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
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.
Industry
Updates:
April 2019 Diamond Offshore
Drilling has commenced the offshore drilling industry's first cybernetic
blowout preventer (BOP) service for endlessly assessing BOP status. Standing-in
as the virtual twin of a BOP system on a drilling vessel, Diamond's Sim-Stack
system duplicates the BOP electrically and hydraulically to evaluate its
complete health and regulatory compliance. Diamond Offshore has also executed
the novel service across all eight BOP systems on its four dynamically situated
drillships operational in the Gulf of Mexico. In the approaching months, the
company strategizes to expand the service to other rigs in its global fleet.
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