With a number of operational risks involved in the oil and gas industry, safety is the main concern. Several devices are used for safety purposes such as BOP (Blow out preventers), a bind ram, shear ram, etc to control kick or uncontrolled fluid from the wellbore but these devices are only reliable and effective as the hydraulic that drives them. For precisely the same reason, oil and gas accumulators market is growing, creating a need for good and reliable accumulators. North America is expected to be the biggest market for these accumulators as the region is packed with oil and gas exploration and production activities both onshore and offshore.
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An accumulator is a pressure storage device which holds a non-compressible hydraulic fluid under pressure with the help of an external source such as spring or a raised weight. In oil and gas industry, accumulators are used in various applications such as leakage compensation, noise reduction and pulsation dampening. In a hydraulic system, accumulator helps in reducing the noise cause by a pump. Accumulators for oil and gas industries are available in wide range of material, size, pressure ratings and port configurations depending upon the requirement for various operations.
Oil and Gas Accumulators market can be segmented on the basis of product type into Bladders, Diaphragms and Pistons. Bladders are estimated to have majority of share in this segment. A gas proof elastomer membrane enclosed within a steel shell is a typical design of a bladder accumulator. Piston type accumulator is very versatile due to its ability to be used in over 90% of a potential application. Piston type accumulator can meet the diversified needs of many industries with a standard or custom design. Diaphragm accumulator has a flexible diaphragm as a separation element between the compressible gas cushion and the operating fluid. Accumulators market can be segmented based on its application into BOP, Mud pumps and offshore rigs. In BOP, accumulators are used to prevent fluid losses and BOP is expected to be a major share holder in this segment. Accumulator used on BOP creates and stores the hydraulic pressure needed to close a BOP valve in case of an emergency blowout as the accumulators have good response time which can cope up with extreme pressure and uncontrolled flow in the well. The amount of pressure requires to close a BOP depends upon the type of BOP. In mud pumps, accumulators are used to prevent fluid loss at both side i.e. suction head and discharge head.
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Oil and gas companies are trying to cope up with the rising demand of energy by increasing their drilling activity and production activity. This will increase the demand of various equipments used for drilling and production such as BOP and offshore rigs ultimately creating a demand for accumulators. Oil and gas accumulator market has a huge opportunity with large numbers of exploration and production projects in the near future.
Some of the key companies in Oil and Gas Accumulators market include Hydril Pressure Control, Hydac International Gmbh, Bosch Rexroth Corporation, Tobul Accumulator Inc., Eaton Corporation, Nippon Accumulator Co. Ltd., Parker Hannifin Corporation, Airmo Inc., Hannon Hydraulics, Pressure Technologies, Bolenz & Schafer Gmbh, Accumulators Inc. and among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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