Oil Accumulator Industry Scenario
The global oil accumulator market is expected to exhibit a steady 4.8% CAGR over the forecast
period from 2018 to 2023, according to the latest research report from Market Research Future
(MRFR). The global oil accumulator market is studied in detail in the report, which presents
readers with a comprehensive overview of the market’s major drivers and restraints, leading
segments, and the major players in the market’s competitive leaderboard.
Oil accumulators are used as a supplementary energy source in oil and gas industry operations.
The hydro-pneumatic equipment stores fluids under extreme pressure, providing backup systems
in case of power failures. The growing demand from the oil and gas industry is likely to be the
major driver for the global oil accumulator market over the forecast period.
The growing demand for shale gas exploration and production in the U.S. and other leading oil
producers is likely to be a major driver for the global oil accumulator market over the forecast
period. Shale gas exploration has become a vital avenue for the oil and gas industry due to the
falling levels of conventional oil and gas reservoirs and the increasing demand to up the production
to cater to growing energy needs around the world. This is likely to be a key driver for the global
oil accumulator market over the forecast period. Governments around the world are also focusing
on developing shale gas E&P infrastructure, which is likely to drive the global oil accumulator
market over the forecast period.
Competitive Analysis:
Leading players in the Oil Accumulator Industry include Hydroll, Roth Hydraulics, Rotec
Hydraulics, Hannon Hydraulics, Technetics Group, Freudenberg, Hydac, Bosch, Parker Hannifin,
and Eaton. Leading players in the global oil accumulator market are likely to focus on product
development as well as mergers and acquisitions over the forecast period due to the need to come
up with more efficient oil accumulators for oil and gas industry operations.
Global Oil Accumulator Industry Segmentation:
The global oil accumulator market is segmented on the basis of type, pressure rating, application,
and region.
By type, the global oil accumulator industry is segmented into bladder, piston, and diaphragm. The
bladder segment is likely to dominate the global oil accumulator market over the forecast period
due to the widespread demand for bladder type oil accumulators.
By pressure rating, the global oil accumulator market is bifurcated into up to 6000 psi and more
than 6000 psi. The up to 6000 psi segment is likely to dominate the global oil accumulator market
over the forecast period.
By application, the global oil accumulator market is segmented into BOP and wellhead control,
offshore rigs, and mud pumps.
Regional Analysis: