Subsea Umbilicals, Risers, and Flowlines (SURF) Demand Growing in North America
Surging
energy demand coupled with maturing onshore fields to drive North America oil
& gas subsea umbilicals, risers, and flowlines (SURF) market through 2021
According to TechSci Research report “North America 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 grow at a CAGR of over 12% during 2016-2021, on
account of increasing production from offshore fields in US Federal Gulf of
Mexico. In 2015, eight fields in Gulf of Mexico started producing with four
more to start production this year. All these developments are anticipated to
create huge demand for oil & gas subsea umbilicals, risers and flowlines in
North America during the forecast period.
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(SURF) Market, 2011-2021"
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Flowline components garnered highest share in North America oil &
gas SURF market over the past few years, owing to rising demand for flowline
components across the region. Moreover, growth in this segment can also be
attributed to rising output from offshore fields. As the era of easy oil is
over, companies are exploring offshore in deep and ultradeep waters.
Furthermore, Deepwater application dominated North America oil & gas SURF
market stood in 2015 and the application is anticipated to continue dominating
the market in the coming years as well. Increasing number of new offshore oil
& gas discoveries in deepwater and growing implementation of government
policies and regulations supporting offshore explorations is projected to
trigger growth in this segment during the forecast period.
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“Availability of advanced SURF
equipment is making deep and ultra-deepwater exploration and production activities
technologically viable and financially feasible. As subsea technology matures,
demand for SURF equipment is expected to increase, owing to rising production
from offshore producing fields and exploration of new fields. This is
anticipated to further fuel growth in North America oil & gas SURF market
through 2021.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“North America
Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, By
Component, By Application, Competition Forecast and Opportunities, 2011-2021” has evaluated North America 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 North America oil & gas
SURF market.
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