Home > Industrial Machinery > Industrial Equipment > Pressure Control Equipment Market

Pressure Control Equipment Market Analysis

  • Report ID: GMI11698
  • Published Date: Oct 2024
  • Report Format: PDF

Pressure Control Equipment Market Analysis

Based on the component, the valves segment accounted for revenue of around USD 2.4 billion in 2023 and is expected to reach USD 3.7 billion by 2032. Valves play a crucial role in regulating the flow and pressure of fluids, gases, and slurries in industrial systems. From oil & gas to chemical processing, power generation, and water management, valves ensure safe and efficient operations by modulating pressure. As industries increasingly prioritize efficient pressure control, the demand for high-performance valves has surged.
 

In the power generation sector, especially in nuclear and thermal power plants, valves are essential for managing steam and fluid pressures. Likewise, in the water and wastewater treatment sector, valves are pivotal in regulating flow and pressure, particularly in desalination and distribution systems.
 

Global Pressure Control Equipment Market Revenue Share, By End-Use, (2023)

Based on end-use, the oil & gas segment emerged dominated the 45% share of the pressure control equipment market in 2023 and is expected to reach 46% by 2032. Oil and gas exploration and production focus on extracting resources from reservoirs, frequently in challenging environments such as deepwater or shale formations. These operations depend on advanced pressure control equipment to uphold well integrity, regulate reservoir pressure, and avert blowouts or other hazardous incidents. Given the oil and gas sector's high-risk nature, the potential for blowouts, leaks, and explosions looms large. Thus, pressure control equipment—including blowout preventers (BOPs), valves, and pressure relief systems—plays a pivotal role in mitigating these risks.
 

North America Pressure Control Equipment Market Size, 2021 – 2032, (USD Billion)

North America held approximately 43% share of the pressure control equipment market in 2023 and will cross USD 5.1 billion by 2032. North America, especially the U.S. and Canada, stands out as a top producer of oil and natural gas. The shale boom in the U.S. has reshaped energy production dynamics, with techniques like hydraulic fracturing and horizontal drilling driving a surge in output. Stringent regulations in North America's oil and gas sector emphasize safety and environmental protection. Central to adhering to these regulations is pressure control equipment, which plays a pivotal role in averting blowouts, leaks, and other potential hazards.
 

Country-level Analysis

The U.S. dominated the North America pressure control equipment market with revenue of over USD 2.6 billion in 2023 and is expected to grow at a CAGR of 5.1% during 2024 to 2032. Leading the charge in the oil and gas sector, the U.S. is at the forefront of developing and implementing cutting-edge technologies. Companies are channeling investments into innovative pressure control solutions, such as automated pressure control systems, blowout preventers (BOPs), and state-of-the-art digital monitoring technologies. These technological strides not only bolster operational efficiency and safety but also amplify the demand for contemporary pressure control equipment.
 

Germany dominated the Europe Pressure Control Equipment market with market share of around 24% in 2023 and is expected to grow at a CAGR of 5.1% from 2024 to 2032. Renowned for its engineering prowess and technological breakthroughs, Germany stands at the forefront of innovation. With substantial investments in research and development, the nation has pioneered advancements in pressure control technologies, encompassing automation, digitalization, and real-time monitoring systems. This commitment to innovation not only bolsters the capabilities of pressure control equipment but also propels market growth.
 

Germany's rigorous regulations and safety standards, especially in critical sectors like oil and gas, chemicals, and manufacturing, underscore the importance of reliable pressure control equipment. Adhering to these stringent regulations is paramount to avert accidents and environmental mishaps, thereby amplifying the demand for cutting-edge solutions.
 

China dominated the Asia Pacific pressure control equipment market share of around 33% in 2023 and expected to grow at a CAGR of 4.7% from 2024 to 2032. China's thriving industrial sector, encompassing manufacturing, chemical processing, and construction, fuels a significant demand for pressure control equipment. With industrial expansion comes an escalating need for efficient and safe pressure management systems, propelling market growth. The Chinese government is making substantial investments in infrastructure development, targeting pipelines, refineries, and petrochemical plants. Such projects necessitate cutting-edge pressure control systems to guarantee safe and efficient operations, further bolstering market growth.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of pressure control equipment was exceeded USD 7.7 billion in 2023 and is predicted to grow at a CAGR of about 4.6% between 2024 and 2032, due to the rising investments in shale gas exploration.

The valves segment led the market with USD 2.4 billion in 2023 and is predicted to hit USD 3.7 billion by 2032, playing a key role in regulating flow and pressure in industrial systems.

The oil & gas segment held 45% share of the pressure control equipment industry in 2023 and is set to reach 46% by 2032, driven by resource extraction from challenging environments like deepwater and shale formations.

North America region held about 43% share of the pressure control equipment market in 2023 and is expected to exceed USD 5.1 billion by 2032, propelled by the U.S. and Canada

Major players operating in the pressure control equipment industry are Aker Solutions ASA, Baker Hughes Company, Cameron International Corporation, Curtiss-Wright Corporation, Dril-Quip, Inc., Emerson Electric Co., FMC Technologies, Inc., General Electric Company (GE Oil & Gas), Halliburton Company, Honeywell International Inc., National Oilwell Varco, Inc., Schlumberger Limited, Schneider Electric SE, TechnipFMC plc, The Weir Group PLC.

Pressure Control Equipment Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 365
  • Countries covered: 23
  • Pages: 310
 Download Free Sample