San Francisco, 18 December 2018: The Report 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 Research Report of Subsea Manifolds Market @ www.grandviewresearch.com/industry-analysis/subsea-manifolds-market
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
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
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.
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