Published Date: 2021-08-10
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North American SURF (Subsea Umbilicals, Risers and Flowlines) Market size is anticipated to witness a lucrative growth between 2021 and 2027, according to a latest forecast report by Graphical Research.
North America Industry growth is owing to increasing investments in offshore E&P activities along with an inclination toward digital techniques and solutions. SURF provides an important link between surface facilities and subsea production operations, augmenting the production rates and making its adoption preferable. In addition, enhanced installation of floating platforms coupled with the rising demand for energy will propel the business outlook.
Ongoing discoveries in deep and ultra-deep offshore regions along with rising demand for energy in major countries will drive the SURF market outlook. Moreover, a majority of onshore producing wells have reached maturity, leading to significant drop in production rates which further results in shifting focus toward the development of offshore fields, boosting product demand.
Deep and ultra-deep SURF systems prevent flow assurance challenges and provide dynamic cable installation to enable power from the shore, preventing offshore operation limits. In addition, deep and ultra-deep-water installations adopt cost-effective methods to install subsea umbilicals, risers & flowlines equipment without the requirement for expensive heavy crane vessels, fostering the industry spectrum.
Browse detailed statistical insights from the report, “North America Subsea Umbilicals, Risers and Flowlines (SURF) Market Forecast 2027 By Product (Umbilicals, Risers, Flowlines), By Water Depth (Shallow, Deep, Ultra-deep), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Growing investments in R&D for technological advancements along with a focus toward discovering & exploiting offshore hydrocarbon fields have strengthened the North America industry. For instance, a recent development in the Virtual Reality (VR) technology for fast visualizing techniques combined with a variety of datasets formed an important tool in the execution & planning of offshore SURF installation, fostering the product outlook.
The riser market size is anticipated to grow owing to shallow and deep offshore E&P activities coupled with increasing deployment of Floating Production Systems (FPSOs) across the offshore region. Abilities such as cost efficiency and reliability along with deployment flexibility will stimulate product adoption. Furthermore, government policies to maintain the Health, Safety and Environment (HSE) norms during offshore operations will further complement the industry dynamics.
Rising demand for SURF installation coupled with wellhead control systems will drive the industry growth. Due to the ongoing pandemic scenario, hydrocarbon E&P and drilling activities along with the sale of subsea control systems have been significantly affected.
The North American SURF (Subsea Umbilicals, Risers and Flowlines) market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
North America Market, By Water Depth
North America Market, By Product
The above information has been provided for the following countries:
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