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Oil & Gas Subsea Umbilicals, Risers, and Flowlines: Market Overview

Offshore oil extraction activities have been increasing since the last few years. The major oil companies and its contractors have been banking on the low crude oil prices. Strategic oil storage is one of the major reasons to undertake offshore oil and gas projects despite the fluctuation in crude oil prices.

The reserves from onshore fields and shallow water wells are in almost depletion state. Hence, exploration and production companies are focusing on deeper water prospects. New platforms are being unceasingly installed in different parts of the world and operate in deeper waters (300m to 3,050 m). The safe and efficient interconnection from the topside of the platform /vessels to well heads and pumps on the seafloor is necessary to transfer products, power, and data. Hydraulic and other fluids are also transferred from one platform to another in same or different reservoir blocks to guarantee reliable oil extraction operations.

Oil & Gas Subsea Umbilicals, Risers, and Flowlines Market: Dynamics and Trends

Electric power is locally generated and distributed to various appliances, platforms, and onshore sites in order to lower the overall operational costs of oil and gas exploration and production projects. Broadband communication systems play an important role in modern communication and process control systems. Subsea risers, umbilicals, and flowlines form a vital link between multiple centers of operation within the field of exploration and production. These SURF can withstand high mechanical and chemical stresses, and high operating temperatures and pressures. They ensure continuous and reliable supply of services in harsh environments below the sea.

Subsea umbilicals are designed to suit static and dynamic applications in water depths of up to 2,500 meters. They are composed of a combination of hydraulic lines (thermoplastic hoses or steel alloy tubes), low-voltage electrical control cables, medium-voltage power transmission cores, and optical signal components.

Subsea line pipes (flowlines) can withstand extreme environments, and offer high tubing performance, enhanced weldability, and high resistance to corrosion. Thermoplastic composite pipes (TCP) or flexible pipes, risers, and spools commonly cope with challenging conditions such as extreme water depth, sour service, and high pressures. TCP-made jumpers, risers, flowlines, and spools have the capability to reduce the cost of transportation and installation of seam/seamless rigid metal pipes by more than half. TCP also has low weight, excellent fatigue performance, and sour service capability.

Oil & Gas Subsea Umbilicals, Risers, and Flowlines Market Segmentation

In terms of water depth, the oil & gas subsea umbilicals, risers, and flowlines market can be segmented into shallow, deep, and ultra-deep. Based on subsea connection, the market can be divided into manifold, subsea tee, pipe, pumps, and others. In terms of topside connection, the market can be segregated into jacket leg (fixed platform), FPSO, TLP, spar platform, onshore platform, and others. Based on region, the global oil & gas subsea umbilicals, risers, and flowlines market can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Oil & Gas Subsea Umbilicals, Risers, and Flowlines Market: Key Players

Key players operating in the global oil & gas subsea umbilicals, risers, and flowlines market include Airborne Oil and Gas, VALLOUREC, Schlumberger, Prysmian Group, and Baker & Hughes.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Oil Gas Subsea Umbilicals Risers Flowlines Market