According
to the report, the global subsea manifolds market was valued at USD
2,540.01 million and is expected to reach USD 3,716.42 million by
2020, expanding at a CAGR of 5.60% between 2014 and 2020.
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Subsea Manifolds Market Report with Full TOC at
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The
hydrocarbon exploration and production companies are gradually
shifting their focus towards the development of distinct deepwater
basins. Rising investments in complex offshore reservoir structures
lead to increase in demand for efficient and advanced technologies.
The exploration companies are installing subsea structures with an
aim to increase oil recovery from deepwater reservoirs, extend life
of existing fields, and reduce the capital and operating
expenditures. Subsea technologies have gradually developed over the
years and future offshore development projects would benefit from
this technology as it substantially reduces the cost associated with
production platforms. Subsea manifold systems are key equipment,
designed to direct the flow from subsea production wells into
multiple production flowline headers. Subsea manifold systems are
utilized by offshore operators to simplify the subsea system.
Currently,
Europe is the major market for subsea manifolds in terms of
installations. The mandatory use of a template structure for the
protection of subsea instruments substantially increases the
installation costs in Europe. It is expected that exploration
companies operating in offshore areas of Brazil and West Africa are
likely to be the major consumers of subsea manifolds within the
forecast period. Offshore operators in these areas have awarded
long-term supply contracts to major subsea technology manufacturers
to deliver manifolds for field development activities. Extraction of
heavy oils and low reservoir pressures are some of the major factors
accountable for the widespread adoption of subsea technologies in
these regions. In North America, several deepwater projects are
planned in the Gulf of Mexico which would considerably increase the
demand for subsea manifolds. Offshore activities in areas such as the
Gulf of Mexico, and offshore California are projected to drive
investments in the subsea manifolds market.
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Subsea
manifolds systems are widely being deployed in both the Brownfield
and Greenfield offshore development projects. At distinct offshore
locations, field development through surface facilities might be
uneconomical. Investments in subsea technologies are rising
considerably due to increasing investments in deepwater areas with
harsh operating conditions. The subsea manifold system aids in the
transfer of fluids from wellhead into the pipeline or vice versa in
case of injection. Production manifolds and injection manifolds are
the major application segments of the subsea manifolds market. The
requirement of these manifolds depends on field conditions and
reservoir properties. However, production manifolds accounted for the
major market share in terms of installations in 2013. Aging reserves
in regions such as Europe and low reservoir pressure in subsea areas
of Latin America are the major factors attracting investments in the
injection manifolds market.
This
research has been designed to estimate, analyze, and forecast market
revenue of the subsea manifolds market. It provides an in-depth
analysis of the market size of subsea manifolds in terms of revenue
(USD Million). Key players in the market include Aker Solutions ASA,
FMC Technologies Inc., General Electric, OneSubsea, Technip S.A., and
Dril-Quip Inc. The report provides an overview of these companies,
their financial revenues, business strategies, and recent
developments. The research analyzes and estimates the performance of
the global subsea manifolds market. It provides a detailed trend
analysis of the market in terms of geography and offers a
comprehensive analysis of companies that supply subsea manifolds to
offshore hydrocarbon exploration companies. For a better
understanding of the subsea manifolds industry, the market has been
segmented as below:
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Press Release Of Subsea Manifolds Market
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Subsea
Manifolds Market: Application Analysis
- Production Manifolds
- Injection Manifolds
Subsea
Manifolds Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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