Press Release

Subsea Umbilicals, Risers, and Flowlines (SURF) Market in MEA to Grow at CAGR 13% till 2021

Increasing subsea activities taking place in offshore waters coupled with Angola and Nigeria emerging as favorite spots for offshore oil and gas exploration to drive demand for SURF equipment through 2021

According to TechSci Research report Middle East & Africa Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, By Component, By Application, Competition Forecast and Opportunities, 2011-2021, the market for oil & gas SURF is projected to exhibit a CAGR of over 13% during 2016-2021. Middle East & Africa is the second largest oil & gas SURF market globally, and this trend is anticipated to continue in the coming years. Growth in MEA oil & gas SURF market in the coming years can be attributed to rising subsea activities taking place in the region. Large offshore fields have also been discovered in some countries in Africa, which are still in their developing phase and are expected to largely contribute to oil and gas SURF market in the region during the forecast period. All these developments are anticipated to create huge demand for oil & gas subsea umbilicals, risers and flowlines in Middle East & Africa during the forecast period.

Browse 4 market data Tables and 12 Figures spread through 62 Pages and an in-depth TOC on "Middle East & Africa Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, 2011-2021"

https://www.techsciresearch.com/report/middle-east-africa-oil-gas-subsea-umbilicals-risers-and-flowlines-surf-market-by-component-shallow-water-deepwater-ultra-deepwater-by-application-deepwater-shallow-water-etc-competition-forecast-and-opportunities/1016.html

MEA oil & gas SURF market was dominated by flowline components over the past few years, and this component is anticipated to continue dominating the market through 2021. Major factor driving demand for flowline component is rising output from offshore fields. Moreover, offshore field development requires flowlines to be installed in order to bring oil or gas from seabed to surface processing plant. Hence, as offshore oil & gas exploitation increases, demand for flowlines across the MEA region is also expected to rise through 2021. Furthermore, Deepwater application garnered largest share in Middle East & Africa oil & gas SURF market in 2015 and this trend is anticipated to continue through 2021. Dominance of Deepwater application in Middle East & Africa oil & gas SURF market can be attributed to new offshore oil & gas discoveries in deepwater. Additionally, implementation of government policies and regulations supporting offshore explorations is projected to boost growth in Deepwater application in MEA oil & gas SURF market in the coming years.

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“Angola and Nigeria have become favorite spots for offshore oil and gas exploration, with major oil and gas companies eyeing stake in these acreages. As companies are increasing their investments in offshore exploration, demand for SURF equipment is expected to rise across the region during the forecast period”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Middle East & Africa Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, By Component, By Application, Competition Forecast and Opportunities, 2011-2021has evaluated Middle East & Africa oil & gas SURF market and provides statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges, and opportunities available in Middle East & Africa oil & gas SURF market.

 

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Relevant Reports

Middle East & Africa Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market By Component (Shallow Water, Deepwater, Ultra-Deepwater), By Application (Deepwater, Shallow Water, etc.), Competition Forecast and Opportunities, 2011-2021

Oil and Gas | May, 2017

Increasing subsea activities taking place in offshore waters coupled with Angola and Nigeria emerging as favorite spots for offshore oil & gas exploration to drive demand for SURF equipment through 2021

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