Asia Pacific SURF Market

SURF (subsea umbilicals, risers, and flowlines) offers a connection between the subsea production and surface systems. Umbilicals provide a vital link between the subsea production system, processing system, and surface and have no contact with the produced fluids. Flowline transports the unprocessed fluid from the subsea well to the riser, which is then transported from the riser to the surface processing system. Market Dynamics High oil prices have enabled investment in deep-water development and technology and marginal projects. However, exploration and development will now be affected due to the collapse in oil price, as operators aim to ensure that low costs and high margins are established in projects before approving them. Key factors influencing the growth of the Asia Pacific SURF (subsea umbilicals, risers, and flowline) market include high investment by key players in the oil and gas production and exploration. Key players continues to see momentum on projects to develop gas for domestic consumption, and it expects India to launch the next wave of large development projects, including Blocks 98/2 and KG-D6 by ONGC and Reliance, respectively. Moreover, key players are focusing on various strategies such as collaborations coupled with product portfolio expansion. For instance, in December 2018, Saipem, an Italian multinational oilfield services company, and Petrobel, a subsidiary company of the Egyptian General Petroleum Corporation, negotiated an offshore contract addendum for Engineering, Procurement, Construction and Installation (EPCI) activities in relation to the ‘Ramp Up to Plateau’ phase of the Zohr Field Development project situated in the Mediterranean Sea off the Egyptian coast. Key features of the study • This report provides an in-depth analysis of the Asia Pacific SURF market, market size (US$ Billion), and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players • It profiles key players in the Asia Pacific SURF market based on the following parameters – company overview, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans • Key companies covered as a part of this study include Aker Solutions ASA, TechnipFMC plc, Prysmian Group, Vallourec S.A., JDR Cable Systems (Holdings) Ltd., Oceaneering International, Inc., Subsea 7 S.A., Nexans Norway AS, Saipem S.p.A., McDermott International, Inc., DeepOcean Group Holding BV, Ocean Installer AS, Actuant Corporation, and Airborne Oil & Gas B.V. • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics • The Asia Pacific SURF market report caters to various stakeholders in this industry including investors, suppliers, SURF manufacturers, distributors, new entrants, and financial analysts • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Asia Pacific SURF market Market Segmentation • By Product Type o Subsea Umbilicals o Flowlines o Risers • By Water Depth o Shallow Water o Deep Water o Ultra-deep Water • By Region o Asia Pacific  India  China  Malaysia  Indonesia  Vietnam  Thailand  Australia  Rest of Asia Pacific • Key Players o Aker Solutions ASA o TechnipFMC plc o Prysmian Group o Vallourec S.A. o JDR Cable Systems (Holdings) Ltd. o Oceaneering International, Inc. o Subsea 7 S.A. o Nexans Norway AS o Saipem S.p.A. o McDermott International, Inc. o DeepOcean Group Holding BV o Ocean Installer AS o Actuant Corporation o Airborne Oil & Gas B.V.