Oil Accumulator Market Highlights
The global Oil Accumulator market is estimated to expand at 4.80% CAGR during the forecast period. Oil Accumulator are hydro-pneumatic equipment that utilizes the compressibility of gas and are widely used as a supplementary energy source. The fluid is stored via an external source that can either be piston, spring, gas and fluid. These accumulators are available in different shapes. Most popular types of oil and gas accumulators are diaphragm, bladder and piston. Exploration as well as drilling activities supported by greater need for crude oil is driving the oil & gas market. A detailed analysis report of COVID-19 impact on Global Oil Accumulator Market is provided with the report.
The growing demand for Oil Accumulator market is attributed to the growing IoT in oil & Gas industry and rising demand for digitalization due to Increased productivity, safety operations, and cost savings are the potential benefits of digital transformation in oil & gas. One of the major restraints for the global oil accumulator market is transition to renewable sources of energy
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Scope of the Report
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global oil accumulator market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis
The key players of the global Oil Accumulator market are Eaton (Ireland), Parker Hannifin (US), Bosch (Germany), Hydac (Germany), Freudenberg (Germany), Technetics Group (US), Hannon Hydraulics (US), Rotec Hydraulics (UK), Roth Hydraulics (Germany), Hydroll (Finland), and others.
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Global Oil Accumulator market has been segmented based on type, pressure rating, application, and region. Based on type, the market is classified into bladder, piston, and diaphragm. The bladder segment of the oil accumulator market, by type, is expected to be the largest market from 2018 to 2023. Factors such as high investment in onshore and offshore industries are driving the oil accumulator market. Another advantage of bladder accumulator is that it can be used for almost many offshore applications and has high durability compared with other types. The global Oil Accumulator market is further segmented based on pressure rating, including up to 6000 psi and above 6000 psi. Up to 6000 psi segment of the global Oil Accumulator market is estimated to register the highest growth rate during the forecast period.
Region wise, North America held the largest market share of the global Oil accumulator market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment in oil & gas processes. The accumulator market in the oil & gas industry would be mainly driven by the growth in digital technologies such as machine learning, artificial intelligent, and data analytics in the countries such as US and Canada. The demand from the onshore & offshore fields in the Gulf of Mexico is also likely to positively impact the oil accumulator market during the forecast period.
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