Oil Accumulator Market Expected to Witness the Highest Growth during 2020-2023

The oil accumulator market is expected to grow from an estimated USD 488.5 million in 2018 to USD 617.1 million by 2023, at a CAGR of 4.78%, during the forecast period. The market is set to witness growth because of the digital revolution in the oil & gas industry and shale gas exploration in the US.

Bladder segment is expected to be the largest oil accumulator market, by type, in 2018.

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. The strong market share of bladder accumulators is attributed to high preference of customers for this type of accumulator, which is further expected to continue holding the largest share in the future with new API regulations. Another advantage of bladder accumulators is that it can be used for almost many offshore applications and has high durability compared with other types.

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Up to 6,000 PSI segment is expected to be the fastest oil accumulator market, by pressure ratings, during the forecast period.

The up to 6,000 PSI segment is expected to be the fastest growing oil accumulator market from 2018 to 2023. This is due to various factors, including rising investments in the oil & gas industries. Consumption of accumulators of pressure ranges up to 6,000 psi is higher because of the application of multiple units in place of a single unit to avoid idle time during production or drilling; this is expected to drive the up to 6,000 PSI segment of the oil accumulator market.

The scope of the report:

• By Type
  • Bladder Accumulator
  • Piston Accumulator
  • Diaphragm Accumulator
• By Pressure Rating
  • Up to 6,000 Psi
  • Above 6,000 Psi
• By Onshore Vs Offshore
  • Up to 6,000 Psi
  • Above 6,000 Psi
• By Application
  • Blow out preventer & well head control
  • Offshore rigs
  • Mud pumps
• By Region
  • Asia Pacific
  • Europe
  • North America
  • Middle East
  • Africa
  • South America

North America: Largest oil accumulator market during the forecast period.

In this report, the oil accumulator market has been analyzed with respect to 5 regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America. North America is the largest oil accumulator market, by region, during the forecast period. Digitalization in the oil & gas industry, shale gas exploration in the US, and supportive government plans are expected to drive the market for oil accumulators in this region. The US and Canada are the leading countries, among others, which are likely to contribute to the growth of the oil accumulator market in North America.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the oil accumulator market such as Hydac (Germany), Parker Hannifin (US), Eaton (Ireland), Freudenberg (Germany), Bosch Rexroth (Germany), and Nippon Accumulator (Japan).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Explore the Microgrid Control System Market | By Company Profiles | Size | Share | Growth | Trends and Forecast To 2023

The microgrid control system market is expected to grow from an estimated USD 2.0 billion in 2018 to USD 3.6 billion by 2023, at a CAGR of 13.01%. Increasing investments in electric networks, refurbishment of the existing grid networks, and growing adoption of renewable energy sources across the globe are likely to drive the microgrid control system market. Rising electrification projects and advancement in the Internet of Things (IoT), as well as communication technologies, can lead to opportunities in the microgrid control system market.

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The off-grid segment is expected to hold the largest share of the microgrid control system market, by grid-type, during the forecast period.

The off-grid segment led the microgrid control system market in 2018 and is projected to have the largest market share during the forecast period. Remote/island/off-grid microgrids are mainly used to provide diverse power sources for geographically remote communities and developing countries. This growth can be attributed mainly to the growing demand to attain reliable and sustainable power supply majorly in rural areas of the Asia Pacific and the Middle East & Africa region. Also, these type of microgrid control systems have a huge demand in military bases, mining, and oil & gas industries. Increasing focus to reduce diesel fuel consumption by integrating solar PV and distributed wind further drives the microgrid control system market.

This research report categorizes the microgrid control system market based on grid-type, ownership, component, end-user, and region

On the basis of grid-type, the market has been segmented as follows:

• On-Grid
• Off-Grid

On the basis of component, the market has been segmented as follows:

• Hardware
• Software

On the basis of ownership, the market has been segmented as follows:

• Private
• Public

On the basis of end-user, the market has been segmented as follows:

• Utilities
• Campuses and Institutions
• Commercial and Industrial
• Others (Defense & datacenters)

On the basis of region, the market has been segmented as follows:

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• South America

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The private segment is expected to hold the largest share of the microgrid control system market, by ownership, during the forecast period.

The private segment led the microgrid control system market in 2018. Factors such as increasing demand for electricity, rising power generation capacity, and increasing usage of renewable sources to generate electricity are expected to boost the demand for the private microgrid control systems. Private players find microgrid control system’s major application in defence, university campuses, and commercial and industrial end-users. Also, rising investments in electrification projects, in which microgrid technologies are highly deployed encourages private players to invest in the microgrid control system.

Asia Pacific: The leading market for microgrid control system market

In this report, the microgrid control system market has been analyzed with respect to 5 regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Asia Pacific led the global microgrid control system market in 2017. The high growth rate in the Asia Pacific region can be attributed to increased investments in the electric grid development and growing reliance on renewable sources of power generation. China and India are the largest markets for microgrid control system market in the region. China accounts for the largest share owing to the increasing investment in electrification projects, the country accounted for highest installed generation and distribution capacity in the Asia Pacific region, resulting in an increased demand for the microgrid control system.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the microgrid control system market. The key players are ABB (Switzerland), GE (US), Siemens (Germany), Schneider (France), Eaton (Ireland), Emerson (US), Spirae (US), Schweitzer Engineering Laboratories, Inc.  (US), ETAP (US), S&C Electric (US), Woodward, Inc. (US), PowerSecure (US), RT SOFT (Germany), Ontech Electric Corporation (China). Contracts & agreements was one of the key strategies adopted by the players to strengthen their global presence and offerings.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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MarketsandMarkets™ INC.
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Progressing Cavity Pump Market Latest Trends, Development, Growth Analysis And Forecast by 2026

According to the new market research report "Progressing Cavity Pump Market by Pumping Capacity (Up to 500 GPM, 501–1,000 GPM, and more), Power Rating (Up to 50 HP, 51–150 HP, and more), End User (Oil & Gas, Food & Beverages, and more), and Region - Global Forecasts to 2026", published by MarketsandMarkets™, the global Progressing Cavity Pump Market size is projected to reach USD 5.9 billion by 2026, at a CAGR of 6.0%, from an estimated USD 4.4 billion in 2021.  The key drivers for the Progressing Cavity Pump Market include use of PCPs in enhanced oil recovery and upstream processes and Intensifying need for water & wastewater management in developed nations.

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The up to 500 GPM segment by pumping capacity, is the largest contributor in the progressing cavity pump during the forecast period.

Progressing cavity pumps offering pumping capacity in the range of 0 to 500 GPM capture the largest share of the global PCP market. In 2020, the segment captured more than 65% of the total market owing to the versatility in operation offered by these pumps. In addition to compact size, these pumps require less power-consuming electric or hydraulic motors that are favored across the world for lower operational cost as well as high efficiency. Lower operational cost is also one of the prime factors due to which end-use industries prefer to use these motors over their more powerful counterparts. The food & beverages industry is among the top consumers of these pumps due to the relatively low requirement of flow rate for fluid processing.

Power rating, the up to 50 HP segment is expected to be the largest market for progressing cavity pump during the forecast period.

PCPs rated up to 50 hp are predominantly used for abrasion resistance in tough pumping applications. PCPs become mechanical, and their volumetric efficiency rises when the viscosity of the liquid increases and PCPs require limited power supply and flow as compared to other pumps. PCPs rated up to 50 hp are used mainly in the wastewater treatment (for handling polymers, waste, sludge, and flocculants); chemicals (for handling detergents, varnish, paints, inks, and soaps); buildings (for handling cement and bentonite); agro and food (for handling creams, emulsions, wine, and olive oils); food & beverages (for handling dairy product, beverage, convenience food, fruits and vegetables, baked goods, sauce and starch, personal care, meat, fish, and animal food) industries. Progressing cavity pumps with such power rating are not extensively used in the oil & gas industry owing to the fact that the oil & gas industry demands high power rated operational equipment.

Browse in-depth TOC on "Progressing Cavity Pump Market"

125 – Tables
55 – Figures
215 – Pages

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The water & wastewater management end user segment is expected to be the largest contributor during the forecast period.

Water & wastewater is the largest end user of PCPs among all the industries. The need to reduce life cycle costs and improve operating margins is anticipated to boost the usage of PCP units in the water & wastewater industry for the processing of polymers, waste, sludge, and flocculants. Intensifying demand for freshwater, handling liquids with higher viscosities, and a clean environment would also propel the need for water and wastewater management in the future, thereby creating opportunities for the usage of PCPs. The demand for these pumps is likely to rise from new plant installations, unit expansions, and unit upgrades. According to the UN, the worlds population will increase from 7.2 billion in 2013 to 8.1 billion by 2025. Hence, factors such as population growth, especially in urban areas, industrial development, increasing emphasis on wastewater treatment, international commitments and targets, and government policies would facilitate the growth of the water & wastewater industry. Moreover, by 2030, the UN plans to achieve universal and equitable access to safe and affordable drinking water and adequate and equitable sanitation for all. This calls for huge investments in the water & wastewater sector. This, in turn, would push the demand for PCPs during the forecast period.

Asia Pacific is expected to dominate the global Progressing Cavity Pump Market

The Asia Pacific region was the largest market for progressing cavity pumps in 2020 and accounted for a share of 35.7% of the global market. The PCP market in Asia Pacific has been studied for China, Australia, India, and Japan. The other Asian countries considered in the study are Thailand, Malaysia, the Philippines, Singapore, and South Korea. According to the IMF, the economic outlook for Asia Pacific remains strong, and the region continues to be the most dynamic in the global economy. The region has many top global economies, such as China, India, and Japan, and is expected to grow at 5.6% till 2022. The major end users of progressing cavity pumps in the region include water & wastewater treatment, oil & gas, and food & beverages industries. The market in this region will be largely driven by China and India—countries exhibiting fast-paced economic expansion and healthy industrial growth rates. The market in Southeast Asian countries, such as Malaysia and Thailand, is at various stages of development. The government of Malaysia aims to serve clean water to 99% of the population by 2022 from 95.5% in 2015. Such targets are likely to reflect favorably on the PCP market. According to the Indian Ministry of Finance, the country plans to invest USD 646 billion by 2022 in various areas of development. About 70% of the investment would be made in power, roads, and urban infrastructure.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top manufacturers in the Progressing Cavity Pump Market. These players include Xylem (US), Weir (UK), Sulzer (Switzerland), Roto Pumps (India), EBARA Corporation (Japan), Wilo (Germany), ITT Corporation (US), NETZSCH (Germany), CIRCOR International (US), SEEPEX (Germany).

Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting

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About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com 

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