North America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF) Market is projected to grow at a CAGR of 6.93% by 2028: TechSci Research

The North America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF) Market are poised for growth from 2024-2028 due to increasing demand for energy-efficient solutions for crude oil and gas transportation. TechSci Research forecasts robust growth in its report "North America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF) Market - By Country, Competition, Forecast, and Opportunities, 2018-2028", attributing this to advancements in subsea production systems.

Integration of renewable energy sources like offshore wind farms with traditional oil and gas infrastructure offers significant opportunities, enabling SURF systems to transport both electricity and hydrocarbons simultaneously. Digitalization and automation technologies are set to revolutionize the market, improving operational efficiency through real-time monitoring and predictive maintenance. This shift towards Industry 4.0 principles opens up new opportunities for software and hardware providers in the SURF sector.

Browse over XX market data Figures spread through 135 Pages and an in-depth TOC on "North America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market”

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The Flowlines segment leads the market due to its vital role in transporting oil, gas, and hydrocarbons from subsea wells to production facilities. Growth in deepwater and ultra-deepwater exploration drives this segment, with a rising demand for efficient systems. Advanced materials like corrosion-resistant alloys and composites are trending, enhancing durability in corrosive environments. Hybrid flowline systems, blending rigid and flexible components, gain popularity for versatile offshore applications. Sustainable practices drive the development of eco-friendly solutions, emphasizing compliance with regulations and leak prevention.

In terms of type, the Shallow Water segment is forecasted for growth. Despite holding less extensive resources than deepwater, shallow water reserves offer economic feasibility and lower development costs. Operators benefit from digitalization and remote monitoring for effective asset management, optimizing operations with real-time analytics and predictive maintenance. Environmental regulations shape exploration and production practices, with a focus on decommissioning aging infrastructure in shallow waters.

Top of Form

Major companies operating in North America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market are:

  • TechnipFMC
  • Subsea 7
  • Aker Solutions
  • National Oilwell Varco
  • Baker Hughes
  • Oceaneering International
  • Saipem
  • McDermott International
  • Prysmian Group
  • Forum Energy Technologies

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"Mr. Karan Chechi, Research Director at TechSci Research, predicts the US will lead the market, driven by increased environmental awareness and regulations. Operators are investing in leak detection, carbon capture, offshore wind integration to meet sustainability goals."

"TechSci Research's report 'North America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market By Product, Type, Country, Competition Forecast & Opportunities, 2018-2028' assesses the region's market potential, size, structure, and growth, providing actionable insights for decision-makers. It highlights emerging trends, drivers, challenges, and opportunities."

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