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Pulished Date July, 2021
ID: 11770
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Pressure Control Equipment market segmentation by Component (wireline valves, control heads, quick unions, flow tree, wellhead flanges, adapter flanges, others) By Type (high pressure, low pressure) By Application (onshore, offshore) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026.

Pulished: July, 2021
ID: 11770
Pages: 175

Pressure Control Equipment Market Size, Trends & Growth (2021 - 2026)

Pressure control equipment is used to maintain pressure at an optimal level and withstand the harsh conditions within a well. Strict quality standards are maintained in the manufacture of pressure control equipment. Different types of pressure control equipment are used for well interstation, as well as for workover operations such as hydraulic cable valve, fluid chamber, manual line valve, pressure control equipment, cable pressure, manual couplings, etc.

Factors such as the growing demand for advanced technologies, tools and equipment to increase the efficiency of exploration and production activities in onshore and offshore areas are expected to drive the pressure control equipment market. However, the volatility of oil prices in the recent period, due to the gap between supply and demand, geopolitics and several other factors, has slowed the growth of the demand of the control equipment market. The number of active rigs has increased in recent years, from around 920 active rigs in September 2016 to 1130 in September 2019, showing an increase in drilling activity and therefore in the equipment market of pressure control. Valves are widely used for industrial applications, to control the flow of any fluid through a system. In industries, valves are used to start, accelerate or stop fluid flow to ensure safe and efficient operation. Increased demand from the industrial sector has also fueled the growth of the pressure control equipment market.

Recent Developments:

  • National Oilwell Varco (NOV) ASEP Elmar announced the first field operation of its new working high pressure (WPCE) wired pressure monitoring equipment in an ultra-deep HPHT gas well on the Gulf of Mexico shelf.
  • Baker Hughes Announces the Sale of its Surface Pressure Monitoring Business to Pelican Energy.
  • GE Oil & Gas agreed to acquire the Hydril Pressure Control business from Tenaris. The acquisition will expand GE's oil and gas portfolio and complement VetcoGray's drilling equipment, GE says.

Drivers and Restraints of Pressure Control Equipment Market:

Drivers:

The increasing adoption of pressure control equipment in the oil and gas industry for drilling operations is one of the main drivers of the global pressure control equipment market. The demand for pressure control equipment for onshore operations is dominated primarily by North America, the Middle East and Asia due to the increasing demand for oil and gas. In addition, pressure control equipment is used in land applications to safely perform drilling operations below the surface of the earth. Operating conditions below the earth's surface are considered volatile because this equipment is manufactured to strict industry standards to prevent accidents. In the oil and gas industry, control heads are used to divert flow from the wellhead through the open pit mining facility. The primary use of control heads in drilling applications is to provide increased personnel safety and environmental protection. Therefore, considering the advantages mentioned above offered by pressure control equipment in land applications, the PCE market is expected to expand during the forecast period.

Restraints:

However, lack of experience and limited availability of advanced technology are factors that are expected to hamper the growth of the global automotive equipment market.

Pressure Control Equipment Market Segmentation:

By Component:

  • Wireline Valves
  • Control Heads
  • Quick Unions
  • Flow Tree
  • Wellhead Flanges
  • Adapter Flanges
  • Others

Among the component segments, the control head segment is expected to experience strong revenue growth in the near future. The control head helps to improve environmental protection and human safety is a key growth factor for this segment in the target market.

By Type:

  • High Pressure
  • Low Pressure

By Application:

  • Onshore
  • Offshore

The steel industry has also grown in recent years, with China, Japan and India occupying the top three places in steel production. Pressure control equipment is used to control water pressure or water flow to a mold and other times to control the amount of air in a casting process to maintain a specific temperature. With almost all the easy oil already discovered, the wells being drilled are deeper and more complex than ever, deepwater and ultra-deepwater drilling operations are also on the rise. Both factors have led to a growth in demand in the oil services market. Pipelines are one of the most integrated devices in various industries, such as oil and gas, refineries, and power generation, to transport media from its source to where it will be used or transformed into final products. There are thousands of miles of critical pipelines around the world to transport oil and gas, LNG, etc. These pipelines operate on land.

Pressure Control Equipment Market Region wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada

Currently, the North American market represents a significant share in terms of revenue and is expected to maintain its dominance over the forecast period. The increase in the number of drilling activities for the extraction of gas from shellfish is a key factor in the growth of the target market, especially in the United States in this region.

  1. Europe
    1. Norway
    2. Germany
    3. Sweden
  2. Asia Pacific
    1. China
    2. India
    3. Japan

Particularly driven by the demand for oil in developing countries, which is expected to exceed that of industrialized countries in the near future, mainly due to strong demand from China, India and other developing countries in Asia that continue to experience growth of strong economic growth. The market is expected to grow as the number of wells drilled increases due to increased coal seam gas and shale gas exploration activity and lucrative oil and gas prices. China is also expected to strengthen its pipeline network, to increase the share of clean fuel in the country's energy mix, during the forecast period. Therefore, the increasing demand and new pipeline infrastructure in Asia-Pacific are among the main factors driving the growth of the pressure control equipment market.

  1. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  2. Middle East and Africa

a. Middle East

b. Africa

The Middle East and Latin America market is expected to experience lucrative growth in terms of revenue in the near future. The increase in exploration and production activities in the countries of this region is an important factor supporting the growth of the target market.

Key Players of Market:

Some of the key players operating in the global pressure control equipment market are Pressure Control Systems Ltd., Baker Hughes, Schlumberger Limited, National Oilwell Varco, The Weir Group PLC, Lee Specialties, Brace Tool, and FHE USA LLC.

IMPACT OF COVID-19 ON PRESSURE CONTROL EQUIPMENT MARKET:

The COVID-19 pandemic is expected to slow market growth, particularly in 2020, due to lockdowns in various countries around the world. Due to the rapid decline in demand for various industry products, including crude oil, natural gas, steelmaking, etc., the demand for pressure control equipment will also decline. Large industry companies like Baker Hughes (a GE company) are embracing remote working whenever possible and working closely with customers, suppliers, and vendors to minimize operational disruptions.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Pressure Control Equipment Market, By Type                 

                    6.1.1 High Pressure

                    6.1.2 Low Pressure 

                    6.1.3 Market Size Estimations & Forecasts (2021-2026)        

                    6.1.4 Y-o-Y Growth Rate Analysis         

                    6.1.5 Market Attractiveness Index         

          6.2 Pressure Control Equipment Market, By Application                  

                    6.2.1 Onshore        

                    6.2.2 Offshore        

                    6.2.3 Market Size Estimations & Forecasts (2021-2026)        

                    6.2.4 Y-o-Y Growth Rate Analysis         

                    6.2.5 Market Attractiveness Index         

          6.3 Pressure Control Equipment Market, By Component                 

                    6.3.1 Wireline Valves        

                    6.3.2 Control Heads

                    6.3.3 Quick Unions 

                    6.3.4 Flow Tree      

                    6.3.5 Wellhead Flanges     

                    6.3.6 Adapter Flanges       

                    6.3.7 Others 

                    6.3.8 Market Size Estimations & Forecasts (2021-2026)        

                    6.3.9 Y-o-Y Growth Rate Analysis         

                    6.3.10 Market Attractiveness Index       

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Type         

                    7.2.3 By Application

                    7.2.4 By Component         

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Type         

                    7.3.3 By Application

                    7.3.4 By Component         

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Type         

                    7.4.3 By Application

                    7.4.4 By Component         

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Type         

                    7.5.3 By Application

                    7.5.4 By Component         

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Type         

                    7.6.3 By Application

                    7.6.4 By Component         

8. Key Player Analysis                           

          8.1 Pressure Control Systems Ltd.                   

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Baker Hughes             

          8.3 Schlumberger Limited           

          8.4 National Oilwell Varco           

          8.5 The Weir Group PLC              

          8.6 Lee Specialties            

          8.7 Brace Tool                  

          8.8 FHE USA LLC               

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by end-user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Pressure Control Equipment Market By Region, From 2021-2026 ( USD Billion )
  2. Global Pressure Control Equipment Market By Type, From 2021-2026 ( USD Billion )
  3. Global High Pressure Market By Region, From 2021-2026 ( USD Billion )
  4. Global Low Pressure Market By Region, From 2021-2026 ( USD Billion )
  5. Global Pressure Control Equipment Market By Application, From 2021-2026 ( USD Billion )
  6. Global Onshore Market By Region, From 2021-2026 ( USD Billion )
  7. Global Offshore Market By Region, From 2021-2026 ( USD Billion )
  8. Global Pressure Control Equipment Market By Component, From 2021-2026 ( USD Billion )
  9. Global Wireline Valves Market By Region, From 2021-2026 ( USD Billion )
  10. Global Control Heads Market By Region, From 2021-2026 ( USD Billion )
  11. Global Quick Unions Market By Region, From 2021-2026 ( USD Billion )
  12. Global Flow Tree Market By Region, From 2021-2026 ( USD Billion )
  13. Global Wellhead Flanges Market By Region, From 2021-2026 ( USD Billion )
  14. Global Adapter Flanges Market By Region, From 2021-2026 ( USD Billion )
  15. Global Others Market By Region, From 2021-2026 ( USD Billion )

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