(MENAFN - GetNews) Subsea Manifolds Market is expected to grow at a CAGR of 4.85% during the forecasted period of 2017 to 2023, Global Subsea Manifolds Market Report categorizes the Global Market by Application Type and by Regions
Subsea Manifold Market Overview
As per the study conducted by Market Research Future, the global subsea manifold market is likely to grow at the CAGR of around 4.85%. The subsea manifold market is driven by facts such as the increasing number of offshore oil discoveries, more multi-well templates in the subsea beds and, harsher geography drilling in offshore basins. In 2017, out of ten new oil discoveries, five were done in deep-water environment. The geography of the subsea beds is harsher than of onshore. Thus it requires superior infrastructure. The types of subsea manifolds which include template manifold, cluster manifold and pipeline end manifold are designed to withstand tough and ultra-deep conditions. However, the lower crude oil prices are hampering the market for subsea manifolds.
Subsea manifolds are increasingly used in these areas to enhance the hydrocarbon production level. These manifolds can be employed in harshest of environmental conditions and can be heavily customized based on soil and operational environments.In recent years major hydrocarbon discoveries are made in the deep water basins around the world. Subsea manifolds are proving to be the main choice of oil extraction from these areas rather than conventional production technologies. For optimising the oil production operations, subsea manifolds are preferred by oil and gas companies to be operated in harshest environmental conditions and can enable direct flow of hydrocarbons from subsea production systems to production flow line headers.
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Subsea Manifolds Market Segments Analysis:
The global Subsea Manifolds market has been segmented on the basis of products, application and regions.
Based on the products,the market is further classified as template manifold, cluster manifold, and pipeline end manifold.
On the basis of application,the market is segmented as production and injection.
Geography-wise,the market is segmented into the four regions of North America, Asia Pacific, Europe and Rest of world.
Subsea Manifolds Regional Market Analysis
Geographically, the global Subsea Manifold market has been divided into North America, Europe, Asia Pacific and Rest of the World.
Among these regions, Currently, Europe is the most prominent market for the subsea manifolds industry. The North Sea, which is a predominantly shallow water region, accounts for a major share of the oil and natural gas production in Europe. In areas such as the North Sea and the Norwegian Continental Shelf, stringent environmental compliances are in place regarding the development of offshore reserves. In such cases, installation of subsea technologies would significantly reduce the risk involved in the offshore oil and gas production operations. The Middle East & Africa region also accounted for a significant share of the global subsea manifold industry in terms of installations in 2013.
ABB(Switzerland), Aker Solutions ASA (Norway), Baker Hughes Incorporated (U.S),FMC Technologies Inc.(U.S.),General Electric(U.S.),ITT Bornemann GmbH(Germany),OneSubsea(U.S.),Subsea 7 S.A. (U.K.)andTechnip S.A. (France).
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Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter's Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
List Of Tables
Table 1 Global Subsea Manifold Market: By Region, 2017-2023
Table 2 North America Subsea Manifold Market: By Country, 2017-2023
Table 3 Europe Subsea Manifold Market: By Country, 2017-2023
Table 4 Asia Pacific Subsea Manifold Market: By Country, 2017-2023
Table 5 RoW Subsea Manifold Market: By Country, 2017-2023
Table 6 Global Subsea Manifold Market, By Product, By Regions, 2017-2023
Table 7 North America Subsea Manifold Market, By Product, By Country, 2017-2023
Table 8 Europe Subsea Manifold Market, By Resin Type, By Country, 2017-2023
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