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.
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| U.S. subsea manifolds market revenue by application, 2014 - 2025 (USD Billion) |
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.
Browse full
research report on 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: 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
- U.S.
- Canada
- Mexico
- Europe
- UK
- Norway
- Asia
Pacific
- China
- Indonesia
- Central
& South America
- Middle
East & Africa
Access
Press Release By Grand View Research: 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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