prices of oil and gas are negatively impacting the upstream expenditure and drilling activities, which in turn is hampering the growth of the global oil and gas accumulators market.
Global Oil and Gas Accumulators Market: Geographical Segmentation
The key regions covered in terms of geography are North America, Europe, Asia Pacific, and Rest of the World. North America is expected to hold a large share in the market during the forecast period. The booming oil and gas industries in the U. S. and Canada is triggering the uptake of oil and gas accumulators in the region. Moreover, the increasing drilling activities in the offshore areas of Gulf of Mexico are propelling the growth of the region.
The Rest of the World region is estimated to exhibit a noteworthy CAGR during the same span. The region consists of some of the leading oil and gas producing nations that are providing fertile grounds for the growth of the oil and gas accumulators market. The growth of Asia Pacific and Europe can be attributed to the rising drilling activities in the Commonwealth of Independent States( CIS), North Sea, South China Sea, and North Eastern China.
Global Oil and Gas Accumulators Market: Competitive Landscape
The majority of the players in the global oil and gas accumulators market are focusing on consolidating their presence through technological advancements and product innovation. Some of the prominent companies operating in the market are Accumulators Inc., Airmo Inc., Bosch Rexroth Corporation, Bolenz & Schafer Gmbh, Eaton Corporation, Hydril Pressure Control, Hannon Hydraulics, Hydac International Gmbh, Nippon Accumulator Co. Ltd., Parker Hannifin Corporation, Pressure Technologies, and Tobul Accumulator Inc.
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Major regions analyzed under this research report are:
-Europe
-North America