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Pressure Control Equipment Market Is expected to Grow From USD 7.4 billion by 2023
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Wellhead flange held largest size of pressure control equipment between 2017 and 2023
Wellhead flange held the largest size [url=http://www.teamraidersjerseys.com/foster-moreau-jersey/]Raiders Foster Moreau Jersey[/url] , in terms of value, of the pressure control equipment market between 2017 and 2023. Wellhead flanges are designed to be installed on to wellheads and provide a transition between the christmas tree and the well intervention pressure control equipment. Wellhead flange serves as the termination point of casing and tubing strings. It provides access to the main bore of the casing and control pressure inside the bore. Wellhead flange allows drilling and completion activities to take place safely with minimal environmental risk.
Download PDF Brochure @High pressure to grow at highest CAGR during forecast period
High pressure segment is expected to grow at the highest CAGR from 2018 to 2023. High pressure and high temperature wells require special instruments and materials. They also require extra preventive measures and experience as they are considered volatile reservoir environments. Thus, the need for instruments for high pressure environments provides companies the opportunity to customize pressure control equipment using special materials.
North America held largest size of pressure control equipment market during forecast period
North America held the largest size of pressure control equipment market
during forecast period. Increase in drilling activities in key tight and shale
basins and inception of several new projects in the federal offshore Gulf of
Mexico are expected to drive the demand for pressure control equipment in the
region. There are a significant number of hydrocarbon reserves located near
British Columbia and the Newfoundland region. To determine the potential
presence of hydrocarbons at distinct locations in the country, ExxonMobil Canada
Ltd. is planning to conduct a program for petroleum exploration drilling and
association activities in the
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