Worldwide Choke & Kill Manifold Market Outlook (2019-2023): Dominated by Jereh Group, National Oilwell Varco, Schlumberger, TechnipFMC, and Worldwide Oilfield Machine - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 6, 2019--The “Global Choke and Kill Manifold Market 2019-2023” report has been added to ResearchAndMarkets.com’s offering.
The choke and kill manifold market will register a CAGR of close to 8% by 2023.
Advances in pressure control systems to drive market growth
Blowout preventers (BOPS) are crucial pressure control equipment in deepwater oil rigs. Their main function is to prevent the unexpected release of oil and gas from the wellhead. A BOP is equipped with a shear ram and a safety valve that cuts into the oil and gas conductor pipe to shut off the sudden oil and gas flow and prevents explosions.
Federal regulations are being enforced to prevent such unexpected problems. These regulations require oil and gas production sites to be equipped with BOPS to eliminate the threat of unexpected explosions. Choke and kill manifolds are the main equipment used in BOPS to cut off the flow, control the pressure build-up in the reserve, and kill the well by allowing the injection of cement slurry into the well.
Rise in consumption of oil and gas
The global liquid fuel consumption is predicted to grow steadily during the forecast period. It will be driven by the increase in industrialization and urbanization in developing countries. The major oil and gas companies have resorted to E&P projects to meet the demand for oil and gas.
Fluctuations in global crude oil prices
Crude oil prices have encountered large variations over the years. The rapid decline affected the profitability of many upstream companies and impacted their revenue generation. Several oil and gas companies stopped or postponed their E&P projects as the low revenue made it difficult for them to sustain in the market.
The market appears to be fragmented, and with the presence of several companies including Schlumberger and TechnipFMC, the competitive environment is quite intense.
Key PlayersJereh Group National Oilwell Varco Schlumberger TechnipFMC Worldwide Oilfield Machine
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPEMarket ecosystem Market characteristics Market segmentation analysis
PART 04: MARKET SIZINGMarket definition Market sizing 2018 Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSISBargaining power of buyers Bargaining power of suppliers Threat of new entrants Threat of substitutes Threat of rivalry Market condition
PART 06: MARKET SEGMENTATION BY APPLICATIONMarket segmentation by application Comparison by application Onshore - Market size and forecast 2018-2023 Offshore - Market size and forecast 2018-2023 Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPEGeographic segmentation Geographic comparison North America - Market size and forecast 2018-2023 Middle East and Africa - Market size and forecast 2018-2023 Europe - Market size and forecast 2018-2023 APAC - Market size and forecast 2018-2023 South America - Market size and forecast 2018-2023 Key leading countries Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDSIncreasing investments in oil and gas upstream activities Increase in deepwater and ultra-deepwater upstream projects Advances in pressure control systems
PART 12: VENDOR LANDSCAPEOverview Landscape disruption Competitive scenario
PART 13: VENDOR ANALYSISVendors covered Vendor classification Market positioning of vendors Jereh Group National Oilwell Varco Schlumberger TechnipFMC Worldwide Oilfield Machine
For more information about this report visit https://www.researchandmarkets.com/research/288x48/worldwide_choke?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190206005485/en/
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INDUSTRY KEYWORD: ENERGY OIL/GAS
SOURCE: Research and Markets
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PUB: 02/06/2019 10:58 AM/DISC: 02/06/2019 10:57 AM