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Pressure control equipment
is a set of tools and device that are generally used to
maintain the optimal pressure levels inside a wellbore during
well intervention or workover operations. The pressure control
equipment can withstand arduous conditions which ensure safety
and quality, and minimize risks during drilling. It is used in
number of applications where the pressure needs to be measured,
monitored, and controlled. Rapid implementation of advanced
technology in oilfield equipment on the account of growing
global investment in exploration and production (E&P) is
considered to be key factors influencing the development of
pressure control equipment market.
Pressure Control Equipment Market – Notable Developments
Some of the leading players operating in the pressure control
equipment market are Schlumberger, GKD Industries, Integrated
Equipment, Brace Tool, Hunting, TIS Manufacturing, Baker Hughes,
a GE company (BHGE), National Oilwell Varco, Weatherford
International, The IKM Group, FHE USA, Control Flow, Lee
Specialties, The Weir Group, IoT Group, and others.
In February 2019, Schlumberger and Rockwell Automation, one of
the largest companies dedicated to industrial automation and
information, entered into an agreement to form a joint venture
called Sensia, the first fully-integrated provider of digital
oilfield automation solutions. Additionally, it created a JV –
OneStim with Weatherford International, PLC in March 2017 to
offer unconventional resource plays’ products and services to
their customers in the U.S. and Canada.
In September 2018, Baker Hughes, a GE company (BHGE), a key
player of pressure control equipment market, was awarded an
integrated services contract by Saudi Aramco for its Marjan
Oilfield. Under the contract’s terms the company provided
drilling services, drilling fluids engineering services, and
coiled tubing services in Marjan. BHGE also received a similar
contract from Equinor in June 2018 to support the petroleum
company’s large proportion of drilling and well construction
activities in the North Sea’s Norwegian sector.
Pressure Control Equipment Market Dynamics
Increasing demand for hydrocarbons, which serve as a key
source of global energy supply, has brought a significant
transformation in oil and industry in various regions across the
globe. Such transformation has led to advances in well drilling
technologies and adoption of a variety of equipment including
pressure control equipment which measures, monitor, and control
the fluid pressure.
Surging demand for oil and gas equipment along with the rising
need for higher safety norms by well drilling contractors is
expected to accelerate the growth of
slikline
pressure control equipment market. In addition, increasing
requirements of special instruments and materials in high
pressure and high temperature wells will possibly push the
demand for pressure control equipment.
North America to Contribute Substantial Growth to
Pressure Control Equipment Market
Leading players foresee North America as a lucrative region
for pressure control equipment market, due to increase in
deepwater drilling activities in the region. Continued focus on
unconventional sources and shale plays on the coattails of
various technological innovations and developments is
anticipated to drive the pressure control equipment market in
the developed countries of North America such as the U.S. and
Canada. Further, surge in unconventional hydrocarbon production
in the region has been envisaged to complement the future
expansion of pressure control equipment market.
While increasing capital spending by leading companies in North
America will continue to propel the market growth, factors such
as lack of expertise, failure in drilling rig activities, and
limited exposure to technologies may influence passive growth of
pressure control equipment market.
The study presents reliable qualitative and quantitative
insights into:
Pressure control equipment market segments and sub-segments
Pressure control equipment market trends and dynamics
Supply and demand chain of the pressure control equipment market
Pressure control equipment market valuation (revenue and/or
volume)
Key trends/opportunities/challenges in pressure control
equipment market
Forces defining present and estimated future state of the
competitive landscape
Technological developments in the market of pressure control
equipment, including
pressure control stack for coiled tubing
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S., Canada)
Latin America (Mexico, Brazil)
Western Europe (Germany, Italy, France, U.K., Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)Japan
Middle East and Africa (GCC Countries, S. Africa, Northern
Africa)
The vast market research data included in the study is the
result of extensive primary and secondary research activities.
Surveys, personal interviews, and inputs from industry experts
form the crux of primary research activities and data collected
from trade journals, industry databases, and reputable paid
sources form the basis of secondary research.
The pressure control equipment market report also includes a
detailed qualitative and quantitative analysis of the market,
with the help of information collected from market participants
operating across key sectors of the market value chain. A
separate analysis of macro- and micro-economic aspects,
regulations, and trends influencing the overall development of
the market is also included in the report.
Highlights of the report:
A detailed analysis of key segments of the pressure control
equipment market
Recent developments in the pressure control equipment market’s
competitive landscape
Detailed analysis of pressure control equipment market segments
up to second or third level of segmentation
Historical, current, and projected future valuation of the
pressure control equipment market in terms of revenue and/or
volume
Key business strategies adopted by influential pressure control
equipment market vendors
Outline of the regulatory framework surrounding and governing
numerous aspects of the pressure control equipment market
Growth opportunities in emerging and established pressure
control equipment markets
Recommendations to pressure control equipment market players to
stay ahead of the competition.
Pressure Control Equipment Market Segmentation
On the basis of type, the pressure control equipment market can
be segmented into:
Low Pressure (Below 10,000 PSI)
High Pressure (Above 10,000 PSI)
On the basis of application, the pressure control equipment
market can be segmented into:
Onshore
Offshore
On the basis of component, the pressure control equipment market
can be segmented into:
Valves
Wellhead Flange
Adapter Flange
Control Head
Christmas Tree (Flow Tree)
Quick Unions
Others