Subsea Manifolds Market Size 2018 and Industry Estimated to Rise Profitably with CAGR 4.85% by 2023

Market Highlights
Hydrocarbon discoveries are increasingly made in the deep water offshore basins around the world. To increase production and operational efficiency of deep water basins, substantial investment are made in installing subsea manifolds. The technology is predominantly applied in deep water production activities where hydrocarbon extraction is carries out in the harshest of environments. Several global oil and gas companies are looking to develop their offshore hydrocarbon reserves which is driving the market. Subsea manifolds also help in achieving better production rate and play a major role in adapting to changing operating conditions and operational flexibility.
 
Injection Manifold market is expected to dominate the subsea manifolds market from 2017-2023
The market has been analyzed based on the application type: production manifolds and injection manifolds and by regions. On the basis of the applications type, the injection manifolds type is expected to dominate the market for subsea manifolds. This segment has witnessed increasing investment over the years because of oil and gas companies are focusing on enhancing their oil recovery process. Furthermore, production manifolds are used when produced fluids are needed to be transported into flow lines.
 
Key Players:
The key players of global Subsea Manifold Markets are

• ABB (Switzerland),
• Aker Solutions ASA (Norway),
• Baker Hughes Incorporated (U.S), 
• FMC Technologies Inc. (U.S.),
• General Electric (U.S.),
• ITT Bornemann GmbH (Germany),
• OneSubsea (U.S.),
• Subsea 7 S.A. (U.K.)
• Technip S.A. (France).

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Industry News
On October 9th 2017, OneSubsea, a Schlumberger company has signed an engineering, procurement, and construction (EPC) contract with Reliance Industries for supply of the subsea production system for the R Cluster (Block KG-D6) Project, offshore the east coast of India. The scope of this project includes subsea manifolds, control system, tie-in system, multi-phase meters, intervention tooling and test equipment for the R Cluster field. Reliance has the option to award the supply of the subsea production system for additional wells for the Satellite fields.
 
Market Research Analysis
Europe region is expected to dominate the market
The Europe region is expected to dominate the subsea manifolds market because of increasing deep water hydrocarbon basins in the North Sea area. The North Sea region accounts for major share of oil and gas production of Europe. There is a stringent environmental rules for implementing new oil field operations in the North Sea region which is driving the market for subsea manifolds to enhance oil recovery from existing deep water regions. The Middle East region also accounts for a significant share of global subsea manifolds market. This is because of increasing deep water exploration activities in the region.
 
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Scope of the Report
This study provides an overview of the global subsea manifold market, tracking one market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global subsea manifold market by its application type and by regions.
By Applications Type

• Production Manifolds
• Injection Manifolds

By Regions

• North America 
• Asia Pacific 
• Europe
• Rest of the World  

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