Oil and Gas Accumulators Market worth $1.31 Billion by 2018
DALLAS, May 14, 2014 /PRNewswire/ --
The report "Oil and Gas Accumulator Market by Type (Bladder, Diaphragm and Piston), Application (Blowout Preventer, Mud Pumps and Offshore rigs), Geography - Global Trends & Forecast to 2018", defines and segments the global Oil and Gas Accumulators Market with an analysis and forecast of the revenue. The Oil and Gas Accumulators Market will grow from an estimated $0.78 Billion in 2013 to $1.31 Billion by 2018, with a CAGR of 10.9%.
Browse 75 market data tables with 52 figures spread through 240 pages and in-depth TOC on "Oil and Gas Accumulator Market - Global Trends & Forecast to 2018"
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North America: Largest Market for Oil and Gas Accumulators
North America is estimated to be the largest revenue-generating region for oil and gas accumulators. U.S. and Mexico will be the major countries to drive the market. The oil and gas accumulators also dominate the Latin American and Asia-Pacific markets. In the ROW, although different applications are growing, the growth rate is low due to lack of awareness about oil and gas accumulators. These regions contain prospective future Oil and Gas Accumulators Market along with some other regions in the Middle East and Europe.
Bladder Accumulator: Biggest Market by Type
The bladder accumulator is the largest oil and gas accumulator type used across the globe. Bladder accumulators have more than half of the market size as it is the most preferred offshore and blow out prevention application. The strong market share of the bladder accumulator is attributed to the high preference for this type by customers. It is further expected to continue to occupy a large market share in the future with new API regulations. Another advantage of the bladder accumulator is that it can be used for many offshore applications and has high durability compared to the other types.
Blowout Preventer: Biggest Market by Application
The application of oil and gas accumulators is growing the fastest in blowout preventer. Accumulators are used in BOP to prevent fluid loss since it has good response time so as to cope up with extreme erratic pressures and uncontrolled flow in the well. In mud pump application, the accumulator helps to prevent fluid loss, at both suction head as well as the discharge head.
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