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Production of oil & gas from the known, old, and mature fields has started declining. As a result, companies are now seeking newer fields. These fields are located in deeper waters as compared to the mature fields. They are situated in the less explored locations of the world such as Latin America, West Africa, and the North Sea. SURF is primarily employed in these deep offshore fields. SURF helps connect the surface systems and subsea production. In line with this objective, SURF can be divided into two parts: umbilicals, and risers and flowlines.

Umbilical is the connective medium between the surface equipment and subsea equipment. The Umbilical Termination Structure (UTS) facilitates transportation of services such as electric power, chemicals, telecommunications, and instructions to various subsea equipment. These services reach the various subsea equipment through flying leads, which are basically common extension cords. Umbilicals are designed for static as well as dynamic applications; demand for the latter has been rising due to the increase in depth of fields. The raw material or composition of the cable also changes as per project requirement. Cables are available in the form of hoses, steel tubes, power and optical umbilicals, and composite umbilicals. Demand for steel tubes is rising due to their enhanced response times and ability to handle higher pressures.

Flowlines are used to transport unprocessed fluids from the subsea well to the riser pipeline. They are sometimes considered part of a larger pipeline network consisting of flowlines, riser, extension cords, and other pipes. However, flowlines retain distinctive characteristics primarily owing to their function of being the import line or production line for unprocessed fluids. Risers are used to connect flowlines back to the surface facility. These set of pipelines are available in various diameters, ranging from under one inch to more than 10 inches. This partly depends upon the depth of the offshore fields and the consequent pressure the pipes are subjected to.

Another important categorization for the SURF market is the depth of the offshore field. This includes shallow water, deep water, and ultra-deep water, depending upon the location of the offshore field. Demand for deep water and ultra-deep water SURF has been increasing due to the depletion of mature fields. Development of complex oil & gas processing equipment such as Floating Production Storage and Offloading (FPSO) units and Floating Production Units (FPU) has also enabled the development of deep water fields. This has been boosting the deep water and ultra-deep water segment.

Consistent increase in demand for oil & gas across the world is expected to continue driving the demand for SURF. However, demand for gas is likely to rise faster as compared to that for oil in the near future. On the other hand, demand for various other chemicals is anticipated to stay constant in the next few years. The SURF market is estimated to largely follow the trend of demand for oil & gas across the globe. Demand for oil & gas is largely dependent upon the economic growth of countries; thus, the market for SURF is also directly affected by this dynamic.

In terms of region, market share of several new areas such as South America, the Gulf of Mexico, and Africa is projected to rise in the near future. Prominent companies operating in the SURF market include TechnipFMC, Aker Solutions, Saipem SpA, Subsea 7, and ABB.

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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Subsea Umbilicals Risers Flowlines Market

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