Subsea Risers Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Production Risers, Drilling Risers), By Application (Shallow Water, Deepwater), By Region & Competition, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 12.57 Billion
CAGR (2026-2031)	10.68%
Fastest Growing Segment	Drilling Risers
Largest Market	North America
Market Size (2031)	USD 23.11 Billion

Market Overview

The Global Subsea Risers Market will grow from USD 12.57 Billion in 2025 to USD 23.11 Billion by 2031 at a 10.68% CAGR. Subsea risers are specialized conduit systems utilized to transport fluids, including hydrocarbons and injection water, from subsea wellheads to surface production facilities such as drilling platforms or floating vessels. The market is primarily propelled by the intensification of deepwater and ultra-deepwater exploration activities necessitated by depleting shallow-water reserves. Furthermore, rising global energy requirements are compelling operators to sanction new offshore projects, thereby increasing the demand for resilient riser systems capable of withstanding high hydrostatic pressures and dynamic marine loads.

However, market expansion faces significant challenges due to the exorbitant capital expenditure and technical complexities associated with installing and maintaining these systems in harsh oceanic environments. These high costs can deter investment during periods of economic volatility or supply chain constraints. According to the Organization of the Petroleum Exporting Countries, in 2024, global oil consumption was projected to reach approximately 103.8 million barrels per day, a statistic that highlights the enduring demand necessitating sustained investment in offshore production infrastructure.

Key Market Drivers

The surge in deepwater and ultra-deepwater exploration activities is acting as a primary catalyst for the Global Subsea Risers Market, fundamentally driven by the necessity to replace depleting onshore and shallow-water reserves. As major energy companies expand operations into deeper frontiers such as the pre-salt fields of Brazil and the Guyana-Suriname basin, the demand for high-specification risers capable of withstanding extreme hydrostatic pressures and dynamic marine loads has intensified. This trend is directly correlated with the robust supply growth from offshore regions. According to the International Energy Agency, August 2025, in the 'Oil Market Report - August 2025', non-OPEC+ producers were projected to lead global supply growth by adding 1.3 million barrels per day in 2025, a figure largely bolstered by rising offshore output from Brazil and Guyana.

Rising investments in subsea infrastructure and field development projects are further accelerating market momentum, as operators sanction capital-intensive campaigns to secure long-term production capabilities. This influx of capital is translating into record order books for equipment manufacturers, reflecting a sustained commitment to offshore development despite economic fluctuations. For instance, according to Subsea 7, November 2025, in the 'Q3 2025 Results', the company's backlog reached a record $13.9 billion, providing enhanced visibility for project execution through 2026. This financial commitment underscores the critical role of riser systems in connecting subsea wellheads to floating production units. According to Baird Maritime, in 2025, the ExxonMobil-led consortium in Guyana achieved an oil output of 631,000 barrels per day in the first quarter, highlighting the massive operational scale supported by these subsea technologies.

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Key Market Challenges

The exorbitant capital expenditure and technical complexities associated with deepwater operations present a formidable barrier to the growth of the Global Subsea Risers Market. Installing riser systems in harsh oceanic environments requires specialized, high-cost materials and advanced engineering to withstand extreme hydrostatic pressures and dynamic marine loads. These financial and technical burdens significantly raise the break-even price for offshore projects, making operators hesitant to commit to new developments during periods of fiscal uncertainty or supply chain instability.

Consequently, this financial strain directly restricts the pipeline of sanctionable projects, thereby limiting the immediate demand for new conduit systems required to transport hydrocarbons. According to the International Energy Agency, in 2024, global upstream oil and gas investment growth slowed to 7%, a measurable decline from the 9% growth observed in the previous year. This deceleration in capital allocation demonstrates how high costs and operational risks are deterring the aggressive expansion of offshore infrastructure, directly hampering the volume of new riser contracts awarded despite the broader energy demand.

Key Market Trends

The market is witnessing a decisive shift toward Integrated Engineering, Procurement, Construction, and Installation (iEPCI) contracting models to streamline deepwater developments. Operators are favoring this consolidated approach to accelerate time-to-first-oil by awarding comprehensive packages, including risers, to a single contractor, thereby mitigating interface risks. This consolidation was substantiated when, according to TechnipFMC, November 2024, in the 'TechnipFMC awarded iEPCI contract by TotalEnergies' press release, the company received an integrated award for the GranMorgu project offshore Suriname involving the supply of flexible risers. This trend underscores a preference for vendor-led solutions that reduce management overhead and enhance schedule certainty for complex frontier projects.

Simultaneously, there is an accelerated expansion of flexible riser solutions designed to withstand high concentrations of corrosive gases in ultra-deepwater environments. As production moves into reservoirs rich in carbon dioxide, manufacturers are engineering specialized pipes capable of resisting stress-induced corrosion cracking while maintaining structural integrity under extreme hydrostatic pressure. Validating this demand, according to Baker Hughes, October 2024, in the 'Baker Hughes Secures Contracts to Supply Petrobras with Flexible Pipe Systems' report, the firm finalized an agreement to deliver 77 kilometers of flexible risers and flowlines for Brazil’s pre-salt fields. This highlights the critical reliance on advanced materials to extend service life in aggressive marine conditions.

Segmental Insights

The Drilling Risers segment is identified as the fastest-growing category within the Global Subsea Risers Market due to a significant resurgence in offshore exploration activities. As operators prioritize deepwater and ultra-deepwater reserves to secure future energy supplies, the demand for reliable conduits during the initial well-construction phase has intensified. This expansion is primarily driven by increased investment in new field developments where drilling units require immediate riser deployment to establish well access. Consequently, the essential role of these components in early-stage exploration and appraisal campaigns fosters higher demand relative to production alternatives.

Regional Insights

North America stands as the leading region in the Global Subsea Risers Market, primarily driven by extensive deepwater and ultra-deepwater exploration activities in the Gulf of Mexico. The region benefits from substantial investments in offshore drilling infrastructure to meet rising energy demands, necessitating robust riser systems for efficient hydrocarbon transport. Additionally, the Bureau of Ocean Energy Management (BOEM) supports this expansion by overseeing offshore leasing and resource development, ensuring a stable pipeline of projects. This combination of rich offshore reserves and a regulated development framework secures North America's dominant market position.

Recent Developments

• In October 2024, Baker Hughes secured major contracts with Petrobras to provide 77 kilometers of flexible pipe systems for deployment in Brazil’s pre-salt fields. The multi-year project included the supply of risers and flowlines for hydrocarbon production as well as associated gas and water injection lines. The flexible pipe systems were specifically selected to address stress-induced corrosion cracking from high CO2 concentrations, a critical challenge in the region. The equipment was scheduled to be utilized across the Búzios, Libra, Berbigão, Sururu, and Sépia fields, with delivery commencing in mid-2026.
• In September 2024, TechnipFMC was awarded two significant subsea contracts by Petrobras for pre-salt fields offshore Brazil. The first award was a substantial contract valued between $250 million and $500 million to design, engineer, and manufacture riser flexible pipe, along with providing associated services such as packing and storage. The second contract involved the delivery of subsea production systems for the Atapu 2, Sepia 2, and Roncador projects. These awards reinforced the company’s leadership in flexible pipe technology and its long-standing commitment to the region's energy development.
• In May 2024, Subsea7 announced the award of a super-major contract by Petrobras for the development of the Búzios 9 field located in the pre-salt Santos Basin. The scope of the project included the engineering, procurement, fabrication, installation, and pre-commissioning of 102 kilometers of rigid risers and flowlines for a steel lazy wave production system. Project management and engineering activities were set to be executed from the company's offices in Rio de Janeiro and Paris, with pipeline fabrication planned at its spoolbase in Ubu, Brazil.
• In March 2024, NOV’s Subsea Production Systems business unit signed a contract to deliver its first actively heated flexible pipe system for a gas project in the Black Sea. This new product launch featured a proprietary technology capable of electrically heating the bore of the pipe through the resistance of the inner carcass layer. The innovation was designed to resolve flow assurance issues such as wax and hydrate formation in subsea operations, offering a more efficient and cost-effective alternative to traditional mitigation techniques while eliminating the need for complex fluid circulation systems.

Key Market Players

• TechnipFMC plc
• Aker Solutions ASA
• Saipem S.p.A.
• Subsea 7 S.A.
• McDermott International Ltd.
• Oceaneering International, Inc.
• Weatherford International plc
• Baker Hughes Company
• Halliburton Energy Services, Inc.
• Schlumberger Limited
• Prysmian S.p.A
• Expro Group Holdings N.V.

By Type	By Application	By Region
Production Risers Drilling Risers	Shallow Water Deepwater	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Subsea Risers Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Subsea Risers Market, By Type:

• Production Risers
• Drilling Risers

• Subsea Risers Market, By Application:

• Shallow Water
• Deepwater

• Subsea Risers 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