Pressure Control Equipment Market

Pressure Control Equipment Market by Component (Valves, Control Heads, Quick Unions, Wellhead Flanges, Christmas Trees, and Adapter Flanges), Type (High and Low), Application (Onshore and Offshore), and Region - Global Forecast to 2023

Report Code: SE 6826 Jan, 2019, by marketsandmarkets.com

[132 Pages Report] The overall pressure control equipment market is expected to grow from USD 5.7 billion in 2018 to USD 7.4 billion by 2023, at a CAGR of 5.6% during the forecast period. The growth of this market is being fueled by the technological advancement in oil field equipment, increase in global investments in exploration and production (E&P), and rise in unconventional hydrocarbon production in North America.

Pressure Control Equipment Market

“Market for control head to grow at highest rate during forecast period”

Control heads are used to divert the flow form the wellhead through the surface operation facility in an oil field. Control heads are mainly used to enhance personnel safety and environment protection. In drilling application, control head provides a secondary barrier to the release of well fluids on the rig floor. In addition to drilling applications, workover operations involving the use of nitrogen or other gases sometimes use control heads.

“Pressure control equipment market for high pressure to grow at higher rate during forecast period”

High pressure control equipment has a rated working pressure of more than 10,000 psi. The pressure control equipment in high pressure wells require special instruments for high pressure suction and high temperature. Extra preventive measures are also taken into consideration as wells with high pressure are considered volatile reservoir environments. The pressure control equipment is manufactured by following the API standard to withstand high pressure conditions. As companies are focusing on high pressure drilling, the market for high pressure control equipment is expected to grow at the highest CAGR during the forecast period.

“Onshore application to hold the largest size of pressure control equipment market during forecast period”

The demand for pressure control equipment for offshore applications is expected to increase during the forecast period. Rising demand for pressure control equipment from China, Southeast Asia, and the Middle East would drive the onshore segment. The presence of huge onshore shale reserves in the US and Australia is likely to boost the demand for onshore oil fields. In 2018, the onshore rig count in North America was approximately 92%, in the Middle East it was approximately 85%, and the trend was similar for other regions as well. This has led the implementation of pressure control equipment for onshore applications, and this trend is expected to continue during the forecast period.

Pressure Control Equipment Market

“North America to account for largest market during forecast period”

North America is expected to continue to account for the largest share of the pressure control equipment market, in terms of value. According to BP plc, North America is expected to account for 77% and 84% of the global shale gas and tight oil output by 2035, respectively. The region is the new swing producer in the global oil markets owing to the boom in production from both shale operation and deepwater exploration and production in the Gulf of Mexico. Increase in drilling activities in key tight and shale basins and inception of several new projects in the federal offshore—Gulf of Mexico—are expected to drive the demand for pressure control equipment in the region.

Key Market Players

Schlumberger (US), National Oilwell Varco (US), Baker Hughes (US), Lee Specialties (Canada), Control Flow (US), Brace Tool (Canada), and FHE USA (US) are among the major key players in the region. These companies adopt various growth strategies to strengthen their position in the pressure control equipment market.

National Oilwell Varco adopts a balanced approach in the pressure control equipment market. The company adopts both organic and inorganic growth strategies to strengthen its position in the market. The company launched radio frequency identification technology, asset management software, and Rigsentry, which predicts operational failures in the subsea blowout preventer, to expand its product portfolio in the pressure control equipment market. The company further strengthens its market position in North America by acquiring Fjords Processing (Canada) and the completion tool business segment of Trican Well Service, Ltd. (Canada).

Recent Developments

  • In June 2018, Baker Hughes, a GE company, was awarded an integrated well services contract to support a large proportion of Equinor’s drilling and well construction activities in the Norwegian sector of the North Sea for an initial period of 4 years with options to extend up to 10 years.
  • In February 2018, Schlumberger and Subsea 7 S.A. entered into exclusive negotiations to form a joint venture that builds on the success of Subsea Integration Alliance, which was established in 2015. Subsea Integration Alliance, currently, combines the subsurface expertise, subsea production systems (SPS), and subsea processing systems of OneSubsea with the subsea umbilical, riser and flowline systems (SURF) capability of Subsea 7.
  • In March 2017, Schlumberger and Weatherford International, PLC (Switzerland) entered into an agreement to form a joint venture called OneStim. This joint venture will provide customers in the US and Canada with products and services for unconventional resource plays. The joint venture is expected to consist of multistage completion portfolios and the largest fracturing fleet.

Key questions addressed in the report

  • Where will all the developments take the industry in the mid-to-long term?
  • What are the upcoming products and technologies in the pressure control equipment market?
  • Who are the key players and what are the strategies adopted by them?
  • Which are the fastest- or highest-growing areas in the pressure control equipment market?
  • What are major drivers, restraints, opportunities, and challenges pertaining to the pressure control equipment market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Study Objectives
    1.2 Definition
    1.3 Scope of the Study
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Sources
           2.1.3 Secondary and Primary Research
                    2.1.3.1 Key Industry Insights
                    2.1.3.2 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Arriving at the Market Size By Bottom-Up Analysis
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Size By Top-Down Analysis
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumption

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 33)
    4.1 Pressure Control Equipment Market Opportunities
    4.2 Pressure Control Equipment Market, By Component
    4.3 Pressure Control Equipment Market, By Type
    4.4 Pressure Control Equipment Market, By Application
    4.5 Pressure Control Equipment Market in North America, By Component and Country (2018)
    4.6 Pressure Control Equipment Market, By Geography

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Technological Advancement in Oilfield Equipment
                    5.2.1.2 Increase in Global Investments in Exploration & Production (E&P)
                    5.2.1.3 Rise in Unconventional Hydrocarbon Production in North America
           5.2.2 Restraints
                    5.2.2.1 Customized Demands By Drillers
                    5.2.2.2 Decline in Drilling Activities and Rig Counts
           5.2.3 Opportunities
                    5.2.3.1 Refracturing Activities in the Us
                    5.2.3.2 Emerging Offshore Opportunities
           5.2.4 Challenges
                    5.2.4.1 Lesser Success Rate of Exploration

6 Industry Trends (Page No. - 42)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Regulatory Standards
           6.3.1 American Petroleum Institute (API)
                    6.3.1.1 API SPEC 6a
                    6.3.1.2 API RP 53
                    6.3.1.3 API SPEC 17d

7 Pressure Control Equipment Market, By Component (Page No. - 45)
    7.1 Introduction
    7.2 Valves
           7.2.1 Valves—Major Pressure Control Equipment Used for Isolation and Throttling Services
    7.3 Control Head
           7.3.1 Helps in Lowering Drilling Cost and Increasing Well Productivity
    7.4 Wellhead Flange
           7.4.1 Holds Largest Share of Pressure Control Equipment Market
    7.5 Christmas Tree (Flow Tee)
           7.5.1 Main Purpose—To Control Flow of Well Fluids Or Gas During Production
    7.6 Adapter Flange
           7.6.1 North America to Hold Largest Share of Pressure Control Market for Adapter Flange During Forecast Period
    7.7 Quick Unions
           7.7.1 Market for Quick Unions in Africa to Grow at Highest CAGR During Forecast Period
    7.8 Others
           7.8.1 Market in Middle East to Witness Highest CAGR From 2018 to 2023

8 Pressure Control Equipment Market, By Type (Page No. - 62)
    8.1 Introduction
    8.2 High Pressure (Above 10,000 PSI)
           8.2.1 Market for High Pressure to Grow at Higher CAGR During Forecast Period
    8.3 Low Pressure (Below 10,000 PSI)
           8.3.1 New Oil Field Development in African and European Economies Contribute to Growth of Low Pressure Control Equipment

9 Pressure Control Equipment Market, By Application (Page No. - 65)
    9.1 Introduction
    9.2 Onshore
           9.2.1 Onshore Application to Hold Major Share in Pressure Control Equipment Market
    9.3 Offshore
           9.3.1 Offshore Application to Grow at Higher CAGR During Forecast Period

10 Geographic Analysis (Page No. - 69)
     10.1 Introduction
     10.2 North America
             10.2.1 US
                        10.2.1.1 US Accounts for Major Share in North American Pressure Control Equipment Market
             10.2.2 Canada
                        10.2.2.1 Investment in E&P Projects to Create Demand for Pressure Control Equipment
             10.2.3 Mexico
                        10.2.3.1 Market in Mexico to Grow at Highest CAGR During Forecast Period
     10.3 Europe
             10.3.1 Russia
                        10.3.1.1 Russia Accounted for Largest Share in European Pressure Control Equipment Market During Forecast Period
             10.3.2 Norway
                        10.3.2.1 Government Initiatives for Providing Licenses to Oil & Gas Companies for E&P Activities Boost Pressure Control Equipment Demand in the Region
             10.3.3 UK
                        10.3.3.1 Political and Regional Scenarios Provide A Positive Environment for E&P Activities
             10.3.4 Rest of Europe
                        10.3.4.1 Major Investments in the Region Contributing to Growth of Pressure Control Equipment Market
     10.4 APAC
             10.4.1 China
                        10.4.1.1 China Accounted for Largest Share of Pressure Control Equipment Market in APAC From 2018 to 2023
             10.4.2 India
                        10.4.2.1 Huge Investment in Downstream Market Boosts Demand for Pressure Control Equipment Market in India
             10.4.3 Australia
                        10.4.3.1 Development of New Areas for Exploration Activities Creates Opportunity for Pressure Control Equipment in Australia
             10.4.4 Indonesia
                        10.4.4.1 Government Policy and Support Likely to Create Opportunity for Pressure Control Equipment Market in Indonesia
             10.4.5 Rest of APAC
                        10.4.5.1 Large Capacity of Oil Reverses and Upcoming Developments Attracting Pressure Control Equipment Market in the Rest of APAC
     10.5 South America
             10.5.1 Venezuela
                        10.5.1.1 Upcoming Drilling Projects Will Create Opportunity for Pressure Control Equipment in Venezuela
             10.5.2 Brazil
                        10.5.2.1 Investment in Upstream and Oil Extraction and Exploration Activities Create Opportunity for Pressure Control Equipment Market in Brazil
             10.5.3 Argentina
                        10.5.3.1 Favorable Condition for Drilling Activities and Government Support Contribute Toward Growth of Pressure Control Equipment Market in Argentina
             10.5.4 Rest of South America
                        10.5.4.1 Huge Oil Reserves and Cheap Extraction Technology Provide A Huge Investment Opportunity for Upstream Companies
     10.6 Middle East
             10.6.1 Saudi Arabia
                        10.6.1.1 Capital Expenditure Proposed By the National Oil Company Provides an Attractive Market for Pressure Control Equipment in Saudi Arabia
             10.6.2 Iraq
                        10.6.2.1 New Development Proposed By the Government Creates Opportunity for Pressure Control Equipment Market in Iraq
             10.6.3 Oman
                        10.6.3.1 Oman Accounted for Largest Share of Pressure Control Equipment Market During Forecast Period in Middle East
             10.6.4 UAE
                        10.6.4.1 Pressure Control Equipment Market in UAE to Grow at Highest CAGR During Forecast Period
             10.6.5 Kuwait
                        10.6.5.1 Capital Expenditure Proposed By Oil Companies and Government Provide Attractive Market for Pressure Control Equipment in Kuwait
             10.6.6 Rest of the Middle East
                        10.6.6.1 Investment Plans in Upstream Oil Market Help Create Opportunity for Pressure Control Equipment in Rest of Middle East
     10.7 Africa
             10.7.1 Algeria
                        10.7.1.1 Algeria Accounted for Largest Share of Pressure Control Equipment Market in Africa
             10.7.2 Nigeria
                        10.7.2.1 Pressure Control Equipment Market in Nigeria to Grow at Highest CAGR During Forecast Period
             10.7.3 Egypt
                        10.7.3.1 New Exploration Activities and Further Development of Existing Fields to Boost Demand for Pressure Control Equipment Market in Egypt
             10.7.4 Rest of Africa
                        10.7.4.1 Foreign Direct Investments in Term of Contracts Attract Pressure Control Equipment Market in Rest of Africa

11 Competitive Landscape (Page No. - 113)
     11.1 Overview
     11.2 Market Ranking Analysis: Pressure Control Equipment Market
     11.3 Competitive Situation & Trends
             11.3.1 Partnerships, Agreements, and Contracts
             11.3.2 Product Launches
             11.3.3 Expansions
             11.3.4 Acquisitions, Mergers, and Joint Ventures

12 Company Profiles (Page No. - 119)
     12.1 Key Players
(Business Overview, Products, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
             12.1.1 Schlumberger
             12.1.2 Weatherford International
             12.1.3 National Oilwell Varco
             12.1.4 Baker Hughes, A Ge Company
             12.1.5 The Weir Group
             12.1.6 Tis Manufacturing
             12.1.7 Lee SPECialties
             12.1.8 Hunting
             12.1.9 Control Flow
             12.1.10 Brace Tool
     12.2 Other Prominent Players
             12.2.1 Fhe
             12.2.2 Integrated Equipment
             12.2.3 The Ikm Group
             12.2.4 GKD Industries
             12.2.5 IoT Group

*Details on Business Overview, Products, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 144)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Available Customizations
     13.5 Related Reports
     13.6 Author Details


List of Tables (68 Tables)

Table 1 Pressure Control Equipment Market, By Component, 2015–2023 (USD Million)
Table 2 Pressure Control Equipment Market for Valves, By Region, 2015–2023 (USD Million)
Table 3 Pressure Control Equipment Market for Valves, By Country, 2015–2023 (USD Million)
Table 4 Pressure Control Equipment Market for Control Head, By Region, 2015–2023 (USD Million)
Table 5 Pressure Control Equipment Market for Control Head, By Country, 2015–2023 (USD Million)
Table 6 Pressure Control Equipment Market for Wellhead Flange, By Region, 2015–2023 (USD Million)
Table 7 Pressure Control Equipment Market for Wellhead Flange, By Country, 2015–2023 (USD Million)
Table 8 Pressure Control Equipment Market for Christmas Tree, By Region, 2015–2023 (USD Million)
Table 9 Pressure Control Equipment Market for Christmas Tree, By Country, 2015–2023 (USD Million)
Table 10 Pressure Control Equipment Market for Adapter Flange, By Region, 2015–2023 (USD Million)
Table 11 Pressure Control Equipment Market for Adapter Flange, By Country, 2015–2023 (USD Million)
Table 12 Pressure Control Equipment Market for Quick Unions, By Region, 2015–2023 (USD Million)
Table 13 Pressure Control Equipment Market for Quick Unions, By Country, 2015–2023 (USD Million)
Table 14 Pressure Control Equipment Market for Others, By Region, 2015–2023 (USD Million)
Table 15 Pressure Control Equipment Market for Others, By Country, 2015–2023 (USD Million)
Table 16 Pressure Control Equipment Market, By Type, 2015–2023 (USD Million)
Table 17 Pressure Control Equipment Market, By Application, 2015–2023 (USD Million)
Table 18 Pressure Control Equipment Market for Onshore Application, By Region, 2015–2023 (USD Million)
Table 19 Pressure Control Equipment Market for Offshore Application, By Region, 2015–2023 (USD Million)
Table 20 Pressure Control Equipment Market, By Region, 2015–2023 (USD Million)
Table 21 Pressure Control Equipment Market in North America, By Component, 2015–2023 (USD Million)
Table 22 Pressure Control Equipment in North America, By Application, 2015–2023 (USD Million)
Table 23 Pressure Control Equipment Market in North America, By Country, 2015–2023 (USD Million)
Table 24 Pressure Control Equipment Market in Us, By Component, 2015–2023 (USD Million)
Table 25 Pressure Control Equipment Market in Canada, By Component, 2015–2023 (USD Million)
Table 26 Pressure Control Equipment Market in Mexico, By Component, 2015–2023 (USD Million)
Table 27 Pressure Control Equipment Market in Europe, By Component, 2015–2023 (USD Million)
Table 28 Pressure Control Equipment in Europe, By Application, 2015–2023 (USD Million)
Table 29 Pressure Control Equipment Market in Europe, By Country, 2015–2023 (USD Million)
Table 30 Pressure Control Equipment Market in Russia, By Component, 2015–2023 (USD Million)
Table 31 Pressure Control Equipment Market in Norway, By Component, 2015–2023 (USD Million)
Table 32 Pressure Control Equipment Market in Uk, By Component, 2015–2023 (USD Million)
Table 33 Pressure Control Equipment Market in Rest of Europe, By Component, 2015–2023 (USD Million)
Table 34 Pressure Control Equipment Market in APAC, By Component, 2015–2023 (USD Million)
Table 35 Pressure Control Equipment in APAC By Application, 2015–2023 (USD Million)
Table 36 Pressure Control Equipment Market in APAC, By Country, 2015–2023 (USD Million)
Table 37 Pressure Control Equipment Market in China, By Component, 2015–2023 (USD Million)
Table 38 Pressure Control Equipment Market in India, By Component, 2015–2023 (USD Million)
Table 39 Pressure Control Equipment Market in Australia, By Component, 2015–2023 (USD Million)
Table 40 Pressure Control Equipment Market in Indonesia, By Component, 2015–2023 (USD Million)
Table 41 Pressure Control Equipment Market in Rest of APAC, By Component, 2015–2023 (USD Million)
Table 42 Pressure Control Equipment Market in South America, By Component, 2015–2023 (USD Million)
Table 43 Pressure Control Equipment in South America, By Application, 2015–2023 (USD Million)
Table 44 Pressure Control Equipment Market in South America, By Country, 2015–2023 (USD Million)
Table 45 Pressure Control Equipment Market in Venezuela, By Component, 2015–2023 (USD Million)
Table 46 Pressure Control Equipment Market in Brazil, By Component, 2015–2023 (USD Million)
Table 47 Pressure Control Equipment Market in Argentina, By Component, 2015–2023 (USD Million)
Table 48 Pressure Control Equipment Market in Rest of South America, By Component, 2015–2023 (USD Million)
Table 49 Pressure Control Equipment Market in Middle East, By Component, 2015–2023 (USD Million)
Table 50 Pressure Control Equipment in Middle East, By Application, 2015–2023 (USD Million)
Table 51 Pressure Control Equipment Market in Middle East, By Country, 2015–2023 (USD Million)
Table 52 Pressure Control Equipment Market in Saudi Arabia, By Component, 2015–2023 (USD Million)
Table 53 Pressure Control Equipment Market in Iraq, By Component, 2015–2023 (USD Thousand)
Table 54 Pressure Control Equipment Market in Oman, By Component, 2015–2023 (USD Million)
Table 55 Pressure Control Equipment Market in UAE, By Component, 2015–2023 (USD Million)
Table 56 Pressure Control Equipment Market in Kuwait, By Component, 2015–2023 (USD Million)
Table 57 Pressure Control Equipment Market in Rest of Middle East, By Component, 2015–2023 (USD Million)
Table 58 Pressure Control Equipment Market in Africa, By Component, 2015–2023 (USD Million)
Table 59 Pressure Control Equipment in Africa, By Application, 2015–2023 (USD Million)
Table 60 Pressure Control Equipment Market in Africa, By Country, 2015–2023 (USD Million)
Table 61 Pressure Control Equipment Market in Algeria, By Component, 2015–2023 (USD Million)
Table 62 Pressure Control Equipment Market in Nigeria, By Component, 2015–2023 (USD Thousand)
Table 63 Pressure Control Equipment Market in Egypt, By Component, 2015–2023 (USD Thousand)
Table 64 Pressure Control Equipment Market in Rest of Africa, By Component, 2015–2023 (USD Thousand)
Table 65 Partnerships, Agreements, and Contracts (2015–2018)
Table 66 Product Launches (2015–2018)
Table 67 Expansion (2017)
Table 68 Acquisitions, Mergers, and Joint Ventures (2015–2018)


List of Figures (46 Figures)

Figure 1 Pressure Control Equipment Market Segmentation
Figure 2 Pressure Control Equipment Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Wellhead Flange to Hold Largest Size of Pressure Control Equipment Market From 2018 to 2023
Figure 7 High Pressure to Dominate Pressure Control Equipment Market During Forecast Period
Figure 8 Onshore Application to Hold Larger Size of Pressure Control Equipment Market From 2018 to 2023
Figure 9 Pressure Control Equipment Market in North America to Grow at Highest CAGR During Forecast Period
Figure 10 Attractive Opportunities in Pressure Control Equipment Market From 2018 to 2023
Figure 11 Wellhead Flange to Hold Largest Share of Pressure Control Equipment Market From 2018 to 2023
Figure 12 High Pressure to Lead Pressure Control Equipment Market From 2018 to 2023
Figure 13 Onshore Application to Hold Larger Size of Pressure Control Equipment Market From 2018 to 2023
Figure 14 US to Hold Largest Size of Pressure Control Equipment Market in 2018
Figure 15 North America to Hold Largest Share of Pressure Control Equipment Market From 2018 to 2023
Figure 16 Pressure Control Equipment Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Global Oil & Gas Upstream Capital Spending, 2023–2018
Figure 18 Upstream Investment Plans By Opec
Figure 19 Worldwide Rig Count, 2013–2018
Figure 20 Value Chain Analysis: Major Value Added During Manufacturing Stage
Figure 21 Pressure Control Equipment Market, By Component
Figure 22 North America to Hold Largest Size of Pressure Control Equipment Market for Control Head During Forecast Period
Figure 23 Middle East to Witness Highest CAGR During Forecast Period
Figure 24 Pressure Control Equipment Market, By Type
Figure 25 Pressure Control Equipment Market, By Application
Figure 26 North America to Hold Largest Size of Pressure Control Equipment Market for Onshore Application During Forecast Period
Figure 27 Geographic Snapshot (2017): India to Witness Significant Growth During Forecast Period
Figure 28 North America: Snapshot of Pressure Control Equipment Market
Figure 29 Wellhead Flange to Hold Largest Size of Pressure Control Equipment Market in US During Forecast Period
Figure 30 Europe: Snapshot of Pressure Control Equipment Market
Figure 31 Pressure Control Equipment Market in Russia to Grow at Highest CAGR During Forecast Period
Figure 32 APAC: Snapshot of Pressure Control Equipment Market
Figure 33 China to Hold Largest Size of Pressure Control Equipment Market in APAC From 2018 to 2023
Figure 34 Wellhead Flange to Hold Largest Size of Pressure Control Equipment Market in South America From 2018 to 2023
Figure 35 Pressure Control Equipment Market for Christmas Tree in Brazil to Grow at Highest CAGR During Forecast Period
Figure 36 Oman to Hold Largest Size of Pressure Control Equipment Market in Middle East During Forecast Period
Figure 37 Pressure Control Equipment Market for Quick Unions in Nigeria to Grow at Highest CAGR From 2018 to 2023
Figure 38 Product Launches and Developments are Key Growth Strategies Adopted By Companies From 2015 to 2018
Figure 39 Ranking of Key Players in Pressure Control Equipment Market, 2017
Figure 40 Battle for Market Share: Product Launch Was the Key Strategy
Figure 41 Schlumberger: Company Snapshot
Figure 42 Weatherford International: Company Snapshot
Figure 43 National Oilwell Varco: Company Snapshot
Figure 44 Baker Hughes: Company Snapshot
Figure 45 The Weir Group: Company Snapshot
Figure 46 Hunting: Company Snapshot

The study involved 4 major activities to estimate the current market size for pressure control equipment. Exhaustive secondary research has been conducted to collect information on the market, peer market, and parent market. Validation of these findings, assumptions with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation procedures have been used to estimate the market size of each segment and subsegment.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet have been referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The pressure control equipment market comprises several stakeholders such as consulting companies of the energy & power sector, government and research organizations, investment banks, national oil companies (NOCs), oilfield tools and equipment manufacturers. The demand side of this market is characterized by government organizations and oil & gas industry. The supply side is characterized by component suppliers, system integrators, end-to-end solution providers, and oilfield rental and service providers. Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is as follows.

Pressure Control Equipment Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the pressure control equipment market. These methods have been also used extensively to estimate the size of various subsegments in the market. Following is the method to estimate the market size:

  • Major players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To describe and forecast the pressure control equipment market, in terms of value, by component, type, and application
  • To describe and forecast the pressure control equipment market, in terms of value, by region—North America, Europe, Asia Pacific (APAC), South America, the Middle East, and Africa
  • To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze micromarkets with regard to individual growth trends, prospects, and contributions to the total market
  • To study the complete value chain of pressure control equipment
  • To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
  • To analyze strategic approaches such as product launches, acquisitions, contracts, agreements, and partnerships in the pressure control equipment market

Scope of the Report

Report Metric

Details

Market size available for years

2015-2023

  Base year considered

2017

  Forecast period

2018-2023

  Forecast units

Value (USD)

  Segments covered

Component, Type, Application, and Region

  Geographies covered

North America, Europe, APAC, South America, Middle East, and Africa

  Companies covered

Schlumberger (US), Weatherford (Switzerland), National Oilwell Varco (US), Baker Hughes, a GE Company (US), The Weir Group (UK), TIS Manufacturing (UK), Lee Specialties (Canada), Hunting (UK). A Total of 15 major players have been covered.

 This research report categorizes the pressure control equipment market by component, type, application, and region.

Pressure Control Equipment Market, by Component:

  • Valves
  • Control Heads
  • Wellhead Flanges
  • Christmas Trees (Flow Tee)
  • Adapter Flanges
  • Quick Unions
  • Others (Frac Tee, Hydraulic Chokes, and Crossover Adapters)

Pressure Control Equipment Market, by Type:

  • High Pressure (Above 10,000 psi)
  • Low Pressure (Below 10,000 psi)

Pressure Control Equipment Market, by Application:

  • Onshore
  • Offshore

Pressure Control Equipment Market, by Region:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East
  • Africa

Available Customizations:

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The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
SE 6826
Published ON
Jan, 2019
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