Oil Accumulator Industry Scenario The global oil accumulator market is expected to exhibit a steady 4.8% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global oil accumulator market is studied in detail in the report, which presents readers with a comprehensive overview of the market’s major drivers and restraints, leading segments, and the major players in the market’s competitive leaderboard. Oil accumulators are used as a supplementary energy source in oil and gas industry operations. The hydro-pneumatic equipment stores fluids under extreme pressure, providing backup systems in case of power failures. The growing demand from the oil and gas industry is likely to be the major driver for the global oil accumulator market over the forecast period. The growing demand for shale gas exploration and production in the U.S. and other leading oil producers is likely to be a major driver for the global oil accumulator market over the forecast period. Shale gas exploration has become a vital avenue for the oil and gas industry due to the falling levels of conventional oil and gas reservoirs and the increasing demand to up the production to cater to growing energy needs around the world. This is likely to be a key driver for the global oil accumulator market over the forecast period. Governments around the world are also focusing on developing shale gas E&P infrastructure, which is likely to drive the global oil accumulator market over the forecast period. Competitive Analysis: Leading players in the Oil Accumulator Industry include Hydroll, Roth Hydraulics, Rotec Hydraulics, Hannon Hydraulics, Technetics Group, Freudenberg, Hydac, Bosch, Parker Hannifin, and Eaton. Leading players in the global oil accumulator market are likely to focus on product development as well as mergers and acquisitions over the forecast period due to the need to come up with more efficient oil accumulators for oil and gas industry operations. Global Oil Accumulator Industry Segmentation: The global oil accumulator market is segmented on the basis of type, pressure rating, application, and region. By type, the global oil accumulator industry is segmented into bladder, piston, and diaphragm. The bladder segment is likely to dominate the global oil accumulator market over the forecast period due to the widespread demand for bladder type oil accumulators. By pressure rating, the global oil accumulator market is bifurcated into up to 6000 psi and more than 6000 psi. The up to 6000 psi segment is likely to dominate the global oil accumulator market over the forecast period. By application, the global oil accumulator market is segmented into BOP and wellhead control, offshore rigs, and mud pumps. Regional Analysis:
North America is likely to dominate the global oil accumulator market over the forecast period due to the growing demand for shale gas exploration and production activities in the region. The Gulf of Mexico and Permian Basin, among others, have emerged as crucial sites for onshore as well as offshore exploration in North America, leading to a growing demand for oil accumulators. The share of shale gas in the North American oil and gas industry is also likely to increase over the forecast period due to the increasing emphasis on shale gas production and the growing government support for the same. North America has emerged as the leading producer of shale gas, with the U.S. leading the way. This is likely to remain a major driver for the oil accumulator market in North America over the forecast period. Asia Pacific is also likely to remain a major regional market for oil accumulators, exhibiting the strongest CAGR over the forecast period. The oil and gas industry in Asia Pacific, led by China, has experienced strong growth in the last few years. The growing demand for power in Asia Pacific is likely to further advance the oil and gas industry in the region, thus driving the regional market for oil accumulators. The growing number of offshore oil and gas E&P projects in Asia Pacific is likely to drive the demand from the oil accumulator market in the region over the forecast period. Europe is also likely to hold on to a significant share in the global oil accumulator market over the forecast period, due to the increasing demand for digitalization in the oil and gas industry and the increasing offshore operations in the North Sea. About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. Contact: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune - 411028 Maharashtra, India +1 646 845 9312 Email: sales@marketresearchfuture.com