NEW YORK, June 15, 2021 /PRNewswire/ —
The subsea manifolds market is set to grow by USD 107.38 million during 2021-2025, accelerating at a CAGR of almost 3%. The market is driven by the growth in demand for oil and natural gas. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment to help industry leaders improve their business.
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Major Three Subsea Manifolds Market Participants:
ABB Ltd. offers measurement solutions for all stages of oil and gas production including from topside instrumentation to subsea wellhead flowmeters such as flow measurement, temperature measurement, pressure measurement, analytical measurement, level measurement, and valve automation.
Aker Solutions ASA
Aker Solutions ASA offers standardized and custom designs of subsea structures based on an extensive range of field-proven products that are suitable for any water depth, climate, and installation method. Some of these subsea structure designs include integrated template structure (ITS), deep waster manifold range of products, flow base, permanent guide base, riser base, etc.
Baker Hughes Co.
Baker Hughes Co. offers a wide range of products including cluster and template manifolds, pipeline end manifolds (PLEM), riser bases, PLET, manual or remotely operated pig launcher and receivers (PLR), in-line tees (ILT), high-integrity pipeline protection systems (HIPPS), and subsea isolation valve modules (SSIV) for operating in large-bore gas, deep-water, or long tieback distance fields.
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Subsea Manifolds Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist subsea manifolds market growth during the next five years
- Estimation of the subsea manifolds market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the subsea manifolds market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of subsea manifolds market vendors
Subsea Manifolds Market Segmentation: Application
Based on the market segmentation by application, the production segment generated maximum revenue in 2020. The growth of the market is influenced by governmental support toward offshore oil and gas production. The production segment growth will be significant over the forecast period.
Subsea Manifolds Market Segmentation: Geography
By, geography, Europe held the largest market share of 29%, and the market growth in the region is expected to be slower compared to the growth of the market in other regions. The rising number of offshore E&P projects in the North Sea will drive the subsea manifold market growth in Europe over the forecast period. Norway and the UK are the key markets for subsea manifolds in Europe.
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Along with the market data, Technavio offers customizations as per the specific needs of the companies. The following customization options are available for the subsea manifolds market report.
- Further breakdown of the market segmentation in requested regions.
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings
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