ASIA PACIFIC SURF MARKET ANALYSIS

Asia Pacific SURF Market, by Product Type (Subsea Umbilicals, Flowlines, and Risers), by Water Depth (Shallow Water, Deep Water, and Ultra-deep Water), and by Country (India, China, Malaysia, Indonesia, Vietnam, Thailand, Australia, and Rest of Asia Pacific) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Published In : Apr 2022
Code : CMI5007
Pages :60
Formats :
Excel and PDF
Industry : Energy

Asia Pacific Surf MarketSize and Trends

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