Asia Pacific Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market growth to Grow with a robust CAGR through to 2028

Increasing energy demand and the exploration of deeper offshore reserves is expected to drive the Asia Pacific Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Asia Pacific Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market - By Country, Competition, Forecast and Opportunities, 2018-2028”, the Asia Pacific Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market is expected to register a robust during the forecast period, 2024-2028. The Asia-Pacific region has witnessed a growing focus on natural gas production due to its lower environmental impact compared to other hydrocarbons. This transition towards natural gas exploration and production often entails the utilization of specialized SURF systems for the transportation of gas from offshore fields to onshore facilities, thereby driving market growth.

The Asia-Pacific region is experiencing a notable increase in offshore exploration and production (E&P) activities. This surge is primarily driven by the depletion of onshore reserves and the necessity to access deeper and more remote offshore fields. As a result, there is a significant opportunity for SURF equipment and service providers to offer advanced subsea infrastructure support for these projects.

The adoption of digitalization and automation in SURF operations is an emerging trend in the region. Companies that offer advanced digital monitoring, control, and maintenance solutions have the opportunity to provide value-added services, enhancing operational efficiency and minimizing downtime.

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Based on product, Flowlines segment has emerged as the predominant market leader. Flowlines are an essential component of subsea SURF systems, responsible for the transportation of hydrocarbons from subsea wells to processing facilities or platforms. The increasing offshore exploration and production activities in the Asia-Pacific region, particularly in deepwater and ultra-deepwater areas, are driving the demand for flowlines. Energy companies are leveraging these offshore reserves to meet the growing energy needs. Composite materials are gaining traction in the flowlines sector due to their corrosion resistance and durability. Composite flowlines offer the advantage of weight reduction and are well-suited for deepwater applications. Insulated flowlines help maintain the temperature of transported fluids, mitigating the risk of hydrate formation and ensuring efficient flow. They are increasingly being adopted in cold-water regions. The integration of advanced leak detection systems into flowlines enhances safety and environmental protection. Real-time monitoring of flowlines for potential leaks is a growing practice. The trend of exploring and developing deepwater and ultra-deepwater reserves presents significant growth opportunities for flowline providers, especially those offering advanced materials and corrosion-resistant solutions. The expansion of subsea tieback projects also provides opportunities for flowline manufacturers, as these projects often require the installation of new flowlines to connect remote wells to existing infrastructure.

Based on type, Shallow Water segment is expected to grow during the forecast period. The increasing energy demand in the Asia-Pacific region, driven by population growth and economic development, necessitates the development of shallow water offshore fields to meet this demand. The adoption of digitalization and data analytics tools is enhancing the monitoring and control of subsea equipment, resulting in improved efficiency and reduced downtime. Several countries in the Asia-Pacific region have local content requirements, encouraging collaboration with local suppliers and manufacturers. Companies offering environmentally friendly solutions, such as leak detection systems and emissions reduction technologies, can address the region's growing emphasis on sustainability. Collaborating with local partners and suppliers can help fulfill local content requirements and gain a competitive advantage in regional projects.

Major companies operating in Asia Pacific Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market are:

• TechnipFMC
• Aker Solutions
• Subsea 7
• Saipem S.p.A.
• Wood Group
• McDermott International
• Petrofac Limited
• Baker Hughes Company
• Oceaneering International
• DOF Subsea

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“China is expected to dominate the market during the forecast period. China's investments in offshore infrastructure, including deepwater ports and offshore terminals, are fueling the demand for SURF systems. These infrastructure developments facilitate the transportation of hydrocarbons from offshore fields to onshore processing facilities, necessitating the installation of sophisticated SURF equipment.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Asia Pacific 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 Asia Pacific 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 Asia Pacific Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market.

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