North America to lead Blowout Preventer Market in the Oil & Gas Equipment & Services Industry through 2024 | Technavio

NEW YORK, June 25, 2021 /PRNewswire/ —
North America is expected to lead…

NEW YORK, June 25, 2021 /PRNewswire/ —

North America is expected to lead the blowout preventer market with 43% of the market’s growth during 2020-2024. The US and Canada are the key markets for blowout preventers in North America and are expected to offer several growth opportunities to market vendors during the forecast period, says Technavio, a leading market research company.

Technavio offers an up-to-date analysis regarding the current global market scenario and the overall market environment.

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Technavio’s report on «Blowout Preventer Market by Type, Location, and Geography – Forecast and Analysis 2020-2024» reveals that the market has the potential to reach USD 492.19 million, progressing at a CAGR of almost 2%.

Leading Regional Analysis of Blowout Preventer Market 2020-2024:

Technavio identifies Europe as the second-highest country, where the blowout preventer market will have the potential to reach USD 1062.6 million by 2024. The presence of numerous offshore oil and gas projects in the North Sea will increase the demand for the blowout preventer market in Europe during the forecast period.

The Middle East and Africa will be the third-highest country, where the blowout preventer market will have the potential to reach USD 990.5 million by 2024. Factors such as the rising demand for oil and gas and the need to produce more crude oil will drive the growth of the blowout preventer market in the Middle East and Africa during the forecast period.

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Blowout Preventer Market in the Oil & Gas Equipment & Services Industry during 2020-2024: Vendor Analysis and Scope

To help businesses improve their market position, the blowout preventer market report provide a detailed analysis of around 25 vendors operating in the market. Some of these vendors include 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.

The report also covers the following areas:

  • Blowout Preventer Market Size
  • Blowout Preventer Market Trends
  • Blowout Preventer Market Industry Analysis

Key Topics Covered

  • Executive Summary
  • Market Landscape
  • Market Sizing
  • Five Forces Analysis
  • Market Segmentation by Type
  • Market Segmentation by Location
  • Market Segmentation by Geography
  • Customer landscape
  • Geographic Landscape
  • Vendor Landscape
  • Vendor Analysis
  • Appendix

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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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Report Page: https://www.technavio.com/report/blowout-preventer-market-industry-analysis

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