ASIA PACIFIC SURF MARKET ANALYSIS
The Asia Pacific SURF market is expected to surpass US$ 19.47 billion by the end of 2028 and exhibit a CAGR of 12.5% during the forecast period (2021 to 2028).
Increasing investments by major players and augmenting oil and gas exploration and production activities in Asia Pacific are the current SURF market trends in the region. For instance, in 2018, India’s Oil and Natural Gas Corp. (ONGC), an Energy Company, awarded its largest single subsea contract to a consortium of McDermott International, Inc., Baker Hughes, a GE Company (BHGE), and L&T Hydrocarbon Engineering (LTHE), a subsidiary of Larsen & Toubro. These companies would provide ONGC with services and subsea equipment for its largest deep-water project. Moreover, ONGC contract calls for installing subsea umbilicals, risers, and flowlines (SURF) at water depths that is ranging from 984 feet to 10,500 feet.
Market Trends
Asia Pacific Surf Market Report Snapshots
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