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Oil and Gas Accumulator Market by End-user and Geography - Forecast and Analysis 2020-2024

  • Published: Jun 2020
  • Pages: 120
  • SKU: IRTNTR43948
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The oil and gas accumulator market size has the potential to grow by USD 146.26 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by end-user (onshore and offshore) and geography (North America, Europe, APAC, MEA, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Accumulators Inc., Robert Bosch GmbH, Eaton Corporation Plc, EnPro Industries Inc., Freudenberg SE, General Electric Co., HYDAC Verwaltung GmbH, Nippon Accumulator Co. Ltd., Parker Hannifin Corp., and Schlumberger Ltd.

Market Overview

Oil and Gas Accumulator Market Size

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Market Competitive Analysis

The market is concentrated with local and regional vendors who are increasingly focusing on providing valves with a high level of customization at a comparatively lower price in comparison to international vendors. They are also providing hydraulic systems like cylinders, accumulator pumps, and accumulators. Accumulators Inc., Robert Bosch GmbH, and Eaton Corporation Plc are some of the major market participants. Although the increase in oil rig count will offer immense growth opportunities, the uncertainties associated with low crude oil prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this oil and gas accumulator market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this oil and gas accumulator market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Accumulators Inc.
  • Robert Bosch GmbH
  • Eaton Corporation Plc 
  • EnPro Industries Inc.
  • Freudenberg SE
  • General Electric Co.
  • HYDAC Verwaltung GmbH
  • Nippon Accumulator Co. Ltd.
  • Parker Hannifin Corp.
  • Schlumberger Ltd.

Oil and Gas Accumulator Market: Segmentation by Geography

Oil and Gas Accumulator Market Market segmentation by region

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North America was the largest oil and gas accumulator market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as rising production and drilling activities in unconventional sources of energy will significantly drive oil and gas accumulator market growth in this region over the forecast period.

32% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for oil and gas accumulators in North America. Market growth in this region will be slower than the growth of the market in APAC, MEA, and South America.

Oil and Gas Accumulator Market: Segmentation by End-user

Oil and Gas Accumulator Market Segmentation

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The rise in drilling and production activities drives the need for blowout preventers (BOPs) and accumulators. The drilling and production projects that were at halt are slowly resuming due to the gradual stabilization of crude oil prices, which in turn, will boost the adoption of oil and gas accumulators.

Market growth in this segment will be slower than the growth of the market in the offshore segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the oil and gas accumulator market size.

Oil and Gas Accumulator Market: Key Drivers and Trends

The rise in exploration and drilling activities has resulted in increased oil spills, which in turn, has a negative impact on the aquatic as well as human life. As a result, international environmental bodies such as the US environmental protection agency (EPA) have introduced strict restrictions on the drilling and production companies to counter the effects of oil spills. The increase in environmental risks and strict government regulations will be one of the major factors that will have a positive impact on the growth of the market. These risks are also creating awareness about the environmental impact of oil spills and accidents by introducing initiatives such as the Paris climate agreement. As a result, various drilling and production companies are installing quality BOP systems, to maintain the pressure balance in the wellbore. This will boost the installation of pressure accumulators. The oil and gas accumulator market will register a CAGR of almost 3% during the forecast period.

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Oil and Gas Accumulator Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive oil and gas accumulator market growth during the next five years
  • Precise estimation of the oil and gas accumulator market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the oil and gas accumulator market industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of oil and gas accumulator market vendors

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Executive Summary

  • Market overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End user
  • Onshore - Market size and forecast 2019-2024
  • Offshore - Market size and forecast 2019-2024
  • Market opportunity by End user

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Accumulators Inc.
  • Robert Bosch GmbH
  • Eaton Corporation Plc 
  • EnPro Industries Inc.
  • Freudenberg SE
  • General Electric Co.
  • HYDAC Verwaltung GmbH
  • Nippon Accumulator Co. Ltd.
  • Parker Hannifin Corp.
  • Schlumberger Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Oil and Gas Accumulator market growth will increase by $146.26 million during 2019-2024.
The oil and gas accumulator market is expected to grow at a CAGR of 2.98% during 2019-2024.
Technavio has segmented the oil and gas accumulator market by end user (Onshore and Offshore) and geographic (North America, Europe, APAC, MEA, and South America).
Accumulators Inc., Robert Bosch GmbH, Eaton Corporation Plc , EnPro Industries Inc., Freudenberg SE, General Electric Co., HYDAC Verwaltung GmbH, Nippon Accumulator Co. Ltd., Parker Hannifin Corp., Schlumberger Ltd. are a few of the key vendors in the oil and gas accumulator market.
North America will register the highest growth rate of 32.02% among the other regions. Therefore, the oil and gas accumulator market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • Russian Federation
  • Canada
  • India
  • Saudi Arabia
The key factors driving the oil and gas accumulator market growth are:
  • Increase in oil rig count
  • IoT in accumulators
The oil and gas accumulator market vendors should focus on grabbing business opportunities from the onshore segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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