Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Product (Flowlines, Umbilicals and Risers), By Type (Shallow Water, Deep Water and Ultra Deep Water), By Region, Competition 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 5.33 Billion
CAGR (2026-2031)	9.04%
Fastest Growing Segment	Flowlines
Largest Market	Asia Pacific
Market Size (2031)	USD 8.96 Billion

Market Overview

The Global Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market will grow from USD 5.33 Billion in 2025 to USD 8.96 Billion by 2031 at a 9.04% CAGR. Subsea Umbilicals, Risers, and Flowlines, collectively known as SURF, are the essential underwater conduits and control systems linking seabed wellheads to surface production platforms to facilitate hydrocarbon transport and data transmission. The primary drivers supporting market growth include the revitalization of deepwater exploration and the strategic shift toward subsea tiebacks which optimize production from existing infrastructure. These factors are further strengthened by the global demand for energy security, compelling operators to develop remote offshore reserves that require extensive subsea networks for efficient resource recovery.

One significant challenge impeding market expansion involves supply chain constraints and elevated raw material costs that complicate project timelines and profitability. According to the International Energy Agency, in 2024, global upstream oil and gas investment is expected to rise by 7% to USD 570 billion. This increase highlights a capital intensive environment where fluctuating input prices can delay final investment decisions for major subsea developments and impact the scheduling of complex installation campaigns.

Key Market Drivers

The resurgence in offshore Exploration and Production (E&P) capital expenditure constitutes a fundamental driver for the market, particularly within deepwater environments. Energy companies are increasingly sanctioning complex greenfield developments to secure long-term reserve replacement, necessitating the extensive installation of umbilical and flowline networks to transport hydrocarbons from the seabed to the surface. This trend is evidenced by major investment decisions in emerging basins where new production hubs require comprehensive subsea architecture. According to TotalEnergies, October 2024, in the 'GranMorgu Project Final Investment Decision' press release, the energy major announced a USD 10.5 billion investment to develop offshore reserves in Suriname, a project requiring substantial subsea infrastructure to access remote resources. Such capital injections directly accelerate demand for high-specification risers and flowlines capable of withstanding high-pressure deepwater conditions.

Concurrently, the rise in cost-effective subsea tie-back and brownfield redevelopment projects is reshaping procurement strategies. Operators are prioritizing short-cycle developments that utilize existing infrastructure to maximize returns and minimize carbon intensity, rather than commissioning new surface facilities. This approach relies heavily on connecting remote wellheads to established hubs via extended subsea conduits. According to Aker BP, July 2024, in the 'Second Quarter 2024 Report', the operator confirmed a projected capital spend of approximately USD 5 billion for the year, driven significantly by the execution of multiple subsea tie-back projects across the Norwegian Continental Shelf. The sustained momentum in this sector creates a favorable contracting environment for equipment manufacturers. According to TechnipFMC, in 2024, this robust demand was reflected when the company reported subsea inbound orders of USD 2.5 billion in the third quarter alone, underscoring the health of the equipment market.

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Key Market Challenges

Supply chain constraints and elevated raw material costs constitute a substantial impediment to the expansion of the Global Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market. This challenge hampers growth by introducing severe volatility into project economics, causing operators to hesitate before committing to Final Investment Decisions (FIDs). The manufacturing of SURF components requires specialized materials, such as high-grade steel and advanced polymers, which have experienced significant price fluctuations. When these input costs rise unexpectedly, the capital expenditure (CAPEX) required for deepwater projects increases, often eroding the projected margins of subsea tiebacks and greenfield developments. Consequently, projects that were previously deemed commercially viable may be postponed or cancelled as operators reassess their financial exposure.

Furthermore, these logistical bottlenecks extend beyond pricing to affect delivery schedules. The specialized nature of subsea manufacturing means that limited fabrication capacity can lead to extended lead times, disrupting the precise scheduling required for offshore installation campaigns. This misalignment often results in costly delays, as installation vessels must be booked years in advance. According to Offshore Energies UK, in 2024, the industry identified a potential expenditure of £450 billion on energy infrastructure development by 2040, yet this capital deployment is currently at risk due to persistent supply chain instability and resource scarcity. Such uncertainty discourages long-term investment, directly stalling the momentum of the SURF market despite rising energy demand.

Key Market Trends

Widespread Adoption of Integrated EPCI (iEPCI) Contract Models is fundamentally altering procurement strategies by consolidating subsea umbilicals, risers, and flowlines (SURF) with subsea production systems (SPS) under single commercial agreements. This integrated approach mitigates project execution risks by eliminating interface inefficiencies between distinct work packages, thereby accelerating time-to-first-oil for complex offshore developments. Operators are increasingly favoring this model to lock in cost certainty and leverage standardized equipment configurations that streamline fabrication and installation phases. According to TechnipFMC, February 2025, in the 'TechnipFMC Announces Fourth Quarter 2024 Results' press release, the company reported that the value of its iEPCI awards grew nearly 25% in 2024 compared to the prior year, reflecting the sector's decisive shift toward these unified contracting structures to optimize capital deployment.

Concurrently, the Increasing Utilization of Thermoplastic Composite Pipes (TCP) is gaining traction as a superior alternative to traditional steel and flexible pipe solutions in deepwater environments. This trend is driven by the material’s inherent resistance to corrosion and fatigue, which significantly reduces operational expenditure and extends the service life of subsea infrastructure. Unlike metallic counterparts, TCP is lightweight and spoolable, allowing for rapid deployment using smaller, less costly vessels, which is critical for economically marginal fields. This technological shift was highlighted when, according to World Pipelines, August 2025, in the 'Strohm to supply production TCP Jumpers to a major Southeast Asian operator' article, Strohm secured a contract to deliver four TCP jumpers for gas production service in water depths of up to 1,500 meters offshore Malaysia, validating the material's viability for high-specification deepwater applications.

Segmental Insights

The flowlines segment is emerging as the fastest-growing category within the global SURF market due to the increasing prioritization of deepwater and ultra-deepwater exploration activities. As energy companies seek to optimize capital expenditure, there is a substantial rise in subsea tie-back projects that connect satellite wells to existing production facilities, necessitating extensive flowline installations. This operational shift creates a distinct demand for durable transportation infrastructure to move hydrocarbons from the seabed to surface platforms. Consequently, the expansion of mature offshore fields directly propels the requirement for these critical subsea conduits to maintain production efficiency.

Regional Insights

Asia Pacific maintains a leading position in the Global Oil & Gas Subsea Umbilicals, Risers, and Flowlines market due to escalating energy demand across developing economies such as China and India. The region has experienced a marked increase in offshore exploration activities as nations prioritize energy security and aim to reduce import dependence. Heavy investment by national oil companies into deepwater projects drives the extensive installation of subsea infrastructure. This strategic focus on developing untapped marine reserves ensures a continuous requirement for these essential components, sustaining the region's market dominance.

Recent Developments

• In February 2025, Baker Hughes launched a new all-electric subsea production system designed to support the industry's transition toward more sustainable offshore operations. This innovative technology delivers a fully electric topside-to-downhole solution, capable of integrating with existing subsea tree designs or retrofitting electro-hydraulic systems. By eliminating the need for hydraulic control lines in umbilicals, the system significantly reduces the complexity and cost of subsea installations while enhancing operational reliability. The company stated that this product launch aims to lower carbon emissions and streamline field developments, offering a modular solution suitable for both shallow and deepwater applications.
• In December 2024, Subsea7 announced the award of a sizeable contract by Shell Offshore Inc. for the Silvertip development in the United States Gulf of Mexico. The project scope involves the engineering, procurement, construction, and installation of a production flowline and associated subsea infrastructure. Operations are scheduled to be executed in the deep waters of Alaminos Canyon, where water depths reach approximately 3,000 meters. This award highlights Subsea7’s technical expertise in challenging deepwater environments and reinforces its strategic collaboration with Shell, ensuring the delivery of robust subsea solutions for complex offshore energy developments.
• In July 2024, TechnipFMC secured a substantial contract from Petrobras to supply flexible pipe for pre-salt fields offshore Brazil. The award covers the design, engineering, and manufacture of flexible pipe specifically intended for water injection and gas lift applications. This contract utilizes TechnipFMC’s proprietary flexible pipe technology and standardized equipment platforms, which have been successfully deployed in previous developments such as the Buzios field. The company noted that this collaboration reinforces its long-standing relationship with the Brazilian state-controlled oil company and leverages its local manufacturing capabilities to support the continued expansion of the region’s significant pre-salt reserves.
• In May 2024, Saipem was awarded a major contract by TotalEnergies EP Angola Block 20 for the Kaminho project, located approximately 100 kilometers offshore Angola. This agreement, which is part of a broader USD 3.7 billion award, specifically encompasses the Engineering, Procurement, Supply, Construction, and Installation (EPSCI) of the Subsea Umbilicals, Risers, and Flowlines (SURF) package. The scope of work involves the deployment of approximately 30 kilometers of subsea flowlines, risers, and umbilicals, with key structures set to be fabricated at Saipem's local yard in Ambriz. This project highlights Saipem’s integrated capabilities in the deepwater sector and strengthens its presence in the West African market.

Key Market Players

• ABB Ltd.
• Aker Solutions ASA
• Baker Hughes Co.
• Bureau Veritas SA
• NOV Inc.
• Oceaneering International Inc.
• Parker Hannifin Corp.
• Saipem SPA
• Schlumberger Ltd.
• ArcelorMittal SA

By Product	By Type	By Region
Flowlines Umbilicals and Risers	Shallow Water Deep Water and Ultra Deep Water	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, By Product:

• Flowlines
• Umbilicals and Risers

• Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, By Type:

• Shallow Water
• Deep Water and Ultra Deep Water

• Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE