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Introduction
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<a href="https://www.baojisafe.com/" target="_self">Pressure control
equipment</a> is a set of tools and device that are generally used to maintain the
optimal pressure levels inside a wellbore during well intervention or workover
operations. The pressure control equipment can withstand arduous conditions which
ensure safety and quality, and minimize risks during drilling. It is used in number
of applications where the pressure needs to be measured, monitored, and controlled.
Rapid implementation of advanced technology in oilfield equipment on the account of
growing global investment in exploration and production (E&P) is considered to be
key factors influencing the development of pressure control equipment market.
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Pressure Control Equipment Market – Notable Developments
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Some of the leading players operating in the pressure control equipment market
are Schlumberger, GKD Industries, Integrated Equipment, Brace Tool, Hunting, TIS
Manufacturing, Baker Hughes, a GE company (BHGE), National Oilwell Varco, Weatherford
International, The IKM Group, FHE USA, Control Flow, Lee Specialties, The Weir Group,
IoT Group, and others.
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In February 2019, Schlumberger and Rockwell Automation, one of the largest
companies dedicated to industrial automation and information, entered into an
agreement to form a joint venture called Sensia, the first fully-integrated provider
of digital oilfield automation solutions. Additionally, it created a JV – OneStim
with Weatherford International, PLC in March 2017 to offer unconventional resource
plays’ products and services to their customers in the U.S. and Canada.
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In September 2018, Baker Hughes, a GE company (BHGE), a key player of pressure
control equipment market, was awarded an integrated services contract by Saudi Aramco
for its Marjan Oilfield. Under the contract’s terms the company provided drilling
services, drilling fluids engineering services, and coiled tubing services in Marjan.
BHGE also received a similar contract from Equinor in June 2018 to support the
petroleum company’s large proportion of drilling and well construction activities in
the North Sea’s Norwegian sector.
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Pressure Control Equipment Market Dynamics
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Increasing demand for hydrocarbons, which serve as a key source of global energy
supply, has brought a significant transformation in oil and industry in various
regions across the globe. Such transformation has led to advances in well drilling
technologies and adoption of a variety of equipment including pressure control
equipment which measures, monitor, and control the fluid pressure.
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Surging demand for oil and gas equipment along with the rising need for higher
safety norms by well drilling contractors is expected to accelerate the growth of <a
href="http://www.baojisafe.com/pressure-control-equipment/slickline-pressure-
control-equipment/" target="_self">slikline pressure control equipment</a> market. In
addition, increasing requirements of special instruments and materials in high
pressure and high temperature wells will possibly push the demand for pressure
control equipment.
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North America to Contribute Substantial Growth to <a
href="http://www.baojisafe.com/pressure-control-equipment/" target="_self">Pressure
Control Equipment</a> Market
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Leading players foresee North America as a lucrative region for pressure control
equipment market, due to increase in deepwater drilling activities in the region.
Continued focus on unconventional sources and shale plays on the coattails of various
technological innovations and developments is anticipated to drive the pressure
control equipment market in the developed countries of North America such as the U.S.
and Canada. Further, surge in unconventional hydrocarbon production in the region has
been envisaged to complement the future expansion of pressure control equipment
market.
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While increasing capital spending by leading companies in North America will
continue to propel the market growth, factors such as lack of expertise, failure in
drilling rig activities, and limited exposure to technologies may influence passive
growth of pressure control equipment market.
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The study presents reliable qualitative and quantitative insights into:
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Pressure control equipment market segments and sub-segments
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Pressure control equipment market trends and dynamics
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Supply and demand chain of the pressure control equipment market
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Pressure control equipment market valuation (revenue and/or volume)
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Key trends/opportunities/challenges in pressure control equipment market
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Forces defining present and estimated future state of the competitive landscape
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Technological developments in the market of pressure control equipment, including
<a href="http://www.baojisafe.com/pressure-control-equipment/pressure-control-stack-
for-coiled-tubing/" target="_self">pressure control stack for coiled tubing</a>
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