According to the research report titled ‘Europe Subsea Umbilicals, Risers and Flowlines Market Forecast 2027 By Water Depth, By Product, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe subsea umbilicals, risers and flowlines market is anticipated to generate lucrative returns by the year 2027.
 

As per reliable estimates, surging investments in the exploration of new crude oil reserves, ever-rising energy demand, and growing investments in deep & ultra-deep oil and gas production are pushing new product developments, partnerships, and innovations, which in turn is augmenting the growth of Europe subsea umbilicals, risers and flowlines market.

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Furthermore, advancements in oil & gas distribution throughout deep-sea activities, as well as strategic collaborations for oil and gas exploration are expected to bolster industry share during the forecast period.

In terms of product scope, the market is branched into flowlines, risers, and umbilicals. Based on water depth, the industry is divided into ultra-deep, deep, and shallow.

Regionally speaking, U.K. subsea umbilicals, risers, and flowline industry is slated to hold substantial revenue shares through 2027, on account of rising demand for capital-intensive exploration techniques in unconventional locations, as well as expanding oil & gas projects with government efforts to develop marginal fields across this region.

Whereas Russia market is poised to grow at a rapid rate during the forecast period, owing to increasing demand for flowlines in the offshore oil and gas sector, which is driven by the desire to reduce transportation costs for oil & gas, chemical, and water from wellheads to processing equipment.

Moving on, Norway industry size is also reckoned to grow in the coming years, on account of surging gas exports from the nation to other European nations, and numerous gas supply contracts as a result of increasing energy usage.

The key players in Europe subsea umbilicals, risers and flowlines market are McDermott International Ltd., Prysmian S.p.A., Tenaris S.A., Saipem S.p.A., Siemens AG, Aker Solutions ASA, Oceaneering International, Inc., Vallourec S.A., NOV, Inc., Halliburton Company, General Electric Company, TechnipFMC plc, and Schlumberger Limited.