The global blowout preventer market to register an incremental growth of USD 492.19 million, witnessing a CAGR of almost 2% during 2020-2024, according to the latest market research analysis by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the blowout preventer market in optimistic, probable, and pessimistic forecast scenarios.
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Technavio has announced its latest market research report titled Global Blowout Preventer Market 2020-2024 (Graphic: Business Wire)
Get detailed insights on COVID-19 pandemic Crisis and Recovery analysis of the Blowout Preventer market. Download free report sample
Amid the COVID-19 Crisis, the Revaluated and Updated Blowout Preventer Market Report Says:
The blowout preventer market will witness a Negative and At par impact during the forecast period owing to the extensive rise of the COVID-19 pandemic.
Due to the extensive spread of the virus across the globe, the Energy industry is anticipated to have a Negative and Indirect impact
Furthermore, as per Technavio’s pandemic-focused research highlights, the market demand will show Inferior growth due to the increase in infections and reduced economic activity.
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Blowout Preventer Market Segmentation and Competitive Analysis
Blowout preventer market is segmented by type (annular blowout preventer and ram blowout preventer), location (onshore and offshore), and geography (North America, Europe, MEA, APAC, and South America). The rise in unconventional oil and gas resources has been an instrumental factor in influencing the growth of the blowout preventer market. Other market drivers include a rising number of deep and ultra-deepwater drilling projects and environmental norms and increased safety concerns.
The market is fragmented. The report analyzes the market’s competitive landscape and offers information on several market vendors, including AXON Pressure Products Inc., Control Flow Inc., General Electric Co., National Oilwell Varco Inc., Schlumberger Ltd., The Weir Group Plc, UZTEL SA, Weatherford International Plc, Worldwide Oilfield Machine, and Yantai Jereh Oilfield Services Group Co. Ltd. Moreover, Technavio offers custom research analysis on the crucial pointers to highlight the impact of COVID-19 on the market across the supply chain.
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Reasons to Buy the Report:
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers.
The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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Manufacturers and suppliers
Strategic decision makers
Industry journals and periodicals
Financial reports of key industry players
Collation of data
Estimation of key figures
Analysis of derived insights
Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts
Five forces analysis
Market size and forecast
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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