Pressure Control Equipment Market, 2023 by Component (Valves, Control Heads, Quick Unions, Wellhead Flanges, Christmas Trees, & Adapter Flanges), Type (High and Low), Application (Onshore & Offshore) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 11, 2019--The “Pressure Control Equipment Market by Component (Valves, Control Heads, Quick Unions, Wellhead Flanges, Christmas Trees, and Adapter Flanges), Type (High and Low), Application (Onshore and Offshore), and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The pressure control equipment market is estimated to grow from USD 5.7 billion in 2018 to USD 7.4 billion by 2023, at a CAGR of 5.6% from 2018 to 2023.
The growth of the pressure control equipment market is driven by the technological advancement in oil field equipment, increase in global investments in exploration and production (E&P), and rise in unconventional hydrocarbon production in North America. Refracturing activities in the US, along with rising activities in the offshore segment, create new opportunities for pressure control equipment companies.
The market for high pressure is estimated to grow at a higher CAGR during the forecast period. High pressure and high-temperature wells require special instruments and materials. They also require extra preventive measures and experience as they are considered volatile reservoir environments.
The market for offshore applications is estimated to grow at a higher CAGR during the forecast period. Offshore activities require advanced technology, making the offshore market a capital-intense one. The South China Sea, the West Australian Coast, and the Gulf of Thailand are the major hubs for offshore E&P activities in APAC.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Pressure Control Equipment Market, By Component
8 Pressure Control Equipment Market, By Type
9 Pressure Control Equipment Market, By Application
10 Geographic Analysis
11 Competitive Landscape
12 Company ProfilesBaker Hughes, A Ge Company Brace Tool Control Flow FHE GKD Industries Hunting Integrated Equipment IoT Group Lee SPECialties National Oilwell Varco Schlumberger The IKM Group The Weir Group TIS Manufacturing Weatherford International
For more information about this report visit https://www.researchandmarkets.com/research/cp5mvb/pressure_control?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190111005108/en/
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SOURCE: Research and Markets
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PUB: 01/11/2019 04:56 AM/DISC: 01/11/2019 04:56 AM