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Blowout Equipment Market Global Industry Analysis 2014 - 2020

Oil and gas well drilling activities are increasing due to increased global energy demand. Increase in the number of wells drilled has in turn elevated the demand for blowout equipment market globally. The blowout equipment market is expected to wit
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Oil and gas well drilling activities are increasing due to increased global energy demand. Increase in the number of wells
drilled has in turn elevated the demand for blowout equipment market globally. The blowout equipment market is
expected to witness substantial growth over the forecast period due to increased well drilling activities across the globe.
Complete Report with TOC :
In oil and gas industry, a blowout is defined as the uncontrolled flow of the reservoir fluids from an oil and/or gas that is
being drilled or producing. The blowout can occur if pressure control systems have failed during the production of oil or
gas from the reservoir. Blowout can also occur during drilling operations, if a kick is not identified by the operator while
drilling a well. During drilling, a kick is a situation when hydrostatic pressure of drilling mud is less than formation fluids
(oil or gas) pressure and the fluids starts flowing into the well, creating a dangerous situation. If the flow of oil and/ or gas
is not stopped in time, these hydrocarbons can ignite and create a deadly firestorm known as a blowout. The blowouts
results in loss of time, money, equipment and even danger to people working on the rig. Hence, a blowout should be
prevented by using suitable blowout equipment. Blowout equipment that consists of high pressure safety valves and
associated equipment are designed to withstand extreme pressure. These equipments shut off the well hole and prevent
any oil or gas from the well to escape into the environment thereby averting any possibility of a blowout. Growing
concerns to prevent in blowout in the near future is anticipated to drive the market growth substantially.
The global blowout equipment market can be segmented on the basis of product segments: the blowout preventers (BOP),
blowout equipment manifolds (BEM), well killing facilities and others (equipment applied under high toxic gas content
condition). A BOP is a specialized valve that is used to monitor, seal and control and oil and gas wells. A BOP and
associated valves are installed at the top of casing head. North America is expected to be the market leader in the
blowout equipment market due to the large number of wells being drilled for shale gas exploration and production.
Research and development over the years has helped the oil and gas industry to avert accidents and function smoothly.
New products have been developed that are suitable for vigorous conditions and provide greater accuracy. But human
vigilance plays an important role to decrease the number of accidents. The companies have become more vigilant to
circumvent any accidents. An accident can result in loss of product, equipment and human life. To prevent such loss,
every operation is planned carefully, suitable equipment are deployed to avert any mishaps. Increased number of drilled
oil and gas wells has been a primary driver for the blowout equipment market. The number of wells is expected to
increase over the forecast period that will provide a huge opportunity to the blowout equipment market.
Some of the key players in the blowout equipment market include Henderson Oilfield Products LLC, American Completion
Tools Inc., Kingrig Group Ltd., Rosneft, Domino Machine Inc., Eastern Oilfield Supply LLC, UZTEL S.A., MTQ Corporation
Limited, Sichuan Honghua Petroleum Equipment Co., Ltd. and The Subsea Company among others.
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