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Subsea Manifolds Market - Forecasts from 2022 to 2027

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  • 141 Pages
  • December 2022
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5716779

The subsea manifolds market is projected to grow at a CAGR of 3.98% to reach US$4.042 billion by 2027, from US$3.075 billion in 2020.

The rising number of offshore drilling activities across the globe is the major driver of the subsea manifolds market. Subsea manifolds are designed to withstand tough and ultra-deep conditions which, in turn, is increasing the demand for subsea manifolds. The subsea manifolds market is segmented by application as oil production, gas lift injection, gas production, and water injection. Geographically, the market is segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America holds the major market share owing to booming E&P activities in U.S. and Mexico.

With advancements in technology, oil & gas operators are progressively using subsea technologies for the development of offshore hydrocarbon reserves. Subsea technologies are designed, keeping in mind, the harsh operating conditions in deep-water areas, and can be customized depending on the soil properties. In recent times, the majority of the hydrocarbon discoveries made in offshore areas were located in deep-water. Consequently, subsea technologies are turning out to be more lucrative than conventional topside production technologies. Oil & gas exploration companies operating in offshore producing fields with heavy oils and low reservoir pressures prefer installing these technologies for attaining optimized levels of production. Subsea manifold systems are primary equipment, which is designed to tame the flow from subsea production wells to multiple production flowline headers. Subsea manifolds form an important part of subsea production systems as they allow operators to adapt to changing operating conditions. Subsea manifolds are designed flexibly according to the requirements of offshore operating companies. They enable operators to connect future subsea wells efficiently and mitigate production loss when the equipment is not working properly. In many offshore basins, production companies can install dual header manifolds suitable to their requirements.

Application Insights

The global demand for subsea manifolds is rising due to the growing number of drilling activities. Subsea manifolds for production purposes are used for various applications by energy & power companies including, allocation management, sampling, well testing, and isolation. These types of systems are subsea structures consisting of pipework and valves designed and manufactured in a manner to direct the produced resources from the wells into multiple flow lines. The flexible design of these subsea production manifolds allows the operators to generate flow line connections, while also enabling the gas lift distribution, from multiple wells simultaneously. These systems can be used to attain vertical or horizontal flow line connections.

The benefits and features of the vertical flow line connections encapsulate compact structural design, installation of a simplified jumper, direct mounting to the desired foundation, and configurable by means of retrievable or internal pigging loops for round-trip pigging. The horizontal flow line connections by means of production manifold systems have various benefits that include, reduction in snagging risk during working in shallow waters, smooth flow of fluids on account of facilitated self-draining, enhanced protection for dropped-object, and integrated guidance system to enable accurate connections. Subsea injection manifolds are complex structures with multiple pipes and valves, designed to inject fluids into multiple wells. These injection manifolds can then be re-configured to carry and inject various types of fracturing fluids like oil-based fluids, foam-based fluids, water-alternating gas, synthetic-based fluids, water, and gas. These manifolds can also connect to good reservoirs horizontally or vertically and have a customizable design to carry out operations on different types of soil on the seabed.

Geographical Insights

Asia Pacific is expected to be the leading market due to the growing acreages in shale basins along with the plans of governments to expand the existing production capacity of the shale gas in this region are projected to propel the market growth in this region over the forecast period. Favorable government support along with growing exploration and production activities in China is expected to drive offshore drilling activities in the country. The Chinese government has been encouraging coal bed methane exploitation through subsidies. Early developments of North America’s shale gas reserves from deep-water coupled with favorable governmental regulations to develop other unconventional hydrocarbon reserves have accelerated the offshore drilling market in this region. According to the US Energy Information Administration, the net petroleum imports have been going down on account of the increasing domestic oil production. This drop is due to the increasing offshore horizontal drilling in the region. The North American regional government has also sanctioned various deep-water projects in the Gulf of Mexico, which are likely to increase the demand for subsea manifolds. Increasing offshore E&P activities in the offshore Gulf of Mexico, along with offshore California are predicted to drive the investments for subsea manifolds and thus propel the market over the analyzed period.

COVID-19 Insights

However, an outbreak of the COVID-19 pandemic caused several industries to slow down due to the mandated lockdowns and social distancing measures implemented by several governments across the world. The stoppage in drilling activities owing to the COVID-19 pandemic negatively affected the subsea manifolds market. However, with the ease of restrictions, the market is expected to grow steadily.

Market Segmentation:

By Application

  • Oil Production
  • Gas Lift Injection
  • Gas Production
  • Water Injection
  • Others

By Geography

  • North America
  • United States
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Others
  • Middle East and Africa (MEA)
  • Saudi Arabia
  • UAE
  • Isreal
  • Others
  • Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Indonesia
  • Thailand
  • Taiwan
  • Others
Frequently Asked Questions about the Subsea Manifolds Market

What is the estimated value of the Subsea Manifolds Market?

The Subsea Manifolds Market was estimated to be valued at $3.08 billion in 2020.

What is the growth rate of the Subsea Manifolds Market?

The growth rate of the Subsea Manifolds Market is 3.9%, with an estimated value of $4.04 billion by 2027.

What is the forecasted size of the Subsea Manifolds Market?

The Subsea Manifolds Market is estimated to be worth $4.04 billion by 2027.

Who are the key companies in the Subsea Manifolds Market?

Key companies in the Subsea Manifolds Market include Schlumberger Limited, Halliburton Company, General Electric company, Worldwide Oilfield Machine Inc., Dril, Quip, Inc.?, Trendsetter Engineering, Aker Solutions ASA and Baker Hughes Company.

Table of Contents

1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2.1. Research Data
2.2. Assumptions

3.1. Research Highlights

4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5.1. Introduction
5.2. Oil Production
5.3. Gas Lift Injection
5.4. Gas Production
5.5. Water Injection
5.6. Others

6.1. Introduction
6.2. North America
6.2.1. United States
6.2.2. Canada
6.2.3. Mexico
6.3. South America
6.3.1. Brazil
6.3.2. Argentina
6.3.3. Others
6.4. Europe
6.4.1. UK
6.4.2. Germany
6.4.3. France
6.4.4. Italy
6.4.5. Spain
6.4.6. Others
6.5. Middle East and Africa (MEA)
6.5.1. Saudi Arabia
6.5.2. UAE
6.5.3. Isreal
6.5.4. Others
6.6. Asia Pacific
6.6.1. Japan
6.6.2. China
6.6.3. India
6.6.4. Australia
6.6.5. South Korea
6.6.6. Indonesia
6.6.7. Thailand
6.6.8. Taiwan
6.6.9. Others

7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix

8.1. Schlumberger Limited
8.2. Halliburton Company
8.3. General Electric company
8.4. Worldwide Oilfield Machine Inc.
8.5. Dril-Quip, Inc.
8.6. Trendsetter Engineering
8.7. Aker Solutions ASA
8.8. FMC Technologies, Inc
8.9. Baker Hughes Company

Companies Mentioned

  • Schlumberger Limited
  • Halliburton Company
  • General Electric company
  • Worldwide Oilfield Machine Inc.
  • Dril-Quip, Inc.
  • Trendsetter Engineering
  • Aker Solutions ASA
  • FMC Technologies, Inc
  • Baker Hughes Company