South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market growth to Grow with a robust CAGR through to 2028
Offshore
exploration and production activities is expected to drive the South America Oil
& Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market growth in the
forecast period, 2024-2028.
According to
TechSci Research report, “South America Oil & Gas Subsea Umbilicals,
Risers and Flowlines (SURF) Market - By Country, Competition, Forecast and
Opportunities, 2018-2028”, the South America Oil & Gas Subsea
Umbilicals, Risers and Flowlines (SURF) Market is expected to register a robust
during the forecast period, 2024-2028. The demand for efficient subsea umbilical risers and flowlines
has increased in line with the expansion of commercial marine trade and
operations. The growth in offshore field development, facilitated by
technological advancements ensuring safe operations and effective
interconnections between top platforms and seabed-mounted wellheads, is a key
driver for the global subsea umbilical risers and flowline market's growth.
South America
boasts abundant offshore oil and gas reserves, particularly in countries such
as Brazil, Venezuela, Colombia, and Guyana. These nations are actively engaged
in the exploration and development of their offshore fields, particularly in
deepwater and ultra-deepwater regions. The demand for advanced SURF systems,
encompassing umbilicals, risers, and flowlines, is steadily increasing to
facilitate the extraction and transportation of hydrocarbons. This presents
significant opportunities for SURF equipment manufacturers and service
providers to meet the escalating demand.
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market data Figures spread through 135 Pages and an in-depth TOC on "South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market”
Based on product,
Flowlines segment has emerged as the predominant market leader. The
liberalization of energy markets in South America, coupled with increased
foreign investment, has fostered collaborations between international energy
companies and local players. These strategic partnerships contribute to the
transfer of technology and promote innovation in flowline systems, thereby
enhancing their efficiency and reliability. Meeting local content requirements
provides opportunities for domestic suppliers to actively participate in the
flowline supply chain, particularly in flexible pipe manufacturing and
assembly. Furthermore, the integration of digital technologies and IoT
solutions in flowline systems can significantly enhance real-time monitoring,
predictive maintenance, and overall operational efficiency. Companies
specializing in digital solutions can leverage this opportunity to establish a
strong foothold in the market. In conclusion, the flowlines segment of the
South America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF)
market plays a crucial role in the region's offshore oil and gas production. It
is influenced by various factors, including deepwater exploration,
technological complexity, environmental considerations, and opportunities for
renewable energy integration, innovation, local content participation, and
digitalization.
Based on type, Shallow
Water segment is expected to grow during the forecast period. Shallow water
SURF systems are specifically designed for utilization in relatively shallow
offshore environments, where the water depth is typically less than 200 meters.
These systems play a pivotal role in connecting subsea wells to production
facilities, platforms, or onshore processing units. The shallow water regions
in South America often harbor accessible oil and gas reserves. These areas are
generally more conducive to exploration and development compared to deepwater
and ultra-deepwater reserves, thus garnering significant interest from oil and
gas companies. There are ample opportunities for expanding existing
infrastructure in shallow water regions, encompassing the addition of new
wells, risers, and flowlines to prolong the service life of offshore platforms
and boost production. Shallow water SURF systems prove to be an optimal choice
for developing marginal fields that might have been previously overlooked. By
employing the appropriate SURF infrastructure, operators can cost-effectively
extract remaining reserves from these fields. In conclusion, the shallow water
segment of the South America Oil & Gas Subsea Umbilicals, Risers, and
Flowlines (SURF) market presents opportunities for economical oil and gas development,
expansion of existing infrastructure, and the exploitation of marginal fields.
Major companies
operating in South America Oil & Gas Subsea Umbilicals, Risers and
Flowlines (SURF) Market are:
- TechnipFMC
- Subsea
7
- Aker
Solutions
- National
Oilwell Varco
- Siemens
Energy
- Prysmian
Group
- Oceaneering
International
- Baker
Hughes
- DOF
Subsea
- Saipem
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“Brazil is
expected to dominate the market during the forecast period. Brazil is
actively venturing into offshore wind energy, thereby paving the way for
potential growth in the SURF market. The connection of offshore wind turbines
to onshore grids necessitates the deployment of subsea infrastructure. Adopting
digitalization and IoT technologies can enhance operational efficiency,
decrease maintenance expenses, and improve project economics.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“South America Oil & Gas Subsea
Umbilicals, Risers and Flowlines (SURF) Market By Product (Flowlines,
Umbilicals and Risers), By Type (Shallow Water, Deep Water and Ultra Deep
Water), By Country, By Competition Forecast & Opportunities, 2018-2028”,
has evaluated the future growth potential of South America Oil & Gas Subsea
Umbilicals, Risers and Flowlines (SURF) Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF)
Market.
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