Report Code: A07264 | Pages: NA | Mar 2023 | 1081 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Ram Blowout Preventer Market
Request Now !A blowout preventer (BOP) is a special device that is used to seal, control, and monitor oil  & gas wells to prevent any uncontrolled release of crude oil or natural gas (known as blowouts) from a well. Various types of blowout preventers are available in the market. A ram-type blowout preventer operates similarly as a gate valve, but uses a pair of opposing steel plungers, rams. Rams extend toward the center of the wellbore to restrict flow or retract open to permit flow. Blowout preventers are majorly employed to handle extreme pressures and uncontrolled flow from a well during drilling and to prevent catastrophic event such as a major oil spillage. Moreover, the blowout preventers are used to prevent tubing, tools, and drilling fluids from being ejected of the wellbore. These are extremely critical for the safety and wellbeing of crew and environment and for monitoring and maintenance of the well.
COVID-19 scenario analysis
The outbreak of the COVID-19 pandemic across the globe has impacted the global ram blowout preventer market to a notable extent.
Rise in demand for fuel and hydrocarbons has escalated the sub-sea drilling activities across the globe. However, different nations around the globe are imposing several regulations to prevent major oil spillages. Stringent government regulations imposed and rise in safety awareness are acting as the major drivers of the global ram blowout preventer market. Presently, companies are investing more for further technological advancements of blowout preventer systems to improve their efficiency and reduce the system cost, which augments the global market growth.Â
However, frequent fluctuations in the crude oil prices may act as a restraining factor of the market.
North America is currently leading the ram blowout preventer market with the major offshore drilling activities done in the Gulf of Mexico. The market is anticipated to grow at a steady pace in the Middle East with increase in drilling activities in the UAE.Â
Key benefits of the report
Ram Blowout Preventer Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | Aker Solutions, Weatherford International Limited, FMC Technologies, Cameron International Corporation, National Oil Well Verco Inc., Proserve, Uztel Ltd., GE oil & gas, Rongsheng Machinery, OJSC NaftaGaz, Halliburton, Fountain Petro, Control Flow, GCOP, Well Control, NETS |
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