Pressure Control Equipment Market Report 2023: Rising Exploration and Production of Unconventional Oil & Gas Resources Bolsters Growth

News provided by

Mar 08, 2023, 17:30 ET

DUBLIN, March 8, 2023 /PRNewswire/ -- The "Pressure Control Equipment Market by Type (Wireline Pressure Control Equipment, Coiled Tubing Pressure Control Equipment), Component, Sales Type (New Purchase, Rental, Services, Spares), Application, Pressure and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global pressure control equipment market is estimated to grow from USD 6.8 Billion in 2022 to USD 8.9 Billion by 2027; it is expected to record a CAGR of 5.4% during the forecast period. Emerging offshore opportunities and rising exploration and production of unconventional oil & gas resources, especially in North American region are the major driving factor for the pressure control equipment market.

High Pressure (Above 10,000 psi): The largest segment of the pressure control equipment market, by pressure

Based on pressure, the pressure control equipment market has been split into low pressure (below 10,000 psi), and high pressure (above 10,000 psi). High pressure (above 10,000 psi) were estimated to account for a larger share of the pressure control equipment market in 2021. Advantages like low maintenance and high power, making high-pressure control equipment ideal for such applications.

Services segment is expected to emerge as the fastest segment based on sales type

By sales type, the pressure control equipment market has been segmented into new purchase, rental, services, and spares. Services segment is expected to be the fastest segment during the forecast period due to the increased use of pressure control equipment in the drilling application.

Asia Pacific is expected to be the second-largest market during the forecast period.

Asia Pacific is expected to be the second-fastest growing market due to the advancements in drilling operations and industrial equipment and their increased deployment in the oil & gas industry are expected to drive the growth of the pressure control equipment market in Asia Pacific.

Market Dynamics

Drivers

Rising Exploration and Production of Unconventional Oil & Gas Resources
Increasing Global Oil Demand

Restraints

Decline in Capital Expenditure of Oilfield Operators and Service Providers
Introduction of Stringent Government Regulations on Upstream Activities

Opportunities

Growth in Oilfield Discoveries
Emerging Offshore Opportunities

Challenges

Transition Toward Adoption of Renewable Energy Sources

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Pressure Control Equipment Market, by Type
6.1 Introduction
6.2 Wireline Pressure Control Equipment
6.3 Coiled Tubing Pressure Control Equipment

7 Pressure Control Equipment Market, by Component
7.1 Introduction
7.2 Flow Control Valves
7.2.2 Plug Valves
7.2.3 Check Valves
7.2.4 Gate Valves
7.2.5 Globe Valves
7.2.6 Ball Valves
7.3 Flow Control Treating Iron
7.3.2 Pup Joint Treating Iron
7.3.3 Elbows Treating Iron
7.3.4 Tee Treating Iron
7.4 Flow Control Adapters & Flanges
7.5 Flow Control Surface Crossovers
7.6 Flow Control Flexible Hoses
7.7 Wellhead Equipment
7.8 Control Heads
7.9 Christmas Trees (Flow Tees)
7.10 Quick Unions
7.11 Coiled Tubing Wpce
7.12 Others

8 Pressure Control Equipment Market, by Application
8.1 Introduction
8.2 Onshore
8.3 Offshore

9 Pressure Control Equipment Market, by Sales Type
9.1 Introduction
9.2 New Purchases
9.3 Rental
9.4 Services
9.5 Spares

10 Pressure Control Equipment Market, by Pressure Type
10.1 Introduction
10.2 High Pressure (Above 10,000 Psi)
10.3 Low Pressure (Below 10,000 Psi)

11 Pressure Control Equipment Market, by Region

12 Competitive Landscape

13 Company Profiles

14 Appendix

Companies Mentioned

Allied Valve Inc.
Baker Hughes Company
Brace Tool
Control Flow
Emerson Electric Co.
FHE
Flowserve
Gkd Industries Ltd.
Hunting
Ikm Pressure Control AS
Integrated Equipment
Nov Inc.
Nxl Technologies
Slb
Sunnda Corporation
The Weir Group PLC
Tis Manufacturing
Weatherford

For more information about this report visit https://www.researchandmarkets.com/r/42mzl6

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets