Global Subsea Blowout Preventer (BOP) Market Growth 2023-2029

Global Subsea Blowout Preventer (BOP) Market Growth 2023-2029

BOP is a high pressure mechanical safety valve system at the top of a well head, which prevents uncontrolled fluid flow in the well bore. This device is essential in the oil and gas industry as it monitors and controls pressure while drilling and is the last line of defense to prevent any subsea leakages or surface explosions. A BOP stack consists of two types of BOPs, annular BOP and ram BOP. An annular BOP is placed at the very top of the stack and then two, three, or four ram BOPs are placed below the annular BOP. BOP stack contains the wellbore fluids either in the annular space amid casing and tubing or in an exposed hole during drilling, completion, and testing operations.

LPI (LP Information)' newest research report, the “Subsea Blowout Preventer (BOP) Industry Forecast” looks at past sales and reviews total world Subsea Blowout Preventer (BOP) sales in 2022, providing a comprehensive analysis by region and market sector of projected Subsea Blowout Preventer (BOP) sales for 2023 through 2029. With Subsea Blowout Preventer (BOP) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Subsea Blowout Preventer (BOP) industry.

This Insight Report provides a comprehensive analysis of the global Subsea Blowout Preventer (BOP) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Subsea Blowout Preventer (BOP) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Subsea Blowout Preventer (BOP) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Subsea Blowout Preventer (BOP) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Subsea Blowout Preventer (BOP).

The global Subsea Blowout Preventer (BOP) market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

Rising subsea drilling activities and the necessity for effective oil and gas production propel the demand for blowout preventers systems. Growing demand for hydrocarbons accelerates the drilling activities, which in turn leads to the increasing demand for blowout preventers and drilling equipment. In order to optimize the extra expenditures and costs, efficient production of oil and gas is utmost important at the onshore and offshore fields. Growing number of safety regulations and attention towards the efficiency of the end-products play a vital role in the growth of the blowout preventers. The aforementioned reasons are expected to boost the demand for blowout preventers and thus in turn pushing the growth of the global blowout preventers market.

This report presents a comprehensive overview, market shares, and growth opportunities of Subsea Blowout Preventer (BOP) market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Annular Blowout Preventer
Ram Blowout Preventer

Segmentation by application
Oil Industry
Gas Industry

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
GE Oil & Gas
Cameron
National Oilwell Varco
Uztel
Rongsheng Machinery
Halliburton
OJSC NaftaGaz
MSP/DRILEX
Jiangsu Xinde
Fountain Petro
Control Flow
GCOP
Jiangsu Jinshi
Well Control
Shenkai
NETS
Yantai Jereh Petroleum Equipment & Technologies

Key Questions Addressed in this Report

What is the 10-year outlook for the global Subsea Blowout Preventer (BOP) market?

What factors are driving Subsea Blowout Preventer (BOP) market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Subsea Blowout Preventer (BOP) market opportunities vary by end market size?

How does Subsea Blowout Preventer (BOP) break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.