Transparency
Market Research has released a new market report titled Blowout
Preventer (BOP) Market By Configuration (Annular BOP and Ram BOP) and
By Location (Onshore and Offshore) – Global Industry Analysis,
Size, Share, Growth Trends, and Forecast, 2014 – 2022.
According to this report, the global market revenue for BOP stood at
USD 26,096 million in 2013 and is expected to reach USD 38,583.3
million by 2022 at a CAGR of 4.22% from 2014 to 2022.
Complete
Report Blowout Preventer Market with TOC :
http://www.transparencymarketresearch.com/blowout-preventer-market.html
Violation
of laws or international mandates pertaining to the spillage of oil
or oil related products into the environment generally entails
penalties. These penalties vary significantly both at a regional and
national levels. After BP’s Macondo well explosion, exploration
companies have started focusing more on safety equipment. Hydrocarbon
agencies and safety organizations are developing stringent norms to
develop safe operating standards in the exploration and production
sector.. Bulky, heavy, and designed for redundancy, blowout
preventers are the last line of defense against a runaway well. A
blowout preventer or a BOP is a large valve usually redundantly
installed in stacks to monitor, seal, and control oil wells. BOPs are
installed to cope with erratic pressures and uncontrolled flow from
wells during drilling operations.
In
addition to controlling erratic pressures and flow, BOPs also prevent
drilling fluids and tubing from being blown out of the well (during
blowouts). BOPs are vital for the safety of a rig, crew, and the
environment. BOPs can be used by closing the valve, which is
generally operated by a remote control through the hydraulic
actuators. BOPs are used for various purpose and are available in
different styles, sizes and pressure ratings. It is attached to the
well head using flanged or collet connectors and is attached to BOP
control system to ensure that the hydraulic pressure is conveyed to
right place, at a right pressure as quickly as possible.
Blowout
preventers can be used at onshore wells and offshore wells. Oil spill
incidents result in the degradation of surroundings that can be
aquatic life at offshore or soil degradation at onshore locations.
Therefore, pre-oil spill is found to be important in oil and gas
drilling activities. Various practices involved in pre-oil spill
management primarily include the utilization of blowout preventers
for drilling and completion. BOP installation during the drilling
activity has become a primary requirement for any onshore and
offshore oil and gas field.
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Distributors
play a vital role in BOP market. These market entities purchase the
BOPs from manufacturers and subsequently sell them to rig
contractors, oilfield service companies, or directly to E&P
companies. These distributors often maintain a large inventory of
BOPs which they might rent to the end-users. The rental market for
blowout preventers is significantly large since these equipment are
very expensive. As blowout preventers are utilized during drilling
activities, a single BOP may be used numerous times before it is
retired. Hence, distributors have emerged as important entities in
the BOP market, especially in the rental segment. Both manufacturers
and distributors are capable of providing after sales services for
the BOPs they have sold or rented. BOP has emerged as one of the most
important equipment required by the petroleum exploration and
production industry. BOPs are critical components of any offshore or
onshore drilling rig and hence special care needs to be taken during
the manufacture, design, and fabrication of these components
BOPs
can be classified into ram and annular BOP. Annular BOPs are designed
to seal the annular space between the wellbore and the drill pipes.
They are usually installed above the ram BOP. They are also known as
spherical blowout preventers and utilize a hemispherical rubber as a
seal. Annular BOPs are usually not as effective as ram blowout
preventers. Ram blowout preventers use a pair of steel plunger rams
that can extend up to the center of the wellbore to restrict the
flow. The top and inner faces of rams are fitted with elastomeric
elements that clamp together with a great force to seal the wellbore.
Annular BOPs accounted for 68.2% share of the global BOP market in
2013. BOPs can be used in both onshore and offshore wells. In terms
of location, onshore BOPs accounted for 67.6% of the global BOP
market in 2013.
In
the future, the requirement of BOP stacks is expected to rise
gradually as a result of growth in new discoveries of oilfields in
offshore areas of South America and Africa and increasing drilling
activities globally. The global market for BOP is segmented as
follows:
BOP
Market: By Configuration
Annular
BOP
Ram
BOP
BOP
Market: By Location
Onshore
Offshore
BOP
Market: By Region
North
America
U.S.
Rest
of North America
South
& Central America
Brazil
Venezuela
Rest
of South & Central America
Europe
Russia
Kazakhstan
Norway
Rest
of Europe
Asia
Pacific
China
Indonesia
Australia
Rest
of Asia Pacific
Middle
East & Africa
Saudi
Arabia
Nigeria
Rest
of Middle East & Africa
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