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Global Oil and Gas Accumulator Market 2017-2021

Global Oil and Gas Accumulator Market 2017-2021

About Oil and Gas Accumulator

Oil and gas is one of the biggest sectors in the world in terms of revenue generation. The industry includes a majority of the national oil companies that generate billions of dollars, which contributes significantly toward the economic development of any country. Several industries are dependent on the oil and gas sector, which require either the final petroleum product or general oil and gas services. This industry is responsible for providing thousands of jobs, and its success or failure has a huge impact on several industries. An accumulator is a pressure storage reservoir, which stores a specific amount of fluid that is under pressure. This fluid is later released to perform a specific operation in the hydraulic system.

Technavio’s analysts forecast the global oil and gas accumulator market to grow at a CAGR of 3.65% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global oil and gas accumulator market for 2017-2021. To calculate the market size, the report considers the number of active rig count across the world.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Oil and Gas Accumulator Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Bosch Rexroth
  • Eaton
  • Freudenberg Sealing Technologies
  • NIPPON ACCUMULATOR
  • PARKER HANNIFIN
Other prominent vendors
  • Airmo
  • Accumulators
  • General Electric
  • HANNON HYDRAULICS
  • Hydac International
  • Roth Industries
  • TECHNETICS
Market driver
  • Increase in oil rig count
  • For a full, detailed list, view our report
Market challenge
  • Uncertainties associated with low crude oil prices
  • For a full, detailed list, view our report
Market trend
  • IoT in accumulators
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Oil and Gas Accumulator Market 2017-2021

Technavio recognizes the following companies as the key players in the global oil and gas accumulator market: Bosch Rexroth, Eaton, Freudenberg Sealing Technologies, NIPPON ACCUMULATOR, and PARKER HANNIFIN

Other Prominent Vendors in the market are: Airmo, Accumulators, General Electric, HANNON HYDRAULICS, Hydac International, Roth Industries, and TECHNETICS.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is IoT in accumulators. The oil extraction process involves different types of moving devices, and the operations are manual and labor intensive. As a result, the application of IoT-enabled solutions can deliver real cost savings and increase the production for owner-operators, independent E&P players, and related stakeholders operating in the oil field. IoT-enabled solutions that provide remote monitoring, inform whether the artificial lift is working and whether or not the fluid is flowing, reduce the need to visit the site. With the introduction of IoT and analytics-enabled solutions in oil extraction, the production will become more optimized and result in increased profit margins”

According to the report, one of the major drivers for this market is Increase in oil rig count. During 2014, when the crude oil price was trading over $110/bbl, the global rig count was at its peak. Several exploration and drilling projects were being executed; some in the initial stages of production, and other new ones in the planning stage. For instance, in 2014, Shell announced its initiation of production from the second Mars platform in the deepwater Gulf of Mexico. The production was through Olympus, which is the company's seventh and largest floating deep-water platform in the Gulf of Mexico. However, this was soon offset by the continuous decline in the oil price. The decline in crude oil price reduced the companies' profit margins. This, in turn, had a severe impact on the cash flow of the organizations. As a result, new drilling and production projects were put on hold till the oil prices stabilized. Several deep and ultra-deepwater projects that were estimated to be worth over hundreds of billion dollars were called off across the world.

Further, the report states that one of the major factors hindering the growth of this market is Uncertainties associated with low crude oil prices. Volatility in the price of crude oil has a severe impact on the performance of the upstream oil and gas sector. The continued trend of low crude prices since mid-2014 has put additional pressure on oil and gas service providing companies. The companies have experienced a phase of reduced revenues, which directly impacts the financial aspect of any company. Though integrated oil companies were still able to absorb some of the pressure because of the increased revenue from the downstream sector, pure upstream companies have been affected the most.

Companies Mentioned

Bosch Rexroth, Eaton, Freudenberg Sealing Technologies, NIPPON ACCUMULATOR, and PARKER HANNIFIN, Airmo, Accumulators, General Electric, HANNON HYDRAULICS, Hydac International, Roth Industries, and TECHNETICS.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Market outline
      • Table Major segments of oil and gas industry
      • Table Bladder accumulator
  • Market landscape
    • Market ecosystem
      • Table Parent market
      • Table Global oil and gas accumulator market
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2016
      • Table Market size 2016
      • Table Validation techniques employed for market sizing 2016
    • Market size and forecast 2016-2021
      • Table Global oil and gas accumulator market - Market size and forecast 2016-2021 ($ millions)
      • Table Global oil and gas accumulator market - Year-over-year growth 2017-2021 (%)
      • Table Petroleum upstream activity stages
      • Table Reasons for low crude oil prices
  • Five forces analysis
    • Table Five forces analysis 2016
    • Table Five forces analysis 2021
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2016
  • Market segmentation by end-user
    • Segmentation by end-user
      • Table End-user - Market share 2016-2021 (%)
    • Comparison by end-user
      • Table Comparison by end-user
    • Onshore - Market size and forecast 2016-2021
      • Table Onshore - Market size and forecast 2016-2021 ($ millions)
      • Table Onshore - Year-over-year growth 2017-2021 (%)
    • Offshore - Market size and forecast 2016-2021
      • Table Offshore - Market size and forecast 2016-2021 ($ millions)
      • Table Offshore - Year-over-year growth 2017-2021 (%)
    • Market opportunity by end-user
      • Table Market opportunity by end-user
  • Market segmentation by application
    • Segmentation by application
  • Regional landscape
    • Geographical Segmentation
      • Table Regional - Market share by geography 2016-2021 (%)
    • Regional comparison
      • Table Regional comparison
    • Americas - Market size and forecast 2016-2021
      • Table Americas - Market size and forecast 2016-2021 ($ millions)
      • Table Americas - Year-over-year growth 2017-2021 (%)
    • EMEA - Market size and forecast 2016-2021
      • Table EMEA - Market size and forecast 2016-2021 ($ millions)
      • Table EMEA - Year-over-year growth 2017-2021 (%)
    • APAC - Market size and forecast 2016-2021
      • Table APAC - Market size and forecast 2016-2021 ($ millions)
      • Table APAC - Year-over-year growth 2017-2021 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Global rig count based on geographic region 2014-2017
      • Table Comparison - Conventional vs. unconventional sources
    • Market challenges
      • Table Global crude oil price 2012-2017 ($/barrel)
      • Table Volatility in steel prices
      • Table Global investment in renewable energy supply 2000-2016 ($ billions)
  • Market trends
    • IoT in accumulators
    • Rise in deep and ultra-deepwater drilling projects
    • Introduction of laser drilling
  • Vendor landscape
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
    • Bosch Rexroth
      • Table Bosch Rexroth: Key products
      • Table Bosch Rexroth: Key news
    • Eaton
      • Table Eaton: Key products
      • Table Eaton: Key news
    • Freudenberg Sealing Technologies
      • Table Freudenberg Sealing Technologies: Key products
    • NIPPON ACCUMULATOR
      • Table NIPPON ACCUMULATOR: Key products
    • PARKER HANNIFIN
      • Table PARKER HANNIFIN: Key products
      • Table PARKER HANNIFIN: Key news
  • Appendix
    • List of abbreviations
  • Explore Technavio

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