A riser refers to a specially constructed pipe that moves fluid between the subsea equipment and surface bodies including platforms, FPSOs (floating production storage and offloading vessels), and drill platforms. A well-designed riser configuration is safe and provides compliancy to motion of the surface vessel in a suitable manner by minimizing the station-keeping requirements for the vessel.
MARKET DYNAMICS
Risers Market size is expected to grow commendably over the next coming years. This growth is driven by the strong focus on integrating advanced riser systems across industries to reduce rig time and ensure significant cost savings. Likewise, the development of drill riser buoyancy systems for deep-sea mining applications will also add impetus to the industry demand over the foreseeable future. Growing investment interest towards offshore oil and gas exploration activities worldwide is one of the key trends characterizing the overall risers market dynamics over the forecasted period.
MARKET SCOPE
The ?Global Risers Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the risers market with detailed market segmentation by type, and application. The global risers market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading risers market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
1. By Type: The global market is categorized into Risers, Riser Sleeves, and Other Foundries.
2. By Application: The global market is categorized into Steel Casting, and Automated High Pressure Molding Machines.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2018 to 2028 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The risers market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the risers market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the risers market in these regions.
IMPACT OF COVID 19
Reduced demand for crude oil and the production imbalance in the wake of the coronavirus pandemic has resulted in a price crash. Various companies across the oil and gas sector have initiated a spate of delays as well as postponements of maintenance campaigns as a part of their cost-cutting strategy. Factors such as these could result in the declining offshore oil and gas exploration activities and in turn, impede the risers industry outlook over the projected timeframe. However, the gradual revival of offshore drilling activity may aid in the industry recovery over the forthcoming years.
MARKET PLAYERS
The report covers vital developments in the risers market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the risers market are anticipated to have lucrative growth opportunities in the future with the rising demand for risers in the global market. Below mentioned is the list of a few companies engaged in the risers market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the risers market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
1. Aker Solutions
2. ASK Chemicals
3. BHGE
4. Claxton Engineering
5. DNV-GL
6. National Oilwell Varco
7. Subsea 7
8. Saipem (Eni)
9. TechnipFMC
10. Vallourec