Summary

Global Subsea Manifolds Market is expected to grow at a significant rate of around 5% during the forecast period. Subsea Manifolds are an arrangement of piping and/or valves designed to combine, distribute, control, and often monitor fluid flow. Additionally, subsea manifolds are installed on the seabed within an array of wells to gather production fluids or to inject water or gas into wells. They have been used in oil and gas field development to simplify the subsea system, minimize the use of subsea pipelines and risers, and optimize the flow of production fluids within the system. Furthermore, Manifolds are installed on the sea floor within a series of wells to collect products or introduce water or gas into the wells. The underwater production system consists of a complete underwater borehole, Christmas tree, umbilical, riser, jumper, flowline, underwater structure, and underwater control system. Moreover, all this equipment not only improves oilfield performance but also reduces production costs. Submersible manifolds must therefore operate efficiently in deeper waters.

ABB Ltd, Aker Solutions ASA, Baker Hughes, Dril-Quip Inc., Halliburton Company, OneSubsea, Schlumberger Limited, Subsea 7 S.A., TechnipFMC plc, Trendsetter Engineering are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst type, cluster manifold category to witness robust CAGR during the forecast period”
Based on type, the market is segmented into template manifold, cluster manifold, and pipeline end manifold (PLEM). The cluster manifold category is to witness higher CAGR during the forecast period owing to its superior to template manifolds as it provides flexibility for the segregation of wells, can include chemical injection, unlike the typical manifolds, and allow the re-use of exploration wells. In addition, it provides flexibility to co-mingle or segregate any wells and can accommodate pigging capability. Moreover, it has reduced the risk of dropped objects and SimOps compared to the template manifold.

“Amongst application, the production to hold a significant share in the market in 2020”
On the basis of application, the market is categorized into production and injection. Among these, production to hold a significant share in the market in 2021. This is mainly due to many E&P companies for well testing, sampling, allocation management, and isolation. In the upcoming years with technological advancement, many companies are moving towards deep-water production to get a sizeable amount of hydrocarbon. In addition, Subsea manifold applications are to combine flows from multiwell templates, transfer flows to production flow lines, and manage the distribution of injected water, gases, and chemicals.

“North America to hold a significant share in the market”
In 2020, North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the enhancing offshore production with large investments in deep-water production in the Gulf of Mexico, which is expected to increase the demand for subsea manifolds. In addition, favorable government rules and regulations and increased investment in offshore exploration and production are expected to accelerate the growth of the North American subsea distribution manifold market. The subsea manifold market is expected to grow rapidly in Latin America where Argentina, Chile, Brazil, and others are investing heavily in offshore exploration and production. Furthermore, the decrease in petroleum imports is due to increased offshore horizontal drilling in the region. For instance, According to Energy Information Administration (EIA), the US imported about 8.47 million barrels per day (b/d) of petroleum from 73 countries.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The Global Subsea Manifolds Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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