Blowout Preventer Market –Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (Ram Blowout Preventer (Pipe Rams, Shear Rams, Blind Rams, Blind Shear Rams) & Annular Blowout Preventer), By Application (Onshore & Offshore), By Region

  • Industry : Oil and Gas
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  • Published Date : NA
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Summary

Report Description

Global Blowout Preventer Market is anticipated to grow at a steady pace during the forecast period, 2023-2028, owing to strict criteria set by security associations and hydrocarbon offices for developing safe working practises in the investigation and creation sectors. The global market for blowout preventers is expanding as a result of these advances.

The blowout preventer, or BOP, is a piece of safety equipment used in drilling and completion operations to stop the uncontrolled flow of formation fluids. Mud is pushed down the drill string during drilling to lubricate, cool, and equalize pressure in the well. Gas, oil, and saltwater fluids may kick into the well bore if the hydrostatic pressure in the well falls below the pressure in the formation. These pressured, flammable hydrocarbons may be forced up the well bore during a kick, where they may ignite and blow out the well. The well bore can be sealed off by the BOP in a number of ways to manage this flow.

Increase in Deep and Ultra-Deepwater Drilling Projects

During the projected period, an increase in deep- and ultra-deepwater drilling projects is anticipated to fuel the expansion of the worldwide blowout preventer market. Large amounts of crude oil are available through deep-water projects in places such as the North Sea and the Gulf of Mexico, which offers economies of scale. In addition, more drilling will be done as a result of recent discoveries of deepwater oil and gas resources, which will accelerate market expansion. The Liuhua 29-1 deepwater field development project in China, which entered its final stage in April 2019, was announced to have begun drilling by the Canadian business Husky Energy Inc. in April 2019. Owing to the importance given by the company drilling or production projects, the requirement for BOPs is projected to grow as the number of projects gradually rises. Companies would be closely watched in terms of how effectively they adhere to the operational criteria for new projects, in addition to the safety component of drilling activities. All drilling and production firms, which will dominate the blowout preventer market, must adhere to this.


Introduction of Next Generation of Blowout Preventers

Investments in the field of renewable energy have expanded as a result of growing environmental awareness. Renewable energy sources may now compete on price with traditional sources of energy. In other nations, renewable energy sources have also taken over as the main energy source. According to Eurostat, rules are predicted to cause the proportion of renewable energy in the gross primary energy consumption of EU member states to rise from 16% to 20% between 2015 and 2020. The demand for oil and gas in these areas has been under pressure due to the reliability of renewable energy sources. During the forecast period, domestic oil production is likely to be impacted by the introduction of strict emission requirements. The demand for blowout preventers will decrease as there are fewer exploration and drilling activity in new places.

Developing Oil and Gas Industry to Propel the Growth

Regarding the proximity of several coastal units for oil and gas exploration, there is no disagreement. In any event, specialists and academics have recently drawn attention to the underutilization of plants that grow near the water. In the years to come, it is projected that interest in the blowout preventer industry will increase as these plants become more commonplace. Moreover, the development of innovative methods for oilfield maintenance has played a significant role in generating new revenue streams in the global blowout preventer market. The project's primary financier is the Oil and Gas Technology Center (OGTC). One may count on the distributors in the global blowout preventer market to respond to this move with fresh approaches. Additionally, oil companies are looking forward to the success of the new blowout preventer innovation.


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Market Segmentation

The Global Blowout Preventer Market is divided into type and application. Based on Type, the market is divided into (Ram Blowout Preventer (Pipe Rams, Shear Rams, Blind Rams, Blind Shear Rams) & Annular Blowout Preventer).  Based on application, the market is divided into onshore & offshore.

Market Players

Major market players in the Global Blowout Preventer Market are Worldwide Oilfield Machine, Inc., Baker Hughes Company, Weatherford International plc, B.O.P Products LLC., Alberta Petroleum Industries Ltd., AXON Pressure Products, Inc., Cameron International Corporation, National Oil Well Verco Inc., Proserve, Uztel Ltd., GE Oil & Gas.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2022

Estimated Year

2023

Forecast Period

2023 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

Type

Application

Regional scope

North America, Asia-Pacific, Europe, South America, Middle East

Country scope

United States, Canada, Mexico, China, Indian, Japan, South Korea, Australia, Germany, United Kingdom, Brazil, Argentina, Saudi Arabia, South Africa, UAE, Iraq

Key companies profiled

Worldwide Oilfield Machine, Inc., Baker Hughes Company, Weatherford International plc, B.O.P Products LLC., Alberta Petroleum Industries Ltd., AXON Pressure Products, Inc., Cameron International Corporation, National Oil Well Verco Inc., Proserve, Uztel Ltd., GE Oil & Gas.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the Global Blowout Preventer Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Global Blowout Preventer Market, By Type:

    • Ram Blowout Preventer
      • Pipe Rams
      • Shear Rams
      • Blind Rams
      • Blind Shear Rams
    • Annular Blowout Preventer

·         Global Blowout Preventer Market, By Application:

    • Onshore
    • Offshore

·         Global Blowout Preventer Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  China

§  India

§  Japan

§  South Korea

§  Australia

o   Europe

§  Germany

§  United Kingdom

§  France

o   South America

§  Brazil

§  Argentina

o   Middle East

§  Saudi Arabia

§  South Africa

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Blowout Preventer Market.

Available Customizations:

With the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Blowout Preventer Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Service Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global Blowout Preventer Market

4.    Executive Summary

5.    Voice of Customers

6.    Global Blowout Preventer Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Type (Ram Blowout Preventer (Pipe Rams, Shear Rams, Blind Rams, Blind Shear Rams) & Annular Blowout Preventer)

6.2.2.    By Application (Onshore & Offshore)

6.2.3.    By Region

6.2.4.    By Company

6.3.  Market Map

7.    North America Blowout Preventer Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Type

7.2.2.    By Application

7.2.3.    By Country

7.3.  North America: Country Analysis

7.3.1.    United States Blowout Preventer Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Type

7.3.1.2.2.           By Application

7.3.2.    Canada Blowout Preventer Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Type

7.3.2.2.2.           By Application

7.3.3.    Mexico Blowout Preventer Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Type

7.3.3.2.2.           By Application

8.    Asia-Pacific Blowout Preventer Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Type

8.2.2.    By Application

8.2.3.    By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.    China Blowout Preventer Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Type

8.3.1.2.2.           By Application

8.3.2.    India Blowout Preventer Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Type

8.3.2.2.2.           By Application

8.3.3.    Japan Blowout Preventer Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Type

8.3.3.2.2.           By Function

8.3.3.2.3.           By End Use

8.3.3.2.4.           By Application

8.3.4.    South Korea Blowout Preventer Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Type

8.3.4.2.2.           By Application

8.3.5.    Australia Blowout Preventer Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Type

8.3.5.2.2.           By Application

9.    Europe Blowout Preventer Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Type

9.2.2.    By Application

9.2.3.    By Country

9.3.  Europe: Country Analysis

9.3.1.    Germany Blowout Preventer Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Type

9.3.1.2.2.           By Application

9.3.2.    United Kingdom Blowout Preventer Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Type

9.3.2.2.2.           By Application

9.3.3.    France Blowout Preventer Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Type

9.3.3.2.2.           By Application

9.3.4.    Russia Blowout Preventer Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.           By Value 

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.           By Type

9.3.4.2.2.           By Application

10. South America Blowout Preventer Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Type

10.2.2. By Application

10.2.3. By Country

10.3.             South America: Country Analysis

10.3.1. Brazil Blowout Preventer Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Type

10.3.1.2.2.         By Application

10.3.2. Argentina Blowout Preventer Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Type

10.3.2.2.2.         By Application

11. Middle East & Africa Blowout Preventer Market Outlook

11.1.             Market Size & Forecast

11.1.1. By Value

11.2.             Market Share & Forecast

11.2.1. By Type

11.2.2. By Application

11.2.3. By Country

11.3.             Middle East & Africa: Country Analysis

11.3.1. Saudi Arabia Blowout Preventer Market Outlook

11.3.1.1.     Market Size & Forecast

11.3.1.1.1.         By Value 

11.3.1.2.     Market Share & Forecast

11.3.1.2.1.         By Type

11.3.1.2.2.         By Application

11.3.2. South Africa Blowout Preventer Market Outlook

11.3.2.1.     Market Size & Forecast

11.3.2.1.1.         By Value 

11.3.2.2.     Market Share & Forecast

11.3.2.2.1.         By Type

11.3.2.2.2.         By Application

11.3.3. UAE Blowout Preventer Market Outlook

11.3.3.1.     Market Size & Forecast

11.3.3.1.1.         By Value 

11.3.3.2.     Market Share & Forecast

11.3.3.2.1.         By Type

11.3.3.2.2.         By Application

11.3.4. Nigeria Blowout Preventer Market Outlook

11.3.4.1.     Market Size & Forecast

11.3.4.1.1.         By Value 

11.3.4.2.     Market Share & Forecast

11.3.4.2.1.         By Type

11.3.4.2.2.         By Function

11.3.4.2.3.         By End Use

11.3.4.2.4.         By Application

12. Market Dynamics

12.1. Drivers

12.1.1. Technological Developments

12.1.2. Developing Oil and Gas Industry to Propel the Growth

12.2. Challenges

12.2.1. The increasing investments in renewable sources of energy 

13. Market Trends & Developments

13.1.   The introduction of next generation of blowout preventers

13.2.   The increase in deep and ultra-deepwater drilling projects

14. Company Profiles

14.1.              Worldwide Oilfield Machine, Inc.

14.1.1. Business Overview

14.1.2. Key Revenue and Financials

14.1.3. Recent Developments

14.1.4. Key Personnel

14.1.5. Key Product/Services

14.1.6. SWOT Analysis

14.2.             Baker Hughes Company  

14.2.1. Business Overview

14.2.2. Key Revenue and Financials

14.2.3. Recent Developments

14.2.4. Key Personnel

14.2.5. Key Product/Services

14.2.6. SWOT Analysis

14.3.             Weatherford International plc  

14.3.1. Business Overview

14.3.2. Key Revenue and Financials

14.3.3. Recent Developments

14.3.4. Key Personnel

14.3.5. Key Product/Services

14.3.6. SWOT Analysis

14.4.              B.O.P Products LLC.

14.4.1. Business Overview

14.4.2. Key Revenue and Financials

14.4.3. Recent Developments

14.4.4. Key Personnel

14.4.5. Key Product/Services

14.4.6. SWOT Analysis

14.5.             Alberta Petroleum Industries Ltd.

14.5.1. Business Overview

14.5.2. Key Revenue and Financials

14.5.3. Recent Developments

14.5.4. Key Personnel

14.5.5. Key Product/Services

14.5.6. SWOT Analysis

14.6.             AXON Pressure Products, Inc.

14.6.1. Business Overview

14.6.2. Key Revenue and Financials

14.6.3. Recent Developments

14.6.4. Key Personnel

14.6.5. Key Product/Services

14.6.6. SWOT Analysis

14.7.             Cameron International Corporation

14.7.1. Business Overview

14.7.2. Key Revenue and Financials

14.7.3. Recent Developments

14.7.4. Key Personnel

14.7.5. Key Product/Services

14.7.6. SWOT Analysis

14.8.             National Oil Well Verco Inc.

14.8.1. Business Overview

14.8.2. Key Revenue and Financials

14.8.3. Recent Developments

14.8.4. Key Personnel

14.8.5. Key Product/Services

14.8.6. SWOT Analysis

14.9.             GE oil & gas

14.9.1. Business Overview

14.9.2. Key Revenue and Financials

14.9.3. Recent Developments

14.9.4. Key Personnel

14.9.5. Key Product/Services

14.9.6. SWOT Analysis

14.10.          Uztel Ltd.

14.10.1.              Business Overview

14.10.2.              Key Revenue and Financials

14.10.3.              Recent Developments

14.10.4.              Key Personnel

14.10.5.              Key Product/Services

14.10.6.              SWOT Analysis

15. Strategic Recommendations

15.1.   Key focus on Middle East

15.2.   Key segment in Type

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Figures and Tables

Frequently asked questions

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Some of the major players in Blowout Preventer Market are Worldwide Oilfield Machine, Inc., Baker Hughes Company, Weatherford International plc, B.O.P Products LLC., Alberta Petroleum Industries Ltd., AXON Pressure Products, Inc., Cameron International Corporation, National Oil Well Verco Inc., Proserve, Uztel Ltd., and GE Oil & Gas.

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Blowout preventers (BOPs) simply maintain the oil well's secure seal to avoid damages and financial loss. Different BOP types have slightly different functions and may be more effective in solving some oil well issues than others.

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The dominant region in Global Blowout Preventer Market is Middle East and Africa and is expected to hold the maximum share in the market. The Middle East and Africa are expected to dominate the regional blowout preventer market globally. This is due to the expansion of the offshore exploration business and the rise of the local oil and gas industry.

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The main challenge faced by Global Blowout Preventer Market are the increasing investments in renewable sources of energy.

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Parvati Sharma

Account Manager BD
Press Release

Blowout Preventer Market is expected to Register a 8.5% CAGR through 2028

Feb, 2023

The rising number of deep and ultra-deepwater drilling projects the introduction of next generation of blowout preventers is expected to drive the Global Blowout Preventer Market.

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