Global Subsea Manifolds Market to Grow at CAGR of 5.6% from 2020
The report, available for sale on the company’s website, gives an in-depth insight of the market trends leading the global subsea manifolds market. It documents the key market drivers, restraints, growth opportunities, and threats.
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According to the research report, the global subsea manifolds market was valued at US$2.5 bn in 2013 and is expected to reach a figure of US$3.7 bn by the end of 2020, growing at a whopping CAGR of 5.6% from 2014 to 2020. The report also indicates the pattern in which the global subsea manifolds market is going to impact the global economy as well.Several international oil and gas companies are looking at developing offshore hydrocarbon reserves, which is driving the market for subsea technologies. These technologies are being crafted in order to combat the difficult operating conditions in deep waters and to bring about flexibility in design to suit the soil properties in respective areas. In recent years, oil and gas exploration companies have preferred installing subsea technologies in offshore fields with heavy oils and low reservoir pressures to achieve a better production rate. These subsea manifold systems enable direct flow from subsea wells to other multiple flowline headers for further production. This equipment is crucial for subsea production systems, as they play a major role in adapting to the changing operating conditions.
The global subsea manifolds market has been segmented on the basis of applications and regions. The applications of subsea manifolds are seen in injection manifolds and production manifolds. In recent times, the injections manifolds segment has witnessed big investments as several international exploration companies are trying to enhance their oil recovery techniques. Production manifolds are used when subsea fields are developed in a manner where the produced fluids are to be transferred into flowlines.
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In terms of regions, the global subsea market has been segmented into the Middle East, Latin America, North America, Africa, and Asia Pacific. According to research analysts, Europe is the biggest market for subsea manifolds, due to the pressure of adhering to template structures to keep subsea instruments intact. The other factors contributing to the growth of the subsea manifolds market in Europe are the huge gas reserves in the North Sea and the strict environmental guidelines that dictate development of offshore reserves.
The key players in the global subsea manifolds market are Aker Solutions ASA, OneSubsea, FMC Technologies, Inc., Dril-Quip Inc., Subsea 7 S.A., Baker Hughes Incorporated, and General Electric. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments. The research report profiles these companies to present their financial outlook, business strategies, recent developments, and investment plans.
Subsea Manifolds Market: Application Analysis
- Production Manifolds
- Injection Manifolds
Subsea Manifolds Market: Regional Analysis
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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