BOP Handling Systems: Market Overview
Oil & gas drilling and production is a challenging activity, which requires meticulous planning, critical equipment and experienced professional to execute operations safely.
Blowout Preventer (BOP) is one of the critical equipment used during oil & gas drilling and production, which controls extreme bottom-hole pressures, prevents uncontrolled fluid flow and averts catastrophic disasters.
BOP handling systems are used to control the movement and installation of BOPs on the wellhead, and thus form a critical part of any oil & gas operation.BOP handling systems can lift, move, lower, transport and install BOP on drilling rigs.
BOPs are usually very heavy, weighing up to 200 tons or above, and require precise and safe handling as they cost thousands of dollars.
BOP handling systems are specifically designed depending on the BOP dimensions and weight, and sometimes involve high level of customization as per handling needs.
Hence, BOP handling systems are enormous in size and have a combination of multiple units such as cranes, carriers, elevators, and other, to safely handle a BOP.
Due to their complexities in manufacturing, transporting and handling, BOP handling systems incur heavy costs to the operator and requires meticulous maintenance.
BOP Handling Systems: Market Dynamics
The safety of oil & gas operators on crew and equipment, and efforts to avoid disasters which could lead to oil spills, revenue losses and environmental damage have enhanced the deployment of BOPs, which further elevates the demand for BOP handling systems.
Recent advancements in shale gas production and hydraulic fracturing has been driving oil & gas production activity in the U.S., Canada and Gulf of Mexico.
This has been a primary demand driver for BOP handling systems. Increased instances of unconventional oil & gas production, through horizontal drilling and improved tertiary recovery methods, and growing investments in offshore exploration has been driving the global oil & gas production in recent years.
This is further expected to boost the global demand for BOP handling systems.Constantly fluctuating crude oil prices is one of the major negative factor in the global oil & gas industry and is expected to have an adverse impact on the overall growth of oil & gas as an industry, as well as on BOP handling systems market.
In addition to that, rising geopolitical tensions between oil producing and exporting (OPEC) countries, growing crude oil supply-demand gap, rising import-export prices due to ongoing trade war between U.S. and China can have a severe impact on the overall growth of BOP handling systems market.
BOP Handling Systems Market: Regional Outlook
Recent upsurge in oil & gas production, especially shale gas production, in the U.S. is anticipated to boost the demand for BOP handling systems in the region. In addition, growing tight oil production in Canada is also projected to position North America as the dominant region in terms of demand and adoption rate for BOP handling systems.
Middle East, owing to its rich oil & gas production activity in the region, is projected to create significant growth opportunities for BOP handling systems in the coming years.
Growing oil production in African countries such as Egypt, Nigeria, Angola and Mozambique, has been attracting foreign investments in the oil & gas industry. This is expected to significantly drive the BOP handling systems market in the region.
Latin America has been witnessing an improved production activity in countries like Venezuela, Brazil, and Mexico, which is expected to boost the demand for BOP handling systems market in the coming years.
BOP Handling Systems Market: Market Participants
Some of the key market participants identified in the BOP Handling Systems market across the globe are:
- EFC Group
- Schlumberger Limited
- CMIC Ocean En-Tech Holding Co., Ltd.
- National Oilwell Varco
- James Fisher and Sons plc
- RAM Winch & Hoist
- Mile Marker Industries LLC
- Ramsey Winch
- Markey Machinery Co Inc,
- Fukushima Ltd
- Ingersoll-Rand plc
Brief Approach to Research
The research report presents a comprehensive assessment of the BOP Handling Systems 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 BOP Handling Systems market segments such as geographies, type, handling capacity and application.
The report covers exhaustive analysis on:
- BOP Handling Systems Market Segments
- BOP Handling Systems Market Dynamics
- BOP Handling Systems Market Size
- BOP Handling Systems Supply & Demand
- BOP Handling Systems Current Trends/Issues/Challenges
- BOP Handling Systems Competition & Companies involved
- BOP Handling Systems Technology
- BOP Handling Systems Value Chain
Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordics)
- Eastern Europe (Russia, Poland, CIS)
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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 BOP Handling Systems market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on BOP Handling Systems market segments and geographies.
- Detailed overview of BOP Handling Systems’ parent market
- Changing BOP Handling Systems market dynamics in the industry
- In-depth BOP Handling Systems market segmentation
- Historical, current and projected BOP Handling Systems market size in terms of volume and value
- BOP Handling Systems recent industry trends and developments
- BOP Handling Systems competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth in BOP Handling Systems market
- A neutral perspective on BOP Handling Systems market performance
- Must-have information for BOP Handling Systems market players to sustain and enhance their market footprint
BOP Handling Systems Market Segmentation
By Handling Capacity
- Up to 50 tons
- 50 – 100 tons
- 100 – 200 tons
- Above 200 tons
- Fixed Platforms
- Floating Units (FPSO, Drillship, others)
- Overhead Cranes
- Gantry Cranes
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.