Choke and Kill Manifold Market: Global Opportunity Analysis and Industry Forecast 2023-2030 Market

Choke and Kill Manifold Market Outlook - 2027

Choke and kill manifold is an interconnection of various valves and the entire apparatus acts as the pressure controlling centre for Blow-out preventers (BOP). Since it is used in Blow-out-preventers (BOPs), this part finds huge application in onshore/offshore rigging and drilling fields. It is mostly used in oil and gas production wells to control the flow of well fluids which are produced there. Chokes and kill manifold assembly consists of high-pressure valves, pressure sensors, chokes, spool spacers, buffer tanks, and flanges. These gears are combined on blowout preventer units and assures that movement of drilling fluids from well into buffer tanks, measures compression in annular space of the well head, collect and distribute well fluid.  Choke and kill manifolds manage well compression variations that happen during drilling by diverting flow through a series of valves and chokes. Commonly oil & gas delivering wells have two choke valves in arrangement, one non-regulating choke valve and one regulating choke valve downstream to the non-regulating choke valve. The regulating choke valve is designed to maintain a steady production level in the flowlines and production header. Non-regulating choke is on-off valve and kill reservoir pressure to a desired operating value in the flow line. 

Covid-19 scenario analysis:

• The global market for choke and kill manifold is severely impacted by the outbreak of the COVID-19 pandemic. 
• The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns. 
• Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
• Thus, insufficiency in raw material supply is expected to hamper the production rate of choke and kill manifold, which negatively impact the market growth.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

As the consumption of oil & gas is increasing in countries in developed and emerging countries one of the key factor, which boost the market growth. With more industrialization and urbanization, it has increased the consumption of fuel and this increased the demand for choke and kill manifold equipment. There are some restraints for this market. Drilling activities to explore shale gas and tar sands boost the demand for choke and kill. With plunge in price of oil and gas could result in decline in drilling activities. This could decrease the demand for choke and kill. 

New product launches to flourish the market 

National Oilwell Varco (NOV) launches new tectonic Pursuit series drill bits for US market. As the US drilling market continues to evolve, operators and drillers chasing target zones that are deeper and farther than ever before. Pursuit drill bits are designed to enhance for increasing drilling efficiency, enabling operators and drillers to complete these intervals faster and at lower cost. The drill bits use computer investigation of torque response along with a torque reduction component to improve directional control and reduce sliding times. Furthermore, Pursuit drills are designed with material improvements that convey increased strength and durability, and cutter life has been boosted by minimizing thermal deprivation.

Surge in usage in industrial applications

Increasing demand for drilling activities has increased the demand for choke and kill manifold. Drilling activities are required for shale gas, digging of oil and others, for this choke and kill are the essential equipment for controlling pressure. Companies are targeting on adopting effective measures to boost oil and gas production, which directly augments demand for choke and kill. 

Key benefits of the report:

• This study presents the analytical depiction of the global choke and kill manifold market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global choke and kill manifold market.
• The current market is quantitatively analysed to highlight the global choke and kill manifold market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global choke and kill manifold market analysis based on competitive intensity and how the competition will take shape in coming years. 

 Choke and Kill Manifold Market: Global Opportunity Analysis and Industry Forecast 2020-2027 Report Highlights