Blowout Preventer Market Growth Analysis | Rising number of deep and ultra deepwater drilling projects to drive growth
Trends, Drivers and Vendor Forecasts for 2021-2025
Accelerating at a CAGR of 14%, the blowout preventer market is expected to post an incremental growth of $ 972.70 mn over the next five years. AXON Pressure Products Inc., Control Flow Inc., General Electric Co., National Oilwell Varco Inc., Schlumberger Ltd., The Weir Group Plc, UZTEL SA, Weatherford International Plc, Worldwide Oilfield Machine, and Yantai Jereh Oilfield Services Group Co. Ltd. are among the key market players. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to provide growth projections and insights. In addition, our report offers a deep understanding of the key market players and their product portfolios. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects.
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Blowout Preventer Market: Market Segments and Key Trends
The Blowout preventer market is segmented by Type (Annular blowout preventer and Ram blowout preventer), Market Landscape (Onshore and Offshore), and Geography (North America, Europe, MEA, APAC, and South America). North America led the market with 42% of the market growth set to originate from this region during the forecast period. Fluctuations in oil and gas prices is one of the challenges that will need to be overcome to drive growth. This research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.
Blowout Preventer Market: Top Drivers to Boost Demand
The rising number of deep and ultra deepwater drilling projects is one of the primary factors driving the growth of the blowout preventer market. The report provides a detailed study of all the factors that are likely to boost the market. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. For additional insights on this market: Download FREE Sample Report.
Key Focus Areas in Our Reports:
- Blowout Preventer Market Split by Type
- Annular blowout preventer
- Ram blowout preventer
- Blowout Preventer Market Split by Market Landscape
- Blowout Preventer Market Split by Geography
- North America
- Europe
- MEA
- APAC
- South America
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Competitive scenario
- Vendor landscape
- Landscape disruption
Vendor Analysis
- AXON Pressure Products Inc.
- Control Flow Inc.
- General Electric Co.
- National Oilwell Varco Inc.
- Schlumberger Ltd.
- The Weir Group Plc
- UZTEL SA
- Weatherford International Plc
- Worldwide Oilfield Machine
- Yantai Jereh Oilfield Services Group Co. Ltd.
The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of 3.78%.
- What is the incremental growth of the market?
The market is expected to grow by $ 972.70 mn through 2021-2025.
- What is a key factor driving this market?
rising number of deep and ultra deepwater drilling projects will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
North America, Europe, MEA, APAC, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
42% growth will originate from North America
- Who are the leading market vendors?
The leading vendors in this market are AXON Pressure Products Inc., Control Flow Inc., General Electric Co., National Oilwell Varco Inc., Schlumberger Ltd., The Weir Group Plc, UZTEL SA, Weatherford International Plc, Worldwide Oilfield Machine, and Yantai Jereh Oilfield Services Group Co. Ltd.
- What are the market segments covered in this report?
The market is segmented by Type (Annular blowout preventer and Ram blowout preventer), Market Landscape (Onshore and Offshore), and Geography (North America, Europe, MEA, APAC, and South America)
Blowout Preventer Market | Leading Segments, Trends, Drivers and Challenges
Market Recovery and Growth Projections 2021-2025
The blowout preventer market is expected to grow by $ 972.70 mn, accelerating at a CAGR of almost 3.78% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
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Blowout Preventer Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- Market is segmented Type (Annular blowout preventer and Ram blowout preventer), Market Landscape (Onshore and Offshore), and Geography (North America, Europe, MEA, APAC, and South America).
- 42% of the market growth will originate from North America during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Blowout Preventer Market size.
Blowout Preventer Market: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- Increase in deep and ultra-deepwater drilling projects in various regions will be one of the major factors that will drive market growth.
- The oil and gas industry has one of the most visible and severe impacts on the environment, the laws regarding this industry are also stringent. These stringent laws form another significant driver for blowout preventer manufacturing companies. This is because oil majors are dependent on technology to control the abnormal pressure differences that result in a blowout, which not only affects the environment but also raises concerns regarding the safety of the crew working on a drilling rig.
- Fluctuation in oil and gas prices is a hurdle that needs to be crossed on the path to success.
Blowout Preventer Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AXON Pressure Products Inc., Control Flow Inc., General Electric Co., National Oilwell Varco Inc., Schlumberger Ltd., The Weir Group Plc, UZTEL SA, Weatherford International Plc, Worldwide Oilfield Machine, and Yantai Jereh Oilfield Services Group Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with impact analysis of government regulations.
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of almost 3.78%.
- What is the incremental growth of the market?
The market is expected to grow by $ 972.70 mn through 2021-2025.
- What is a key factor driving this market?
Rising number of deep and ultra deepwater drilling projects will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
North America, Europe, MEA, APAC, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
42% growth will originate from North America
- Who are the leading market vendors?
The leading vendors in this market are AXON Pressure Products Inc., Control Flow Inc., General Electric Co., National Oilwell Varco Inc., Schlumberger Ltd., The Weir Group Plc, UZTEL SA, Weatherford International Plc, Worldwide Oilfield Machine, and Yantai Jereh Oilfield Services Group Co. Ltd.
- What are the market segments covered in this report?
The market is segmented by Type (Annular blowout preventer and Ram blowout preventer), Market Landscape (Onshore and Offshore), and Geography (North America, Europe, MEA, APAC, and South America)
