Pressure Control Equipment Market Research Report – Forecast till 2027

Pressure Control Equipment Market, by Type (High Pressure, Low Pressure), by Component (Valves, Control Head, Wellhead Flange, Christmas Tree (Flow Tree), Adapter Flange, Quick Unions, Others), by Application (Onshore, Offshore) — Forecast till 2027

ID: MRFR/SEM/5819-HCR | February, 2021 | Region : Global

Pressure Control Equipment Market Synopsis


The pressure control equipment market was valued at USD 4.61 billion in 2017 and is expected to reach USD 6.63 billion by the end of forecast period with a CAGR of 6.45%.


The rising investment in global exploration and production and advances in well drilling technologies is creating the demand for pressure control equipment market. Pressure control equipment helps to minimize risks, enhancing safety and increasing quality during drilling.  The oil and gas industry is rapidly adopting digital transformation for risk mitigation and improved efficiency. 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 and increasing need for higher safety norms by drilling contractors are expected to be some of the major drivers for pressure control equipment market. Furthermore, 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.


The market vendors are entering into collaborations to expand their geographical presence, focusing on regions with increased onshore drilling activities. For instance, in March 2017, Schlumberger and Weatherford International, formed a joint venture called OneStim. This joint venture aims at providing products and services for unconventional resource plays for customers in the US and Canada. Also, there has been an increase in investment for advanced technologies in oil and gas equipment industry. For instance, in July 2018, SCF Ventures announced a growth equity investment in Kinetic Pressure Control, which is a designer and manufacturer of innovative wellhead and pressure control equipment.


Segmentation


By type, the pressure control equipment market is segmented into high pressure (above 10,000 PSI) and low pressure (below 10,000 PSI). By component, the pressure control equipment market is bifurcated into valves, control head, wellhead flange, christmas tree (flow tree), adapter flange, quick unions, and others. By application, the pressure control equipment market is segmented into onshore and offshore.


Regional analysis


The global market for pressure control equipment is estimated to grow at a steady 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). Among the regions mentioned, North America is expected to dominate the market. Among the North American countries, US dominates 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 market. 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. For instance, sanction has been passed for a deepwater field development in Latin America, named Liza. The final investment decision (FID) to proceed for the first phase of development was made by Exxon Mobil Corporation and Hess Corporation. Asia-Pacific region is also expected to grow at a significant rate due to high-energy consumption in China, Japan and India.


Pressure Control Equipment Market, USD Billion


Pressure Control Equipment Market


Source: MRFR Analysis


 


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 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.


Intended Audience



  • Pressure control equipment Manufacturers

  • Pressure control equipment Suppliers and Distributors

  • Drilling tool manufacturers and suppliers

  • Exploration and production companies

  • National and international drilling associations

  • Oilfield services providers

  • Raw Material Suppliers

  • Industry associations and experts

  • Research organizations and consulting companies

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.3 Research Objectives

2.4 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining Power of Buyers

4.1.3 Threat of Substitutes

4.1.4 Segment Rivalry

4.1.5 Bargaining Power of Suppliers

4.2 Value Chain/Supply Chain of Pressure Control Equipment

5 Market Landscape

5.1 Introduction

5.2 Growth Drivers

5.3 Impact Analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact Analysis

7 Pressure Control Equipment Market by Type

7.1 Introduction

7.2 High Pressure

7.2.1 Market Estimates & Forecast, 2020–2027

7.2.2 Market Estimates & Forecast by Region, 2020–2027

7.3 Low Pressure

7.3.1 Market Estimates & Forecast, 2020–2027

7.3.2 Market Estimates & Forecast by Region, 2020–2027

8 Pressure Control Equipment Market by Component

8.1 Introduction

8.2 Valves

8.2.1 Market Estimates & Forecast, 2020–2027

8.2.2 Market Estimates & Forecast by Region, 2020–2027

8.3 Control Head

8.3.1 Market Estimates & Forecast, 2020–2027

8.3.2 Market Estimates & Forecast by Region, 2020–2027

8.4 Wellhead Flange

8.4.1 Market Estimates & Forecast, 2020–2027

8.4.2 Market Estimates & Forecast by Region, 2020–2027

8.5 Christmas tree

8.5.1 Market Estimates & Forecast, 2020–2027

8.5.2 Market Estimates & Forecast by Region, 2020–2027

8.6 Adapter Flange

8.6.1 Market Estimates & Forecast, 2020–2027

8.6.2 Market Estimates & Forecast by Region, 2020–2027

8.7 Quick Unions

8.7.1 Market Estimates & Forecast, 2020–2027

8.7.2 Market Estimates & Forecast by Region, 2020–2027

8.8 Others

8.8.1 Market Estimates & Forecast, 2020–2027

8.8.2 Market Estimates & Forecast by Region, 2020–2027

9 Pressure Control Equipment Market by Application

9.1 Introduction

9.2 Onshore

9.2.1 Market Estimates & Forecast, 2020–2027

9.2.2 Market Estimates & Forecast by Region, 2020–2027

9.3 Offshore

9.3.1 Market Estimates & Forecast, 2020–2027

9.3.2 Market Estimates & Forecast by Region, 2020–2027

10 Pressure Control Equipment Market by Region

10.1 Introduction

10.2 North America

10.2.1 Market Estimates & Forecast by Country, 2020–2027

10.2.2 Market Estimates & Forecast by Type, 2020–2027

10.2.3 Market Estimates & Forecast by Component, 2020–2027

10.2.4 Market Estimates & Forecast by Application, 2020–2027

10.2.5 US

10.2.5.1 Market Estimates & Forecast by Type, 2020–2027

10.2.5.2 Market Estimates & Forecast by Component, 2020–2027

10.2.5.3 Market Estimates & Forecast by Application, 2020–2027

10.2.6 Canada

10.2.6.1 Market Estimates & Forecast by Type, 2020–2027

10.2.6.2 Market Estimates & Forecast by Component, 2020–2027

10.2.6.3 Market Estimates & Forecast by Application, 2020–2027

10.2.7 Mexico

10.2.7.1 Market Estimates & Forecast by Type, 2020–2027

10.2.7.2 Market Estimates & Forecast by Component, 2020–2027

10.2.7.3 Market Estimates & Forecast by Application, 2020–2027

10.3 Europe

10.3.1 Market Estimates & Forecast by Country, 2020–2027

10.3.2 Market Estimates & Forecast by Type, 2020–2027

10.3.3 Market Estimates & Forecast by Component, 2020–2027

10.3.4 Market Estimates & Forecast by Application, 2020–2027

10.3.5 Germany

10.3.5.1 Market Estimates & Forecast by Type, 2020–2027

10.3.5.2 Market Estimates & Forecast by Component, 2020–2027

10.3.5.3 Market Estimates & Forecast by Application, 2020–2027

10.3.6 UK

10.3.6.1 Market Estimates & Forecast by Type, 2020–2027

10.3.6.2 Market Estimates & Forecast by Component, 2020–2027

10.3.6.3 Market Estimates & Forecast by Application, 2020–2027

10.3.7 France

10.3.7.1 Market Estimates & Forecast by Type, 2020–2027

10.3.7.2 Market Estimates & Forecast by Component, 2020–2027

10.3.7.3 Market Estimates & Forecast by Application, 2020–2027

10.3.8 Rest of Europe

10.3.8.1 Market Estimates & Forecast by Type, 2020–2027

10.3.8.2 Market Estimates & Forecast by Component, 2020–2027

10.3.8.3 Market Estimates & Forecast by Application, 2020–2027

10.4 Asia-Pacific

10.4.1 Market Estimates & Forecast by Country, 2020–2027

10.4.2 Market Estimates & Forecast by Type, 2020–2027

10.4.3 Market Estimates & Forecast by Component, 2020–2027

10.4.4 Market Estimates & Forecast by Application, 2020–2027

10.4.5 China

10.4.5.1 Market Estimates & Forecast by Type, 2020–2027

10.4.5.2 Market Estimates & Forecast by Component, 2020–2027

10.4.5.3 Market Estimates & Forecast by Application, 2020–2027

10.4.6 India

10.4.6.1 Market Estimates & Forecast by Type, 2020–2027

10.4.6.2 Market Estimates & Forecast by Component, 2020–2027

10.4.6.3 Market Estimates & Forecast by Application, 2020–2027

10.4.7 Japan

10.4.7.1 Market Estimates & Forecast by Type, 2020–2027

10.4.7.2 Market Estimates & Forecast by Component, 2020–2027

10.4.7.3 Market Estimates & Forecast by Application, 2020–2027

10.4.8 Rest of Asia-Pacific

10.4.8.1 Market Estimates & Forecast by Type, 2020–2027

10.4.8.2 Market Estimates & Forecast by Component, 2020–2027

10.4.8.3 Market Estimates & Forecast by Application, 2020–2027

10.5 Rest of the World

10.5.1 Market Estimates & Forecast by Country, 2020–2027

10.5.2 Market Estimates & Forecast by Type, 2020–2027

10.5.3 Market Estimates & Forecast by Component, 2020–2027

10.5.4 Market Estimates & Forecast by Application, 2020–2027

10.5.5 Middle East & Africa

10.5.5.1 Market Estimates & Forecast by Type, 2020–2027

10.5.5.2 Market Estimates & Forecast by Component, 2020–2027

10.5.5.3 Market Estimates & Forecast by Application, 2020–2027

10.5.6 Latin America

10.5.6.1 Market Estimates & Forecast by Type, 2020–2027

10.5.6.2 Market Estimates & Forecast by Component, 2020–2027

10.5.6.3 Market Estimates & Forecast by Application, 2020–2027

11 Competitive Landscape

12 Company Profiles

12.1 Schlumberger

12.1.1 Company Overview

12.1.2 Product/Business Segment Overview

12.1.3 Financial Updates

12.1.4 Key Developments

12.1.5 SWOT Analysis

12.1.6 Key Strategy

12.2 Weatherford International

12.2.1 Company Overview

12.2.2 Product/Business Segment Overview

12.2.3 Financial Updates

12.2.4 Key Developments

12.2.5 SWOT Analysis

12.2.6 Key Strategy

12.3 Control Flow

12.3.1 Company Overview

12.3.2 Product/Business Segment Overview

12.3.3 Financial Updates

12.3.4 Key Developments

12.3.5 SWOT Analysis

12.3.6 Key Strategy

12.4 National Oilwell Varco

12.4.1 Company Overview

12.4.2 Product/Business Segment Overview

12.4.3 Financial Updates

12.4.4 Key Developments

12.4.5 SWOT Analysis

12.4.6 Key Strategy

12.5 Baker Hughes

12.5.1 Company Overview

12.5.2 Product/Business Segment Overview

12.5.3 Financial Updates

12.5.4 Key Developments

12.5.5 SWOT Analysis

12.5.6 Key Strategy

12.6 Lee Specialties

12.6.1 Company Overview

12.6.2 Product/Business Segment Overview

12.6.3 Financial Updates

12.6.4 Key Developments

12.6.5 SWOT Analysis

12.6.6 Key Strategy

12.7 The Weir Group

12.7.1 Company Overview

12.7.2 Product/Business Segment Overview

12.7.3 Financial Updates

12.7.4 Key Developments

12.7.5 SWOT Analysis

12.7.6 Key Strategy

12.8 Hunting

12.8.1 Company Overview

12.8.2 Product/Business Segment Overview

12.8.3 Financial Updates

12.8.4 Key Developments

12.8.5 SWOT Analysis

12.8.6 Key Strategy

12.9 Tis Manufacturing

12.9.1 Company Overview

12.9.2 Product/Business Segment Overview

12.9.3 Financial Updates

12.9.4 Key Developments

12.9.5 SWOT Analysis

12.9.6 Key Strategy

12.10 Brace Tool

12.10.1 Company Overview

12.10.2 Product/Business Segment Overview

12.10.3 Financial Updates

12.10.4 Key Developments

12.10.5 SWOT Analysis

12.10.6 Key Strategy

13 Conclusion


LIST OF TABLES

Table 1 Pressure Control Equipment Market, by Region, 2020–2027

Table 2 North America: Pressure Control Equipment Market, by Country, 2020–2027

Table 3 Europe: Pressure Control Equipment Market, by Country, 2020–2027

Table 4 Asia-Pacific: Pressure Control Equipment Market, by Country, 2020–2027

Table 5 Middle East & Africa: Pressure Control Equipment Market, by Country, 2020–2027

Table 6 Latin America: Pressure Control Equipment Market, by Country, 2020–2027

Table 7 Global Pressure Control Equipment Type Market, by Region, 2020–2027

Table 8 North America: Pressure Control Equipment Type Market, by Country, 2020–2027

Table 9 Europe: Pressure Control Equipment Type Market, by Country, 2020–2027

Table 10 Asia-Pacific: Pressure Control Equipment Type Market, by Country, 2020–2027

Table 11 Middle East & Africa: Pressure Control Equipment Type Market, by Country, 2020–2027

Table 12 Latin America: Pressure Control Equipment Type Market, by Country, 2020–2027

Table 13 Global Pressure Control Equipment Component Market, by Region, 2020–2027

Table 14 North America: Pressure Control Equipment Component Market, by Country, 2020–2027

Table 15 Europe: Pressure Control Equipment Component Market, by Country, 2020–2027

Table 16 Asia-Pacific: Pressure Control Equipment Component Market, by Country, 2020–2027

Table 17 Middle East & Africa: Pressure Control Equipment Component Market, by Country, 2020–2027

Table 18 Latin America: Pressure Control Equipment Component Market, by Country, 2020–2027

Table 19 Global Pressure Control Equipment Application Market, by Region, 2020–2027

Table 20 North America: Pressure Control Equipment Application Market, by Country, 2020–2027

Table 21 Europe: Pressure Control Equipment Application Market, by Country, 2020–2027

Table 22 Asia-Pacific: Pressure Control Equipment Application Market, by Country, 2020–2027

Table 23 Middle East & Africa: Pressure Control Equipment Application Market, by Country, 2020–2027

Table 24 Latin America: Pressure Control Equipment Application Market, by Country, 2020–2027


LIST OF FIGURES

FIGURE 1 Global Pressure Control Equipment Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global Pressure Control Equipment Market

FIGURE 4 Value Chain of Global Pressure Control Equipment Market

FIGURE 5 Share of Global Pressure Control Equipment Market in 2020, by Country (in %)

FIGURE 6 Global Pressure Control Equipment Market, 2020–2027

FIGURE 7 Global Pressure Control Equipment Market Size, by Type, 2020

FIGURE 8 Global Pressure Control Equipment Market Size, by Component, 2020

FIGURE 9 Global Pressure Control Equipment Market Size, by Application, 2020

Pressure Control Equipment Market