"Actionable Insights to Fuel Your Growth"
Gushers were the symbol of oil exploration in 19th and early 20th century. A simple drilling technique is used such as cable-tool drilling and lack of blowout preventer (B.O.P) meant that drillers could not able to control high-pressure reservoirs which results in forcing out the drill string and creating a gusher. Despite the newfound wealth, gushers were dangerous and to prevent catastrophic disaster blowout preventer is very essential. Blowout preventers are developed to cope up with erratic pressures and uncontrolled flow emanating from a well reservoir during drilling. Blowout preventers are critical to the safety of the crew, rig, environment and to the monitoring & maintenance of well integrity. Thus blowout preventer is a critical device to avoid accidents.
To gain extensive insights into the market, Request for Customization
Blowout preventers are classified into two types i.e. Ram and Annular. The annular BOP is usually employed at top of the BOP stack and then two, three or four RAM BOP is mounted below the annular preventer. If the blowout is detected annular BOP is closed first and then RAM is used as a backup if the annular fails. Both the BOP is widely used in a subsea operation, onshore & offshore activities to confine well fluid to the wellbore.
The enormous demand for hydrocarbons has raised the offshore and onshore exploration activities to meet the ever-increasing requisites of oil and gas which is expected the boost the demand for the blowout preventer. The blowout preventer not only ensures the safe operation of wellbore but also prevent ecological damage by arresting the high pressure of well reservoir inflating the demand of blowout preventer in the market.
The unpredictability and fluctuating trend of hydrocarbon prices not only restraint the growth of the oil & gas industry but also cease the new exploration activities which hinder the demand for blowout preventers.
The global leader in blowout preventer market are Schlumberger Ltd., Baker Hughes Inc., Worldwide Oilfield Machine Inc., Halliburton, Weatherford International, National Oilwell Varco, Oceaneering International, Alberta Petroleum Industries Ltd., Kerui Petroleum, Shanghai Shenkai Petroleum and Chemical Equipment Co. Ltd., UZTEL S.A., Control Technology Inc., BOP Products LLC., Aker Solutions, and AXON.
· Ram Blowout Preventer
· Annular Blowout Preventer
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
The global blowout preventer market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America offered a lucrative market for blowout preventer as exploration activities in the US and Canada is very high. The recent oil spillage in the Gulf of Mexico has raised the safety bar to avoid environmental loss and blowout preventer is very essential in the smooth operation of a well reservoir, which is expanding the market of blowout preventers in North America. Europe is implementing toughest laws against violation of environmental and pollution norms. It is essential to install blowout preventer for the effective production of hydrocarbon and monitoring of wellbore increasing the scope of demand for the blowout preventer.
The Asia Pacific is offering a lucrative market for blowout preventers due to heavy investment in the field of exploration and production of hydrocarbon. China is one of the largest nations to produce a high volume of hydrocarbon and discovering new exploration to meet the demand. Therefore, there is huge scope for the demand for blowout preventer in the Asia Pacific. Middle Eastern country’s economy is largely dependent on revenue earned from oil and gas export. Ongoing onshore and offshore activities for the production of hydrocarbons increased the demand for blowout preventers. To increase the production efficiency of a wellbore and offer safety to crew members blowout preventers are essential and most of the companies are employing it on a large scale.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry