Scope of the Study
Oil accumulator is defined as the oil pressure pneumatic device container that acts like a reservoir which is released as soon as there is a drop in oil pressure. It is widely used in various application such as blow out preventer & wellhead control, offshore rigs, and mud pumps. The rising number of oils spills, high drilling activities and increase in the number of offshore oil & gas exploration and production activities are projected to drive the global oil accumulator market over the forecast period.
The market study is being classified by Type (Bladder Accumulator, Piston Accumulator and Diaphragm Accumulator), by Application (Blow Out Preventer & Well Head Control, Offshore Rigs and Mud Pumps) and major geographies with country level break-up.
Hydac International Gmbh (Germany), Parker Hannifin (United States), Eaton (Ireland), Freudenberg (Germany), Bosch Rexroth (Germany), Nippon Accumulator (Japan), Technetics Group (United States), Hannon Hydraulics (United States), Rotec Hydraulics Ltd (United Kingdom) and Roth Hydraulics GmbH (Germany) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Pressure Technologies PLC (United Kingdom) and Airmo Inc. (United States).
Oil accumulator market is characterized as a highly fragmented industry owing to the presence of multiple global as well as regional players. Some of the major players of this market are Hydac International Gmbh (Germany), Parker Hannifin (United States), Eaton (Ireland), among others Research Analyst at AMA predicts that Germany and United States Manufacturers will contribute to the maximum growth of Global Oil Accumulator market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Oil Accumulator market by Type, Application and Region. On the basis of Type, Bladder Accumulator are dominating the market in the year 2018
On the basis of application, Blow Out Preventer & Well Head Control segment is dominating the market in the year 2018
On the basis of geography, the market of Oil Accumulator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. If we see Market by Pressure Rating, the sub-segment i.e. Up to 6 will boost the Oil Accumulator market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Digital Revolution in the Oil & Gas Industry as well as Shale Gas Exploration Boom in the United States
- Increasing Usage of Oil Accumulator in Various Application such as Blow Out Preventer & Well Head Control
- Growing Safety Concerns as well as Numerous Environmental Threats Related with Oil & Gas
- Issue related to Transition to Renewable Sources of Energy and stringent environmental regulations
- Growing Demand from Emerging Market such as China, India, Brazil, Philippines, among others
- Increase in Number of Offshore Oil & Gas Exploration and Sand Production Activities
- Oversupply of Oil is major problem for market growth
In February 2017, the Parker Hannifin Corporation (United States) Company has acquired CLARCOR Inc. (United States), which is a major manufacturer of filtration products, for more than USD 4.3 billion in cash which also included the assumption of net debt. Therefore, this acquisition will affect the growth of the market in the future.
Key Target AudienceOil & Gas Manufacturing Companies, Consulting Companies in the Power and Oil & Gas Sector, Government and Research Organizations, Energy and Environmental Associations, State- Or Government-Owned Corporations, Power Distribution Companies and Others
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