Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.

Global Blowout Preventer Market: By Type: Annular Blowout Preventer, Ram Blowout Preventer; By Application: Onshore, Offshore; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Industry Events and Developments

Global Blowout Preventer Market Outlook

The global market for blowout preventer is expected to grow at a CAGR of about 3.70% in the forecast period of 2023-2028, owing to the growing subsea drilling activities.

 

North America to be Among the Significant Regional Markets for Blowout Preventer

North America is expected to be one of the dominant regions for blowout preventers during the forecast period. The rise in the production and exploration of crude oil and gas resources in the United States and Canada will be crucial in driving the market growth in North America. The United States, in particular, is expected to ramp up the investments in both annular blowout preventers and ram blowout preventers. An increase in the production of hydrocarbon and monitoring of wellbore has been augmenting the demand for blowout preventers. The United States has some of the most stringent regulations for oil spills in marine environments. The rules and penal damage structure for oil spills in the country are expected to increase the demand for a blowout preventer.

 

Middle East and Africa and Asia Pacific to Witness Robust Growth

The Middle East and Africa account for a significant share of the global blowout preventer market owing to the rising drilling, onshore and offshore activities in the region and the growth of the oil and gas industry in the region. The region's popularity of ram blocks, shear rams, and annular model assemblies will further drive the market growth. According to OPEC, Saudi Arabia is the home of 17% of the world's proven petroleum reserves. Drilling activities will likely continue to surge in the region, prompting companies to expand their penetration in MEA.

The Asia Pacific region follows the Middle East and Africa in the market in terms of the number of installations of blowout preventers. Malaysia and China are estimated to be the major producers of hydrocarbons from offshore fields. Hence, Asia Pacific can be projected as a highly attractive market for the installation of blowout preventers in the coming years.

 

Market Segmentations

Blowout Preventers (BOPs) are large, specialised valves or mechanical devices put on stacks to control, monitor, and seal fluid leaking from oil and gas wells to prevent a blowout. Blowout preventers are heavy and bulky in design, and they serve as a deterrent to runaway oil and gas wells. They can also be employed in onshore and offshore wells.

The various types of blowout preventers in the blowout preventer market are:

  • Annular Blowout Preventer
  • Ram Blowout Preventer

These preventers find applications in the following:

  • Onshore
  • Offshore

The regional markets for blowout preventer can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

 

Growing Subsea Drilling Activities Augmenting the Market Growth

The key factors driving the blowout preventer market include the increasing requirement for the effective production of oil and gas and the growing subsea drilling activities. There is an increase in the drilling activities owing to the growing demand for hydrocarbons, which in turn triggers the demand for the blowout preventers and the drilling tools. In order to minimise the additional costs and expenditures, efficient oil and gas production should be done in the offshore and the onshore fields. The increased safety regulations and norms for the product's efficiency act as a supporting factor for the growth of the global blowout preventers market. An increase in safety standards, particularly in offshore locations, is expected to propel the market growth globally. The rise in deep and ultra-deepwater drilling project activities is also expected to drive market growth. Strict norms and regulations in the upstream hydrocarbon sector and effective exploration operations are some of the drivers behind the market growth. Moreover, manufacturers of blowout preventers are focussing on the safe operation of the equipment installed to avoid any case of accidents reported from the oil fields and order more than one blowout preventer as a backup.

 

Key Players in the Global Market for Blowout Preventer

The report gives a detailed analysis of the following key players in the global blowout preventer market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Worldwide Oilfield Machine, Inc.
  • Baker Hughes Company
  • Weatherford International plc
  • B.O.P Products LLC.
  • Alberta Petroleum Industries Ltd.
  • AXON Pressure Products, Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • Annular Blowout Preventer
  • Ram Blowout Preventer
Breakup by Application
  • Onshore
  • Offshore
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Worldwide Oilfield Machine, Inc.
  • Baker Hughes Company
  • Weatherford International plc
  • B.O.P Products LLC.
  • Alberta Petroleum Industries Ltd.
  • AXON Pressure Products, Inc.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface   
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions   
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments  
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional 
7    Opportunities and Challenges in the Market
8    Global Blowout Preventer Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Blowout Preventer Historical Market (2018-2022) 
    8.3    Global Blowout Preventer Market Forecast (2023-2028)
    8.4    Global Blowout Preventer Market by Type
        8.4.1    Annular Blowout Preventer
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Ram Blowout Preventer
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global Blowout Preventer Market by Application  
        8.5.1    Onshore
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Offshore
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)    
    8.6    Global Blowout Preventer Market by Region
        8.6.1    North America
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022) 
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Europe
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022) 
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Asia Pacific
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022) 
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Latin America
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2022) 
            8.6.4.3    Forecast Trend (2023-2028)
        8.6.5    Middle East and Africa
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2018-2022) 
            8.6.5.3    Forecast Trend (2023-2028)
9    North America Blowout Preventer Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Blowout Preventer Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Blowout Preventer Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Blowout Preventer Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle  East and Africa Blowout Preventer Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market  Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value  Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Worldwide Oilfield Machine, Inc.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Baker Hughes Company
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Weatherford International plc
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    B.O.P Products LLC. 
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Alberta Petroleum Industries Ltd.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    AXON Pressure Products, Inc.
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Blowout Preventer Market: Key Industry Highlights, 2018 and 2028  
2.    Global Blowout Preventer Historical Market: Breakup by Type (USD Million), 2018-2022
3.    Global Blowout Preventer Market Forecast: Breakup by Type (USD Million), 2023-2028
4.    Global Blowout Preventer Historical Market: Breakup by Application (USD Million), 2018-2022
5.    Global Blowout Preventer Market Forecast: Breakup by Application (USD Million), 2023-2028
6.    Global Blowout Preventer Historical Market: Breakup by Region (USD Million), 2018-2022
7.    Global Blowout Preventer Market Forecast: Breakup by Region (USD Million), 2023-2028
8.    North America Blowout Preventer Historical Market: Breakup by Country (USD Million), 2018-2022
9.    North America Blowout Preventer Market Forecast: Breakup by Country (USD Million), 2023-2028
10.    Europe Blowout Preventer Historical Market: Breakup by Country (USD Million), 2018-2022
11.    Europe Blowout Preventer Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Asia Pacific Blowout Preventer Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Asia Pacific Blowout Preventer Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Latin America Blowout Preventer Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Latin America Blowout Preventer Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Middle East and Africa Blowout Preventer Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Middle East and Africa Blowout Preventer Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Global Blowout Preventer Market Structure.

Key Questions Answered in the Report

The global market is projected to grow at a CAGR of 3.70% between 2023 and 2028.

The major drivers of the market include the growing installation of blowout preventers, increasing requirements for the effective production of oil and gas, an increase in safety standards, and strict norms and regulations in the upstream hydrocarbon sector.

The growing subsea drilling activities and the rise in deep and ultra-deepwater drilling project activities are the key industry trends propelling the growth of the market.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various types of blowout preventers in the market are annular blowout preventer and ram blowout preventer.

The significant applications of the market are onshore and offshore.

The major players in the industry are Worldwide Oilfield Machine, Inc., Baker Hughes Company, Weatherford International plc, B.O.P Products LLC., Alberta Petroleum Industries Ltd., and AXON Pressure Products, Inc., among others.

Analyst Review

The global blowout preventer market was driven by the growing subsea drilling activities in the historical period. Aided by the increase in safety standards and rise in deep and ultra-deepwater drilling project activities, the market is expected to grow at a CAGR of 3.70% in the forecast period of 2023-2028.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The various types of blowout preventers in the market are annular blowout preventer and ram blowout preventer. The significant applications of the market are onshore and offshore. The major regional markets for blowout preventer are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The key players in the above market are Worldwide Oilfield Machine, Inc., Baker Hughes Company, Weatherford International plc, B.O.P Products LLC., Alberta Petroleum Industries Ltd., and AXON Pressure Products, Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.   

Purchase Full Report

Mini Report

$1499
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$2699
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

$3699
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$4699
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER