Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market is projected to expand significantly, rising from a valuation of USD 5.33 Billion in 2025 to USD 8.96 Billion by 2031, representing a CAGR of 9.04%. SURF components serve as critical underwater infrastructure, linking seabed wellheads to surface platforms to enable the transport of hydrocarbons and transmission of data. Key factors fueling this growth include renewed interest in deepwater exploration and a strategic focus on subsea tiebacks to maximize production from current facilities, all underpinned by a global push for energy security that necessitates accessing remote offshore reserves.

Conversely, market progression faces hurdles due to supply chain limitations and rising raw material prices, which threaten project timelines and economic viability. Data from the International Energy Agency indicates that global upstream oil and gas investment is set to increase by 7% in 2024, reaching USD 570 billion. This rise underscores a capital-intensive landscape where volatility in input costs can postpone final investment decisions for large-scale subsea projects and disrupt the intricate scheduling required for installation campaigns.

Market Drivers

A primary catalyst for the market is the renewed increase in offshore Exploration and Production (E&P) capital expenditure, especially within deepwater sectors. Energy firms are increasingly approving complex greenfield projects to ensure long-term reserve replacement, which drives the need for extensive flowline and umbilical networks to move hydrocarbons from the seabed. This trend is highlighted by substantial investments in new basins; for instance, TotalEnergies announced a USD 10.5 billion Final Investment Decision in October 2024 for the GranMorgu Project in Suriname, necessitating significant subsea infrastructure to tap into remote resources.

Simultaneously, the shift toward economical subsea tie-back and brownfield redevelopment is transforming procurement approaches. Operators are favoring short-cycle projects that leverage existing infrastructure to optimize returns and reduce carbon emissions, relying on extended subsea conduits to link remote wells to established hubs. As noted in Aker BP's Second Quarter 2024 Report, the operator plans a capital spend of roughly USD 5 billion for the year, largely fueled by numerous subsea tie-back initiatives on the Norwegian Continental Shelf, while TechnipFMC reported USD 2.5 billion in subsea inbound orders in the third quarter of 2024, confirming robust equipment demand.

Market Challenges

The expansion of the Global SURF Market is significantly hindered by supply chain restrictions and escalating raw material costs. These issues introduce considerable economic volatility, causing operators to delay Final Investment Decisions (FIDs) as the price of specialized materials like high-grade steel and advanced polymers fluctuates. Unexpected rises in input costs inflate the capital expenditure (CAPEX) needed for deepwater initiatives, often diminishing the profit margins of greenfield and tie-back developments and leading to the postponement or cancellation of projects once considered commercially feasible.

Beyond pricing, logistical bottlenecks and limited fabrication capacity for specialized subsea manufacturing result in prolonged lead times that interfere with strict offshore installation schedules. Such misalignment often causes expensive delays because installation vessels require booking years in advance. In 2024, Offshore Energies UK warned that a potential £450 billion investment in energy infrastructure by 2040 is currently jeopardized by persistent resource scarcity and supply chain instability, creating uncertainty that hampers long-term investment and stalls market momentum despite growing energy needs.

Market Trends

The widespread shift toward Integrated EPCI (iEPCI) contract models is reshaping procurement by combining subsea umbilicals, risers, and flowlines (SURF) with subsea production systems (SPS) into unified commercial agreements. This consolidated strategy reduces execution risks by removing inefficiencies at the interface of different work packages, thereby speeding up the timeline to first oil for complex projects. As evidence of this trend, TechnipFMC’s Fourth Quarter 2024 Results press release in February 2025 noted a nearly 25% increase in the value of its iEPCI awards in 2024, illustrating the sector's move toward these structures to optimize capital use.

In parallel, the utilization of Thermoplastic Composite Pipes (TCP) is increasing as a preferred alternative to conventional steel and flexible pipes in deepwater settings. TCP offers superior resistance to fatigue and corrosion, which lowers operational costs and extends infrastructure lifespan, while its lightweight, spoolable nature allows for installation by smaller, more affordable vessels. This shift was underscored in August 2025 by World Pipelines, reporting that Strohm won a contract to supply four TCP jumpers for gas production in Malaysian waters up to 1,500 meters deep, confirming the material's suitability for demanding deepwater applications.

Key Players Profiled in the Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market

• ABB Ltd.
• Aker Solutions ASA
• Baker Hughes Co.
• Bureau Veritas SA
• NOV Inc.
• Oceaneering International Inc.
• Parker Hannifin Corp.
• Saipem SPA
• Schlumberger Ltd.
• ArcelorMittal SA

Report Scope

In this report, the Global Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market has been segmented into the following categories:

Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, by Product:

• Flowlines
• Umbilicals
• Risers

Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, by Type:

• Shallow Water
• Deep Water
• Ultra Deep Water

Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.