San Francisco, 20 December 2018, Subsea Manifolds Market Analysis By
Application (Production, Injection), By Region (North America, Europe, Asia
Pacific, Central & South America, Middle East & Africa), And Segment
Forecasts, 2018 – 2025
The global subsea manifolds market is
expected to be valued at USD 5.08 billion by 2025, according to a new report by
Grand View Research, Inc. Increasing deepwater drilling activities and
favorable revised offshore regulations have been a major factor driving the
market growth.
Subsea
manifolds are utilized to direct fracturing fluids to the wells and to extract
the produced fluids from the well into the flow lines. Subsea manifolds are
devised to withstand the harsh conditions in deepwater. These systems are
customizable as per the type of the soil in the sea bed. The manifolds can be
utilized for horizontal or vertical connections with the resource bed in deepwater.
They have a highly customizable design and are able to connect to multiple
wells at the same time.
Subsea
manifolds facilitate the employment of a number of Enhanced Oil Recovery (EOR)
strategy. The production manifold is employed for various applications by
E&P companies including, isolations, testing, allocation management, and
sampling. They are also employed to bring the produced fluids on to the surface
via flow lines. Owing to these factors, production segment had the largest
market share of 61.1% in 2016, and is anticipated to show a steady growth over
the next eight years.
Injection
is projected to grow at an estimated CAGR of 5.4% over the forecast period of
2016 to 2025, and thus be the fastest-growing segment in the application
category. Injection manifolds can be customized to handle various types of
fluids including, water-alternating-gas, gas, water, oil-based fluids,
synthetic-based fluids, and foam-based fluids. These manifolds are subjected to
immense pressure in deepwater and need to be built to withstand the harsh
operating conditions; which thus makes their manufacturing cost high. This
factor is anticipated to positively drive the injection segment growth over the
forecast period of 2017 to 2025.
Access Full
Research Report On Subsea
Manifolds Market Analysis:
Further key findings from the report
suggest:
·
The global subsea manifolds
demand was valued at USD 3.31 billion in 2016 and is expected to grow at a CAGR
of 5.0% from 2017 to 2025
·
Production emerged as the
largest application segment in 2016 and is estimated to generate revenue of USD
3.02 billion by 2025
·
Injection is anticipated to be
the fastest growing application segment over the next eight years and is
estimated to grow at a CAGR of 5.4%
·
Global subsea manifolds demand
in production application was valued at USD 2.02 billion in 2016 and is
anticipated to witness steady growth over the next eight years
·
The U.S. subsea manifolds
market in applications category was valued at USD 0.38 billion in 2016 and is
estimated to be valued at USD 0.57 billion by 2025
·
The Asia Pacific region is
anticipated to witness high growth at a CAGR of 5.3% by 2025. Increasing
financial aid tax benefits and government initiatives to exploit hydrocarbon
reserves sustainably in South Korea, China, and India, is expected to drive
market penetration in this region over the next few years.
·
Major players in the industry
include Schlumberger, Weatherford International, Halliburton, Archer Limited,
and Baker Hughes. In order to expand their product portfolio and gain market
share, these major players are often indulged in mergers, joint ventures, &
acquisitions.
Browse More Reports Of This
Category By Grand View Research At: www.grandviewresearch.com/industry/construction-and-utilities
Grand View Research has
segmented the global Subsea Manifolds market on the basis of application, and
region:
Subsea
Manifolds Application Outlook (Revenue, USD Million, 2014 - 2025)
·
Production
·
Injection
Subsea
Manifolds Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
UK
o
Norway
·
Asia Pacific
o
China
o
Indonesia
·
Central & South America
·
Middle East & Africa
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www.grandviewresearch.com/press-release/global-subsea-manifolds-market
www.grandviewresearch.com/press-release/global-subsea-manifolds-market
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com/
