Pressure Control Equipment Market Size, Share, Trends, Growth 2032

Pressure Control Equipment Industry Prospective:

The global pressure control equipment market size was worth around USD 4.09 billion in 2023 and is predicted to grow to around USD 6.92 billion by 2032 with a compound annual growth rate (CAGR) of roughly 6% between 2024 and 2032.

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In order to offer the users of this report, a comprehensive view of the pressure control equipment market, we have enclosed a detailed value chain analysis. To know the competitive landscape within the market, an analysis of Porter’s Five Forces model for the pressure control equipment market has additionally been enclosed within the study. The study includes a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Pressure Control Equipment Market: Growth Drivers

Pressure control equipment is used for maintaining pressure control over the well during the operations. Pressure control is the simplest method of reducing leakage. This equipment is used for controlling the pressure and monitoring healthy fluids flow during the drilling and manufacture phase. This pressure control equipment is largely used by the oil and gas industry across the globe.

The global pressure control equipment market is projected to grow at a fast pace in the next few years, owing to the substantial technological developments witnessed related to oil field equipment. Moreover, the rising global investments for exploration and production activities are expected to further drive the pressure control equipment market growth in the years ahead. However, the customized demands by drillers may hamper the pressure control equipment market growth in the future.

Alternatively, the increasing demand for pressure control equipment for emerging offshore applications is projected to offer lucrative opportunities for the players operating in the global pressure control equipment market in the future.

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The study also includes the market share of the key participants operating in the pressure control equipment market across the globe. Additionally, the report covered the strategic development together with acquisitions & mergers, agreements, partnerships, collaborations, and joint ventures, and regional growth of key players within the market on a regional basis.

Pressure Control Equipment Market: Segmentation

The global pressure control equipment market is classified based on component, type, and application.

The component segment of the pressure control equipment market includes wellhead flanges, control heads, valves, quick unions, Christmas trees, and adapter flanges. In 2018, the wellhead flanges component segment held the largest market share of the global pressure control equipment market.

By type, the market includes high pressure and low pressure. The high-pressure type segment is projected to grow at the fastest pace over the forecast time period.

By application, the global pressure control equipment market is segmented into offshore and onshore. The offshore segment is expected to show the highest CAGR in the future.

Pressure Control Equipment Market: Report Scope

Pressure Control Equipment Market: Regional Analysis

Additionally, the regional classification includes Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.

By region, North America was the largest contributor to the global pressure control equipment market in 2018 and is expected to dominate throughout the forecast timeframe. This regional growth can be attributed to the increased drilling activities in key shale basins and the inception of several new projects. The Middle East and Africa was the second largest regional market for pressure control equipment market, followed by Europe in 2018. The European pressure control equipment market is expected to grow considerably in the upcoming years, owing to the rising demand for pressure control equipment in the offshore application in the UK, Germany, Denmark, and Norway.

Pressure Control Equipment Market: Competitive Analysis

The major players operating in the global pressure control equipment market include:

• Baker Hughes
• The IKM Group
• Weatherford International
• Brace Tool
• Schlumberger
• National Oilwell Varco
• Lee Specialties
• The Weir Group
• TIS Manufacturing
• Hunting
• GKD Industries
• Brace Tool

This report segments the global pressure control equipment market into:

Global Pressure Control Equipment Market: Component Analysis

• Valves
• Control Heads
• Quick Unions
• Wellhead Flanges
• Christmas Trees
• Adapter Flanges

Global Pressure Control Equipment Market: Type Analysis

• High Pressure
• Low Pressure

Global Pressure Control Equipment Market: Application Analysis

• Onshore 
• Offshore

Global Pressure Control Equipment Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa