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Blowout Preventer Market Segment Forecasts Up to 2019, Research Reports- TransparencyMarketResearch

Transparency Market Research Report Added " Blowout Preventer Market Global Industry Analysis, Outlook, Growth, Trends And Forecast 2013 - 2019" to its database.

 

Albany, NY -- (SBWIRE) -- 09/18/2014 -- Blowout preventer (BOP) is a mechanical device that is used to seal, control and monitor oil and gas wells. Once sealed, it allows access to the wellbore below the BOP to control the well. They are developed to control high pressure and turbulent flow emerging from a well reservoir during exploration phase. Blowout preventers are essential to the safety of workers, drilling rig and environment. Blowout preventers are also used to carry out routine operational tasks such as formation strength tests and casing. Installation of blowout preventer at the drilling site is a mandatory requirement.

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Blowout preventer can be segmented based on the type such as ram and annular. Both are frequently used together in drilling rigs. Ram blowout preventer are of four major types: pipe rams, blind rams, shear rams and blind shear rams. Advanced technologies of ram BOPs has directed towards deeper and high pressure wells, low maintenance and greater reliability. Major components used in BOP system are low marine riser package, the BOP stack and the control system.

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Some of the major drivers of the blowout preventer market are new acreages of oil and gas and increased investments in drilling activities. However, high cost of the metal used in the making of blowout preventer can hinder the growth of the market. Some of the key players in the manufacturing of blowout preventers are Alco Inc, American Completion tools Inc, Domino Machine Inc, Drilling Controls Inc, Eastern Oilfield Supply LLC, Henderson Oilfield Products LLC, Kingrig group Ltd, Piper Oilfield Products, Radoil Inc, and Shinpec International Trade Corporation Ltd among others.

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