This Blowout Preventers market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Blowout Preventers market.
Blowout Preventers (BOPs) are huge sized specialized valves or mechanical devices installed on stacks to control, monitor and seal the leakage of fluids from oil and gas wells in order to prevent a blowout. Blowout preventers are heavy and bulky in design and act as a defense against the runaway oil and gas wells. Blowout preventers can be used at the offshore wells and onshore wells. Nowadays, the major oil and gas exploration companies are focussing on ensuring the safety of the devices and equipment owing to the various oil spill incidents happened at various regions of the world such as Exxon Valdez oil spill and deepwater-horizon oil spill. Blowout preventers are available in the market in various sizes, style and pressure ratings. BOPs offer a wide range of functions such as confinement of well fluid to wellbore, provide the means to add fluid to the wellbore, monitor and regulate wellbore pressure and so on. Installing blowout preventers are essential for the safety of a crew, rig and the environment.
Majorly, there are two types of blowout preventers available in the market, which includes Annular (also called as spherical) and RAM. The RAM type blowout preventers utilize a pair of steel plungers, RAM is further divided into four types namely, blind, shear, pipe and blind shear. On the other hand, annular blowout preventers are mainly utilized and designed in such a way that they can seal the space between the drill pipes and wellbore.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Rising subsea drilling activities and the necessity for effective oil and gas production propel the demand for blowout preventers systems. Growing demand for hydrocarbons accelerates the drilling activities, which in turn leads to the increasing demand for blowout preventers and drilling equipment. In order to optimize the extra expenditures and costs, efficient production of oil and gas is utmost important at the onshore and offshore fields. Growing number of safety regulations and attention towards the efficiency of the end-products play a vital role in the growth of the blowout preventers. The aforementioned reasons are expected to boost the demand for blowout preventers and thus in turn pushing the growth of the global blowout preventers market.
Global Blowout Preventers Market: Segmentation
Globally, the Blowout Preventers market can be segmented on the basis of type and location.
Global Blowout Preventers Market: Region-wise Outlook
When the region-wise segmentation of the market is considered, the blowout preventers market is mainly dominated by the regions where the extraction of oil and gas is done at a large level. Middle East & Africa holds the major market share in the market owing to the rising drilling, onshore and offshore activities in the region. Middle East & Africa is followed by the Asia Pacific region in the market in terms of number of installations of blowout preventers. Malaysia and China are estimated to be the major producers of hydrocarbons from the offshore fields. Hence, Asia Pacific can be projected as a highly attractive market for the installation of blowout preventers in the coming years. Asia Pacific is followed by North America in the global blowout preventers market.
Moreover, countries such as Gulf of Mexico, U.S. and Brazil are some of the key markets for blowout preventers owing to the reason that offshore and onshore drilling activities are done on large scale in these regions.
Global Blowout Preventers Market: Market Participants
Some of the examples of the market participants in the Blowout Preventers Market identified across the value chain include Cameron International Corporation (schlumberger limited), National Oilwell Varco, Control Flow Inc., General Electric Oil and Gas, Proserv Group Inc., UZTEL S.A., Rongsheng Machinery Manufacture Ltd., Greenes Energy Group, LLC and Rigmanufacturer, among others.
Manufactures of blowout preventers are focussing on safe operation of the equipment installed, so that there will not be any case of accidents reported from the oil fields.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.
Unique Requirements? Customize this Report
- Customize by Region, Country, Application, Product, & other segments
- Integrate our Insights with your Existing Data
- Determine the scope of the study to suit your requirements
Let FMI Help You!
- Gain Insights on Key Blowout Preventers Market Impacting Forces
- Know the Winning Strategies of Market Leaders
- Get Deep-Dive Analysis on Each Segment
- Identify the Sources that will Drive Top-Line Revenue
Based on the type, the global blowout preventers market can be segmented into;
- Annular Blowout Preventer
- RAM Blowout Preventer
Based on the location, the global blowout preventers market can be segmented into;
The report covers exhaust analysis on:
Supply & Demand
Competition & Companies involved
Regional analysis includes:
North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint.
Frequently Asked Questions
What research methodology is used to develop the Blowout Preventers Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Blowout Preventers Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Blowout Preventers Market report?
In addition to up-to-date market figures and customized of the Blowout Preventers Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.