Subsea Flowlines Industry - Regional Synopsis
Middle East and Africa Market Statistics
Middle East and Africa industry is likely to account for largest revenue share of 35% by 2037, due to rising substantial investments in oil and gas exploration in the region. Increasing investments in the exploration of newly discovered oil reserves, oilfield services, and a favorable outlook for unconventional resource development are driving the market growth in the region. For example, in May 2022, ADNOC announced three important discoveries at Bu Hasa, Abu Dhabi's largest inland oil field with a capacity to produce 650,000 barrels of crude per day. From an exploratory well in the field, the discovery at Bu Hasa contains 500 million barrels of oil.
North American Market Analysis
The subsea flowlines market in the North America region is predicted to hold a share of 28 % during the forecast period 2025-2037. The demand for subsea flowline systems in the region is further driven by technical innovation in drilling and subsea engineering, which allow effective extraction of hydrocarbons from challenging underwater environments. In order to ensure safety and compliance, the adoption of advanced subsea technology is necessary because of stringent regulatory frameworks and environmental standards that contribute to regional industry development.
