Oil & Gas Accumulator Market Projected to Reach $1.43 Billion by 2019 New Report By MarketsandMarkets

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The global oil & gas accumulator market is primarily segmented on the basis of the design type employed into bladder, piston, and diaphragm accumulator. http://www.marketsandmarkets.com/Market-Reports/oil-gas-accumulator-market-84277665.html



Key players are Parker Hannifin Corporation (U.S.), Bosch Rexroth Corporation (U.S.), Tobul Accumulator Inc. (U.S.), Nippon Accumulator Co. Ltd. (U.S.),

The report Oil & Gas Accumulator Market - Global Trends & Forecast to 2019, defines and segments the global oil & gas accumulator market, with an analysis and forecast of the revenue ($million). The oil & gas accumulator market is set to grow from an estimated $0.89 billion in 2014 to $1.43 billion by 2019, at a CAGR of 9.9%.

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North America is estimated to be the largest revenue-generating region for oil & gas accumulators. The U.S. and Mexico will be the major countries to drive the market in this region. Asia-Pacific and Latin America are the key growing markets with high demand for oil & gas accumulators. In the ROW, although various applications such as mud pumps and offshore rigs are growing, the growth rate is low due to a lack of awareness about oil & gas accumulators. These regions, along with regions in the Middle East and Europe, contain prospective future markets for oil & gas accumulators.

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The bladder accumulator is the most widely used type of oil & gas accumulator in the world. Bladder accumulators occupy more than half of the oil & gas accumulator market size, as they are generally preferred in applications such as offshore rigs and blowout preventers. The large market share of the bladder accumulator is attributed to the preference for this type of accumulator on the part of customers. It is expected to continue to occupy a large market share in the future, owing to new API regulations. Some advantages of the bladder accumulator are that it can be used for several offshore applications and has high durability compared to other types of accumulators.

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Blowout preventer is expected to dominate the global oil & gas accumulator market. The accumulators are used in BOPs to prevent fluid loss, as they have a good response time when coping with extreme erratic pressures and uncontrolled flow in the well. In the mud pump application, the accumulator helps to prevent fluid loss, at both the suction head as well as the discharge head.

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