Market Snapshot:
A blowout preventer is referred to as large valves attached to a stack to control seepage or to seal the passage of fluids from well. It is heavy, bulky, and designed for redundancy. Blowout preventers (BOPs) are categorized as a last resort for preventing runaway well. In light of the incidents of the recent oil spill, namely Deepwater-Horizon oil spill, and Exxon Valdez, in safety equipment exploration companies have upped their investment. Also, stringent norms implemented by hydrocarbon agencies and safety organizations aimed at developing safe operating standards with regards to the production and exploration sectors have compelled organizations to review their measures related to safety.
Highlights from Blowout Preventer (BOP) Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key Manufacturers profiled in the report are Axon (United States), Cameron International Corporation (United States), National Oilwell Varco (United States), UZTEL (Romania), B.O.P Products (United States), BOP Technologies (United States), Control Flow Inc. (United States), Fountain Petro (United States), GE Oil & Gas (United States) and MSP/DRILEX (Shanghai). Additionally, other players that are part of this comprehensive study are Parveen Industries (India) and Rongsheng Machinery (China).
Geographic Breakdown and Segment Analysis
The Global Blowout Preventer (BOP) market presents a comprehensive analysis of the Blowout Preventer (BOP) market by product type (Annular blowout preventer and Ram blowout preventer), by end-user/application (Onshore and Offshore), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Blowout Preventer (BOP) industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in the geographical region of interest.
For instance, while the holds majority of market share of the Blowout Preventer (BOP) market
Analyst at AMA have segmented the market study of Global Blowout Preventer (BOP) market by Type, Application and Region.
Blowout Preventer (BOP) Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increase Number of Onshore and Offshore Drillings Boosts the Blowout Preventer (BOP) Market
- Rising Deep and Ultra-Deepwater Drilling Projects
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Influencing Trends | - Next Generation of Blowout Preventers
- Increasing demand for crude oil and petroleum products
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Restraints | - Fluctuating Oil Price Hampers the Blowout Preventer (BOP), Market
- Clean-Up Method Associated Within Blowout Preventer (BOP) Market
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Gaps & Opportunities | - Increasing Number of Natural Gas Pipeline Projects And Crude Oil Projects Expected to Create Opportunities For The Market
- Upsurge Demand of Blowout Preventer (BOP) at Seaborne Trade between North America and Europe.
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Regulatory Insights:
“According to oil pollution act, its streamlined and strengthened EPA's ability to prevent and respond to catastrophic oil spills. EPA has published regulations for aboveground storage facilities; the Coast Guard has done so for oil tankers. The OPA also requires the development of Area Contingency Plans to prepare and plan for oil spill response on a regional scale.”
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies
Key Target Audience
Blowout Preventer (BOP) Manufacturers, Blowout Preventer (BOP) Traders, End-Use Market Participants of Different Segments of Blowout Preventer (BOP), Government and Research Organizations, R&D Institutions and Others