Subsea manifold systems are key equipment designed to extend life of existing fields, increase oil recovery from deepwater reservoirs, and reduce the capital and operating costs in the production fields.
Albany, NY -- (SBWIRE) -- 09/04/2015 -- With advancements in technology, oil and gas operators are progressively utilizing subsea technologies for the development of offshore hydrocarbon reserves. To explore this and many more trends further, Market Research Reports Search Engine (MRRSE) has added a new report titled '' Subsea Manifolds Market (By Application - Production, and Injection) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020 " to its repository. The report, published by Transparency Market Research, covers the present status and forthcoming opportunities and trends in the global market for subsea manifolds. The report offers detailed and precise information in the form of illustrative tables and analytical graphs. Company profiles of dominant players across the globe form a pivotal part of the study.
According to the report, the global subsea manifolds market had a total worth of US$2,540.01 and is predicted to reach US$3,716.42 million by 2020. Evaluating the market's growth prospects, the report concludes that the market will develop at a CAGR of 5.60% between 2014 and 2020.
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The subsea manifolds market has been segmented into two main categories on the premise of utilization as production and injection manifolds. The report illustrates some of the most notable drivers that boost the demand from the subsea manifolds market. A standout growth driver is the discovery of large hydrocarbon reserves in deepwater offshore areas. Investigation organizations working in these regions are presently putting resources into subsea technologies to improve the levels of production. A steep decrease in capital expenditure can be attained by introducing subsea manifolds. These instruments diminish the quantity of flow lines and umbilical needed in offshore production exercises.
In this market study, the subsea manifolds market is segmented on the basis of geography into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe held the largest market share on the basis of expenditure on subsea manifolds in 2013. The Middle East & Africa region also accounted for a major share of the global subsea manifold industry in terms of installations in 2013. The North Sea represents a significant offer of the oil and natural gas production in Europe, making the countries bordering it the biggest contributors to the Europe subsea manifolds market.
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Key organizations profiled in this report include Aker Solutions ASA, FMC Technologies, Inc., OneSubsea, and General Electric. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
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