DUBLIN, Apr. 22, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/t9sswc/oil_and_gas) has announced the addition of the "Oil & Gas Accumulator Market by Type (Bladder, Piston, and Diaphragm), by Application (Blowout Preventer, Offshore Rigs, and Mud Pumps), & by Region (North America, Latin America, Europe, Asia-Pacific, the Middle East, and Africa) - Global Trends & Forecast to 2019" report to their offering.
The global oil & gas accumulator market is estimated to reach $1.43 billion by 2019, growing at a projected CAGR of 9.9%, which signifies an increase in demand brought about by high growth in global exploration and production activities.
An accumulator is an energy storage device that stores potential energy through an external source, which could be either compressed inert gas or a spring, or so on. Accumulators are a crucial part of the oil & gas industry, particularly because of their applications. They are used to prevent fluid loss, cope with extreme erratic pressures and uncontrolled flow in a well, and can easily dampen vibrations and pulsations. They come in various shapes, have different applications, and are available for different pressure ranges.
The increase in drilling and exploration activities drives the global oil & gas accumulator market. Oil & gas accumulators have varied applications, mainly in BOP, mud pumps, and offshore rigs. The BOP application is expected to hold the largest market share, that is, over 50%, of the total global market share. The most commonly used accumulator types are bladder, piston, and diaphragm, with bladder accumulators expecting the highest growth. North America is the leading market for oil & gas accumulators, with the U.S. and Mexico dominating the region.
The growth in drilling activities is attributed to the constant increase in the global energy demand. Drilling activities are expected to grow alongside the global oil demand, which is expected to increase by 2020. Additional drilling activities raise the need for various equipment, such as mud pumps, BOPs, and offshore rigs. The accumulator market is driven by the demand for equipment required on rigs.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Oil & Gas Accumulators Market, By Type
8 Accumulators Market, By Application
9 Oil & Gas Accumulators Market, By Region
10 Competitive Landscape
11 Company Profiles
- Bolenz & Schafer GMBH
- Bosch Rexroth USA
- Eaton Corporation
- GE Oil & Gas
- Hannon Hydraulics, Llc.
- Hydac International GMBH
- Nippon Accumulator Co., Ltd.
- Parker Hannifin Corp.
- Tobul Accumulator Inc.
For more information visit http://www.researchandmarkets.com/research/t9sswc/oil_and_gas
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SOURCE Research and Markets