Pressure Control Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2027

The pressure control equipment market is expected to grow at a CAGR of over 6.1% during the forecast period of 2021–2027. Factors such as increase in demand for advanced technology, tools and equipment to increase efficiency of exploration and production activities in onshore and offshore areas is expected to drive the market for pressure control equipment market. However, the volatile oil prices over the recent period, owing to the supply-demand gap, geopolitics and several other factors has been restraining the growth in the demand for pressure control equipment market.

 

The COVID-19 pandemic is expected to dent the growth of the market particularly in 2020 due to lockdown across various countries across the globe. Due to the rapid decline in the demand of various industry goods including crude oil, natural gas, steel manufacturing etc the demand for pressure control equipment will also decline. Major companies in the industry such as Baker Hughes adopting remote working wherever possible and is working closely with customers, suppliers, and vendors to minimize operational disruption.

Pressure Control Equipment Market Segmentations

 

By Type

• High pressure
• Low pressure

By Application

• Onshore
• Offshore

By Region

North America

• US
• Canada
• Mexico

South America

• Brazil
• Argentina

Market Players

• Baker Hughes (GE)
• Brace Tool
• Control Flow, Inc.
• Hunting PLC
• Lee Specialties
• National Oilwell Varco
• Schlumberger Limited
• The Weir Group PLC
• TIS Manufacturing
• Weatherford International plc

Key Questions Answered by Pressure Control Equipment Market Report

• What was the Pressure Control Equipment Market in 2020 and 2021; what are the estimated growth trends and market forecast (2021-2027).
• What will be the CAGR of Pressure Control Equipment Market during the forecast period (2021-2027)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2021-2027)?
• Which manufacturer/vendor/players in the Pressure Control Equipment Market was the market leader in 2018?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.