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    Oil Accumulator Market Size, Share & Forecast

    Oil Accumulator Market Size, Share & Forecast
    Report code - SROG113 Delivery - 2 Weeks
    Oil Accumulator Market Size, Share, Trend, Forecast, & Industry Analysis.
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    Oil Accumulator Market is likely to witness an impressive CAGR of 5.1% during the forecast period. The major factors driving the market are the digital revolution in the oil & gas industry and growing exploration and production activities in countries, such as India, China, Indonesia, Australia.

    Oil Accumulator Market - Snapshot

    Growth

    5.1% for the next five years

    Major Accumulator Type

    Bladder

    Dominant Pressure Type

    Up to 6,000 PSI

    Major Application Type

    Bop & Wellhead Control

    Region with the highest demand

    North America

    Key Players

    Nippon Accumulator Co. Ltd., Eaton Corporation,

    Parker Hannifin Corporation, and Bosch Rexroth AG.

     

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    Oil Accumulator Market Share: By Accumulator Type

    Based on the accumulator type, the market is segmented as bladder, piston, and diaphragm. The bladder segment dominated the market in 2019, and is expected to remain the largest segment during the forecasted period. Increase in investment in onshore and offshore applications are driving the growth of the segment. Bladder accumulators are quite useful in various offshore applications and they own high durability.

    Oil Accumulator Market Share: By Application Type

    Based on the application type, the market is segmented as bop & wellhead control, offshore rig, and mud pumps. The blow out preventer & well head control segment is estimated to register the highest growth during the forecast period. The growth of the segment is attributed to the use of BOPs in both, onshore and offshore activities.

    Oil Accumulator Market Share: By Pressure Type

    Based on the pressure type, the market is segmented as above 6,000 PSI and up to 6,000 PSI. The up to 6,000 PSI segment led the market in 2019, and is expected to witness a faster growth during the forecasted period. The growth of the segment is driven by the increase in consumption of up to 6,000 psi as it is useful in multiple applications to avoid idle time during production.

    Oil Accumulator Market Share: By Region

    In terms of regions, North America is expected to dominate the oil accumulator market during the forecast period. The market is driven by the leading countries, such as the US and Canada, which are immensely contributing to the growth of the oil accumulator market in the North American region. On the other hand, the market is being gradually captured by the Asia-Pacific region, with China and India as the major growth engines, as the increase in maritime security activities and growth in offshore oil & gas production are improving. Also, the European market is expanding owing to improved maritime security and rise in oil & gas production, which is likely to drive the market during the forecast period.

    Some of the major players in the oil accumulator market are Nippon Accumulator Co. Ltd., Eaton Corporation, Parker Hannifin Corporation, and Bosch Rexroth AG.

     

    Market Scope & Segmentation

    Oil Accumulator is a device that stores energy during the drilling process in the hydraulic system. It compresses a gas bladder which is charged to a little extent with hydraulic fluids. Through this process, energy gets stored.

    Oil Accumulator is used in blowout preventers, mud pumps, and drilling rigs. It is also called a hydro-pneumatic device, which majorly handles pressure arising from fluctuations, noise reduction, leakage compensation, and pulsation damping.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Oil Accumulator Market Research Report - Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    15

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The oil accumulator market is segmented into the following categories. 

    Oil Accumulator Market Size, Share, & Forecast, by Accumulator Type:

    • Bladder (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Piston  (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Diaphragm (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Oil Accumulator Market Size, Share, & Forecast, by Application Type:

    • Bop & Wellhead Control (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Offshore Rig (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Mud Pumps (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Oil Accumulator Market Size, Share, & Forecast, by Pressure Type:

    • Above 6,000 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Up to 6,000 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Oil Accumulator Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

     

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 800 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the accumulator types by pressure type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


    General Frequently Asked Questions (FAQs)

    What is Oil Accumulator?

    Oil Accumulator is a device that stores energy during the drilling process in the hydraulic system. It compresses a gas bladder which is charged to a little extent with hydraulic fluids. Through this process, energy gets stored. Oil Accumulator is used in blowout preventers, mud pumps, and drilling rigs. It is also called a hydro-pneumatic device, which majorly handles pressure arising from fluctuations, noise reduction, leakage compensation, and pulsation damping.

    What will be the CAGR of the Oil Accumulator Market?

    Oil Accumulator Market is likely to witness an impressive CAGR of 5.1% during the forecast period. The major factors driving the market are the digital revolution in the oil & gas industry and growing exploration and production activities in countries, such as India, China, Indonesia, Australia.

    Which country/region is expected to remain the largest Oil Accumulator Market?

    In terms of regions, North America is expected to dominate the oil accumulator market during the forecast period. The market is driven by the leading countries, such as the US and Canada, which are immensely contributing to the growth of the oil accumulator market in the North American region.

    Who are the key players in the Oil Accumulator Market?

    Some of the major players in the oil accumulator market are Nippon Accumulator Co. Ltd., Eaton Corporation, Parker Hannifin Corporation, and Bosch Rexroth AG.

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