Blowout Preventer Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The blowout Preventer Market is anticipated to grow significantly over the forecast period with rising demand from both onshore and offshore projects. Additionally, Blowout preventers are heavy metal covers that prevent fuel leakage from under the ground. BOPs can be controlled remotely and prevent a blowout in the oil and gas wells. Furthermore, the key oil and gas companies emphasizing the safety of equipment and devices, BOPs, are slated to observe profound investments in the next few years. Moreover, the increased demand for lightweight and compact designs to seal on various diameters of the bottom-hole assembly (BHA) will drive the use of annular BOPs.
MARKET SCOPE
The "Global Blowout Preventer Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on global market trend analysis. The report aims to provide an overview of the blowout preventer market with detailed market segmentation by type, application, and geography. The global blowout preventer market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading blowout preventer market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global blowout preventer market is segmented by type, and application.
MARKET DYNAMICS
Drivers:
- The blowout Preventer Market is anticipated to grow significantly over the forecast period with rising demand from both onshore and offshore projects.
- The uncertainty in crude oil prices is a major restraint that might hamper the growth.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.
IMPACT OF COVID-19
The market has negatively affected the COVID-19 pandemic due to the lack of labor and supply chain disruptions. The closer manufacturing hubs led to the lack of raw materials required to produce capacitors, affecting the supply chain. The key players operating in the market launched novel products to offer innovative features and enhance their brand image. Owing to the COVID-19 Pandemic, a drastic decline in crude oil demand in 2020 was seen in response to volatile economic conditions. Decreasing crude oil and natural gas production in New Mexico could have led to a dip in the requirement for new annular and ram blowout preventers. Reportedly, the drillers had idled around 45% of U.S. oil rigs since mid-March 2020, impacting the regional market outlook. The Covid-19 impact may be witnessed in the future, with shale drilling output expected to be lower. However, a robust outlook from the U.S. EIA will encourage stakeholders. The watchdog stated that New Mexico recorded high crude oil and natural gas production in March 2021, with - 16 million BPD of output.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.
IMPACT OF COVID-19
The market has negatively affected the COVID-19 pandemic due to the lack of labor and supply chain disruptions. The closer manufacturing hubs led to the lack of raw materials required to produce capacitors, affecting the supply chain. The key players operating in the market launched novel products to offer innovative features and enhance their brand image. Owing to the COVID-19 Pandemic, a drastic decline in crude oil demand in 2020 was seen in response to volatile economic conditions. Decreasing crude oil and natural gas production in New Mexico could have led to a dip in the requirement for new annular and ram blowout preventers. Reportedly, the drillers had idled around 45% of U.S. oil rigs since mid-March 2020, impacting the regional market outlook. The Covid-19 impact may be witnessed in the future, with shale drilling output expected to be lower. However, a robust outlook from the U.S. EIA will encourage stakeholders. The watchdog stated that New Mexico recorded high crude oil and natural gas production in March 2021, with - 16 million BPD of output.
MARKET PLAYERS
The reports cover key developments in the blowout preventer market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from blowout preventer market are anticipated to lucrative growth opportunities in the future with the rising demand for blowout preventer in the global market. Below mentioned is the list of few companies engaged in the blowout preventer market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the blowout preventer market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, the key development in the past five years.
- Halliburton
- Uztel
- GE oil and gas
- Rongsheng Machinery
- OJSC NaftaGaz
- MSP/DRILEX
- Shenkai
- GCOP
- Control Flow
- National Oilwell Varco
- Fountain Petro
- Jiangsu Jinshi
- Well Control and Jiangsu Xinde
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Blowout Preventer Market - By Type
1.3.2 Blowout Preventer Market - By Application
1.3.3 Blowout Preventer Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BLOWOUT PREVENTER MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. BLOWOUT PREVENTER MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. BLOWOUT PREVENTER MARKET - GLOBAL MARKET ANALYSIS
6.1. BLOWOUT PREVENTER - GLOBAL MARKET OVERVIEW
6.2. BLOWOUT PREVENTER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. BLOWOUT PREVENTER MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. ANNULAR BLOWOUT PREVENTER
7.3.1. Overview
7.3.2. Annular Blowout Preventer Market Forecast and Analysis
7.4. RAM BLOWOUT PREVENTER
7.4.1. Overview
7.4.2. RAM Blowout Preventer Market Forecast and Analysis
8. BLOWOUT PREVENTER MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ONSHORE
8.3.1. Overview
8.3.2. Onshore Market Forecast and Analysis
8.4. OFFSHORE
8.4.1. Overview
8.4.2. Offshore Market Forecast and Analysis
9. BLOWOUT PREVENTER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Blowout Preventer Market Overview
9.1.2 North America Blowout Preventer Market Forecasts and Analysis
9.1.3 North America Blowout Preventer Market Forecasts and Analysis - By Type
9.1.4 North America Blowout Preventer Market Forecasts and Analysis - By Application
9.1.5 North America Blowout Preventer Market Forecasts and Analysis - By Countries
9.1.5.1 United States Blowout Preventer Market
9.1.5.1.1 United States Blowout Preventer Market by Type
9.1.5.1.2 United States Blowout Preventer Market by Application
9.1.5.2 Canada Blowout Preventer Market
9.1.5.2.1 Canada Blowout Preventer Market by Type
9.1.5.2.2 Canada Blowout Preventer Market by Application
9.1.5.3 Mexico Blowout Preventer Market
9.1.5.3.1 Mexico Blowout Preventer Market by Type
9.1.5.3.2 Mexico Blowout Preventer Market by Application
9.2. EUROPE
9.2.1 Europe Blowout Preventer Market Overview
9.2.2 Europe Blowout Preventer Market Forecasts and Analysis
9.2.3 Europe Blowout Preventer Market Forecasts and Analysis - By Type
9.2.4 Europe Blowout Preventer Market Forecasts and Analysis - By Application
9.2.5 Europe Blowout Preventer Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Blowout Preventer Market
9.2.5.1.1 Germany Blowout Preventer Market by Type
9.2.5.1.2 Germany Blowout Preventer Market by Application
9.2.5.2 France Blowout Preventer Market
9.2.5.2.1 France Blowout Preventer Market by Type
9.2.5.2.2 France Blowout Preventer Market by Application
9.2.5.3 Italy Blowout Preventer Market
9.2.5.3.1 Italy Blowout Preventer Market by Type
9.2.5.3.2 Italy Blowout Preventer Market by Application
9.2.5.4 United Kingdom Blowout Preventer Market
9.2.5.4.1 United Kingdom Blowout Preventer Market by Type
9.2.5.4.2 United Kingdom Blowout Preventer Market by Application
9.2.5.5 Russia Blowout Preventer Market
9.2.5.5.1 Russia Blowout Preventer Market by Type
9.2.5.5.2 Russia Blowout Preventer Market by Application
9.2.5.6 Rest of Europe Blowout Preventer Market
9.2.5.6.1 Rest of Europe Blowout Preventer Market by Type
9.2.5.6.2 Rest of Europe Blowout Preventer Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Blowout Preventer Market Overview
9.3.2 Asia-Pacific Blowout Preventer Market Forecasts and Analysis
9.3.3 Asia-Pacific Blowout Preventer Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Blowout Preventer Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Blowout Preventer Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Blowout Preventer Market
9.3.5.1.1 Australia Blowout Preventer Market by Type
9.3.5.1.2 Australia Blowout Preventer Market by Application
9.3.5.2 China Blowout Preventer Market
9.3.5.2.1 China Blowout Preventer Market by Type
9.3.5.2.2 China Blowout Preventer Market by Application
9.3.5.3 India Blowout Preventer Market
9.3.5.3.1 India Blowout Preventer Market by Type
9.3.5.3.2 India Blowout Preventer Market by Application
9.3.5.4 Japan Blowout Preventer Market
9.3.5.4.1 Japan Blowout Preventer Market by Type
9.3.5.4.2 Japan Blowout Preventer Market by Application
9.3.5.5 South Korea Blowout Preventer Market
9.3.5.5.1 South Korea Blowout Preventer Market by Type
9.3.5.5.2 South Korea Blowout Preventer Market by Application
9.3.5.6 Rest of Asia-Pacific Blowout Preventer Market
9.3.5.6.1 Rest of Asia-Pacific Blowout Preventer Market by Type
9.3.5.6.2 Rest of Asia-Pacific Blowout Preventer Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Blowout Preventer Market Overview
9.4.2 Middle East and Africa Blowout Preventer Market Forecasts and Analysis
9.4.3 Middle East and Africa Blowout Preventer Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Blowout Preventer Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Blowout Preventer Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Blowout Preventer Market
9.4.5.1.1 South Africa Blowout Preventer Market by Type
9.4.5.1.2 South Africa Blowout Preventer Market by Application
9.4.5.2 Saudi Arabia Blowout Preventer Market
9.4.5.2.1 Saudi Arabia Blowout Preventer Market by Type
9.4.5.2.2 Saudi Arabia Blowout Preventer Market by Application
9.4.5.3 U.A.E Blowout Preventer Market
9.4.5.3.1 U.A.E Blowout Preventer Market by Type
9.4.5.3.2 U.A.E Blowout Preventer Market by Application
9.4.5.4 Rest of Middle East and Africa Blowout Preventer Market
9.4.5.4.1 Rest of Middle East and Africa Blowout Preventer Market by Type
9.4.5.4.2 Rest of Middle East and Africa Blowout Preventer Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Blowout Preventer Market Overview
9.5.2 South and Central America Blowout Preventer Market Forecasts and Analysis
9.5.3 South and Central America Blowout Preventer Market Forecasts and Analysis - By Type
9.5.4 South and Central America Blowout Preventer Market Forecasts and Analysis - By Application
9.5.5 South and Central America Blowout Preventer Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Blowout Preventer Market
9.5.5.1.1 Brazil Blowout Preventer Market by Type
9.5.5.1.2 Brazil Blowout Preventer Market by Application
9.5.5.2 Argentina Blowout Preventer Market
9.5.5.2.1 Argentina Blowout Preventer Market by Type
9.5.5.2.2 Argentina Blowout Preventer Market by Application
9.5.5.3 Rest of South and Central America Blowout Preventer Market
9.5.5.3.1 Rest of South and Central America Blowout Preventer Market by Type
9.5.5.3.2 Rest of South and Central America Blowout Preventer Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. BLOWOUT PREVENTER MARKET, KEY COMPANY PROFILES
11.1. HALLIBURTON
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. UZTEL
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. GE OIL AND GAS
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. RONGSHENG MACHINERY
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. OJSC NAFTAGAZ
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MSP/DRILEX
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SHENKAI
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. GCOP
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. CONTROL FLOW
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. NATIONAL OILWELL VARCO
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
11.11. FOUNTAIN PETRO
11.11.1. Key Facts
11.11.2. Business Description
11.11.3. Products and Services
11.11.4. Financial Overview
11.11.5. SWOT Analysis
11.11.6. Key Developments
11.12. JIANGSU JINSHI
11.12.1. Key Facts
11.12.2. Business Description
11.12.3. Products and Services
11.12.4. Financial Overview
11.12.5. SWOT Analysis
11.12.6. Key Developments
11.13. WELL CONTROL AND JIANGSU XINDE
11.13.1. Key Facts
11.13.2. Business Description
11.13.3. Products and Services
11.13.4. Financial Overview
11.13.5. SWOT Analysis
11.13.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Halliburton
2. Uztel
3. GE oil and gas
4. Rongsheng Machinery
5. OJSC NaftaGaz
6. MSP/DRILEX
7. Shenkai
8. GCOP
9. Control Flow
10. National Oilwell Varco
11. Fountain Petro
12. Jiangsu Jinshi
13. Well Control and Jiangsu Xinde
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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