Global Subsea Manifolds Market 2018-2022 - Key Vendors are Aker Solutions, Baker Hughes, Drill-Quip, Schlumberger, TechnipFMC & Worldwide Oilfield Machine - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 29, 2019--The “Global Subsea Manifolds Market 2018-2022” report has been added to ResearchAndMarkets.com’s offering.
The subsea manifolds market will register a CAGR of close to 6% by 2022.
The price of crude oil plays a crucial role during the production of fuel in the market. In 2014, the sudden fall in crude oil prices impacted the offshore drilling segment as the development of an offshore site is a complex and expensive process, and the return on investment happens over a long timeframe. For a profitable offshore venture, the price of crude oil should be on the higher side to support the profitability and the return of investments of the investors. This scenario demands a large CAPEX and low-price variations. However, after this price slump crude oil price in increasing resulting in companies increasing their offshore E&P activities.
Recovery of crude oil price
The price of crude oil plays a crucial role during the production of fuel in the market. In 2014. the sudden fall in crude oil prices impacted the offshore drilling segment as the development of an offshore site is a complex and expensive process, and the return on investment happens over a long timeframe.
Increased complexity and engineering capacity
In addition, large investments are being witnessed toward improving the capacity of offshore production as onshore reserves are slowly getting exhausted and decommissioned due to complete use of the reservoir. The high CAPEX involved in establishing a complex network for increasing the capacity of the offshore field is expected to limit the growth of the subsea manifold market during the forecast period.
The subsea manifolds market is moderately fragmented with companies focusing on technological advances. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Companies MentionedAker Solutions Baker Hughes Drill-Quip Schlumberger TechnipFMC Worldwide Oilfield Machine
For more information about this report visit https://www.researchandmarkets.com/research/rhqlk2/global_subsea?w=4
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Related Topics:Oilfield Equipment and Services
INDUSTRY KEYWORD: ENERGY OIL/GAS MANUFACTURING ENGINEERING
SOURCE: Research and Markets
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PUB: 01/29/2019 07:56 AM/DISC: 01/29/2019 07:56 AM