Pressure Control Equipment Market
PUBLISHED: 2023 ID: SMRC22546
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Pressure Control Equipment Market

Pressure Control Equipment Market Forecasts to 2028 - Global Analysis By Type (Low Pressure, High Pressure), Component (Quick Unions, Control Heads, Valves, Christmas Trees, Adapter Flanges, Wellhead Flanges, Other Components), Application (Offshore, Onshore), and Geography

4.4 (89 reviews)
4.4 (89 reviews)
Published: 2023 ID: SMRC22546

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $6.8 BN

Projected Year Value (2028)

US $10.4 BN

CAGR (2022 - 2028)

7.4%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Pressure Control Equipment Market is accounted for $6.8 billion in 2022 and is expected to reach $10.4 billion by 2028 growing at a CAGR of 7.4% during the forecast period. In industrial settings, pressure control equipment is frequently employed. With the aid of pressure control or volume control functions, the system controls pressure during mechanical ventilation. The system aids in maintaining wellbore optical pressure levels. These systems go through rigorous quality control procedures to assure operator safety even in tough circumstances.

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.

Market Dynamics:

Driver:

Increasing investment in global exploration

Pressure control equipment is in demand on the market as a result of rising investments in due to its global and manufacturing as well as advancements in well-drilling methods. Pressure control equipment significantly reduces risks, enhance safety, and enhance drilling performance. Rapid digital transformation is taking place in the oil and gas sector to reduce risk and increase efficiency. The need for hydrocarbons, which are a major source of the world's energy supply, is expected to increase, and the need for higher safety standards among drilling companies is likely to be some of the main forces on the market for pressure control equipment.

Restraint:

Slow production process

The equipment for pressure control goes through a complicated manufacturing process. The market is still constrained by the difficulties in manufacturing this equipment. Every one of these equipment items has a lengthy production cycle. This causes the entire manufacturing process for the market for pressure control devices to be delayed. The inability to produce quickly results in a delay in satisfying customer demand. Hence, market expansion is constrained.

Opportunity:

Technological advancements

The development of technology will create opportunities for the market for pressure control equipment. The efficiency of exploratory efforts will rise as a result of the pressure control enhancements. These developments will help both of the offshore and onshore market segments. The end-users' demand for the greater pressure control equipment will skyrocket as a result of the improvements. High-pressure equipment is more necessary for exploratory activities involving oil, water, and many other substances. The major market participants are increasing product variety and innovation. The overall demand will benefit from the effects of these factors.

Threat:

Expensive pressure control valves

The main drawback of employing a pressure control valve is that regular maintenance is necessary for it to function correctly. Regular valve maintenance is important because if it isn't done, the valve may not function at its best, which could result in greater energy expenses or even damage to delicate equipment when excessive pressure rises up in the system. In addition, some control valve types can be challenging to install because of their size or complexity.

Covid-19 Impact

The development of pressure control devices is anticipated to be hampered by the Covid 19 outbreak. The need for pressure control equipment is decreasing across a number of industries. The demand for gas, steel manufacture, and crude oil is particularly low at this time. Due to limitations and lockdowns, all of these industries are closed. Market demand for pressure control equipment is decreasing as a result of the weak market conditions in these regions.

The high pressure segment is expected to be the largest during the forecast period

The high pressure segment is estimated to have a lucrative growth. Wells with high temperatures and pressures require unique equipment and supplies. Being considered volatile reservoir situations, they also call for further precautions and training. As a result, the requirement of instruments for high-pressure situations gives businesses the chance to make pressure control equipment specifically for their needs utilising unique materials.

The valves segment is expected to have the highest CAGR during the forecast period

The valves segment is anticipated to witness the fastest CAGR growth during the forecast period. In hydraulic systems, pressure control valves are employed to manage and regulate the actuator force. A hydraulic actuator, which comprises of a cylinder or fluid motor and employs hydraulic power to accomplish a mechanical operation, generates the actuator force. Unloading valves are made for cost-effective pressure management in circuits powered by accumulators that also act as a battery backup for emergency control.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to demand for oil in developing countries, which is expected to soon surpass that in industrialised countries and powerful demand coming from China, India, and other emerging economies throughout Asia, which are still experiencing strong economic growth. Due to growing attempts to find gas from coal seams and shale gas as well as favourable oil and gas prices, the market is predicted to grow as more wells are drilled.

Region with highest CAGR:

North America rise in productivity from both unconventional operations and depth drilling and extraction in the Gulf of Mexico has made the area the new lead producer in the international oil markets. The region's exploration and production activities are anticipated to pick up steam as a result of big oil firms increasing their capital expenditures. The market for pressure control equipment in North America has expanded as a result of large oil firms increasing their capital expenditures and a surge in production from deepwater exploration and production (E&P) and shale operations in the Gulf of Mexico.



Key players in the market

Some of the key players profiled in the Pressure Control Equipment Market include National Oilwell Varco, Inc, Baker Hughes, TIS Manufacturing, Weatherford International, Control Flow, Hunting PLC, Emerson, Pressure Tech Ltd., Schlumberger, Weir Group PLC, Brace Tool and IKM Group.

Key Developments:

In October 2022, Emerson announced that a customer in China recently purchased the 3 millionths Fisher FIELDVUE digital valve controller for use in their membrane plant's water treatment pressure control valve. A digital valve controller regulates and monitors the opening and closing of a control valve, and it also provides a wealth of information about the status and health of the valve.

In June 2022, Pressure Tech Ltd. and Malaysian authorized reseller, ENE Petro Services Sdn Bhd, celebrated a significant milestone reached in Southeast Asia. Pressure Tech was given a contract by Petronas/MMHE to install pressure regulators in the Kasawari Gas Field. A 1,034 bar (15,000 PSI) rated Inconel 625 back pressure regulator for a wellhead control system is included in the box.

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.

Types Covered:
• Low Pressure
• High Pressure

Components Covered:
• Quick Unions
• Control Heads
• Valves
• Christmas Trees
• Adapter Flanges
• Wellhead Flanges
• Other Components

Applications Covered:
• Offshore
• Onshore

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Pressure Control Equipment Market, By Type
5.1 Introduction
5.2 Low Pressure
5.3 High Pressure

6 Global Pressure Control Equipment Market, By Component
6.1 Introduction
6.2 Quick Unions
6.3 Control Heads
6.4 Valves
6.5 Christmas Trees
6.6 Adapter Flanges
6.7 Wellhead Flanges
6.8 Other Components

7 Global Pressure Control Equipment Market, By Application
7.1 Introduction
7.2 Offshore
7.3 Onshore

8 Global Pressure Control Equipment Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa

9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies

10 Company Profiling
10.1 National Oilwell Varco, Inc
10.2 Baker Hughes
10.3 TIS Manufacturing
10.4 Weatherford International
10.5 Control Flow
10.6 Hunting PLC
10.7 Emerson
10.8 Pressure Tech Ltd.
10.9 Schlumberger
10.10 Weir Group PLC
10.11 Brace Tool
10.12 IKM Group

List of Tables
1 Global Pressure Control Equipment Market Outlook, By Region (2020-2028) ($MN)
2 Global Pressure Control Equipment Market Outlook, By Type (2020-2028) ($MN)
3 Global Pressure Control Equipment Market Outlook, By Low Pressure (2020-2028) ($MN)
4 Global Pressure Control Equipment Market Outlook, By High Pressure (2020-2028) ($MN)
5 Global Pressure Control Equipment Market Outlook, By Component (2020-2028) ($MN)
6 Global Pressure Control Equipment Market Outlook, By Quick Unions (2020-2028) ($MN)
7 Global Pressure Control Equipment Market Outlook, By Control Heads (2020-2028) ($MN)
8 Global Pressure Control Equipment Market Outlook, By Valves (2020-2028) ($MN)
9 Global Pressure Control Equipment Market Outlook, By Christmas Trees (2020-2028) ($MN)
10 Global Pressure Control Equipment Market Outlook, By Adapter Flanges (2020-2028) ($MN)
11 Global Pressure Control Equipment Market Outlook, By Wellhead Flanges (2020-2028) ($MN)
12 Global Pressure Control Equipment Market Outlook, By Other Components (2020-2028) ($MN)
13 Global Pressure Control Equipment Market Outlook, By Application (2020-2028) ($MN)
14 Global Pressure Control Equipment Market Outlook, By Offshore (2020-2028) ($MN)
15 Global Pressure Control Equipment Market Outlook, By Onshore (2020-2028) ($MN)
16 North America Pressure Control Equipment Market Outlook, By Country (2020-2028) ($MN)
17 North America Pressure Control Equipment Market Outlook, By Type (2020-2028) ($MN)
18 North America Pressure Control Equipment Market Outlook, By Low Pressure (2020-2028) ($MN)
19 North America Pressure Control Equipment Market Outlook, By High Pressure (2020-2028) ($MN)
20 North America Pressure Control Equipment Market Outlook, By Component (2020-2028) ($MN)
21 North America Pressure Control Equipment Market Outlook, By Quick Unions (2020-2028) ($MN)
22 North America Pressure Control Equipment Market Outlook, By Control Heads (2020-2028) ($MN)
23 North America Pressure Control Equipment Market Outlook, By Valves (2020-2028) ($MN)
24 North America Pressure Control Equipment Market Outlook, By Christmas Trees (2020-2028) ($MN)
25 North America Pressure Control Equipment Market Outlook, By Adapter Flanges (2020-2028) ($MN)
26 North America Pressure Control Equipment Market Outlook, By Wellhead Flanges (2020-2028) ($MN)
27 North America Pressure Control Equipment Market Outlook, By Other Components (2020-2028) ($MN)
28 North America Pressure Control Equipment Market Outlook, By Application (2020-2028) ($MN)
29 North America Pressure Control Equipment Market Outlook, By Offshore (2020-2028) ($MN)
30 North America Pressure Control Equipment Market Outlook, By Onshore (2020-2028) ($MN)
31 Europe Pressure Control Equipment Market Outlook, By Country (2020-2028) ($MN)
32 Europe Pressure Control Equipment Market Outlook, By Type (2020-2028) ($MN)
33 Europe Pressure Control Equipment Market Outlook, By Low Pressure (2020-2028) ($MN)
34 Europe Pressure Control Equipment Market Outlook, By High Pressure (2020-2028) ($MN)
35 Europe Pressure Control Equipment Market Outlook, By Component (2020-2028) ($MN)
36 Europe Pressure Control Equipment Market Outlook, By Quick Unions (2020-2028) ($MN)
37 Europe Pressure Control Equipment Market Outlook, By Control Heads (2020-2028) ($MN)
38 Europe Pressure Control Equipment Market Outlook, By Valves (2020-2028) ($MN)
39 Europe Pressure Control Equipment Market Outlook, By Christmas Trees (2020-2028) ($MN)
40 Europe Pressure Control Equipment Market Outlook, By Adapter Flanges (2020-2028) ($MN)
41 Europe Pressure Control Equipment Market Outlook, By Wellhead Flanges (2020-2028) ($MN)
42 Europe Pressure Control Equipment Market Outlook, By Other Components (2020-2028) ($MN)
43 Europe Pressure Control Equipment Market Outlook, By Application (2020-2028) ($MN)
44 Europe Pressure Control Equipment Market Outlook, By Offshore (2020-2028) ($MN)
45 Europe Pressure Control Equipment Market Outlook, By Onshore (2020-2028) ($MN)
46 Asia Pacific Pressure Control Equipment Market Outlook, By Country (2020-2028) ($MN)
47 Asia Pacific Pressure Control Equipment Market Outlook, By Type (2020-2028) ($MN)
48 Asia Pacific Pressure Control Equipment Market Outlook, By Low Pressure (2020-2028) ($MN)
49 Asia Pacific Pressure Control Equipment Market Outlook, By High Pressure (2020-2028) ($MN)
50 Asia Pacific Pressure Control Equipment Market Outlook, By Component (2020-2028) ($MN)
51 Asia Pacific Pressure Control Equipment Market Outlook, By Quick Unions (2020-2028) ($MN)
52 Asia Pacific Pressure Control Equipment Market Outlook, By Control Heads (2020-2028) ($MN)
53 Asia Pacific Pressure Control Equipment Market Outlook, By Valves (2020-2028) ($MN)
54 Asia Pacific Pressure Control Equipment Market Outlook, By Christmas Trees (2020-2028) ($MN)
55 Asia Pacific Pressure Control Equipment Market Outlook, By Adapter Flanges (2020-2028) ($MN)
56 Asia Pacific Pressure Control Equipment Market Outlook, By Wellhead Flanges (2020-2028) ($MN)
57 Asia Pacific Pressure Control Equipment Market Outlook, By Other Components (2020-2028) ($MN)
58 Asia Pacific Pressure Control Equipment Market Outlook, By Application (2020-2028) ($MN)
59 Asia Pacific Pressure Control Equipment Market Outlook, By Offshore (2020-2028) ($MN)
60 Asia Pacific Pressure Control Equipment Market Outlook, By Onshore (2020-2028) ($MN)
61 South America Pressure Control Equipment Market Outlook, By Country (2020-2028) ($MN)
62 South America Pressure Control Equipment Market Outlook, By Type (2020-2028) ($MN)
63 South America Pressure Control Equipment Market Outlook, By Low Pressure (2020-2028) ($MN)
64 South America Pressure Control Equipment Market Outlook, By High Pressure (2020-2028) ($MN)
65 South America Pressure Control Equipment Market Outlook, By Component (2020-2028) ($MN)
66 South America Pressure Control Equipment Market Outlook, By Quick Unions (2020-2028) ($MN)
67 South America Pressure Control Equipment Market Outlook, By Control Heads (2020-2028) ($MN)
68 South America Pressure Control Equipment Market Outlook, By Valves (2020-2028) ($MN)
69 South America Pressure Control Equipment Market Outlook, By Christmas Trees (2020-2028) ($MN)
70 South America Pressure Control Equipment Market Outlook, By Adapter Flanges (2020-2028) ($MN)
71 South America Pressure Control Equipment Market Outlook, By Wellhead Flanges (2020-2028) ($MN)
72 South America Pressure Control Equipment Market Outlook, By Other Components (2020-2028) ($MN)
73 South America Pressure Control Equipment Market Outlook, By Application (2020-2028) ($MN)
74 South America Pressure Control Equipment Market Outlook, By Offshore (2020-2028) ($MN)
75 South America Pressure Control Equipment Market Outlook, By Onshore (2020-2028) ($MN)
76 Middle East & Africa Pressure Control Equipment Market Outlook, By Country (2020-2028) ($MN)
77 Middle East & Africa Pressure Control Equipment Market Outlook, By Type (2020-2028) ($MN)
78 Middle East & Africa Pressure Control Equipment Market Outlook, By Low Pressure (2020-2028) ($MN)
79 Middle East & Africa Pressure Control Equipment Market Outlook, By High Pressure (2020-2028) ($MN)
80 Middle East & Africa Pressure Control Equipment Market Outlook, By Component (2020-2028) ($MN)
81 Middle East & Africa Pressure Control Equipment Market Outlook, By Quick Unions (2020-2028) ($MN)
82 Middle East & Africa Pressure Control Equipment Market Outlook, By Control Heads (2020-2028) ($MN)
83 Middle East & Africa Pressure Control Equipment Market Outlook, By Valves (2020-2028) ($MN)
84 Middle East & Africa Pressure Control Equipment Market Outlook, By Christmas Trees (2020-2028) ($MN)
85 Middle East & Africa Pressure Control Equipment Market Outlook, By Quick Unions (2020-2028) ($MN)
86 Middle East & Africa Pressure Control Equipment Market Outlook, By Wellhead Flanges (2020-2028) ($MN)
87 Middle East & Africa Pressure Control Equipment Market Outlook, By Other Components (2020-2028) ($MN)
88 Middle East & Africa Pressure Control Equipment Market Outlook, By Application (2020-2028) ($MN)
89 Middle East & Africa Pressure Control Equipment Market Outlook, By Offshore (2020-2028) ($MN)
90 Middle East & Africa Pressure Control Equipment Market Outlook, By Onshore (2020-2028) ($MN)

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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