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Market Leaders : Oil Accumulators Market
The growth of the oil accumulator market is influenced by various stakeholders, including blowout preventer, mud pump, and offshore rig manufacturers, drilling tools and equipment manufacturers, oilfield operators, leasing contractors, government and research organizations, offshore exploration and production associations, and environmental research institutes.
The rapidly growing demand for oil accumulator is driven by their utility in various applications. These include pulsation dampening, noise reduction, and leakage compensation. Oil accumulators are generally preferred for blowout preventers, offshore rigs, and mud pumps applications.
The recent developments in the oil accumulator market have been encouraging, with agreements and collaborations acting as a major strategy adopted by market players. The market has also witnessed several new product launches by major accumulator manufacturers as a result of extensive R&D activities. The attempts to minimize environmental hazards during drilling and exploration activities are a major growth catalyst for the oil accumulator market.
Companies such as Parker Hannifin Corporation (U.S.), Bosch Rexroth Corporation (U.S.), Tobul Accumulator Inc. (U.S.), Nippon Accumulator Co. Ltd. (U.S.), and Eaton Corporation (Ireland) have been the most active in terms of strategic developments from January 2011 to December 2014. Most of these market players actively participate in competitive developments.
Several new products are expected to be launched, and many companies are attempting to gain traction in the market by using differentiation as a key strategy. The support from various government organizations has also greatly benefitted these companies.
The leading manufacturers focus on agreements and collaborations, as capital expenditure is very high for R&D and product development in the oil accumulator industry.
Oil Accumulator Market by Type (Bladder, Piston, and Diaphragm), Application (Blowout Preventer, Offshore Rigs, Mud Pumps), & Region (North America. Latin America, Asia-Pacific, Europe, the Middle East, and Africa) - Global Trends & Forecast to 2019
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