Global Choke and Kill Manifold Market 2019-2023 | 8% CAGR Projection over the Next Five Years | Technavio

Technavio has announced its latest market research report titled global choke and kill manifold market 2019-2023. (Graphic: Business Wire)

LONDON--()--The choke and kill manifold market size is expected to post a CAGR of close to 8% during 2019-2023, according to the latest market research report by Technavio. Request a free sample report

The global liquid fuel consumption is anticipated to grow at a steady rate during the forecast period. The increasing industrialization and urbanization will result in increased consumption of liquid fuel, especially in countries such as China, India, the US, Japan, and South Korea. To meet the demand for oil and gas, all the major oil and gas companies have resorted to E&P projects.

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As per Technavio, the increase in deepwater and ultra-deepwater upstream will have a positive impact on market growth over the forecast period. This research report also analyzes other important trends and market drivers that will influence market growth over 2019-2023.

Choke and Kill Manifold Market: Increase in Deepwater And Ultra-Deepwater Upstream Projects

After shallow water drilling, the oil and gas companies have shifted their focus to deepwater and ultra-deepwater resources. The extraction of oil from ultra-deepwater is expensive and challenging when compared with onshore drilling owing to the harsh weather conditions.

The rise in crude oil prices has led to an increase in drilling and production operations in offshore deepwater and ultra-deepwater drilling projects. The drilling activities at such depths require rugged equipment which can handle high pressure. This is expected to support the growth of the global choke and kill manifold market,” says a senior research analyst at Technavio

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Choke and Kill Manifold Market: Segmentation Analysis

This market research report segments the choke and kill manifold market by technology (water-borne, solvent-borne, powdered coatings, and UV-cured) and by region (the Americas, EMEA, and APAC).

North America led the market in 2018, followed by MEA and Europe, respectively. North America is expected to dominate the market throughout the period 2019-2023, owing to the growing adoption of modern oil and gas drilling equipment in economies, including the US and Canada.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The choke and kill manifold market size is expected to post a CAGR of close to 8% during 2019-2023, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com