Accumulators are device which are used to accumulate energy in the form of potential energy. It helps in leakage compensation, thermal expansion, pulsation dampening, noise reduction, and energy conservation. It is used for both offshore and onshore drilling activities. The global oil and gas accumulator market can be segmented on the basis of type and application. On the basis of type, it is sub-segmented into piston, bladder and diaphragm. The increasing drilling and production activity is the primary reason for the bladder sub-segment to lead the type sub-segment. Additionally, the increasing use of blowout preventer is also a reason for the sub-segment to witness substantial growth. On the basis of application, it is sub-segmented into blowout preventer, offshore rigs and mud pumps. The increasing offshore and onshore drilling activity is anticipated to increase the demand for the blowout preventer during the forecast period.
The global oil and gas accumulator market is anticipated to expand at a significant CAGR of 7.0% during 2018-2027. It is projected to reach significant market size by 2027. The high efficiency of the oil and gas accumulator coupled with increasing demand for the energy is anticipated to increase the market size during the forecast period.
By region, global oil and gas accumulator market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America especially U.S and Canada are witnessing expansion of the oil industry which is anticipated to increase the demand for the oil and gas accumulator. Mexico region is witnessing rise in the drilling activity which is anticipated to increase the demand for the oil and gas accumulator in Latin America. Asia-Pacific region is the fastest developing region on the account of increasing drilling activity in the developing countries such as India , China and Malaysia.
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Rising demand for the crude oil coupled with increasing environmental concern is anticipated to boost the global oil and gas accumulator market
The demand for the crude oil is increasing continuously for commercial and industrial purpose. The increasing use of petroleum product in industries such as automobile, marine and chemical is anticipated to witness increase in demand for the oil and gas accumulator during the forecast period.
The oil spills while performing certain drilling operations is degrading the ocean biodiversity and has negative impact on sea animals. Thus, oil and gas accumulator enables better management of oil and saves the oil from spillage. Additionally, hazards caused to machine and labor while performing offshore and onshore drilling is also reduced by using the oil and gas accumulator.
The report titled “Oil and Gas Accumulator Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global mercury market in terms of market segmentation by type, by application and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global oil and gas accumulator market which includes company profiling of key companies such as Eaton Corporation, Hannon Hydraulics, Accumulators Inc., Airmo Inc., Bosch Rexroth Corporation, Bolenz & Schafer Gmbh, Hydril Pressure Control, Hydac International Gmbh, Nippon Accumulator Co. Ltd., Parker Hannifin Corporation, Pressure Technologies, Tobul Accumulator Inc.. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global oil and gas accumulator market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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