The global market for pressure control equipment 2020 is gaining tremendous traction across the globe due to advancements taking place in the energy & power industry. On this, Market Research Future reports reveal that the global pressure control equipment market is expecting an unprecedented growth at CAGR of 6.45% during the forecast period 2018–2023. At this CAGR, the market also aims to gain a valuation of USD 6.63 billion from USD 4.61 billion that it achieved in 2017.
The leading players in the Pressure Control Equipment Market are listed from across all the significant regions are –
Weatherford International (US), Schlumberger (US), National Oilwell Varco (US), Control Flow (US), Lee Specialties (Canada), Baker Hughes (US), Hunting (US), Tis Manufacturing (UK), The Weir Group (UK), and Brace Tool (Canada).
Apart from the top key players, there are other players such as IoT Group (Australia), The IKM Group (Norway), GKD Industries (Canada), Integrated Equipment (US) contribute a foremost share in the growth of pressure control equipment market.
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Top Market Drivers & Challenges
The published report has its focus on foremost drivers with the potential to change the existing exploration and production market landscape. The technology being used in the process of well drilling is highly becoming advanced, which is letting the market influential towards growth prospects and making it expand vigorously throughout the world.
At the same time, the rising investment in global exploration and production is leading with creating the demand for pressure control equipment market. The study reveals that pressure control equipment assists in minimizing risks, enhancing safety, and increasing quality during drilling. With this, the oil and gas industry is getting benefitted by rapidly adopting digital transformation for risk mitigation and improved efficiency. All these factors are motivating the market to proliferate in the forecast period.
Furthermore, the oil and gas industry is also in the line and expected to propagate with the rising demand for hydrocarbons that serve as an essential source of global energy supply. In fact, the increasing need for higher safety norms by drilling contractors is also likely to be the foremost driver for the pressure control equipment market.
In the long run, the factor of rising activities of deep-water drilling mainly in the US is generating rewarding opportunities for the oil and gas equipment market, thus positively impacting the growth of the pressure control equipment market in the foreseeable years.
The last approach by MRFR’s experts reveals that the market vendors are actively participating in collaborations to expand their geographical resistance, with increased onshore drilling activities. In case of point, Schlumberger and Weatherford International in March 2017, formed a joint venture with a OneStim, which aimed at providing products and services for unconventional resource plays for customers in the US and Canada.
Market Segmentation: Pressure Control Equipment
The segmental analysis of the global pressure control equipment systems market has been conducted on the elements of type, component, and application.
In terms of type: High pressure (above 10,000 PSI) and low pressure (below 10,000 PSI) are the segments.
In terms of component: Valves, quick unions, wellhead flange, control head, adapter flange, Christmas tree (flow tree), and others are the segments.
In terms of application: Onshore and offshore are the segments.
Regional Outlook
The region-specific analysis of pressure control equipment market is studied for the main regions of North America, Europe, Asia-Pacific, and the rest of the world.
Among these regions, the North American region has the utmost possibilities to lead the pressure control equipment market. The North American country, such as the US, is recorded to lead the pressure control equipment market. The factors affecting the market’s growth is rising focus on shale plays and unconventional sources owing to technological innovations in the region is motivating the increase of pressure control equipment market.
The regions of the Middle East & Africa and Latin America are also simultaneously contributing a significant share of the pressure control equipment market owing to rising exploration and production (E&P) activities.
In the last, the Asia-Pacific region is also in the line of expectancy to expand at a significant rate owing to high-energy consumption in the leading countries of China, Japan, and India.
Intended Audience
- Pressure control equipment Manufacturers
- Pressure control equipment Suppliers and Distributors
- Drilling tool manufacturers and suppliers
- Exploration and production companies
- National and international drilling associations
- Oilfield services providers
- Raw Material Suppliers
- Industry associations and experts
- Research organizations and consulting companies
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain/Supply Chain Of Pressure Control Equipment
5 Market Landscape
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.1 Introduction
6.2 Growth Trends
6.3 Impact Analysis
Continued…….
LIST OF TABLES
Table 1 Pressure Control Equipment Market, By Region, 2018–2023
Table 2 North America: Pressure Control Equipment Market, By Country, 2018–2023
Table 3 Europe: Pressure Control Equipment Market, By Country, 2018–2023
Table 4 Asia-Pacific: Pressure Control Equipment Market, By Country, 2018–2023
Table 5 Middle East & Africa: Pressure Control Equipment Market, By Country, 2018–2023
Table 6 Latin America: Pressure Control Equipment Market, By Country, 2018–2023
Table 7 Global Pressure Control Equipment Type Market, By Region, 2018–2023
Table 8 North America: Pressure Control Equipment Type Market, By Country, 2018–2023
Table 9 Europe: Pressure Control Equipment Type Market, By Country, 2018–2023
Continued…..
LIST OF FIGURES
FIGURE 1 Global Pressure Control Equipment Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Pressure Control Equipment Market
FIGURE 4 Value Chain Of Global Pressure Control Equipment Market
FIGURE 5 Share Of Global Pressure Control Equipment Market In 2017, By Country (In %)
FIGURE 6 Global Pressure Control Equipment Market, 2018–2023
FIGURE 7 Global Pressure Control Equipment Market Size, By Type, 2017
FIGURE 8 Global Pressure Control Equipment Market Size, By Component, 2017
Continued….
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