Increase in oil prices will boost the new drilling activities in U.S
US: U.S. energy company CEOs are planning for new
drilling activities, as the price of crude oil reaches USD50 per barrel or
more. The rise in crude oil prices would bring shale gas again in picture which
was put on hold over last year due to decline in crude oil price which crossed nearly
USD25 per barrel.
TechSci Research depicts that the increase in crude oil price would
drive the demand for oil & gas accumulators as they are used for multiple
applications such as energy storage, pulsation dampening, absorbing shocks,
maintaining pressure and distributing fluids under pressure. Accumulators are
predominantly used in oil & gas rigs as pressure control equipment in
Blowout Preventer (BOP) application. These are also being
employed in mud pumps for pulsation dampening and in various other
hydraulically operated equipment in oil & rigs which will provide impetus
to Oil and Gas Accumulator Market in United States
According to recently
released TechSci Research report, “United States Oil & Gas Accumulator Market Forecast &
Opportunities, 2020”, the oil & gas accumulators market in the United
States is projected to grow at a CAGR of over 6% during 2015-20. The BOP
application segment will contribute to the maximum share in the US oil &
gas accumulator market. Bladder type accumulator is the most commonly used
accumulator in United States. However, with increasing deep water drilling
activities, the demand for piston type accumulators is also anticipated to
increase in the coming years, on account of its high pressure handling
capabilities.