07 April 2021
The new report the Pressure Control Equipment Market Report to 2031: Forecasts by Type (High Pressure (Above 10,000 psi) and Low Pressure (Below 10,000 psi)), Application (Onshore and Offshore), by Region, Country and Profiles of Leading Companies indicates that the Global Pressure Control Equipment Market will see $ XX bn in spending in 2020.
The lead analyst of the report said: "The Pressure Control Equipment Market is about to enter a period of phenomenal growth and innovation. The next ten years will see the upsurge demand for the pressure control equipment."
Pressure control equipment is widely used in industrial settings. There are various types of pressure control equipment available in the market today. This includes manual wireline valve, wireline pressure control equipment, wellhead flange, hydraulic wireline valve, tool catcher, and stuffing box, among others. Pressure control equipment is used in onshore and well-intervention operations to excavate oil and gas products. Pressure control equipment helps achieve safe and more efficient drilling operations at a lower cost.
Technological advancement in oil field equipment, an increase in global investments in exploration and production (E&P), and a rise in unconventional hydrocarbon production are expected to lead the growth of market during the forecast period. The growing adoption of pressure control equipment in the oil & gas industry for drilling operation is one of the key trend for the global pressure control equipment market. The demand for pressure control equipment for onshore operation is primarily dominated by North America, the Middle East, and Asia owing to rising demand for oil & gas.
The imposed lockdown policies are profoundly impacting the sales and supply chain of the pressure control equipment worldwide. Also, the high financial losses of companies owing to the COVID-19 virus may reduce the additional requirement for the demand for pressure control equipment in the market during the forecast period to maintain the positive cash flow.
The XX page report contains 66 tables and 169 graphs that add visual analysis in order to explain developing trends within the pressure control equipment market. The report provides $ XX bn forecasts during the forecast period 2021-2031 for the pressure control equipment submarkets, namely by type, i.e., high pressure (above 10,000 psi) and low pressure (below 10,000 psi).
The XX page report offers market forecasts and analysis for 24 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies' chapter covering more than 15 companies leading the field in the pressure control equipment.
The global pressure control equipment market 2021-2031 report will be of value to anyone who wants to understand better the pressure control equipment market and its various segments. It will be useful for businesses who wish to comprehend the part of the market better they are already involved in, or those wishing to enter or expand into a different regional or technical aspect of the pressure control equipment industry.
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