What is the global market size of Subsea Manifolds Market?

Subsea Manifolds Market size was valued at USD 5.26 billion in 2021 and is poised to grow from USD 5.73 billion in 2022 to USD 10.95 billion by 2030, growing at a CAGR of 9.15% in the forecast period (2023-2030).

Who are the key vendors in the Global Subsea Manifolds Market?

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. 'Aker Solutions', 'Baker Hughes Company', 'TechnipFMC', 'Saipem', 'Subsea 7', 'GE Oil & Gas', 'OneSubsea', 'National Oilwell Varco', 'Cameron International', 'Oceaneering International', 'Dril-Quip Inc.', 'FMC Technologies', 'Siemens Energy', 'Schlumberger Limited', 'NOV Flexibles', 'Emerson Electric Company', 'Prysmian Group', 'Nexans', 'JDR Cable Systems', 'C-Innovation.'.

Top Subsea Manifolds Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Subsea Manifolds Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Subsea Manifolds industry players.

Subsea Manifolds Market Competitive Landscape

Top Players in Subsea Manifolds Market

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 Market Report Snapshots

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FAQs

Subsea Manifolds Market size was valued at USD 5.19 Billion in 2023 and is poised to grow from USD 5.52 Billion in 2024 to USD 8.98 Billion by 2032, growing at a CAGR of 6.29% during the forecast period (2025-2032).

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. '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)'

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.

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.

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.

Top Subsea Manifolds Companies

Subsea Manifolds Market Competitive Landscape

Top Players in Subsea Manifolds Market

Subsea Manifolds Market Recent Development

Subsea Manifolds Market Report Snapshots

FAQs

What is the global market size of Subsea Manifolds Market?

Who are the key vendors in the Subsea Manifolds Market?

What is the key driver of Subsea Manifolds Market?

What is the key market trend for Subsea Manifolds Market?

Which region accounted for the largest share in Subsea Manifolds Market?

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