Product Code: 3764
The global umbilical market is set to register a commendable growth rate over the estimated timeline. This growth is characterized by the rising preference for the integration of state-of-the-art remote solutions to mitigate accidents and conduct subsea procedures with no human intervention.
Umbilical cables are used in a variety of applications including aerospace, military, robotics, and diving. These cables connect a floating oil rig, a ship, subsea flow station and are designed to withstand seawater.
One of the crucial factors influencing umbilicals design is is the composition of the materials flowing through the pipe. For instance, steel tube umbilicals can be used for delivering hydraulic fluid for fracking as well as carrying the natural gas to the holding tank.
The intended application is also a deciding factor for cable design. Some applications require these cables to have trunks that diversify from the primary line to secondary lines. Such a broad applicability range may stimulate umbilical market demand.
Umbilicals demonstrate numerous benefits during oil and gas exploration. Subsea umbilicals networks are generally connected to multiple drilling sites, which in turn, are connected to a ship that intakes and holds the crude oil pumped by the drilling stations. The floating oil rig, meanwhile, provides consumables and power to the smaller underwater drilling sites. Thus, umbilicals are crucial for optimizing the outcome of oil and gas production systems.
Contenders in the umbilical market are focusing on technological advancements to expand their product portfolio. For instance, in May 2022, MacDermid Offshore Solutions unveiled a new Oceanic EL 08 organic and biodegradable lubricant developed specifically to test, fill, and store umbilicals. The eco-friendly solution was designed to provide improved protection and lower viscosity. This, in turn, delivers an effective option for corrosion inhibitors and flammable solvents that are currently utilized across umbilical systems.
The umbilical market is bifurcated in terms of depth and region.
In terms of depth, the umbilical market is divided into ultra-deep, deep, and shallow. The ultra-deep segment is projected to grow at an appreciable rate over the forecast spell. This growth can be accredited to the increased deployment of FPSO (Floating Production Storage and Offloading) vessels in ultra-deep waters to optimize generation from complex reservoirs.
Geographically, the industry is fragmented into North America, Europe, Asia Pacific, and Middle East & Africa. The Middle East & Africa umbilical market is expected to depict a 19% growth rate through 2028.
Growing prevalence of unexplored capability, huge presence or proven oil & gas reserves, availability of less complicated formations, expansive hydrocarbon exports, and rising investments in offshore fields are some factors contributing to regional business growth.
According to the 2022 BP Statistical Review of World Energy, the overall oil exports from the MEA region including Saudi Arabia reached more than 21.7 Mbpd (million barrels per day). This represents more than 32.5% of the total oil export activity in 2021.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Methodology
- 1.2 Market definitions
- 1.3 Market estimates & forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Umbilical industry 360 degree synopsis, 2018 - 2028
- 2.1.1 Business trends
- 2.1.2 Depth trends
- 2.1.3 Regional trends
Chapter 3 Umbilical Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Innovation & technology landscape
- 3.2.1 Aker Solutions
- 3.2.2 Nexans
- 3.2.3 Other Innovations
- 3.2.3.1 Balmoral Group
- 3.2.3.2 Rotech Subsea
- 3.2.3.3 C-Kore Systems
- 3.2.3.4 RED Engineering
- 3.2.3.5 Optime Subsea
- 3.2.3.6 MacDermid Offshore Solutions
- 3.3 Regulatory landscape
- 3.3.1 Design and operation of subsea production systems (Subsea Umbilical)
- 3.3.1.1 API Spec 17E (Specification for Subsea Umbilicals)
- 3.3.1.2 API RP 17I (Specification for Subsea Umbilical Installation)
- 3.3.2 Brazil
- 3.3.3 U.S.
- 3.3.3.1 Offshore Pipeline Safety Act
- 3.3.3.2 Alteration or disconnection of subsea pipeline or umbilical
- 3.3.3.3 U.S. Gulf of Mexico (U.S. GOM)
- 3.3.4 UK
- 3.3.4.1 Set of acts and regulations for onshore and offshore oil & gas operations and exploration activities across the UK
- 3.3.5 Norway
- 3.3.5.1 Subsea structures and piping system requirements
- 3.3.5.2 Subsea production control umbilical
- 3.3.5.2.1 Cable/Umbilical
- 3.3.5.2.2 Technical Requirements
- 3.3.5.2.2.1 General
- 3.3.5.2.2.2 Functional Requirements
- 3.3.5.2.2.3 Installation
- 3.3.5.2.2.4 Material Requirements
- 3.3.5.2.2.5 Marking
- 3.3.5.2.2.6 Fabrication Requirements
- 3.3.5.2.2.7 Documents Requirements
- 3.3.6 India
- 3.3.7 World Bank (WB)/International Finance Corporation (IFC) Guidelines
- 3.4 COVID- 19 impact on the industry outlook
- 3.4.1 Top 10 countries impacted by COVID- 19
- 3.5 Industry impact forces
- 3.5.1 Growth drivers
- 3.5.1.1 Increasing investments across offshore oil & gas reserves
- 3.5.1.2 Growing demand for hydrocarbons coupled with rapidly rising energy consumption
- 3.5.1.3 Shifting trends towards integration of advanced remote operations across offshore infrastructure
- 3.5.2 Industry pitfalls & challenges
- 3.5.2.1 High cost associated with offshore drilling
- 3.6 Growth potential analysis
- 3.7 Porter's Analysis
- 3.7.1 Bargaining power of suppliers
- 3.7.2 Bargaining power of buyers
- 3.7.3 Threat of new entrants
- 3.7.4 Threat of substitutes
- 3.8 Competitive landscape, 2021
- 3.8.1 Strategy dashboard
- 3.8.1.1 VALLOUREC
- 3.8.1.2 Oceaneering International, Inc.
- 3.8.1.3 Aker Solutions
- 3.8.1.4 John Wood Group PLC
- 3.8.1.4.1 Investment Award
- 3.8.1.5 Saipem
- 3.8.1.5.1 Memorandum of Understanding
- 3.8.1.5.2 Collaboration
- 3.8.1.6 McDermott
- 3.8.1.7 Schlumberger
- 3.8.1.8 NOV Inc.
- 3.8.1.9 Prysmian Group
- 3.8.1.10 SUBSEA 7
- 3.8.1.10.1 Collaboration
- 3.8.1.10.2 Contract
- 3.8.1.11 HALLIBURTON
- 3.8.1.11.1 Collaboration
- 3.8.1.11.2 Alliances
- 3.8.1.12 Baker Hughes Company
- 3.8.1.13 TechnipFMC Plc.
- 3.8.1.14 Nexans
- 3.8.1.15 Others
- 3.9 PESTEL Analysis
Chapter 4 Umbilical Market, By Depth
- 4.1 Umbilical market share by depth, 2021 & 2028
- 4.2 Shallow
- 4.2.1 Global market from shallow, 2018 - 2028
- 4.2.2 Global market from shallow, by region, 2018 - 2028
- 4.3 Deep
- 4.3.1 Global market from deep, 2018 - 2028
- 4.3.2 Global market from deep, by region, 2018 - 2028
- 4.4 Ultra-deep
- 4.4.1 Global market from ultra-deep, 2018 - 2028
- 4.4.2 Global market from ultra-deep, by region, 2018 - 2028
Chapter 5 Umbilical Market, By Region
- 5.1 Umbilical market share by region, 2021 & 2028
- 5.2 North America
- 5.2.1 North America market, 2018 - 2028
- 5.2.2 North America market by depth, 2018 - 2028
- 5.2.3 U.S.
- 5.2.3.1 U.S. market, 2018 - 2028
- 5.2.3.2 U.S. market by depth, 2018 - 2028
- 5.2.4 Canada
- 5.2.4.1 Canada market, 2018 - 2028
- 5.2.4.2 Canada market by depth, 2018 - 2028
- 5.2.5 Mexico
- 5.2.5.1 Mexico market, 2018 - 2028
- 5.2.5.2 Mexico market by depth, 2018 - 2028
- 5.3 Europe
- 5.3.1 Europe market, 2018 - 2028
- 5.3.2 Europe market by depth, 2018 - 2028
- 5.3.3 UK
- 5.3.3.1 UK market, 2018 - 2028
- 5.3.3.2 UK market by depth, 2018 - 2028
- 5.3.4 Norway
- 5.3.4.1 Norway market, 2018 - 2028
- 5.3.4.2 Norway market by depth, 2018 - 2028
- 5.3.5 Netherlands
- 5.3.5.1 Netherlands market, 2018 - 2028
- 5.3.5.2 Netherlands market by depth, 2018 - 2028
- 5.3.6 Romania
- 5.3.6.1 Romania market, 2018 - 2028
- 5.3.6.2 Romania market by depth, 2018 - 2028
- 5.4 Asia Pacific
- 5.4.1 Asia Pacific market, 2018 - 2028
- 5.4.2 Asia Pacific market by depth, 2018 - 2028
- 5.4.3 China
- 5.4.3.1 China market, 2018 - 2028
- 5.4.3.2 China market by depth, 2018 - 2028
- 5.4.4 India
- 5.4.4.1 India market, 2018 - 2028
- 5.4.4.2 India market by depth, 2018 - 2028
- 5.4.5 Indonesia
- 5.4.5.1 Indonesia market, 2018 - 2028
- 5.4.5.2 Indonesia market by depth, 2018 - 2028
- 5.4.6 Malaysia
- 5.4.6.1 Malaysia market, 2018 - 2028
- 5.4.6.2 Malaysia market by depth, 2018 - 2028
- 5.4.7 Thailand
- 5.4.7.1 Thailand market, 2018 - 2028
- 5.4.7.2 Thailand market by depth, 2018 - 2028
- 5.4.8 Australia
- 5.4.8.1 Australia market, 2018 - 2028
- 5.4.8.2 Australia market by depth, 2018 - 2028
- 5.4.9 Vietnam
- 5.4.9.1 Vietnam market, 2018 - 2028
- 5.4.9.2 Vietnam market by depth, 2018 - 2028
- 5.5 Middle East & Africa
- 5.5.1 Middle East & Africa market, 2018 - 2028
- 5.5.2 Middle East & Africa market by depth, 2018 - 2028
- 5.5.3 Angola
- 5.5.3.1 Angola market, 2018 - 2028
- 5.5.3.2 Angola market by depth, 2018 - 2028
- 5.5.4 Egypt
- 5.5.4.1 Egypt market, 2018 - 2028
- 5.5.4.2 Egypt market by depth, 2018 - 2028
- 5.5.5 Qatar
- 5.5.5.1 Qatar market, 2018 - 2028
- 5.5.5.2 Qatar market by depth, 2018 - 2028
- 5.5.6 Saudi Arabia
- 5.5.6.1 Saudi Arabia market, 2018 - 2028
- 5.5.6.2 Saudi Arabia market by depth, 2018 - 2028
- 5.5.7 UAE
- 5.5.7.1 UAE market, 2018 - 2028
- 5.5.7.2 UAE market by depth, 2018 - 2028
- 5.6 Latin America
- 5.6.1 Latin America market, 2018 - 2028
- 5.6.2 Latin America market by depth, 2018 - 2028
- 5.6.3 Brazil
- 5.6.3.1 Brazil market, 2018 - 2028
- 5.6.3.2 Brazil market by depth, 2018 - 2028
- 5.6.4 Trinidad & Tobago
- 5.6.4.1 Trinidad & Tobago market, 2018 - 2028
- 5.6.4.2 Trinidad & Tobago market by depth, 2018 - 2028
Chapter 6 Company Profiles
- 6.1 TechnipFMC plc.
- 6.1.1 Business Overview
- 6.1.2 Financial Data
- 6.1.3 Product Landscape
- 6.1.4 Strategic Outlook
- 6.1.5 SWOT Analysis
- 6.2 Vallourec
- 6.2.1 Business Overview
- 6.2.2 Financial Data
- 6.2.3 Product Landscape
- 6.2.4 Strategic Outlook
- 6.2.5 SWOT Analysis
- 6.3 Oceaneering International, Inc.
- 6.3.1 Business Overview
- 6.3.2 Financial Data
- 6.3.3 Product Landscape
- 6.3.4 Strategic Outlook
- 6.3.5 SWOT Analysis
- 6.4 Aker Solutions
- 6.4.1 Business Overview
- 6.4.2 Financial Data
- 6.4.3 Product Landscape
- 6.4.4 Strategic Outlook
- 6.4.5 SWOT Analysis
- 6.5 John Wood Group, Plc
- 6.5.1 Business Overview
- 6.5.2 Financial Data
- 6.5.3 Product Landscape
- 6.5.4 Strategic Outlook
- 6.5.5 SWOT Analysis
- 6.6 Saipem
- 6.6.1 Business Overview
- 6.6.2 Financial Data
- 6.6.3 Product Landscape
- 6.6.4 Strategic Outlook
- 6.6.5 SWOT Analysis
- 6.7 McDermott
- 6.7.1 Business Overview
- 6.7.2 Financial Data
- 6.7.3 Product Landscape
- 6.7.4 Strategic Outlook
- 6.7.5 SWOT analysis
- 6.8 Schlumberger Limited
- 6.8.1 Business Overview
- 6.8.2 Financial Data
- 6.8.3 Product Landscape
- 6.8.4 Strategic Outlook
- 6.8.5 SWOT Analysis
- 6.9 NOV, Inc.
- 6.9.1 Business Overview
- 6.9.2 Financial Data
- 6.9.3 Product Landscape
- 6.9.4 Strategic Outlook
- 6.9.5 SWOT Analysis
- 6.10 Prysmian Group
- 6.10.1 Business Overview
- 6.10.2 Financial Data
- 6.10.3 Product Landscape
- 6.10.4 Strategic Outlook
- 6.10.5 SWOT Analysis
- 6.11 Subsea 7
- 6.11.1 Business Overview
- 6.11.2 Financial Data
- 6.11.3 Product Landscape
- 6.11.4 Strategic Outlook
- 6.11.5 SWOT Analysis
- 6.12 HALLIBURTON
- 6.12.1 Business Overview
- 6.12.2 Financial Data
- 6.12.3 Product Landscape
- 6.12.4 Strategic Outlook
- 6.12.5 SWOT analysis
- 6.13 Baker Hughes Company
- 6.13.1 Business Overview
- 6.13.2 Financial Data
- 6.13.3 Product Landscape
- 6.13.4 Strategic Outlook
- 6.13.5 SWOT Analysis
- 6.14 Nexans
- 6.14.1 Business overview
- 6.14.2 Financial data
- 6.14.3 Product landscape
- 6.14.4 Strategic outlook
- 6.14.5 SWOT analysis