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The market size for subsea manifolds was estimated at USD 5.29 billion in 2022 and is anticipated to increase from USD 5.79 billion in 2023 to USD 10.99 billion by 2030, expanding at a CAGR of 11.15% during the forecast period (2023-2030).
In deep sea oil production projects, manifolds connect the basic infrastructure units known as systems. Manifolds are necessary for subsea infrastructures to link wells to pipelines and risers, then on to reach floaters, platforms, and other facilities. Manifolds are used to manage the distribution of injected water, gas, and chemicals as well as to combine and transmit the flow from the multi-well template to production flowlines. The market for subsea manifolds is offered by any field that is currently being developed to extract oil from subsea beds. Manifolds are one of the most economical and effective methods for developing oil fields while reducing the need for subsea pipes and risers. The fluid flow from the wells is combined, distributed, controlled, and monitored using subsea manifolds. The installation of subsea manifolds in deep sea beds can be done in one of two ways: conventionally, by drilling risers and installing cables, or unconventionally, by using sheaves and other devices.
Factors including the rise in offshore oil discoveries, the number of multi-well templates in the subsea beds, and the challenging geology drilling in offshore basins are what are driving the market for subsea manifolds. Five of the ten fresh oil discoveries made in 2017 took place in deep waters. The terrain beneath the water is more abrasive than that above land. Therefore, it needs a better infrastructure. Template manifolds, cluster manifolds, and pipeline end manifolds are a few examples of subsea manifold types that are made to survive extreme depths and demanding conditions. The market for subsea manifolds is being hampered by the decreased crude oil prices.
The increase in offshore oil discoveries, the quantity of multi-well templates in subsea beds, and the difficult geology drilling in offshore basins are some of the factors driving the market for subsea manifolds. Five of the ten fresh oil finds that occurred in 2022 occurred in deep water. Compared to terrestrial ground, subaerial terrain is more abrasive. Consequently, it necessitates a higher infrastructure. The various varieties of subsea manifolds, including the template manifold, cluster manifold, and pipeline end manifold, are designed to withstand harsh and deep conditions. The decline in the price of crude oil is having a detrimental effect on the market for subsea manifolds.
The subsea manifold industry is anticipated to witness a strong rise in technological breakthroughs throughout the forecast period as a result of ongoing developments in the oil sector and an increase in offshore project activity. Major players are anticipated to participate in significant market expansion efforts as a result of the focus on offshore field development infrastructure.
Rising offshore exploration and production activities are anticipated to boost the market over the forecast period. The expensive cost of servicing subsea manifolds could, however, be a barrier to their global market growth. Over the course of the forecast period, significant technical advancements in drilling operations to meet the demand for oil and gas are also anticipated to boost the market for subsea manifolds.
The surface of the water is rougher than the land above it. Consequently, it requires greater infrastructure. Subsea manifold types designed to withstand great depths and challenging conditions include template manifolds, cluster manifolds, and pipeline end manifolds. The fall in crude oil prices is hindering the demand for subsea manifolds.
Report Coverage
Global Subsea Manifolds research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Subsea Manifolds report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Subsea Manifolds competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Subsea Manifolds market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Subsea Manifolds market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Subsea Manifolds market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB (Switzerland), Aker Solutions ASA (Norway), Baker Hughes Incorporated (U.S), TechnipFMC Technologies Inc. (U.S.), General Electric (U.S.), and ITT Bornemann GmbH (Germany). One Subsea (U.S.), Subsea 7 S.A. (U.K.), Schlumberger (U.S.), Halliburton (U.S.), Saipem, GE Oil & Gas, OneSubsea, National Oilwell Varco, Cameron International, Oceaneering International, Dril-Quip Inc., FMC Technologies, NOV Flexibles, Emerson Electric Company, Prysmian Group, Nexans, JDR Cable Systems, C-Innovation, Siemens AG (Germany), and Drill Quip (U.S.) are among others.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Subsea Manifolds market based on the below-mentioned segments:
Global Subsea Manifolds Market, By Product
Template
Cluster
Pipeline end
Global Subsea Manifolds market, By Application
Production
Injection
Global Subsea Manifolds market, Regional Analysis
In deep sea oil production projects, manifolds connect the basic infrastructure units known as systems. Manifolds are necessary for subsea infrastructures to link wells to pipelines and risers, then on to reach floaters, platforms, and other facilities. Manifolds are used to manage the distribution of injected water, gas, and chemicals as well as to combine and transmit the flow from the multi-well template to production flowlines. The market for subsea manifolds is offered by any field that is currently being developed to extract oil from subsea beds. Manifolds are one of the most economical and effective methods for developing oil fields while reducing the need for subsea pipes and risers. The fluid flow from the wells is combined, distributed, controlled, and monitored using subsea manifolds. The installation of subsea manifolds in deep sea beds can be done in one of two ways: conventionally, by drilling risers and installing cables, or unconventionally, by using sheaves and other devices.
Factors including the rise in offshore oil discoveries, the number of multi-well templates in the subsea beds, and the challenging geology drilling in offshore basins are what are driving the market for subsea manifolds. Five of the ten fresh oil discoveries made in 2017 took place in deep waters. The terrain beneath the water is more abrasive than that above land. Therefore, it needs a better infrastructure. Template manifolds, cluster manifolds, and pipeline end manifolds are a few examples of subsea manifold types that are made to survive extreme depths and demanding conditions. The market for subsea manifolds is being hampered by the decreased crude oil prices.
The increase in offshore oil discoveries, the quantity of multi-well templates in subsea beds, and the difficult geology drilling in offshore basins are some of the factors driving the market for subsea manifolds. Five of the ten fresh oil finds that occurred in 2022 occurred in deep water. Compared to terrestrial ground, subaerial terrain is more abrasive. Consequently, it necessitates a higher infrastructure. The various varieties of subsea manifolds, including the template manifold, cluster manifold, and pipeline end manifold, are designed to withstand harsh and deep conditions. The decline in the price of crude oil is having a detrimental effect on the market for subsea manifolds.
The subsea manifold industry is anticipated to witness a strong rise in technological breakthroughs throughout the forecast period as a result of ongoing developments in the oil sector and an increase in offshore project activity. Major players are anticipated to participate in significant market expansion efforts as a result of the focus on offshore field development infrastructure.
Rising offshore exploration and production activities are anticipated to boost the market over the forecast period. The expensive cost of servicing subsea manifolds could, however, be a barrier to their global market growth. Over the course of the forecast period, significant technical advancements in drilling operations to meet the demand for oil and gas are also anticipated to boost the market for subsea manifolds.
The surface of the water is rougher than the land above it. Consequently, it requires greater infrastructure. Subsea manifold types designed to withstand great depths and challenging conditions include template manifolds, cluster manifolds, and pipeline end manifolds. The fall in crude oil prices is hindering the demand for subsea manifolds.
Report Coverage
Global Subsea Manifolds research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Subsea Manifolds report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Subsea Manifolds competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Subsea Manifolds market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ABB (Switzerland), Aker Solutions ASA (Norway), Baker Hughes Incorporated (U.S), TechnipFMC Technologies Inc. (U.S.), General Electric (U.S.), and ITT Bornemann GmbH (Germany). One Subsea (U.S.), Subsea 7 S.A. (U.K.), Schlumberger (U.S.), Halliburton (U.S.), Saipem, GE Oil & Gas, OneSubsea, National Oilwell Varco, Cameron International, Oceaneering International, Dril-Quip Inc., FMC Technologies, NOV Flexibles, Emerson Electric Company, Prysmian Group, Nexans, JDR Cable Systems, C-Innovation, Siemens AG (Germany), and Drill Quip (U.S.) are among others. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Subsea Manifolds Market from 2021 to 2030.
- Market Forecast for Subsea Manifolds Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Subsea Manifolds competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Subsea Manifolds
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Subsea Manifolds market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Subsea Manifolds market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB (Switzerland), Aker Solutions ASA (Norway), Baker Hughes Incorporated (U.S), TechnipFMC Technologies Inc. (U.S.), General Electric (U.S.), and ITT Bornemann GmbH (Germany). One Subsea (U.S.), Subsea 7 S.A. (U.K.), Schlumberger (U.S.), Halliburton (U.S.), Saipem, GE Oil & Gas, OneSubsea, National Oilwell Varco, Cameron International, Oceaneering International, Dril-Quip Inc., FMC Technologies, NOV Flexibles, Emerson Electric Company, Prysmian Group, Nexans, JDR Cable Systems, C-Innovation, Siemens AG (Germany), and Drill Quip (U.S.) are among others.
Primary Target Market
- Market Players of Subsea Manifolds
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Subsea Manifolds market based on the below-mentioned segments:
Global Subsea Manifolds Market, By Product
Template
Cluster
Pipeline end
Global Subsea Manifolds market, By Application
Production
Injection
Global Subsea Manifolds market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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