Global Oil and Gas Accumulator Market Surges on the Back of Increasing Exploration and Production Activities

Oil and gas accumulators play a crucial role in the energy industry by providing reliable hydraulic energy storage solutions for various applications. These specialized devices store pressurized hydraulic fluid, offering quick and efficient responses to changes in pressure, ensuring the safe and smooth operation of oil and gas equipment. With applications ranging from blowout preventers and wellhead control systems to offshore drilling rigs, oil and gas accumulators enhance operational safety and efficiency. The market for these accumulators is witnessing growth driven by technological advancements, such as the integration of smart sensors and materials, enabling improved performance and adaptability to harsh operating environments. As the industry strives for sustainable practices, innovations in accumulator design focus on minimizing environmental impact while meeting the evolving demands of the global oil and gas sector. The 2021-2030 period is anticipated to witness a transformative phase in the oil and gas accumulator market, marked by increased adoption of advanced technologies and a shift toward more sustainable energy solutions.

The global oil and gas accumulator market was valued at $488.3 million in 2020 and is projected to reach $814.4 million by 2030, growing at a CAGR of 5.3% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/975

An oil and gas accumulator is a type of hydraulic accumulator that is used to store energy in the form of compressed gas. Bladder accumulators, piston accumulators, and diaphragm accumulators are the types of oil and gas accumulators that are available in the market.

Rising industrial activities have led regulatory bodies, such as the Occupational Safety and Health Administration (OSHA), Pressure Equipment Directive (PED), and others, to put more emphasis on equipment operating under extreme erratic pressure. Several hazards, such as blowouts, explosions, oil spills, and others, occur due to high-pressure fluctuations during exploration and drilling activities. Oil and gas accumulators are widely used to handle high-pressure fluctuations and leakage compensation in oil wells by utilizing the compressible and incompressible nature of nitrogen gas to reduce the risk factors of hazards. These factors are predicted to notably contribute to the global market.

However, the prices of crude oil are controlled by oil traders, current oil supply, and future supply & demand. These factors make crude oil a highly volatile commodity. Natural and man-made disasters have a great influence on the price fluctuations of oil. For instance, attributed to the wake of the COVID-19 pandemic, factories, and manufacturing sites went on a complete shutdown that declined global oil demand.

Many plants were closed or running at reduced rates, which may affect the demand for oil and gas accumulators. In addition, some of the worst affected countries, such as the U.S., India, Brazil, France, Russia, the UK, and others, have experienced very high price fluctuations of crude oil, and thus have reported considerably less demand for oil and gas accumulators amid the COVID-19 period. This factor is anticipated to hamper the oil and gas accumulator market growth.

Oil and gas accumulators are used in onshore applications to assist the flow output of pumps in chemical industries, surge pulsation control, storage and recapture of energy in wind turbines, damping vibrations in loading stations & refineries, and others. The utilization of oil and gas accumulators in sectors, such as loading stations and refineries, chemical industries, wind turbines, and others, is anticipated to create remunerative opportunities for the expansion of the oil and gas accumulator market in the future.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/975

The oil and gas accumulator market is segmented on the basis of type, deployment location, application, and region.

By type, the market is segregated into bladder accumulators, piston accumulators, and diaphragm accumulators. The bladder accumulator type dominated the global market in terms of revenue in 2020, with over 52.6% of the total market share. The increasing global energy need has accelerated offshore oil production. The bladder accumulator being widely used for pressure holding and leakage compensation applications in offshore oil production may lead the oil and gas accumulators market to witness a significant increase in demand.

By deployment location, the global oil and gas accumulator market is classified into offshore and onshore. The offshore deployment segment dominated the global market in terms of revenue in 2020, with over 67.8% of the total market share. The rapid increase in global energy demand has made the oil-producing countries put more emphasis on their oil production capacities. Thus, the use of oil and gas accumulators for pressure control, shock absorption, energy storage, and other applications in drilling and exploration activities may fuel the growth of the oil and gas accumulators in offshore locations.

By application, the market is fragmented into blow-out preventers, drilling rigs, mud pumps, and others. The blow-out prevents applications dominated the global market, with over 45.3% of the total market share in 2020. The utilization of oil and gas accumulators in drilling rigs for controlling, RAMS blow-out preventers (BOP), annular blowout preventers, hydraulically operated gate valves (HCR), and other hydraulic equipment is the major key market trend in the global market. The rising awareness of work safety rules has led key oil manufacturing companies to focus more on the safety of workers and equipment. This has increased the sales of oil and gas accumulators for preventing high-pressure blow-outs during emergencies.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Oil and Gas Accumulator industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐎𝐢𝐥 𝐚𝐧𝐝 𝐆𝐚𝐬 𝐀𝐜𝐜𝐮𝐦𝐮𝐥𝐚𝐭𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

Hydroll
Accumulator, Inc.
HAWE Hydraulik SE
Airmo Inc.
Parker Hannifin Corp
NOK Corporation
Hydac Verwaltung GmbH (Hydac)
Bosch Rexroth AG
Eaton Corporation PLC (Eaton)
Nippon Accumulator Co., Ltd.

Region-wise, the oil and gas accumulator market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific oil and gas accumulator market size is projected to grow at the highest CAGR during the forecast period and account for major oil and gas accumulator market share in 2020. Large oil and gas manufacturing companies are located in China and it has a large number of oil manufacturers such as Sinopec. In addition, other major manufacturers of oil & gas in Asia-Pacific include China National Petroleum Corporation, China National Offshore Oil Corporation, Shaanxi Yanchang Petroleum, and others.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/975

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲:

- The bladder accumulator segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.6% from 2021 to 2030.
- The offshore deployment location type is anticipated to register the highest CAGR of 5.4% during the forecast period.
- The blow-out application segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.3% from 2021 to 2030.
- Asia-Pacific garnered the highest market share of 24.2% in 2020, in terms of revenue, growing at a CAGR of 6.4%

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐄𝐧𝐞𝐫𝐠𝐲 𝐚𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝟏. 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐎𝐢𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.prnewswire.com/news-releases/industrial-oils-market-to-reach-85-9-bn-globally-by-2030-at-3-3-cagr-allied-market-research-301634389.html

𝟐. 𝐎𝐢𝐥 𝐒𝐡𝐚𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/06/13/2461097/0/en/Oil-Shale-Market-Is-Expected-to-Reach-5-9-Billion-by-2030-Allied-Market-Research.html

𝟑. 𝐎𝐢𝐥 𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/03/15/2403073/0/en/Oil-Storage-Market-Is-Expected-to-Reach-18-4-Billion-by-2030-Says-AMR.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

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