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Steel Tube Umbilical Market Share, Growth & Forecast [2031]

Steel Tube Umbilical Market

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Segments - by Type (Super Duplex Stainless Steel (Cr25), 316L Steel, and Others), Application (Dynamic, Static, Pre-installed Systems, and Retrofits), End-user (Oil & Gas, Subsea, Renewable Energy, and Defense), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Report Description

The global steel tube umbilical market size was USD XX Bn in 2022 and is likely to reach USD XX Bn by 2031, expanding at a CAGR of XX% during 2023–2031. The market growth is attributed to the rising number of deepwater drilling operations across the globe.

Steel tube umbilicals (STUs) are an important part of several industrial operations, as they are mainly used for fluid, gases, waste, and energy transportation. These are used in major applications in offshore oil & gas operations. The demand for oil & gas is significantly increasing globally; therefore, the companies in the sector as well as governments are implementing ways to increase oil & gas plants and production that is boosting the demand for STUs.

Steel tube umbilical is a complex assembly made up of multiple sheets of steel. It transports fluids, gases, and electrical power between offshore facilities and subsea equipment. These solutions provide a conduit for hydraulic control fluids, chemicals, and electrical signals that are required for the operation of subsea systems such as wellheads, vertical subsea trees, and subsea production control systems. STUs are designed to withstand harsh offshore environments, including high pressures, extreme temperatures, and corrosive conditions.

Several key end-user industries of steel tube umbilical solutions are expanding their product portfolio to meet the overall rising consumer demands across the globe. Factors such as rapidly expanding urbanization, economic growth, and increased spending capacity of consumers influence the market growth.

The market report finds that the COVID-19 pandemic hampered the steel tube umbilical market. Strict restrictions imposed by the governments to control the virus spread disrupted the overall supply chain of industries, including steel industries. The pandemic has affected both developed and emerging economies, as industrial operations were slowed down or completely cut with lockdown measures and supply chain breakdown.

Steel Tube Umbilical Market Dynamics

Major Drivers

Rising demand for steel tubes umbilical from various end-use industries, due to its inherent tensile strength and load-bearing properties is expected to fuel the market during the forecast period. STUs are used for hydraulic control applications and chemical injection. Steel tubes have a structural function within steel tube umbilical, supporting umbilical cord weight and removal for ductile armor. STU technology permits to design of optimized and compact cable cross-sections by using pre-shaped fillers.

Increasing demand from the wind power generation industry is expected to boost the steel tubes umbilical market in the coming years. Wind turbines are used to generate electricity and these turbines require an umbilical to transmit power back to shore. It converts the kinetic energy in the wind to mechanical power. This power is used for specific tasks such as pumping water and grinding gain, and it can be converted into electricity by a generator.

Existing Restraints

High costs and a weak economic outlook are likely to hamper the steel tube umbilical market during the forecast period. The economic recovery is expected to weaken with the rising inflation and interest rates, due to the slowdowns caused by COVID-19. Furthermore, the Russia and Ukraine war has considerably slowed economic growth globally, as it affected industrial operations and supply chain activities. These factors are adversely impacting the manufacturing sectors where STUs have applications such as the oil & gas sector.

Emerging Opportunities

Increasing research & development (R&D) activities and a rising focus on technological innovations by market key players are expected to create lucrative opportunities in the market. Several companies are focusing on developing new product launches at affordable prices and new features to create a robust market presence. Industries are on the path to improving production and optimizing operations, which is projected to create significant demand for solutions that are durable and efficient.

Scope of Steel Tube Umbilical Market Report

The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Steel Tube Umbilical Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Type (Super Duplex Stainless Steel (Cr25), 316L Steel, and Others), Application (Dynamic Applications, Static Applications, Pre-installed systems, and Retrofits), and End-user (Oil & Gas, Subsea, Renewable Energy, and Defense)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
Key Players Covered in the Report	JDR Cable Systems Ltd; TechnipFMC plc; NEXANS; Oceaneering International, Inc.; Tratos; VALLOUREC; PARKER HANNIFIN CORP; TUBACEX S.A.; and Ningbo Orient Wires & Cables Co., Ltd.

Steel Tube Umbilical Market Segment Insights

Type Segment Analysis

Based on type, the steel tube umbilical market is divided into super duplex stainless steel (Cr25), 316L steel, and others. The super duplex stainless steel (Cr25) segment is expected to expand at a significant pace during the projection period, owing to its excellent corrosion resistance properties. Super duplex stainless steel (Cr25) is a high-temperature stainless steel alloy with oxidation, and it is used under stress at elevated temperatures without losing any of its inherent properties. It is used at temperatures up to 150°C maximum. Duplex stainless steel provides high resistance to caustic solutions, acid chloride, and to other environmental chemicals in the pulp & paper chemicals and chemical/petrochemical industries.

The 316L steel segment is estimated to hold a key share of the market in the coming years, as it possesses molybdenum and less carbon than typical 316 steel. 316L stainless steel is the suitable choice for high temperature and high corrosion applications. It has a maximum carbon content of up to 0.03%. 316L stainless steel has high strength coupled with ductility, which makes it easy to fabricate at room temperature.

Application Segment Analysis

On the basis of application, the global market is segregated into dynamic, static, pre-installed systems, and retrofits. The dynamic segment is projected to expand at a considerable CAGR during the forecast period, due to the rapid expansion of offshore oil & gas production activities. Dynamic application is used to provide pipe connections between drilling platforms, offshore equipment and rigs, ships, or onshore plants. This helps in providing oil or gas connection at a deep-sea level, where numerous products are essential to get pumped up by the tube umbilical.

The static segment is anticipated to account for a considerable market share in the coming years, as it is mainly used as a permanent structure to provide fluid flow between two points. It provides the passage of optical and electrical cables for improved data connectivity. Some of the important applications of STUs include offshore oil & gas, power generation equipment, subsea engineering paperwork, chemical plants, and others.

End-user Segment Analysis

Based on end-user, the steel tube umbilical market is segmented into oil & gas, subsea, renewable energy, and defense. The oil & gas segment is expected to register a robust growth during the forecast period, owing to the rising production of offshore oil & gas across the globe. Steel tube umbilical helps to transfer oil & gas from offshore wellhead platform to onshore terminal through water depths up to several thousand meters. Umbilical link seafloor oil & gas equipment to control power or heat. They provide electrical power & hydraulic, electric, fiber-optic signals, and chemical injection fluids to the subsea unit.

Regional Analysis

In terms of region, the global steel tube umbilical market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, owing to the increasing demand for STUs from the oil & gas industry. The majority of the oil & gas production relies on the onshore activities, especially in the US.

According to the International Energy Agency, in 2022, the global oil & gas demand growth is estimated by 380 kb/d to 2.1 mb/d. The demand for oil is expected to be 101.8 mb/d in 2023.

The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years, due to the rising infrastructure development activities, rapid urbanization, and industrial growth across various countries such as India, China, and Indonesia. Energy demand is growing rapidly with the exponential population growth and rising industrial production activities. This is leading to rising energy production operations, and thus, creating significant demand for STUs in the region.

Segments

The global steel tube umbilical market has been segmented on the basis of

Type

Super Duplex Stainless Steel (Cr25)
316L Steel
Others

Application

Dynamic Applications
Static Applications
Pre-installed Systems
Retrofits

End-user

Oil & Gas
Subsea
Renewable Energy
Defense

Region

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

JDR Cable Systems Ltd
TechnipFMC plc
NEXANS
Oceaneering International, Inc.
Tratos
VALLOUREC
PARKER HANNIFIN CORP
TUBACEX S.A.
Ningbo Orient Wires &Cables Co., Ltd.

Competitive Landscape

Key players competing in the global steel tube umbilical market are JDR Cable Systems Ltd; TechnipFMC plc; NEXANS; Oceaneering International, Inc.; Tratos; VALLOUREC; PARKER HANNIFIN CORP; TUBACEX S.A.; and Ningbo Orient Wires &Cables Co., Ltd.

Some of these key players are adopting various strategies including mergers, acquisitions, collaboration, partnerships, product launches, and production expansion to grow their consumer base globally. For instance,

In March 2023, Aker Solutions selected TUBACEX as a delivery partner for umbilical tubes for key projects on the Norwegian Continental Shelf. According to the collaboration deal, TUBACEX is to deliver Aker Solutions AS, a total of 1,000 km of umbilical offshore tubes to be installed for three projects in the North Sea. This agreement aims to manufacture tubes, that are used to control production equipment on the seabed and for the injection of fluids corrosion inhibitors.

Steel Tube Umbilical Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Steel Tube Umbilical Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Steel Tube Umbilical Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Steel Tube Umbilical Market - Supply Chain
  4.5. Global Steel Tube Umbilical Market Forecast
     4.5.1. Steel Tube Umbilical Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Steel Tube Umbilical Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Steel Tube Umbilical Market Absolute $ Opportunity
5. Global Steel Tube Umbilical Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Steel Tube Umbilical Market Size and Volume Forecast by Types
     5.3.1. Super Duplex Stainless Steel (Cr25)
     5.3.2. 316L Steel
     5.3.3. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Steel Tube Umbilical Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Steel Tube Umbilical Market Size and Volume Forecast by Applications
     6.3.1. Dynamic Applications
     6.3.2. Static Applications
     6.3.3. Pre-installed Systems
     6.3.4. Retrofits
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Steel Tube Umbilical Market Analysis and Forecast by End Users
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by End Users
     7.2.2. Y-o-Y Growth Projections by End Users
  7.3. Steel Tube Umbilical Market Size and Volume Forecast by End Users
     7.3.1. Oil & Gas
     7.3.2. Subsea
     7.3.3. Renewable Energy
     7.3.4. Defense
  7.4. Absolute $ Opportunity Assessment by End Users
  7.5. Market Attractiveness/Growth Potential Analysis by End Users
8. Global Steel Tube Umbilical Market Analysis and Forecast by Region
  8.1. Market Trends
  8.2. Introduction
     8.2.1. Basis Point Share (BPS) Analysis by Region
     8.2.2. Y-o-Y Growth Projections by Region
  8.3. Steel Tube Umbilical Market Size and Volume Forecast by Region
     8.3.1. North America
     8.3.2. Latin America
     8.3.3. Europe
     8.3.4. Asia Pacific
     8.3.5. Middle East and Africa (MEA)
  8.4. Absolute $ Opportunity Assessment by Region
  8.5. Market Attractiveness/Growth Potential Analysis by Region
  8.6. Global Steel Tube Umbilical Demand Share Forecast, 2019-2026
9. North America Steel Tube Umbilical Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
  9.2. North America Steel Tube Umbilical Market Size and Volume Forecast by Country
     9.2.1. U.S.
     9.2.2. Canada
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. North America Steel Tube Umbilical Market Size and Volume Forecast by Types
     9.4.1. Super Duplex Stainless Steel (Cr25)
     9.4.2. 316L Steel
     9.4.3. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. North America Steel Tube Umbilical Market Size and Volume Forecast by Applications
     9.7.1. Dynamic Applications
     9.7.2. Static Applications
     9.7.3. Pre-installed Systems
     9.7.4. Retrofits
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. North America Steel Tube Umbilical Market Size and Volume Forecast by End Users
     9.10.1. Oil & Gas
     9.10.2. Subsea
     9.10.3. Renewable Energy
     9.10.4. Defense
  9.11. Basis Point Share (BPS) Analysis by End Users
  9.12. Y-o-Y Growth Projections by End Users
  9.13. Market Attractiveness/Growth Potential Analysis
     9.13.1. By Country
     9.13.2. By Product Type
     9.13.3. By Application
  9.14. North America Steel Tube Umbilical Demand Share Forecast, 2019-2026
10. Latin America Steel Tube Umbilical Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Latin America Average Pricing Analysis
  10.2. Latin America Steel Tube Umbilical Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
  10.4. Latin America Steel Tube Umbilical Market Size and Volume Forecast by Types
     10.4.1. Super Duplex Stainless Steel (Cr25)
     10.4.2. 316L Steel
     10.4.3. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Latin America Steel Tube Umbilical Market Size and Volume Forecast by Applications
     10.7.1. Dynamic Applications
     10.7.2. Static Applications
     10.7.3. Pre-installed Systems
     10.7.4. Retrofits
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Latin America Steel Tube Umbilical Market Size and Volume Forecast by End Users
     10.10.1. Oil & Gas
     10.10.2. Subsea
     10.10.3. Renewable Energy
     10.10.4. Defense
  10.11. Basis Point Share (BPS) Analysis by End Users
  10.12. Y-o-Y Growth Projections by End Users
  10.13. Market Attractiveness/Growth Potential Analysis
     10.13.1. By Country
     10.13.2. By Product Type
     10.13.3. By Application
  10.14. Latin America Steel Tube Umbilical Demand Share Forecast, 2019-2026
11. Europe Steel Tube Umbilical Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Europe Average Pricing Analysis
  11.2. Europe Steel Tube Umbilical Market Size and Volume Forecast by Country
     11.2.1. Germany
     11.2.2. France
     11.2.3. Italy
     11.2.4. U.K.
     11.2.5. Spain
     11.2.6. Russia
     11.2.7. Rest of Europe
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Europe Steel Tube Umbilical Market Size and Volume Forecast by Types
     11.4.1. Super Duplex Stainless Steel (Cr25)
     11.4.2. 316L Steel
     11.4.3. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Europe Steel Tube Umbilical Market Size and Volume Forecast by Applications
     11.7.1. Dynamic Applications
     11.7.2. Static Applications
     11.7.3. Pre-installed Systems
     11.7.4. Retrofits
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Europe Steel Tube Umbilical Market Size and Volume Forecast by End Users
     11.10.1. Oil & Gas
     11.10.2. Subsea
     11.10.3. Renewable Energy
     11.10.4. Defense
  11.11. Basis Point Share (BPS) Analysis by End Users
  11.12. Y-o-Y Growth Projections by End Users
  11.13. Market Attractiveness/Growth Potential Analysis
     11.13.1. By Country
     11.13.2. By Product Type
     11.13.3. By Application
  11.14. Europe Steel Tube Umbilical Demand Share Forecast, 2019-2026
12. Asia Pacific Steel Tube Umbilical Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Asia Pacific Average Pricing Analysis
  12.2. Asia Pacific Steel Tube Umbilical Market Size and Volume Forecast by Country
     12.2.1. China
     12.2.2. Japan
     12.2.3. South Korea
     12.2.4. India
     12.2.5. Australia
     12.2.6. Rest of Asia Pacific (APAC)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Asia Pacific Steel Tube Umbilical Market Size and Volume Forecast by Types
     12.4.1. Super Duplex Stainless Steel (Cr25)
     12.4.2. 316L Steel
     12.4.3. Others
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Asia Pacific Steel Tube Umbilical Market Size and Volume Forecast by Applications
     12.7.1. Dynamic Applications
     12.7.2. Static Applications
     12.7.3. Pre-installed Systems
     12.7.4. Retrofits
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Asia Pacific Steel Tube Umbilical Market Size and Volume Forecast by End Users
     12.10.1. Oil & Gas
     12.10.2. Subsea
     12.10.3. Renewable Energy
     12.10.4. Defense
  12.11. Basis Point Share (BPS) Analysis by End Users
  12.12. Y-o-Y Growth Projections by End Users
  12.13. Market Attractiveness/Growth Potential Analysis
     12.13.1. By Country
     12.13.2. By Product Type
     12.13.3. By Application
  12.14. Asia Pacific Steel Tube Umbilical Demand Share Forecast, 2019-2026
13. Middle East & Africa Steel Tube Umbilical Market Analysis and Forecast
  13.1. Introduction
     13.1.1. Basis Point Share (BPS) Analysis by Country
     13.1.2. Y-o-Y Growth Projections by Country
     13.1.3. Middle East & Africa Average Pricing Analysis
  13.2. Middle East & Africa Steel Tube Umbilical Market Size and Volume Forecast by Country
     13.2.1. Saudi Arabia
     13.2.2. South Africa
     13.2.3. UAE
     13.2.4. Rest of Middle East & Africa (MEA)
  13.3. Absolute $ Opportunity Assessment by Country
  13.4. Middle East & Africa Steel Tube Umbilical Market Size and Volume Forecast by Types
     13.4.1. Super Duplex Stainless Steel (Cr25)
     13.4.2. 316L Steel
     13.4.3. Others
  13.5. Basis Point Share (BPS) Analysis by Types
  13.6. Y-o-Y Growth Projections by Types
  13.7. Middle East & Africa Steel Tube Umbilical Market Size and Volume Forecast by Applications
     13.7.1. Dynamic Applications
     13.7.2. Static Applications
     13.7.3. Pre-installed Systems
     13.7.4. Retrofits
  13.8. Basis Point Share (BPS) Analysis by Applications
  13.9. Y-o-Y Growth Projections by Applications
  13.10. Middle East & Africa Steel Tube Umbilical Market Size and Volume Forecast by End Users
     13.10.1. Oil & Gas
     13.10.2. Subsea
     13.10.3. Renewable Energy
     13.10.4. Defense
  13.11. Basis Point Share (BPS) Analysis by End Users
  13.12. Y-o-Y Growth Projections by End Users
  13.13. Market Attractiveness/Growth Potential Analysis
     13.13.1. By Country
     13.13.2. By Product Type
     13.13.3. By Application
  13.14. Middle East & Africa Steel Tube Umbilical Demand Share Forecast, 2019-2026
14. Competition Landscape
  14.1. Global Steel Tube Umbilical Market: Market Share Analysis
  14.2. Steel Tube Umbilical Distributors and Customers
  14.3. Steel Tube Umbilical Market: Competitive Dashboard
  14.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     14.4.1. JDR Cable Systems Ltd
     14.4.2. TechnipFMC plc
     14.4.3. NEXANS
     14.4.4. Oceaneering International, Inc.
     14.4.5. Tratos
     14.4.6. VALLOUREC
     14.4.7. PARKER HANNIFIN CORP
     14.4.8. TUBACEX S.A.
     14.4.9. Ningbo Orient Wires &Cables Co., Ltd.

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