Subsea Manifolds Market Size, Share, Growth Analysis, By Type(Template Manifold, Cluster Manifold), By Application(Manufacturing, Injection) - Industry Forecast 2024-2031

Report ID: SQMIG15F2106 | Region: Global | Published Date: July, 2001
Pages: 165 | Tables: 62 | Figures: 75

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Subsea Manifolds Market size was valued at USD 5.26 billion in 2019 and is poised to grow from USD 5.73 billion in 2023 to USD 10.95 billion by 2031, growing at a CAGR of 9.15% in the forecast period (2024-2031).

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.'

Over the forecast period, it is expected that rising offshore exploration and production activities would drive the market. The 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.

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Subsea Manifolds Market Size, Share, Growth Analysis, By Type(Template Manifold, Cluster Manifold), By Application(Manufacturing, Injection) - Industry Forecast 2024-2031

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