Blowout Preventer (BOP) Market
Blowout Preventer (BOP) Market (Configuration - Annular BOP and Ram BOP; Location - Onshore and Offshore) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2014 - 2022
Press Release :
Global Blowout Preventer Market: Overview
A blowout preventer are huge valves appended to a stack to seal the entry of or control leakage of liquids from well. It is cumbersome, overwhelming, and intended for repetition. Victory preventers or BOPs are sorted if all else fails for forestalling runaway well. Considering the ongoing oil slick episodes, in particular Exxon Valdez and Deepwater-Horizon oil slick, investigation organizations have increased their interest in wellbeing hardware. Additionally stringent standards executed by security associations and hydrocarbon offices planned for creating safe working principles with respect to investigation and creation segments have constrained associations to survey their wellbeing measures. These developments are the major factors that are driving the growth of global blowout preventer market.
The report by Transparency Market Research provides a complete analysis of global blowout preventer market. The report offers insights on facets such as developments, challenges, trends, and drivers that are currently prevalent the global blowout preventer market. These insights help the players to understand the dynamics of the market and better decision so that they can have a better future in the global blowout preventer market during the duration of 2014 to 2022.
Global Blowout Preventer Market: Trends and Drivers
Developing Oil and Gas Industry to Propel the Growth
There is no conflict about the nearness of various coastal units for oil and gas investigation. In any case, researchers and specialists have of late highlighted the underutilization of seaward plants. As these plants gain ubiquity, the interest inside the blowout preventer market is anticipated to ascend in the years to follow. Moreover, improvement of exceptional measures for upkeep of oilfields has likewise assumed an essential job in creating new incomes inside the worldwide blowout preventer market. The Oil and Gas Technology Center (OGTC) is the essential funder for the undertaking. The merchants in the worldwide blowout preventer market is relied upon to react to this move with new methodologies. Besides, oil organizations are anticipating the achievement of the new innovation for blowout preventer.
Technological Developments to Boost the Market
The tough competition is also bringing innovation on the table for the players willing to excel in the global blowout preventer market. These innovations are the result of technological developments that can help the players to establish themselves in the global blowout preventer market.
Global Blowout Preventer Market: Segmentation
Annular Blowout Preventers to Dominate the Market
In configuration category, the worldwide blowout preventer market can be bifurcated into slam and annular victory preventers. Of these, smash victory preventers utilize a couple of steel uncloggers, which are reached out profoundly of the wellbore to forestall flood. The internal face and top face of rams are fixed with elastomeric components, which assist them with staying cinched with an incredible power to seal the wellbore. Smash BOPs are likewise alluded to as round victory preventers and they utilize hemispherical elastic to seal any conceivable spillage. Yearly BOPs then again utilize hemispherical rubbers to seal the wellbore. Yearly BOPs in spite of the fact that not as successful as smash BOPs, represented the predominant 68.2% of the worldwide market in 2013. Other than this, the worldwide BOP market can be bifurcated into coastal and seaward wells dependent on area. Of these, inland BOPs directed lead with a portion of 67.6% in the blowout preventer market in 2013.
Global Blowout Preventer Market: Regional Analysis
Middle East and Africa to Hold Maximum Share in the Market
Middle East and Africa is expected to dominate the regional segment of global blowout preventer market. This is because of growth of oil and gas industry in the region and development of offshore exploration. These developments are expected to help Middle East and Africa to hold 28.69% of overall share of the global blowout preventer market.
This research study analyzes the market for blowout preventer (BOP) in terms of revenue (USD Million). The BOP market has been segmented on the basis of configuration, location, and geography. The regional segment has been further divided into 16 sub-segments that comprise 11 countries which are major players in the global BOP market. For the research, 2013 has been taken as the base year while all forecasts have been given for the 2014–2022 period. Market data for all the segments has been provided at the regional as well as country-specific level for the 2013–2022 period. The report provides a broad competitive analysis of companies engaged in the BOP manufacturing and installation business.
The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the global BOP market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive industry analysis of the global BOP market with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the market structure and profitability of the global BOP market. The forces analyzed are the bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
The report provides detailed insights into the BOP business globally. There are currently numerous drivers for the ESP market. One of the most prominent drivers is the stringent norms and regulations, mandating higher investments towards oil spill avoidance and management. Apart from this, growing volume of seaborne trade is also expected to result in higher expenditures on offshore oil spill management and hence on BOP installations. Market attractiveness analysis was carried out for the BOP market on the basis of geography. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.
The BOP market was segmented on the basis of configuration (annular BOP and ram BOP) and location (onshore and offshore). The configuration of BOP systems is different for both onshore and offshore oilfields, depending on the requirements. In onshore oilfields, the complexity of surroundings is low as compared to offshore oilfields. The installation of BOP in onshore fields would be low cost and easier due to less adverse conditions unlike in offshore fields. The BOP market was analyzed across five geographies: North America, South & Central America, Europe, Asia Pacific, and Middle East & Africa. Regional data has been provided for each sub-segment of the ESP market. Key market participants in the BOP market include Cameron International Corporation, National Oilwell Varco (NOV), Control Flow Inc., GE Oil & Gas, and Uztel S.A. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
BOP Market: By Configuration
- Annular BOP
- Ram BOP
BOP Market: By Location
BOP Market: By Region
- North America
- Rest of North America
- South & Central America
- Rest of South & Central America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa