Global Subsea Umbilicals Market Overview:
The increasing ongoing investments to explore the untapped hydrocarbons reserves will help to boost global Subsea Umbilicals market in the forecasted period. A subsea umbilical is a bundle of cables and conduits that transfer hydraulic, and electric power within the field (long distances), or from topsides to subsea. Subsea umbilical systems provide the vital supply and control link from platforms or topside vessels to subsea oil and gas equipment. Typical water depth for an umbilical is about 2km, but future applications are ever-increasing and 3km will soon be exceeded. The length of an umbilical is dependent upon its function and field layout, some have been manufactured in a continuous length as long as 200km. They also carry chemicals for subsea injection, and gas for artificial lift. Optimized subsea architecture, improved performance, and cost-effectiveness are some of the key features positively influencing the product demand over the coming years. Growing investments toward exploitation of offshore reserves along with rising concern to effectively utilize the marginal fields will positively influence the deep-water Subsea Umbilicals market size.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
High Growth Market | Asia Pacific |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Growth Drivers
- The Increasing crude oil and natural gas discoveries at deep-sea
- Wide Availability of Untapped Unconventional as well as Conventional Resources
Roadblocks
- Requirement of The Superior Mesh Refinement
Opportunities
- The Emergence of IoT in Drilling Technologies along with Increasing Number of Easy to Access Oilfields
- Rapid Expansion of Deep-Water Projects along with Shifting Focus toward Offshore Exploration
Competitive Landscape:
Leading key players are focusing on strategic partnerships to improve their products and services. Companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Some of the key players profiled in the report are Aker Solutions (Norway), Technip (United Kingdom), FMC Technologies (United Kingdom), Prysmian Group (Italy), Vallourec (France), General Electric (United States), Siemens (Germany), Nexans (France), Oceaneering International (United States), Actuant Corporation (United States) and Subsea 7 (United Kingdom). Additionally, following companies can also be profiled that are part of our coverage like DeepOcean Group Holding BV (Netherlands), Schlumberger (United States), Halliburton (United States) and Tenaris (Luxembourg). Analyst at AMA Research see European Players to retain maximum share of Global Subsea Umbilicals market by 2027. Considering Market by Material, the sub-segment i.e. Super Duplex Stainless Steel (SDSS) will boost the Subsea Umbilicals market.
Latest Market Insights:
On 21st August 2019, Aker Solutions has announced to Deliver Umbilicals for the Dalma Gas Development Project in the United Arab Emirates (UAE)
What Can be Explored with the Subsea Umbilicals Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Subsea Umbilicals Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Subsea Umbilicals
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Subsea Umbilicals market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Subsea Umbilicals market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Subsea Umbilicals Manufactures, Subsea Umbilicals Suppliers, Subsea Umbilicals DIstributors, Government Regulatory Bodies, Private Research Organizations, Government Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.