Press Release

Subsea Umbilicals, Risers, and Flowlines (SURF) Demand Growing in North America

Surging energy demand coupled with maturing onshore fields to drive North America oil & gas subsea umbilicals, risers, and flowlines (SURF) market through 2021

According to TechSci Research report North America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, By Component, By Application, Competition Forecast and Opportunities, 2011-2021, the market for oil & gas SURF is projected to grow at a CAGR of over 12% during 2016-2021, on account of increasing production from offshore fields in US Federal Gulf of Mexico. In 2015, eight fields in Gulf of Mexico started producing with four more to start production this year. All these developments are anticipated to create huge demand for oil & gas subsea umbilicals, risers and flowlines in North America during the forecast period.

Browse 4 market data Tables and 11 Figures spread through 58 Pages and an in-depth TOC on "North America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, 2011-2021"

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Flowline components garnered highest share in North America oil & gas SURF market over the past few years, owing to rising demand for flowline components across the region. Moreover, growth in this segment can also be attributed to rising output from offshore fields. As the era of easy oil is over, companies are exploring offshore in deep and ultradeep waters. Furthermore, Deepwater application dominated North America oil & gas SURF market stood in 2015 and the application is anticipated to continue dominating the market in the coming years as well. Increasing number of new offshore oil & gas discoveries in deepwater and growing implementation of government policies and regulations supporting offshore explorations is projected to trigger growth in this segment during the forecast period.

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“Availability of advanced SURF equipment is making deep and ultra-deepwater exploration and production activities technologically viable and financially feasible. As subsea technology matures, demand for SURF equipment is expected to increase, owing to rising production from offshore producing fields and exploration of new fields. This is anticipated to further fuel growth in North America oil & gas SURF market through 2021.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

North America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, By Component, By Application, Competition Forecast and Opportunities, 2011-2021has evaluated North America oil & gas SURF market and provides statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges, and opportunities available in North America oil & gas SURF market.

 

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North America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market By Component (Shallow Water, Deepwater, Ultra-Deepwater), By Application (Deepwater, Shallow Water, etc.), Competition Forecast and Opportunities, 2011-2021

Oil and Gas | May, 2017

Surging energy demand coupled with maturing onshore fields to drive North America oil & gas subsea umbilicals, risers, and flowlines (SURF) market through 2021

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