Oil Accumulator - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Oil Accumulator Market is accounted for $522.71 million in 2019 and is expected to reach $878.17 million by 2027 growing at a CAGR of 6.7% during the forecast period. Some of the factors such as shale gas exploration boom in the US and increasing usage of oil accumulator in various applications such as blow out preventer & well head control are propelling the market growth. However, issues related to transition to renewable sources of energy is hindering the market growth.
Oil Accumulator is a device that stores energy during the drilling procedure in the hydraulic system. It compresses a gas bladder which is charged to a little extent with hydraulic fluids. Through this process, energy gets stored. Oil Accumulator is used in mud pumps, blowout preventers, and drilling rigs. It is also called a hydro-pneumatic device, which majorly handles pressure arising from fluctuations, leakage compensation, noise reduction, and pulsation damping.
Based on the type, the bladder accumulator segment is going to have a lucrative growth during the forecast period owing to the rise in investment in onshore and offshore applications. Bladder accumulators are quite useful in different offshore applications and they own high durability.
By geography, North America is estimated to have a lucrative growth during the forecast period due to the leading countries, such as the US and Canada, which are immensely contributing to the growth of the oil accumulator market in the North America region.
Some of the key players profiled in the Oil Accumulator Market include Rotec Hydraulics, Roth Hydraulics, Accumulators, Hydroll, Parker Hannifin, Bosch, Hydac, Freudenberg, Nippon Accumulators, Technetics Group, Hannon Hydraulics, Eaton, GE Oil & Gas, and Tobul Accumulator Inc.
Pressure Ratings Covered:
• Up to 6,000 Psi
• Above 6,000 Psi
• Bladder Accumulator
• Diaphragm Accumulator
• Piston Accumulator
Onshore vs Offshore Covered:
• Blow Out Preventer & Well Head Control
• Mud Pumps
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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