The global subsea manifolds market is examined in detail in a recent market research report published by Transparency Market Research. The report states that the market will expand at a moderate 5.6% CAGR between 2014 and 2020. As a result, the market will rise from a valuation of US$2.5 bn in 2013 to US$3.7 bn by 2020.The report is titled “Subsea Manifolds Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2020”. It presents an in-depth analysis of the key elements of the market and the impact of the critical factors driving the market, restraining its growth, and major trends on market’s overall development.
Technological advancements in the field of subsea technologies and the rising shift of major oil and gas producers from the rapidly depleting conventional onshore reserves to complex subsea reserves are major factors driving the global market for subsea manifolds. The ability of subsea manifolds to easily adapt to varying operational conditions is also a major factor driving the increased adoption of subsea manifolds across the globe. However, the factor of volatile crude oils prices is expected to hamper the overall growth of the market to a certain extent.
Nevertheless, the mounting demand for oil and gas and many related products is expected to open numerous growth avenues for the global subsea manifolds market over the report’s forecast period.The rising interest of a number of international oil and gas companies in developing offshore sites has provided a significant boost to the markets for numerous subsea technologies. Companies are increasingly exploring ways to develop subsea technologies that can suit better to the difficult working conditions commonly observed in deep-water oil exploration activities. The fact that a significant reduction in the overall capital expenditure incurred for an exploration activity can be achieved by installing subsea manifolds is also working in favor of the global subsea manifolds market.
The report segments the global subsea manifolds market on the basis of two criteria: application and geography. On the basis of application, the market has been segmented into production manifolds and injection manifolds. In the past few years, the segment of injection manifolds has witnessed increasing investments from international vendors.
On the basis of geography, the report segments the market into North America, Asia Pacific, Middle East and Africa, Latin America, and Europe. Of these, Europe led the global subsea manifolds market in 2013, majorly owing to the pressure of abiding by a template structure for keeping subsea instruments intact.
The report also presents a detailed overview of the competitive landscape of the global subsea manifolds market with the help of business profiles of some of the key companies operating in the market, market attractive analysis, and recent developments. Some of the key companies in the market, profiled in the report, are Dril-Quip Inc., Aker Solutions ASA, Baker Hu