Oil
Accumulator Market – Overview
The
demand for hydro-pneumatic equipment has increased considerably due the
recovery in the oil and gas sector. Reports that investigate the energy and
power industry have been presented by Market Research Future, which produces
reports on industry verticals that appraise the market expansion and prospects.
The market is projected to be bolstered by a 4.80 % CAGR in the forecast
period.
Opportunities
in the Oil
Accumulator Market arise from mounting demand for oil & gas
exploration and its production activities. There are now being many attempts to
minimize environmental hazards by a large amount to exploration activities,
which in turn, is positively impacting the growth of the oil accumulator
market. Thus, oil accumulators are important component when environmental
factors are taken into consideration.
An
accumulator is a pressure storage tank, which is considered to be profound in
supplying a specific amount of fluid in under pressure. The fluid further gets
unconstrained to perform a specific operation in the hydraulic system. The
fluid is then stored via an external source that can either be piston, spring,
gas, and fluid.
More
importantly, oil accumulators are used for different purposes such as noise
reduction as well as pulse dampening. Such accumulators are available in
different shapes as per the requirement and customization done for the various
purposes.
Competitive
Analysis
The
principal companies in the Oil Accumulator market are Parker Hannifin (US),
Eaton (Ireland), Roth Hydraulics (Germany), Bosch (Germany), Hydac (Germany),
Freudenberg (Germany), Hannon Hydraulics (US), Technetics Group (US), Rotec
Hydraulics (UK), Hydroll (Finland), and others.
Segmental
Analysis
The
review of the segments in the oil accumulator market has been conducted on the
basis of type, application, pressure rating, and region.
On
the basis of type, the oil accumulator market is segmented into piston,
bladder, and diaphragm. The bladder segment of the market for oil accumulator,
by type, is anticipated to be the chief market from the year 2018 to 2023.
Based
on pressure rating, the oil accumulator market is segmented into above 6000 psi
and to 6000 psi. The Up to 6000 psi segment of the oil accumulator market is
estimated to record the maximum development rate throughout the forecast
period.
On
the basis of application, the oil accumulator market is segmented into Offshore
Rig, BOP & Wellhead Control, and Mud pumps.
On
the basis of region, the oil accumulator market covers South America, Europe,
the Middle East, and Africa, Asia Pacific and North America.
Regional
Analysis
The
evaluation of the regions in the oil accumulator market includes South America,
Europe, the Middle East & Africa, Asia Pacific, and North America.
As
per the study, the North American region held the principal market portion of
the oil accumulator market in 2017. It is appraised that the Asia Pacific
region would be the fastest mounting market during the forecast period,
principally due to the intensifying investment in the oil & gas processes.
The oil accumulator market in the oil & gas industry would be largely
motivated by the progress in digital technologies like machine learning,
artificial intelligence, and data analytics in the nations such as the US and
Canada. The demand from the fields onshore & offshore in the Gulf of Mexico
is also likely to impact the oil accumulator market through the forecast
period.
Related
Reports:
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