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

Increasing government focus towards the development of marginal fields is expected to drive the Europe Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Europe Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market - By Country, Competition, Forecast and Opportunities, 2018-2028”, the Europe Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market is expected to register a robust during the forecast period, 2024-2028. In order to mitigate the risks associated with energy imports, Europe is strategically investing in the development of domestic energy resources, encompassing both conventional and renewable sources. This encompasses offshore oil and gas exploration and production endeavors in the North Sea, the Baltic Sea, and other offshore basins. SURF systems play a pivotal role in connecting these offshore resources to onshore processing facilities, ensuring a dependable and efficient energy supply, thereby driving market demand.

One of the most significant opportunities in the European SURF market lies in the integration of renewable energy sources, particularly offshore wind energy. As European countries expedite their transition to clean and sustainable energy, there is an increasing demand for subsea infrastructure to support offshore wind farms. This encompasses the installation of subsea power cables and umbilicals to connect wind turbines to onshore grids. Companies specializing in SURF systems can capitalize on this trend by providing tailored solutions that meet the unique requirements of offshore renewable energy projects.

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Based on product, Flowlines segment has emerged as the predominant market leader. The Flowlines segment of the Europe SURF market constitutes a significant portion of the overall market. The size of this segment is influenced by the number of active offshore oil and gas fields in the region, as well as the extent of new developments and retrofitting activities. Historically, Europe has been home to numerous offshore fields in the North Sea, the Norwegian Sea, and other offshore basins, contributing significantly to the size of the Flowlines segment. Material selection plays a critical role in Flowlines design, with considerations such as the corrosiveness of transported fluids, temperature, and pressure conditions. Stainless steel and corrosion-resistant alloys are commonly employed to ensure the durability and integrity of Flowlines. Flowlines are an essential component of the broader subsea infrastructure, which encompasses subsea trees, manifolds, and control systems. The integration of Flowlines with these components is vital for efficient and safe operation. Companies offering integrated subsea solutions, including Flowlines, hold a competitive advantage in the market. The Flowlines segment comprises different types of flowlines, including Production Flowlines that transport hydrocarbons (oil and gas) from subsea wells to processing facilities or production platforms. The selection between oil and gas flowlines depends on the reservoir characteristics and production process.

Based on type, Shallow Water segment is expected to grow during the forecast period. The Shallow Water segment of the Europe SURF market encompasses operations in offshore areas characterized by relatively shallow water depths. In European waters, these regions primarily include the North Sea, the Baltic Sea, the Mediterranean Sea, and the Barents Sea. Shallow water projects, compared to deepwater projects, are typically closer to shore and involve less complex subsea infrastructure. Throughout history, European shallow water regions have been home to numerous oil and gas fields, playing a significant role in the region's energy production. These fields benefit from cost-effective drilling and subsea infrastructure development due to the favorable water depths. The Shallow Water segment leverages exploration activities to discover new reserves in these regions and production efforts to maximize recovery from existing fields. Subsea infrastructure in shallow water environments is specifically designed to withstand moderate environmental conditions, including wave and current forces. Umbilicals, risers, and flowlines for shallow water projects are tailored to factors such as water depth, temperature, and pressure. It is important to note that shallow water regions often host diverse marine ecosystems and are considered ecologically sensitive areas. In Europe, strict environmental regulations and guidelines necessitate operators' adherence to stringent environmental standards to minimize the impact of offshore operations. This entails the use of environmentally friendly coatings and materials for SURF components to prevent corrosion and mitigate the risk of oil spills.

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

• TechnipFMC
• Aker Solutions
• Subsea 7
• Saipem
• Wood Group
• McDermott International
• Prysmian Group
• Nexans
• Oceaneering International
• DOF Subsea

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“Russia is expected to dominate the market during the forecast period. Russia's growing emphasis on environmental regulations and responsibilities in its energy sector is in line with global trends. Adherence to environmental standards, particularly in offshore operations, requires the utilization of advanced SURF systems that mitigate the risk of oil spills and safeguard marine ecosystems. SURF providers offering environmentally sustainable solutions can capitalize on opportunities within Russia's evolving regulatory framework.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

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

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