According to Stratistics MRC, the Global Pressure Control Equipment market is accounted for $5.4 billion in 2017 and is expected to reach $9.6 billion by 2026 growing at a CAGR of 6.6%.
— Technical development in oilfield equipment and increase in eccentric hydrocarbon production are some of the key factors boosting the growth of the market. However, dropping drilling activities and fix counts are hindering the market growth.
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Based on the component, control head segment to grow at the highest rate as these is mainly used to improve personal protection and surrounding safety. In drilling application, control head provides a minor barrier to the discharge of good fluids on the rig floor and the work over operations involving the use of nitrogen or other gases occasionally use control heads.
Depending on the geography, North America region is predicted to dominate, as the region is the new swing producer in oil markets due to the boost in the manufacturing of both shale process and deepwater exploration.
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Some of the key players in the Pressure Control Equipment market includeThe Weir Group, TIS Manufacturing, Weatherford International, FHE, GKD Industries, Baker Hughes, A Ge Company, Brace Tool, Hunting, Integrated Equipment, IoT Group, Lee SPECialties, National Oilwell Varco, Schlumberger, and The IKM Group.
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Low Pressure (Below 10,000 PSI)
High Pressure (Above 10,000 PSI)
Christmas Tree (Flow Tee)
o Rest of Europe
o New Zealand
o South Korea
o Rest of Asia Pacific
o Rest of South America
Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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