Global
Blowout Preventer Market – Overview
The expansion in the oil and
gas sector globally is expected to create a favourable share for blowout
preventers. Reports that appraise the energy and power industry have been made
available by Market Research Future which generates reports on several industry
verticals that analyze the market growth and prospects. The market is projected
to gain an inspiring CAGR in the forecast period.
The escalated offshore
exploration activities globally have improved the demand for the blowout
preventer market. The need for efficient and safe operation in the oil and
energy sector is expected to create further scope for development of the blowout
preventer market in the upcoming period.
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Segmental
Analysis
The analysis of the segments
in the blowout preventer market is carried out on the basis of type, well type
and region.
Based on Type, the blowout
preventer market is segmented into RAM and Annular BOP.
Based on Well Type, the
blowout preventer market is segmented into Offshore and Land.
On the basis of region, the
blowout preventer market is segmented into the Middle East, North America,
Europe, Asia Pacific, South America, and Africa.
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Regional
Analysis
The regional evaluation of
the blowout preventer market is carried out on the regions such as The Middle
East, North America, Europe, Asia Pacific, South America, and Africa.
The analysis of the blowout
preventer market observes that the Middle East region is anticipated to govern
the market principally owing to the growing onshore drilling activities in the
region. Moreover, the Asia Pacific region is the other important region
reaching a high growth rate in the blowout preventer market chiefly due to the
vast scope for hydrocarbon in this region. The increasing installation of
blowout preventers in the Asia Pacific region is expected to create scope for
development in the coming years. Furthermore, increasing investment in blowout
preventers in the region is expected to raise the development rate in the
market in the upcoming forecast period.
Competitive
Analysis
The central players
functioning in the blowout preventer market globally are Weatherford
International Limited (U.S.), FMC Technologies (U.S.), Aker Solutions (Norway),
National Oil Well Verco Inc., Proserve (U.K.), Uztel Ltd. (Romania) and Cameron
International Corporation (U.S.), to name a few.
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