Risers Market Size & Share Analysis - Growth Trends And Forecast (2025 - 2030)

Global Risers Market Trends and Insights

Revival of Deep- & Ultra-Deepwater Project FIDs

Large-scale FIDs are returning as high-specification HPHT technologies prove field economics. BP’s Kaskida marks the first Gulf of Mexico deployment of 20,000 psi subsea equipment at 6,000 ft water depth, unlocking 80,000 bbl/d of capacity from Lower Tertiary reservoirs.^{[1]BP America, “Kaskida Project Overview,” bp.com} Chevron’s Anchor and TotalEnergies’ USD 6 billion Kaminho illustrate how standardized high-pressure kits de-risk future wells. Global Lower Tertiary output is projected to nearly triple between 2023 and 2028, cementing demand for robust riser strings. Operators also bundle SURF and topside scopes to shrink lead times, accelerating pull-through for pipe suppliers. As a result, the offshore riser market is moving from cyclical bursts to a steadier investment cadence that aligns with portfolio decarbonization strategies.

Surge in SURF Package Awards in Brazil & Guyana

Petrobras plans to drill 270 wells from 2025 to 2029 in Campos and Santos basins, driving a wave of pre-salt SURF contracts that specify large-bore risers designed for high CO₂ environments.^{[2]BNamericas, “Petrobras to Drill 270 Offshore Wells,” bnamericas.com} TechnipFMC won a USD 1 billion kit for ExxonMobil’s Whiptail, including 48 subsea trees and purpose-built riser systems.^{[3]World Oil Staff, “TechnipFMC Wins Whiptail SURF Gig,” worldoil.com} Subsea7, SLB OneSubsea, and others are capturing follow-on work as Brazil’s local-content rules mandate in-country manufacturing. Guyana’s Stabroek block mirrors this cycle with record FPSO orders. These clustered awards push suppliers to increase capacity and shorten fabrication throughput, reinforcing South America’s leadership in the offshore riser market.

Life-Extension Demand for Ageing Shallow-Water Risers

North Sea and Gulf of Mexico platforms installed in the 1970s-1980s are reaching design life, yet operators can add 10-20 years through selective riser replacement. Aker BP has ring-fenced USD 5 billion for upgrades, and DHE frameworks now integrate AI diagnostics with corrosion sensors to optimize maintenance.^{[4]Cambridge University Press, “Digital Healthcare Engineering for Offshore,” cambridge.org} Mature-field life-extension is economically attractive at USD 12/bbl lifted, well below greenfield costs. These programs create a steady backlog for aftermarket riser suppliers and support a growing service market for fatigue analysis.

Rapid Adoption of Thermoplastic Composite Pipe (TCP) Risers

TCP combines lightweight thermoplastic matrices with continuous fiber armor to cut riser weight by 60% and slash CO₂ footprint by 50% versus steel. Strohm secured the largest TCP order in industry history for ExxonMobil’s Whiptail—24 jumpers rated for 10,000 psi at 1,600 m water depth. DNV’s new hybrid flexible-pipe standard (ST-F207) adds carbon-fiber layers for high top tension. Investment funds such as SENCO Hydrogen Capital back TCP plants that target oil and CCUS flows, positioning composites as the fastest-growing material segment.

Crude-Oil Price Volatility Impacting FID Timing

A 29% fall in floater contract awards in 2024 underscored how price swings defer marginal projects, especially those with break-even above USD 60/bbl. Gulf of Mexico rig days slipped 11% as supply-chain delays stretched mobilization windows. While more than 3,600 rig days are penciled in for 2026, near-term uncertainty shifts spend to brownfield scopes and short-cycle tiebacks, tempering the otherwise strong offshore riser market outlook. Operators mitigate volatility through modular designs and standardized equipment that lower upfront capital at sanction.

Escalating HSE & Environmental Compliance Costs

Regulators tighten rules on HPHT component qualification, adding 5-10% to project CAPEX for extended testing, digital traceability, and enhanced monitoring. AI corrosion-detection platforms and additional sensors raise upfront budgets but promise lower incident risk and insurance premiums. Europe’s environmental directives likewise require full-life decommissioning plans at FID, elongating timelines. Though these costs compress margins, they spur innovation in greener materials and autonomous inspection tools, delivering downstream savings.

Segment Analysis

By Type: Flexible Risers Maintain Leadership

Flexible risers captured 45.6% of the offshore riser market share in 2024 as their multi-layer architecture accommodates vessel motion and multiphase flow without complex stress joints. The segment benefits from standardizing 10-inch to 16-inch bore designs in Brazil’s pre-salt, supporting economies of scale. Rigid risers, though smaller today, are forecast to grow at an 8.8% CAGR, propelled by ultra-deep projects where axial tension eclipses fatigue as the design driver. Hybrid top-tensioned riser towers bridge the gap, pairing rigid upper sections with flexible jumpers to lower dynamic bending.

Second-generation flexible pipes incorporate corrosion-resistant alloy (CRA) carcasses and real-time fiber-optic strain sensing, improving uptime and reducing inspection trips. Conversely, steel catenary risers (SCRs) dominate Gulf of Mexico projects above 1,500 m where seabed touchdown fatigue is manageable. Suppliers prioritize modular fittings compatible across product families, with both designs co-existing, reinforcing cost competitiveness and extending the offshore riser market size addressable by each technology.

By Material: Steel Dominance Faces Composite Upswing

Steel accounted for 69.8% of 2024 revenue, underpinned by mature supply chains and well-understood weld procedures. However, composites expand at a 9.2% CAGR as operators target weight savings that translate into smaller floating hulls and lower top tension. The offshore riser market size for composite products is forecast to triple by decade-end, fueled by Brazil’s early TCP adoption and North Sea pilots for CCUS lines.

Steel innovation is far from static: super-martensitic grades and cladding techniques extend service into sour HPHT reservoirs. Meanwhile, composite suppliers introduce carbon-fiber armor that lifts burst capacity beyond 15,000 psi, closing the performance gap. Hybrid steel-composite concepts emerge for jumper spools, balancing stiffness with corrosion resistance. Market dynamics thus hinge on project-specific cost-benefit analyses rather than a single-material trajectory.

By Deployment Depth: Shallow Water Still Largest

Shallow water held 50.1% of 2024 spending, reflecting prolific Asia-Pacific shelf developments and life-extension campaigns in the North Sea. Deepwater (500-1,500 m) posts the highest growth at 9.1% CAGR as Angola, Mexico, and Suriname convert discoveries into hub-and-spoke tiebacks. Ultra-deepwater pushes beyond 2,000 m, where 20,000 psi kits and high-strength materials become mandatory. The offshore riser market size in ultra-deep projects remains comparatively small today but offers attractive margins for niche suppliers capable of qualifying bespoke metallurgy.

Operator strategies now emphasize “design one, build many” templates replicating proven riser configurations, shrinking engineering loops, and compressing time to first oil. Depth-agnostic digital twins harmonize monitoring regimes, while standardized pull-in heads simplify installation across varying water depths.

By Application: Production Dominates, Workover Accelerates

Production strings controlled 55.7% of 2024 revenue, as every offshore facility requires at least one production riser per wellbore cluster. Digital flow-assurance packages embedded in new risers give real-time viscosity, wax, and hydrate alerts, lifting uptime and field recovery. Workover risers, though niche historically, are expanding at a 9.0% CAGR as operators embrace proactive well-intervention programs that unlock incremental barrels at below USD 15/bbl. Advanced quick-connect systems now shorten rig time by 30%, easing logistics in deepwater interventions.

Beyond drilling, injection and monitoring applications grow in step with reservoir-management sophistication. Carbon-injection risers fitted with composite inner liners illustrate how application diversity broadens the offshore riser market, cushioning cyclicality tied solely to new-well counts.

Geography Analysis

South America remains the epicenter of offshore riser investment, accounting for 35.3% of 2024 revenue and growing at 8.5% CAGR. Brazil’s pre-salt alone demands 700 new and refurbished wells by 2028, each with high-capacity production risers designed for CO₂-rich fluids. Guyana’s rapid FPSO rollout compounds regional demand, while 20-25% local-content targets encourage in-country pipe fabrication and inspection services.

North America ranks second, supported by the Gulf of Mexico’s HPHT pipeline of projects such as Chevron’s Anchor, bp’s Kaskida, and Shell’s Sparta. Although supply-chain bottlenecks slowed rig contracting in 2024, standardized 20-ksi hardware de-risks future FIDs. As agencies update well-control rules, Deepwater permits also receive regulatory clarity, stabilizing the offshore riser market outlook.

Europe’s North Sea focuses on life-extension and CCUS conversions. Norway funds brownfield upgrades like the Ula extension, while the United Kingdom accelerates carbon-infrastructure scoping. Vintage steel risers undergo fatigue reassessment and CRA relining, channeling steady revenue to inspection and retrofit firms.

Asia-Pacific’s shelf and deepwater basins attract >USD 300 billion in CAPEX for 2025, led by China, Malaysia, and Australia. Regional NOCs increasingly adopt composite jumpers to bypass decades-old anti-corrosion challenges, underpinning demand diversification.

The Middle East and Africa show resurging activity through Saudi Aramco’s Safaniyah upgrade and Angola’s Kaminho development. Local fabrication yards in Saudi Arabia and Nigeria are modernizing to qualify 15-ksi SCRs, laying groundwork for a broader shift toward regionalized supply chains that smooth delivery risk for global EPC players.