5K Display Resolution Industry with Highest growth in the near future by leading key players
Market
Highlights
Rise in investment for global exploration
and production activities along with technological advances in well drilling
equipment is creating the demand for Pressure
Control Equipment Industry.
Pressure control equipment enhances safety improves efficiency during drilling.
Growing demand for safety norms for oil and gas industry is also an important
factor for the growth of pressure control equipment market. The oil and gas
industry is expected to grow with the rising demand of hydrocarbons, which
serve as an important source of global energy supply is the major driver for
boosting up the demand for pressure control equipment market.
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Key players
The key players in the
pressure control equipment market are identified across all the major regions
based on their country of origin, presence across different regions, recent key
developments, product diversification, and industry expertise. Some of them are
– Schlumberger (US), Weatherford International (US), Control Flow (US),
National Oilwell Varco (US), Baker Hughes (US), Lee Specialties (Canada), The
Weir Group (UK), Hunting (US), Tis Manufacturing (UK), and Brace Tool (Canada).
These players contribute a major share in the growth of pressure control
equipment market.
Apart from the top key players, there are
other players that contribute to the market growth. These include Integrated
Equipment (US), The IKM Group (Norway), GKD Industries (Canada), IoT Group
(Australia), and others.
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Regional
Analysis
The pressure control equipment market is
estimated to grow at a significant rate during the forecast period from 2018 to
2023. The geographical analysis of pressure control equipment market is studied
for North America, Europe, Asia-Pacific, and the rest of the world (including
the Middle East, Africa, and Latin America). North America is the largest
revenue generating segment and is expected to continue its dominance during the
forecast period. Rising activities of deepwater drilling in US is creating
lucrative opportunities for oil and gas equipment market, thus positively
impacting the growth of pressure control equipment market. Among the North
American countries, US dominates pressure control equipment market. A number of
factors such as increasing focus on shale plays and unconventional sources due
to technological innovations in the region is driving the growth of pressure
control equipment market. US and Australia have a large presence of huge
onshore shale reserves which is likely to boost the demand for pressure control
equipment for onshore oil fields. Other regions such as Middle East &
Africa and Latin America also contribute to a significant share of the pressure
control equipment market due to rising exploration and production (E&P)
activities.
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