Global Surface Safety Valve Market Overview:
Surface safety valve is an automated safety system to ensure the safe exploitation and transportation of oil and gas. It quickly shut down the well upstream in situation like overpressure, leakage, failure or any other emergencies. According to the United States Energy Information Administration, the number of gas-producing oil wells in 2017 was 191,131 and has increased to 195,754 in 2018. So it indicates that number of wells drilled is increasing and leads to the growth in surface safety valve.
- The Rapid Growth in Oil and Gas Industries
- Ease of Maintenance and Operations Using Surface Safety Valve
- Rising Trend for Emergency Shut Down Device (ESD)
- The Number of Oil and Gas Wells Drill Is Increasing
- Growing Use for Used for Well Testing with High FlČow Rates
- Increasing Demand for Hydraulic Surface Safety Valve
- Excessive Backpressure may Damage the Surface Safety Valve
Some of the key players profiled in the report are Omni Valve (United States), Uztel S.A. (Romania), Stream-Flo (Canada), SHENG JI GROUP (China), National Oilwell Varco (United States), Trade Circle Ent LLC (United Arab Emirates), Yantai Jierui Petroleum Equipment Technology Co Ltd (China), Benoston Machinery Co., Ltd. (China), KERGY OILFIELD EQUIPMENT CO. LTD (China), Luoyang Runcheng Petrochemical Equipment Co., Ltd. (China), Yancheng Qihang Petroleum Machinery Co., Ltd (China), HEBEI DIDLINK INDUSTRY CO.LTD. (China), MCM OIL TOOLS, Inc. (United States) and PARVEEN INDUSTRIES PVT LTD (India). Analyst at AdvanceMarketAnalytics see North America and Asia Pacific Manufacturers to retain maximum share of Global Surface Safety Valve market by 2025. Considering Market by Usage, the sub-segment i.e. Offshore well testing will boost the Surface Safety Valve market. Considering Market by Working Pressure, the sub-segment i.e. 5000 psi will boost the Surface Safety Valve market.
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Surface Safety Valve market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Surface Safety Valve market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners and Providers, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.