Umbilical Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Umbilical Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

  • Transparency Market Research
  • Ongoing
  • ICT

Report Description

Umbilical cable refers to a technology which transfers signals, consumable, or energy from one end of the cable to another. Umbilical cables consist of multiple components assembled together in a composite structure. These components include hoses, tubes, electric cables, and optic cables. In addition, various types of umbilical cables are designed according to the requirement within the application such as electrical umbilical cables with signal and power elements to connect the ends over long distance. Furthermore, some umbilical cables are used to control the operation of subsea production, processing, and injection facilities. Similarly, some umbilical cables provide electric power to control signals to and from system.

The Remote Operated Vehicle (ROV) umbilical communication cables are widely used during the installation of subsea control systems, and operational systems. The umbilical cables are also used to monitor position and functions of subsea installations remotely from offshore platforms or onshore facilities. Similarly, umbilical cables are also used in diving applications to provide life support for the diver. Furthermore, there is a trend of customized product manufacturing as per the end-user requirement. For instance, Technip provides customized umbilical systems and cables for oil and gas industry. In addition, Umbilicals International, Inc. invested in dynamic cable manufacturing to develop high performance cable, hose, and umbilical systems in their Houston, the U.S. production facility. 

The umbilical cables help to cope with the increasing power needs of subsea pumping, compression, and processing equipment. The ROV umbilical cables provide efficient communication without interruptions such as weather or surface traffic. In addition, umbilical cables are more effective as compared to other communication modes such as radio communication or satellite communication. Furthermore, umbilical cables can be operated under harsh environments such as high hydraulic pressures, and turbulent waves. All these factors are expected to drive the global umbilical market over the forecast period till 2024. However, ROV cables are still in improvement phase, and high cost associated with umbilical cables is expected to restrain the large scale adoption of these cables. The umbilical cables can be used in multiple applications such as telecommunication, instrumentation, oil and energy, and other subsea applications, which are expected to provide growth opportunity to the umbilical market in near term. 

The umbilical market is segmented by type, by application, and by geography. By type, the umbilical market is segmented into hydraulic, electro hydraulic, electro-fiber hydraulic, and remote operated vehicle umbilical cables. Based on applications, the umbilical market is segmented into subsea, offshore, onshore, oil and gas, mining, electro-mechanical, and other. On the basis of geography, the umbilical market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among these regions, Europe and North America have seen significant growth in the umbilical market due to increasing subsea operation and growing manufacturing industry. For instance, Nexans installed two power umbilicals for Chevron Corporation in the Gulf of Mexico. Asia Pacific, and Middle East and Africa are anticipated to witness high adoption of umbilical cables due to increasing demand from oil and energy industry, and increasing power needs by various equipment such as control system, and operation systems. Further, LS Cable & System announced the development of umbilical cables for offshore engineering in Korea.

Witnessing the rapid development and increasing adoption of umbilical cables, various players have entered into the global umbilical market. The major players in this market include Nexans, Prysmian S.p.A., JDR Cable Systems Ltd, Oceaneering International, Inc., Aker Solutions ASA, Technip, Subsea 7 S.A., Parker Hannifin Corp, Actuant Corporation, Tyco Electronic Corporation, Cabling Group, Umbilicals International, Inc., Hydro Group plc, LS Cable & System, and Sound Ocean Systems, Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape. 

The study is a source of reliable data on:

  • Key market segments and sub-segments
  • Evolving market trends and dynamics
  • Changing supply and demand scenarios
  • Quantifying market opportunities through market sizing and market forecasting
  • Tracking current trends/opportunities/challenges
  • Competitive insights
  • Opportunity mapping in terms of technological breakthroughs 

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa) 

TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market. 

TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place.  All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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