Oil and gas accumulators market is driven due to increased demand for crude oil across the globe. This crude oil demand causes surge in drilling, and oil and gas exploration activities which leads to drive growth of the oil and gas accumulator market.

The report “Global Oil and Gas Accumulators Market, By Type (Bladder, spring, Piston, and Diaphragm), By Application (Blow Out Preventers (BOP), Mud Pumps, and Offshore Rigs), and Region - Global Forecast to 2029" Global oil and gas accumulators market is projected to grow from US$ 525.2 Million in 2020 to US$ 770.0 Million by 2029.

Key Highlights:

• In July 2014, Freudenberg Sealing Technologies a sealing division of Freudenberg Group, Germany, acquired Tobul Accumulator Inc. Where the Tobul develops and produces piston and bladder hydraulic accumulators.

Key Market Insights from the report:          

The global oil and gas accumulator market accounted for US$ 525.2 Million in 2020 and is projected to register a moderate CAGR of 4.3 % over the forecast period. The market report has been segmented on the basis of type, application, and region.

• By type, the bladder segment has major share in growth of the oil and gas accumulator market over the forecast period on the account of growing production activity attributed with increasing use of blow out preventer across the globe.
• By application, Blowout preventer account major share in growth of the oil and gas accumulator market due to rising usage in offshore and onshore drilling activities.
• By region, North America account major share in global oil and gas accumulator market owing to the large number of oil and gas exploration projects in this region. The rising oil and gas industries in the U.S. and Canada countries of North America are leads to the growth of oil and gas accumulators in this region.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Oil and Gas Accumulators Market”, By Type (Bladder, spring, Piston, and Diaphragm), By Application (Blow Out Preventers (BOP), Mud Pumps, and Offshore Rigs), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- forecast till 2029

The prominent player operating in the global oil and gas accumulator market include includes Bosch Rexroth AG, Eaton corporation, Freudenberg Sealing Technologies, Nippon Accumulator co. ltd., Parker Hannifin corporation, Hydac International GmbH, Hydril Pressure Control, Hannon Hydraulics, Tobul Accumulator Inc, and Bolenz & Schafer GmbH etc.

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