- March 27, 2015
- Transparency Market Research
Subsea Manifolds Market (By Application - Production, and Injection) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020
Transparency Market Research has released a new market report titled Subsea Manifolds Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2020. According to the report, the global subsea manifolds market was valued at USD 2,540.01 million and is expected to reach USD 3,716.42 million by 2020, expanding at a CAGR of 5.60% between 2014 and 2020.
The hydrocarbon exploration and production companies are gradually shifting their focus towards the development of distinct deepwater basins. Rising investments in complex offshore reservoir structures lead to increase in demand for efficient and advanced technologies. The exploration companies are installing subsea structures with an aim to increase oil recovery from deepwater reservoirs, extend life of existing fields, and reduce the capital and operating expenditures. Subsea technologies have gradually developed over the years and future offshore development projects would benefit from this technology as it substantially reduces the cost associated with production platforms. Subsea manifold systems are key equipment, designed to direct the flow from subsea production wells into multiple production flowline headers. Subsea manifold systems are utilized by offshore operators to simplify the subsea system.
Currently, Europe is the major market for subsea manifolds in terms of installations. The mandatory use of a template structure for the protection of subsea instruments substantially increases the installation costs in Europe. It is expected that exploration companies operating in offshore areas of Brazil and West Africa are likely to be the major consumers of subsea manifolds within the forecast period. Offshore operators in these areas have awarded long-term supply contracts to major subsea technology manufacturers to deliver manifolds for field development activities. Extraction of heavy oils and low reservoir pressures are some of the major factors accountable for the widespread adoption of subsea technologies in these regions. In North America, several deepwater projects are planned in the Gulf of Mexico which would considerably increase the demand for subsea manifolds. Offshore activities in areas such as the Gulf of Mexico, and offshore California are projected to drive investments in the subsea manifolds market.
Subsea manifolds systems are widely being deployed in both the Brownfield and Greenfield offshore development projects. At distinct offshore locations, field development through surface facilities might be uneconomical. Investments in subsea technologies are rising considerably due to increasing investments in deepwater areas with harsh operating conditions. The subsea manifold system aids in the transfer of fluids from wellhead into the pipeline or vice versa in case of injection. Production manifolds and injection manifolds are the major application segments of the subsea manifolds market. The requirement of these manifolds depends on field conditions and reservoir properties. However, production manifolds accounted for the major market share in terms of installations in 2013. Aging reserves in regions such as Europe and low reservoir pressure in subsea areas of Latin America are the major factors attracting investments in the injection manifolds market.
This research has been designed to estimate, analyze, and forecast market revenue of the subsea manifolds market. It provides an in-depth analysis of the market size of subsea manifolds in terms of revenue (USD Million). Key players in the market include Aker Solutions ASA, FMC Technologies Inc., General Electric, OneSubsea, Technip S.A., and Dril-Quip Inc. The report provides an overview of these companies, their financial revenues, business strategies, and recent developments. The research analyzes and estimates the performance of the global subsea manifolds market. It provides a detailed trend analysis of the market in terms of geography and offers a comprehensive analysis of companies that supply subsea manifolds to offshore hydrocarbon exploration companies. For a better understanding of the subsea manifolds industry, the market has been segmented as below:
Browse the full Subsea Manifolds Market (By Application - Production, and Injection): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2020 report at http://www.transparencymarketresearch.com/subsea-manifolds-market.html
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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