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Demand for energy has increased over the years as countries seek to sustain the rate of their development activities. Increasing demand for energy is one of the major factors driving the global drilling activities and the demand for oil and gas equipment. Stringent government regulations resulting in imposition of heavy penalties on the oil and gas companies has resulted in a surge in demand for pressure control equipment and hence chokes and kills manifold systems. Surge in offshore drilling activities requiring drilling operations under high temperature and pressure conditions has further augmented the demand for pressure control equipment. Choke and kill manifolds are used to lower the pressure from wellhead and consist of a set of chokes and valves. These chokes can be fixed or adjusted. 

Segmentation of the global chokes and kill manifold market can be done on the basis of site of drilling and geography. On the basis of site of drilling choke and kill manifold market can be segmented into both onshore and offshore choke and kill manifold market. Chokes and kill manifold assembly consists of high pressure valves, pressure sensors, chokes, spool spacers, buffer tanks and flanges. These equipments are assembled on blowout preventer units and assures the movement of drilling fluids from well into buffer tanks, measures pressure in annular space of the well head, collect and distribute well fluid. 

Increasing drilling activities have augmented the demand for oil and gas pressure control equipment. Majority of the demand for such equipment arises from North America. Drilling activities in North America has increased over the years as exploration and production companies are looking for new shale gas and oil reserves. Such surges in drilling activities to explore shale gas and tar sands in North America is one of the major drivers augmenting the demand for pressure control equipments and hence chokes and kill manifolds. Demand for pressure control equipment in Europe is mainly driven by the E&P activities in the North Sea and the Commonwealth of Independent States (CIS) countries such as Russia, Azerbaijan and Kazakhstan. The Middle East is also expected to show a significant growth over the forecasted period due to the surge in drilling activities in the Saudi Arabia, Latin America and West Africa. Demand for such equipments has increased to support the oil and gas production in Angola, Nigeria, Brazil and Venezuela. Demand for choke and kill manifolds in Asia Pacific regional segment is mainly driven by the drilling activities in China.

Increasing expenditures on installation of pressure control equipments by oil field service companies and drilling contractors is one of the major drivers for the choke and kill manifold market. Moreover, the increasing offshore drilling has also augmented the demand for choke and kill manifolds. Recent plunge in the oil and gas prices could result in a decline in drilling activities all over the world. Drilling activities are expected to suffer in areas require higher expenditure for oil and gas exploration. Decline in drilling activities will directly affect the demand for oil and gas equipment and hence the choke and kill manifolds. 

Some of the major companies providing coke and kill manifolds include Cameron International Corporation, Schlumberger Limited, Quality Oil Tools, LLC and others. 

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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Choke Kill Manifold Market

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