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.