pipes that connect subsea equipment with surface facilities. Risers are used to connect subsea equipment with floating production platforms. Flowlines are used to transport hydrocarbons from subsea wells to processing facilities. The rising demand for energy coupled with technological advancement in the oil and gas industry is expected to drive the growth of SURF market during the forecast period.
Government initiatives such as the Make in India campaign launched by the Indian government and the National Offshore Wind Strategy released by the US Department of Energy are some of the factors that are expected to create huge demand for SURF in near future. Some of the key players operating in this market include Aker Solutions
TO KNOW HOW COVID-19 PANDEMIC AND RUSSIA UKRAINE WAR WILL IMPACT THIS MARKET
The COVID-19 pandemic has impacted the global oil & gas subsea umbilicals, risers & flowlines (SURF) market in a number of ways. Firstly, the outbreak of the pandemic has led to a decrease in demand for oil and gas, which in turn has had an impact on investment in SURF infrastructure. Secondly, the pandemic has also caused disruptions to the supply chain for SURF components and materials, leading to cost increases and project delays. Finally, the ongoing Russia-Ukraine conflict is also having an impact on the market, as tensions between the two countries continue to escalate.
In terms of market opportunities, despite the challenges posed by the pandemic and the Russia-Ukraine conflict, there are still significant growth prospects for the global SURF market. This is due to the increasing demand for oil and gas from emerging economies such as China and India, as well as continued investment in deepwater exploration and production projects.
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The global Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market is expected to grow at a CAGR of 4.13% during the forecast period from 2019 to 2027. The market was valued at USD 10.79 billion in 2018 and is projected to reach USD 14.40 billion by 2027.
The growth of the SURF market is primarily driven by the increasing offshore oil and gas exploration activities, coupled with the rising demand for energy. Additionally, the development of new fields and the extension of existing ones are also anticipated to fuel the market growth over the forecast period. However, the high installation cost associated with SURF systems is expected to restrain market growth in the coming years.
The SURF market has been segmented on the basis of components, location, water depth, application, and region. On the basis of components, the market has been bifurcated into umbilicals, risers & flowlines (SURF), and subsea connectors & jumpers. Among these segments, umbilicals held a dominant position in 2018 owing to their wide use in deepwater applications for transmitting hydraulic power as well as electrical and fiber optic signals between subsea equipment and surface facilities. Based on location, the global SURF market has been divided into onshore and offshore segments. The offshore segment led the overall SURF market in 2018 due to a growing number of offshore oil & gas exploration activities
An overview of the global Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Industry market, and related technologies and developments. Analyses of global market trends, with historical data from 2018, 2019, and 2020 estimates and projections of CAGRs through 2029. It also includes breakdowns of the overall Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Industry market along with various segments, and by geographic region. Analysis of the stakeholder value chain in the Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Industry market and comprehensive profiles of leading companies in the industry
The report forecasts the size of the Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Industry market for components from 2022 through 2029
The Executive Summary provides a snapshot of the key findings of the report. The introduction chapter includes the research scope, market segmentation, research methodology, and definitions and assumptions. It involves extremely rigorous scientific methods, tools, and techniques to estimate the market size. Exhaustive secondary research is being carried out to collect information related to the market, the parent market, and the peer market. Primary research is undertaken to validate the assumptions, findings, and sizing with industry experts and professionals across the value chain of the market. Both top-down and bottom-up approaches are employed to estimate the complete market size.
The chapter on market dynamics includes market drivers, restraints, and opportunities which helps familiarise with market potential and upcoming opportunities. The chapter on key insights includes emerging trends from major countries, latest technological advancement, regulatory landscape, SWOT analysis, and porters five forces analysis. This chapter provides detailed insights into the market, which derives the market trends, changing phase of investments, scope of profit potential, and helps to take appropriate business decisions. The chapter on competitive analysis includes profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.
After deriving the market size from the market size estimation process, the total market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, data triangulation and market breakdown procedures is being used. The data triangulation is carried out by studying various factors and trends from demand and supply perspectives.
The Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Industry market is segmented on the basis of Type, Application , and Region.
Global Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Industry Market Competitive Analysis:
Key players in the Global Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Industry market are Aker Solutions, Technip, FMC Technologies, Prysmian Group, Vallourec, Nexans, JDR, Oceaneering, and other players.
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This study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2029. Global Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Industry market is distributed on the basis of the below-mentioned segments:
Global Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Industry Market, By Type:
- Risers and Flowlines
Global Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Industry Market, By Application:
- Shallow Water Oil & Gas Fields
- Deepwater Oil & Gas Fields
- Ultra-Deepwater Oil & Gas Fields
Global Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Industry Market, By Region:
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Key questions answered in this report
- What will the market size be in 2029 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Table of Contents: Virtualized Evolved Packet Core Market
- Part 1: Overview of Virtualized Evolved Packet Core Market
- Part 2: Virtualized Evolved Packet Core Carts: Global Market Status and Forecast by Regions
- Part 3: Global Market Status and Forecast by Types
- Part 4: Global Market Status and Forecast by Downstream Industry
- Part 5: Market Driving Factor Analysis
- Part 6: Market Competition Status by Major Manufacturers
- Part 7: Major Manufacturers Introduction and Market Data
- Part 8: Upstream and Downstream Market Analysis
- Part 9: Cost and Gross Margin Analysis
- Part 10: Marketing Status Analysis
- Part 11: Market Report Conclusion
- Part 12: Virtualized Evolved Packet Core: Research Methodology and Reference
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