The Subsea Manifolds Market is expected to grow over the CAGR of around 4.85% during the period 2017 to 2023.
Hydrocarbon discoveries are increasingly made in the deep water offshore basins around the world. To increase production and operational efficiency of deep water basins, substantial investment are made in installing subsea manifolds. The technology is predominantly applied in deep water production activities where hydrocarbon extraction is carries out in the harshest of environments. Several global oil and gas companies are looking to develop their offshore hydrocarbon reserves which is driving the market. Subsea manifolds also help in achieving better production rate and play a major role in adapting to changing operating conditions and operational flexibility.
The key players of Global Subsea Manifolds Market are:
- ABB (Switzerland)
- Aker Solutions ASA (Norway)
- Baker Hughes Incorporated (U.S)
- Dril-Quip Inc. (U.S.)
- FMC Technologies Inc. (U.S.)
- General Electric (U.S.)
- ITT Bornemann GmbH (Germany)
- OneSubsea (U.S.)
- Subsea 7 S.A. (U.K.)
- Technip S.A. (France)
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Market Research Analysis:
Europe Region is Expected to Dominate the Market:
The Europe region is expected to dominate the Subsea Manifolds Market because of increasing deep water hydrocarbon basins in the North Sea area. The North Sea region accounts for major share of oil and gas production of Europe. There is a stringent environmental rules for implementing new oil field operations in the North Sea region which is driving the market for subsea manifolds to enhance oil recovery from existing deep water regions. The Middle East region also accounts for a significant share of Global Subsea Manifolds Market. This is because of increasing deep water exploration activities in the region.
Scope of the Report
This study provides an overview of the Global Subsea Manifolds Market, tracking one market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
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The scope of the study segments the Global Subsea Manifolds Market by its Application Type and by Regions.
- By Applications Type
- Production Manifolds
- Injection Manifolds
- By Regions
- North America
- Asia Pacific
- Rest of the World
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