Oil Accumulator Market to experience a healthy CAGR of 5.1%
February 18, 2020
Oil Accumulator Market Overview:
Oil Accumulator Market is likely to witness an impressive CAGR of 5.1% during the forecast period. The major factors driving the market are the digital revolution in the oil & gas industry and growing exploration and production activities in countries, such as India, China, Indonesia, Australia.
Report Overview:
This report, from Stratview Research, studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Oil Accumulator Market Segment Insights:
Bladder Segment: The growth engine
Based on the accumulator type, the market is segmented as bladder, piston, and diaphragm. The bladder segment dominated the market in 2019, and is expected to remain the largest segment during the forecasted period. Increase in investment in onshore and offshore applications are driving the growth of the segment. Bladder accumulators are quite useful in various offshore applications and they own high durability.
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https://www.stratviewresearch.com/toc/678/oil-accumulator-market.html
Dominance of: The blow out preventer
Based on the application type, the market is segmented as bop & wellhead control, offshore rig, and mud pumps. The blow out preventer & well head control segment is estimated to register the highest growth during the forecast period. The growth of the segment is attributed to the use of BOPs in both, onshore and offshore activities.
A highly/moderately/fragment consolidated Market
Some of the major players in the oil accumulator market are Nippon Accumulator Co. Ltd., Eaton Corporation, Parker Hannifin Corporation, and Bosch Rexroth AG.
Regional Hegemony of North America
North America is expected to dominate the oil accumulator market during the forecast period. The market is driven by the leading countries, such as the US and Canada, which are immensely contributing to the growth of the oil accumulator market in the North American region. On the other hand, the market is being gradually captured by the Asia-Pacific region, with China and India as the major growth engines, as the increase in maritime security activities and growth in offshore oil & gas production are improving. Also, the European market is expanding owing to improved maritime security and rise in oil & gas production, which is likely to drive the market during the forecast period.
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