Global Oil Accumulator Market Forecast to 2023: Digital Revolution In The Oil & Gas Industry - Rise In Deep Water Drilling

DUBLIN, Feb. 18, 2019 /PRNewswire/ -- The "Oil Accumulator Market by Type, Pressure Rating, Onshore vs Offshore, Application, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The oil accumulator market is projected to grow from an estimated USD 488.5 million in 2018 to USD 617.1 million by 2023, at a CAGR of 4.78%, from 2018 to 2023.

Digital revolution in the oil & gas industry and increased shale gas exploration & production activities are driving the market for oil accumulators across the world. Transition to renewable source of energy is likely to be a restraint for this market.

Increase in exploration and production activities in countries such as China, India, Australia, US, and Indonesia are the key factors driving the oil accumulator market, during the forecast period.

The report segments the oil accumulator market, by pressure range, into up to 6,000 psi and above 6,000 psi. The up to 6,000 psi led the oil accumulator market in 2017. The up to 6,000 psi market is mainly driven due to application of multiple units in place of a single unit to avoid idle time during production or drilling.

The global oil accumulator market, by type, has been segmented into bladder, piston, and diaphragm. The bladder segment is expected be the largest market during the forecast period. The growing demand for bladder accumulators is attributed to the increased Exploration and Production (E&P) spending and use in Blow Out Preventer (BOP) applications worldwide, which are driving the bladder accumulator market. High investment in onshore and offshore activities in emerging economies will create new revenue pockets for the oil accumulator market.

The report further segments the oil accumulator market, by application, into blow out preventer & well head control, offshore rigs, and mud pumps. The blow out preventer & well head control segment is expected to grow at the highest CAGR during the forecast period. BOPs are used in both onshore and offshore activities. North America led the BOPs & Well Head Control market because of the increase in exploration and drilling activities.

 North America is expected to dominate the oil accumulator market, during the forecast period because of massive shale deposits in the US and continuous offshore drilling activities in the Gulf of Mexico. The figure given below shows the projected market sizes of various regions with respective CAGRs for 2023. The major factor restraining the growth of the oil accumulator market is transition to renewable sources of energy.

Key Topics Covered:

1 Introduction
1.1 Objectives Of The Study
1.2 Definition
1.3 Market Scope
1.4 Years Considered For The Study
1.5 Currency
1.6 Limitation
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities In The Oil Accumulator Market, 2018-2023
4.2 Oil Accumulator Market, By Region, 2017
4.3 Oil Accumulator Market, By Application, 2018 - 2023
4.4 Oil Accumulator Market, By Type, 2018 - 2023
4.5 Oil Accumulator Market, By Pressure Rating, 2017

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Digital Revolution In The Oil & Gas Industry
5.2.1.2 Shale Gas Exploration Boom In The US
5.2.2 Restraints
5.2.2.1 Transition To Renewable Sources Of Energy:
5.2.3 Opportunities
5.2.3.1 Offshore Discoveries
5.2.4 Challenges
5.2.4.1 Oversupply Of Oil
5.3 Technological Overview
5.3.1 Depth Compensated Bottle
5.3.1.1 Introduction
5.3.1.2 Driver: Rise In Deep Water Drilling
5.3.1.3 Driver: Volumetric Efficiency Of The Technology
5.3.1.4 High Installation Cost
5.3.2 Market Players
5.4 Restraint/Challenge Composite Accumulators
5.4.1 Introduction
5.4.1.1 Driver Increase Demand For Light Weight Accumulator
5.4.2 Major Players
5.5 Condition Monitoring
5.5.1 Introduction

6 Oil Accumulator Market, By Type
6.1 Introduction
6.2 Bladder
6.3 Piston
6.4 Diaphragm

7 Oil Accumulator Market, By Pressure Rating
7.1 Introduction
7.2 Above 6,000 Psi
7.3 Up To 6,000 Psi
7.4 Insights For Above 20000 Psi

8 Oil Accumulator Market, By Onshore Vs Offshore
8.1 Introduction
8.2 Onshore
8.3 Offshore

9 Oil Accumulator Market, By Application
9.1 Introduction
9.2 Bop & Wellhead Control
9.3 Offshore Rig
9.4 Mud Pumps

10 Oil Accumulator Market, By Region

11 Competitive Landscape
11.1 Overview
11.1.1 Supplier Mapping
11.1.2 Key List Of Equipment By Pressure Category
11.2 Ranking Of Players And Industry Concentration, 2017
11.3 Competitive Scenario
11.3.1 New Product Launches
11.3.2 Investments & Expansions
11.3.3 Mergers & Acquisitions
11.3.4 Contracts & Agreements
11.3.5 Others

12 Company Profile
12.1 Benchmarking
12.2 Eaton
12.3 Parker Hannifin
12.4 Bosch
12.5 Hydac
12.6 Freudenberg
12.7 Nippon Accumulators
12.8 Technetics Group
12.9 Hannon Hydraulics
12.10 Rotec Hydraulics
12.11 Roth Hydraulics
12.12 Accumulators
12.13 Hydroll
12.14 Kocsis
12.15 Hystat
12.16 Servi Fluid

For more information about this report visit https://www.researchandmarkets.com/research/5nrkbs/global_oil?w=5

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