September 23, 2021 08:45 ET | Source: United Market Research United Market Research
Portland, Oregon, September 23, 2021 (GLOBE NEWSWIRE) - According to a report released by Allied Market Research, the global oil and gas accumulator market generated USD 488.3 million in 2020 and is expected to reach 8.144 by 2030 Billion US dollars, witnessed a compound annual growth rate of 5.3% from 2021 to 2030. The report analyzes in detail the ever-changing market dynamics, top market segments, value chains, key investment areas, regional scenarios and competitive landscape.
The surge in exploration and production activities and increased awareness of work safety habits have promoted the growth of the global oil and gas storage tank market. However, the transition to renewable energy and the high volatility of oil and gas prices have restrained the market to some extent. On the other hand, the increase in investment in onshore and offshore projects will bring new opportunities for the next few years.
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The report provides a detailed breakdown of the global oil and gas accumulator market based on type, deployment location, application, and region.
According to the application, the BOP segment has the highest market share in 2020, accounting for more than two-fifths of the total market share, and it is expected to continue to maintain its leading position during the forecast period. However, the drilling platform sector is expected to have the highest compound annual growth rate from 2021 to 2030, at 5.6%.
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From the perspective of deployment position, the maritime business will have the largest market share in 2020, accounting for more than two-thirds of the total market share, and it is expected to continue to maintain its leading position during the forecast period. In addition, this segment is expected to have the highest compound annual growth rate from 2021 to 2030, at 5.4%.
By region, North America has the highest revenue share in 2020, accounting for more than two-fifths of the total market share, and is expected to continue to dominate by 2030. However, LAMEA is expected to perform the fastest at a compound annual growth rate of 6.6% during the forecast period.
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The leading companies in the global oil and gas accumulator market analyzed in the study include Accumulators Inc., Airmo Inc., Bosch Rexroth AG, Eaton Corporation PLC (Eaton), HAWE Hydraulik SE, Hydac Verwaltung GmbH (Hydac), Hydrol, Nippon Accumulator Co. , Ltd, NOK Corporation and Parker Hannifin Corp.
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Allied Market Research (AMR) is the full-service market research and business consulting division of Allied Analytics LLP, headquartered in Portland, Oregon. Allied Market Research provides unparalleled quality "market research reports" and "business intelligence solutions" for global enterprises and small and medium enterprises. AMR provides targeted business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market sectors.
We have established professional business relationships with many companies, which helps us to mine market data, thereby helping us generate accurate research data tables and confirm the highest accuracy of our market forecasts. Pawan Kumar, CEO of Allied Market Research, has played an important role in motivating and encouraging everyone associated with the company to maintain high-quality data and help customers succeed in every possible way. Every piece of data presented in our published report is extracted through preliminary interviews with senior officials of leading companies in related fields. Our secondary data procurement method includes in-depth online and offline research and discussions with knowledgeable professionals and analysts in the industry.
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