Subsea Manifold Market 2019 Industry Trends, Leading Players: ABB, Aker Solutions ASA, Baker Hughes Inc., TechnipFMC Technologies Inc., Schlumberger, Halliburton, Siemens AG, Drill Quip Etc.

The global subsea manifold market is anticipated to witness remarkable growth during the forecast period. Europe region is expected to dominate the market with the largest market share in the forecast period.

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%. 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. 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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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. 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.

Competitive Dashboard

Some of the key players profiled in this MRFR report are 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.) and Technip S.A. (France)

Industry News

In October, 2016 – Aker Solutions secured two contracts worth at least NOK 900 million from DEA Norge to deliver the subsea production system, maintenance and services at the Dvalin natural gas development offshore Norway.

In April, 2017 – Aibel has secured a contract from TechnipFMC to supply a subsea manifold and structure for an integrated foundation for Oda field in the Norwegian North Sea.

In September, 2017 – Baker Hughes, a GE company (NYSE: BHGE) announced a major subsea contract from Petrobel for phase two of the “supergiant” Zohr Gas Field situated in the Mediterranean Sea, off the Egyptian coast.

In December, 2017 – Aker Solutions won orders from Aker BP for the Skogul and Valhall Flank West oil fields offshore Norway.

Market Segmentation

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.

Regional 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.

The Middle East & Africa region also accounted for a significant share of the global subsea manifold industry in terms of installations in 2013. Large deployments of subsea production systems for the development of deep-water offshore hydrocarbon reserves in the West Coast of Africa has contributed significantly to the subsea manifolds installations.

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Detailed Table of Contents:

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

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

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global Subsea Manifold Market, By Product

5.1 Introduction

5.2 Template

5.2.1 Market Estimates & Forecast, 2017-2023

5.2.2 Market Estimates & Forecast By Region, 2017-2023

….Continued!

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This release was published on openPR.