Global
Blowout Preventer Market – Overview
The
expansion in the oil and gas sector globally is expected to create a favorable
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.
Segmental
Analysis
The
analysis of the segments in the Global
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.
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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