USD 5.26 billion
Subsea Manifolds Market Size, Share, Growth Analysis, By Type (Template, Cluster), By Application (Manufacturing, Injection), By Water Depth (Shallow Water, Deep Water), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15F2106 |
Region:
Global |
Published Date: November, 2024
Pages:
165
|Tables:
62
|Figures:
75
Subsea Manifolds Market Insights
Global Subsea Manifold Market size was valued at USD 4.9 billion in 2022 and is poised to grow from USD 5.19 billion in 2023 to USD 8.45 billion by 2031, growing at a CAGR of 6.29% during the forecast period (2024-2031).
In deep sea oil production operations, manifolds connect systems, which are fundamental pieces of infrastructure. In order to reach floaters, platforms, and other facilities, subsea infrastructures need manifolds to link wells to pipelines and risers. The use of manifolds is for regulating the distribution of injected water, gas, and chemicals as well as combining the flow from the multi-well template and transferring the flow to production flowlines.
Subsea manifolds provided by any field that is actively producing oil from subsea beds. In order to develop oil fields while reducing the need for subsea pipes and risers, manifolds are among the most economical and operationally effective technologies available. 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.
The market for subsea manifolds is driven by factors like the rise in offshore oil discoveries, the number of multi-well templates in subsea beds, and the challenging geology drilling in offshore basins. Out of the ten new oil discoveries that were made in 2019, five discoveries took place in deep water. Subaerial terrain is more abrasive than terrestrial terrain. Therefore, it calls for a superior infrastructure. The different subsea manifold types, such as template manifold, cluster manifold, and pipeline end manifold, are made to endure extreme and deep conditions. The market for subsea manifolds is being negatively impacted by the lower price of crude oil.
Due to ongoing developments in the oil sector and an increase in offshore project activity, the subsea manifold industry is predicted to experience a sharp rise in technological advancements over the forecast period. Furthermore, due to the focus on offshore field development infrastructure, major players are expected to engage in significant market expansion activities.
US Subsea Manifolds Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Template Manifold
Fastest Growth
Template Manifold
Growth Rate
9.15% CAGR
Global Subsea Manifolds Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Subsea Manifolds Market Segmental Analysis
Global Subsea Manifold Market is segmented by Type, application, Water Depth and region. Based on Type the market is segmented Template, Cluster, and Pipeline End Manifold. Based on application, the market is segmented into Manufacturing and Injection. Based on Water Depth, the market is segmented into Shallow Water and Deep Water. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Subsea Manifolds Market Analysis Based on Application
E&P businesses employ subsea manifolds for production in a number of ways, such as well testing, allocation management, sampling, and isolation. These kinds of systems are subsea structures made up of pipes and valves that are created and developed in a way that allows the produced resources from wells to be mixed and directed into several flow lines.
The subsea production manifolds' adaptable design permits the distribution of gas lift from many wells simultaneously as well as the establishment of flow line connections by the operators. These systems can be used to connect flow lines in either a vertical or horizontal direction. The advantages and characteristics of the vertical flow line connections include their compact structural design, direct attachment to the preferred foundation, adjustable using retrievable or internal pigging loops for round-trip pigging, and simple jumper installation.
The horizontal flow line connections made using production manifold systems have a number of advantages, such as a decreased risk of snagging when working in shallow waters, improved protection against dropped objects, smooth fluid flow because self-draining is facilitated, and an integrated guidance system to enable precise connections.
An intricate system of pipes and valves called a subsea injection manifold is used to inject fluids into a number of wells. These injection manifolds can be modified to accommodate and inject a variety of fracturing fluids, including water-alternating-gas, foam-based fluids, synthetic-based fluids, oil-based fluids, water, and gas. These manifolds have a very adaptable design that enables them to perform operations on various types of seafloor soil. They can also connect to well reservoirs horizontally or vertically.
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Subsea Manifolds Market Regional Insights
North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa make up the subsea manifolds market segments. By making significant investments in deepwater production in the Gulf of Mexico, North America is bolstering offshore output. The subsea manifolds market in North America is expected to grow quickly because of favourable government policies, rising offshore investment, and expanding offshore exploration and production.
In Latin America, where countries like Argentina, Chile, Brazil, and others are investing heavily in offshore exploration and production, the market for subsea manifolds is predicted to rise quickly. The development of drilling technologies and rising offshore production in the North Sea are the two main factors driving the European subsea manifolds industry. Russia is always working to boost its output of unconventional gas while also preparing for the rise of hydraulic fracturing. These elements are boosting the subsea manifolds industry in Europe. As China is the leading country making considerable investments in order to increase offshore production, the subsea manifolds market in the Asia Pacific region is predicted to expand at a stable rate.
Global Subsea Manifolds Market By Region
- Largest
- Fastest
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Subsea Manifolds Market Dynamics
Subsea Manifolds Market Driver
Rise in offshore exploration and production activities to boost the market growth
- Over the forecast period, it is expected that rising offshore exploration and production activities would drive the market. The global market for subsea manifolds may, however, be constrained by high servicing costs.
- The market for subsea manifolds is also expected to benefit from increased technical improvements in drilling operations to fulfil the demand for oil and gas over the forecast period.
Subsea Manifolds Market Restraint
Geographical challenges to confine the market growth
- 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.
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Subsea Manifolds Market Competitive Landscape
There aren't many new, significant participants in the market. The market is very competitive and moderately concentrated. Schlumberger Limited, Baker Hughes Incorporated, Weatherford International Inc., and Trendsetter Engineering are important participants.
Subsea Manifolds Market Top Player's Company Profiles
- ABB (Switzerland)
- Aker Solutions (Norway)
- Baker Hughes Company (USA)
- TechnipFMC (USA/UK)
- Saipem (Italy)
- Subsea 7 (UK/Norway)
- OneSubsea (USA)
- National Oilwell Varco (USA)
- Oceaneering International (USA)
- Dril-Quip Inc. (USA)
- Siemens Energy (Germany)
- Schlumberger Limited (USA)
- NOV Flexibles (USA)
- Emerson Electric Company (USA)
- Prysmian Group (Italy)
- Nexans (France)
- JDR Cable Systems (UK)
- Jotne Group (Norway)
- Weatherford (USA)
- Halliburton Company (USA)
Subsea Manifolds Market Recent Development
- In March 2021, For the Greater Tortue Ahmeyim project, British Petroleum hired McDermott International and Baker Hughes, a GE Company. Both businesses are accountable for providing the undersea umbilicals, risers, and flowlines (SURF) and subsea production system equipment under the conditions of the contract. Five large-bore deepwater horizontal Xmas trees (DHXTs), a six-slot dual-bore manifold, a pipeline end manifold, a subsea distribution unit, etc. will all be provided by Baker Hughes.
- In April 2021, Subsea 7 and L&T were given an EPCI contract by Saudi Aramco to work at the oil fields in Zuluf and Berri. Under the terms of the contract, subsea pipelines and oil production deck manifolds will be delivered to the Zuluf field.
Subsea Manifolds Key Market Trends
- Rise in Offshore Exploration Activities: The demand is growing owing to the increase in offshore exploration activities for oil and gas production. As exploration shifts towards deeper waters and challenging environments, the need for subsea manifolds facilitates a better flow control and the distribution of fluids become essential.
- Technological Advances: Technological advancements are likely to play a significant role in the evolution of subsea manifolds. Integration of digital technologies such as real-time monitoring and predictive maintenance has gained a huge traction that enables proactive maintenance and subsea downtime.
Subsea Manifolds Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by the robust Secondary Desk research. According to the subsea manifolds market report analysis, the Increasing cluster manifold dominated the global Subsea Manifolds Market in 2022 and is expected to maintain its dominance throughout the forecast period. In 2022, North America dominated the global Subsea Manifolds Market owing to the region's highly aware and economically stable population.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.9 billion |
| Market size value in 2031 | USD 8.45 billion |
| Growth Rate | 6.29% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Subsea Manifolds Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Subsea Manifolds Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Subsea Manifolds Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Subsea Manifolds Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Subsea Manifolds Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Subsea Manifolds Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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