According to the research report titled ‘North America Subsea Umbilicals, Risers and Flowlines Market Forecast 2027 By Product, By Water Depth, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America subsea umbilicals, risers and flowlines market is expected to witness exponential growth through 2027.

Rising exploration and production activities, increasing investments in digital technology, the growing installation of floating platforms, and growing penetration of mature oil fields in deep & ultra-deep waters are some of the key factors driving the growth of North America subsea umbilicals, risers and flowlines market.

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End-users in this business space are expected to invest heavily in deep and ultra-deep systems to offset offshore operating limits, boost cable installation, and seek cost-effective methods to streamline deep and ultradeep water installations.

Moreover, surging deep offshore & shallow E&P activities, and favorable government policies to maintain health, safety, and environment during offshore operations are facilitating the business scenario in North America.

During the COVID-19 outbreak, hydrocarbon E&P and drilling activities were hampered along with subsea control systems. This has compelled the leading companies to emphasize on the expansion of subsea project activities as well as the demand for gas and oil across the U.S. and Mexico, thus stimulating the regional market dynamics.

Based on water depth, the market is fragmented in terms of shallow, deep, and ultra-deep segments. Moving on to the product landscape, the market is divided into umbilicals, risers, and flowlines.

The geographical scope of North America subsea umbilicals, risers and flowlines market extends to U.S., Canada, and Mexico.

Subsea 7 S.A., McDermott International Ltd., Prysmian S.p.A., John Wood Group plc, Saipem S.p.A., Siemens AG, Tenaris S.A., Aker Solutions ASA, Oceaneering International Inc., Vallourec S.A., NOV Inc. (National Oilwell Varco), Halliburton Company, General Electric Company, TechnipFMC plc, and   Schlumberger Limited are the leading players influencing the North America subsea umbilicals, risers and flowlines industry outlook.