Increasing concern towards declining crude oil prices coupled with the restoration of mature fields and exploring deep sea oil and gas reservoirs drive the growth of Umbilical Market.
The Global Umbilical Market in Oil and Gas Industry has been growing at a positive rate, on account of the rising demand for oil and gas globally. The decline in the exploration and production, due to surplus oil in market across the globe has delayed the projects for the time being. However, increasing deep sea developments for hydrocarbons have been triggering the offshore market further driving the market for Umbilical.
During 2016-21, Global Umbilical market in oilfield is anticipated to grow at a CAGR of 3.66%. Moreover, a decrease in crude oil prices will induce more pressure on the economies to exercise cost effective well practises and will result in rise in umbilicals in the coming years.
According to Azoth Analytics research report, Global Umbilical Market (By Type, By Region, By Country): Opportunities and Forecasts (2016-2021) (By Type- Hydraulic, Electro Hydraulic, Electro-Fiber Optical Hydraulic, Electro Hydraulic & Electro-Fiber Optical with Medium Voltage Cores; By Region- N. America, S. America, Africa, Europe, Middle-East and APAC), global Umbilical market is projected to exhibit a positive growth during 2016 2021 at a CAGR of 3.66 % wherein market in South America, West Africa and Asia Pacific is anticipated to rise at higher rates. On the basis of type of Umbilical, market is segmented By Type (Hydraulic Umbilical; Electro Hydraulic Umbilical; Electro- Fiber Optical Hydraulic Umbilical and Electro Hydraulic and Electro- Fiber Optical Hydraulic Umbilical with medium voltage cores) and By Geography (North America, South America, Africa, Europe, Middle East and APAC).
Few of the leading companies operating in the umbilical market include Oceaneering International, Technip, Nexans, Aker Solutions, Prysmian Group, Subsea 7 and many more.
The objective of the research is to present the historical growth (2010-2015) and the future projections (2016-2021) of the umbilical market (global, regional, country) by various types (Hydraulic Umbilical; Electro Hydraulic Umbilical; Electro Hydraulic & Electro- Fiber Optical Umbilical with Medium Voltage Cores). Historical market trend of umbilical has been figured out through secondary research (associations, annual reports, magazines, journals) and by various paid databases. For presenting the dynamics of the industry and future projections, primary research was conducted and experts from the industry were interviewed.
Scope of the Report
The report provides Segmentation of Umbilical by Types
Electro Hydraulic Umbilical
Electro- Fiber Optical Hydraulic Umbilical
Electro Hydraulic & Electro- Fiber Optical Umbilical with Medium Voltage Cores
The report provides coverage by Region
The report provides coverage by Country