DUBLIN--(BUSINESS WIRE)--The "Oil Accumulator Market by Type, Pressure Rating, Onshore vs Offshore, Application, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The oil accumulator is estimated to reach a market size of USD 488.5 million in 2018 and is projected to reach USD 617.1 million by 2023, at a CAGR of 4.78%, from 2018 to 2023. Increase in exploration and production activities in countries such as China, India, Australia, US, and Indonesia are the key factors driving the oil accumulator market, during the forecast period.
The report segments the oil accumulator market, by pressure range, into up to 6,000 psi and above 6,000 psi. The up to 6,000 psi led the oil accumulator market in 2017. The up to 6,000 psi market is mainly driven due to application of multiple units in place of a single unit to avoid idle time during production or drilling.
The global oil accumulator market, by type, has been segmented into bladder, piston, and diaphragm. The bladder segment is expected be the largest market during the forecast period. The growing demand for bladder accumulators is attributed to the increased Exploration and Production (E&P) spending and use in Blow Out Preventer (BOP) applications worldwide, which are driving the bladder accumulator market. High investment in onshore and offshore activities in emerging economies will create new revenue pockets for the oil accumulator market.
The report further segments the oil accumulator market, by application, into blow out preventer & well head control, offshore rigs, and mud pumps. The blow out preventer & well head control segment is expected to grow at the highest CAGR during the forecast period.
- Digital Revolution in the Oil & Gas Industry
- Shale Gas Exploration Boom in the US
- Transition to Renewable Sources of Energy
- Offshore Discoveries
- Oversupply of Oil
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Oil Accumulator Market, By Type
7 Oil Accumulator Market, By Pressure Rating
8 Oil Accumulator Market, By Onshore vs Offshore
9 Oil Accumulator Market, By Application
10 Oil Accumulator Market, By Region
11 Competitive Landscape
12 Company Profiles
- Hannon Hydraulics
- Nippon Accumulators
- Parker Hannifin
- Rotec Hydraulics
- Roth Hydraulics
- Technetics Group
For more information about this report visit https://www.researchandmarkets.com/research/hrvhrs/global_oil?w=4