Global Subsea
Umbilical Risers and Flowline Market study is providing you with the up-to-date,
actionable market information and projections with the latest impact of the
Covid 19 outbreak. It offers all the requisite data to support tactical
business decisions and come up with strategic growth plans. This study also
proposes a comprehensive insight into the development policies and plans in
addition to manufacturing processes and cost structures.
The Subsea Umbilical Risers
and Flowline Market is expected to witness substantial growth over the
forecast. In the last few years, offshore oil exploration extraction activity
has been on an increase. Innovative platforms are being constantly installed in
different areas of world and operate in deeper waters. Safe and efficient
interconnection from top platform & vessels to the well heads and pumps on
the seafloor is crucial to conduct transmission of power and data to ensure
hydraulic and other fluids to conduct seamless oil extraction operations.
Subsea Umbilical Risers and Flowlines form a vital link in various operations
as they offer efficiency, seamless transmission and more over are
cost-efficient. On the basis of type, the global subsea umbilical risers and
flowline market is segmented into umbilicals, risers, and flowlines.
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Umbilicals provide a full
range of solutions with innovative designs, materials and state-of-the-art
processes to address all requirements of sea operations. Overall, umbilicals
are designed to match static and dynamic applications in water and comprise any
possible combination of hydraulic lines, low-voltage electrical cables,
medium-power voltage transmission and optical signal elements. With the growth in commercial marine trade
and operations, the demand for efficient subsea umbilical risers and flowlines
have increased. Thus, the global market is anticipated to grow at a higher CAGR
during the forecast period.
The key driving factors
responsible for the growth of global subsea umbilical risers and flowline
market include growth in offshore field development owing to technological
developments allowing safe operations and efficient interconnections between
top platforms and vessels to wellheads mounted on seabed. Additionally,
recovery in crude oil costs to enhance offshore exploration and production
activities is expected to boost the market growth. Moreover, technological
innovations in line with oil field service companies providing reasonable
discounts are anticipated to boost the market growth. On the basis of
application, the global subsea umbilical risers and flowline market is
segmented into shallow water oil & gas fields, deepwater oil & gas
fields, Ultrawater deepwater oil & gas fields.
On the basis of geographic
segmentation, the global subsea umbilical risers and flowline market spans
North America, Latin America, Europe, Middle-East, Asia-Pacific and Africa.
Middle-East regions are anticipated to grow during the significant period owing
to presence of oil-fields and oil-wells in the region. North America is
anticipated to grow during the forecast period in terms of value and safety.
APAC regions such as China, India and Japan are estimated to witness a higher
CAGR growth during the forecast period.
The key players in the
global subsea umbilical risers and flowline market include ABB Ltd, Airborne
Oil & Gas B.V., CAMERON INTERNATIONAL CORPORATION, Aker Solutions ASA,
Dril-Quip Inc, EMAS Offshore Limited, General Electric Company, Konsberg
Gruppen, McDermott Internation Inc, National Oilwell Varco Inc, Nexans SA,
Prysmian S.p.A, Saipem SpA, Oceaneeing International Inc, Siemens AG, Subsea 7
SA, Technip, and Vallourec.
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