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(Wireless-NewsWire.Com, September 29, 2018 ) According to Verified Market Intelligence, the Global Surf (Subsea Umbilicals, Risers and Flowlines) Market is projected to reach 14.49 billion by 2025 from an estimated value of 5.708 billion in 2017, growing at a CAGR of 12.4% from 2018 to 2025.
A subsea production system is responsible for the production of hydrocarbons from areas which are not economically developed or easily available for products such as deep waters using various subsea systems such as SURF. SURF mainly stands for Subsea Umbilical, Risers and Flowlines. The ability of SURF to extract petroleum, oil & gas, etc. from offshore areas has boomed the energy and power industry as well. The extraction of these resources helps in fulfilling the needs of the growing population.
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Growing demands for oil and gas along with increasing deep sea developments and rising explorations in deep water as compared to shallow water is also increasing. These are the two main factors driving the global SURF (Subsea Umbilicals, Risers and Flowlines) market. Other than this, volatile environmental conditions could hamper the overall growth rate of the market at a global level.
The “Global SURF (Subsea Umbilicals, Risers and Flowlines) Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Prysmian Group, Aker Solutions, Technip FMC, Subsea 7, Saipem, McDermott International Inc., DeepOcean Group Holding BV, Ocean Installer AS and Actuant Corporation. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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