(MENAFN - GetNews) Subsea Manifold Market Research Report: Information By Product (Template, Cluster, and pipeline end), Application (Production and Injection (gas, water, chemicals)) and Region (North America, Europe, APAC, Middle East & Africa) - Global Forecast Till 2023
A subsea manifold is an equipment that is designed to increase oil recovery from deep water reservoirs. They increase the life of the existing oil fields and also help in reducing the capital and operating cost of the oil production facilities. As per the study conducted by Market Research Future, the global market for subsea manifold is likely to grow at the CAGR of around 4.85%.
Globally there is an increase in Subsea Manifolds Market because of the increased customization of subsea production solutions. These options are available based on soil properties of the oil field extraction area. Oil exploration companies are focusing on developing and improving the oil extraction recovery techniques and Subsea Manifold Market are the predominantly used in these applications. Offshore deep-water basins are generally rich with hydrocarbon reserves and requires advance technology and capability to extract oil from these areas. 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.
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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.
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, AsiaPacific, Europe and Rest of world.
The global Subsea Manifold Market is one of the most technological advance market. To maintain the market position and to drive the market growth, all the major players continuously strive for technological development in their Subsea Manifold oil recovery systems. Market leaders are rigorously involved in R & D activities, so as to develop feasible product, which fulfils all the client requirement over their exploration and production operations. The subsea manifolds are designed and customized as per the requirements of the offshore operating company. With increasing demand for subsea technologies in Latin America, and Africa, major subsea manifold manufacturing companies are starting fabrication centers near these areas. The major manufacturing companies prefer operating fabrication facilities near subsea development areas and procure raw materials from local companies to optimize production time. Investments in research and development activities is also a major factor which assists subsea manifolds manufacturing companies to securing supply contracts from hydrocarbon exploration companies.
ABB(Switzerland), Aker Solutions ASA (Norway), Baker Hughes Incorporated (U.S),TechnipFMC Technologies Inc.(U.S.),General Electric(U.S.),and ITT Bornemann GmbH(Germany).One Subsea(U.S.),Subsea 7 S.A. (U.K.),Schlumberger (U.S.), Halliburton (U.S.), Siemens AG (Germany), and Drill Quip (U.S.)
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
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