Oil & Gas Hydraulic Equipment Market to Witness an Outstanding Growth During 2021- 2026

(The Express Wire via Comtex)

The global oil and gas hydraulic equipment market size is likely to gain impetus from the modernization of the oil and gas industry worldwide, says Fortune Business Insights™ in their recent report. The report is titled, “Oil and Gas Hydraulic Equipment MarketSize, Share and Industry Analysis, By Sector (Upstream, Mid-stream, Downstream), By Location (Onshore, Offshore), By Application (Drill Floor Hydraulics, Ballast Control System, Deck Crane Systems, others) and Regional Forecast, 2019-2026.

Some of the key industry developments in theoil and gas hydraulic equipment market are:

August 2019 Dharmendra Pradhan, the Indian Petroleum Minister, declared the seeking of investments from other parts of the world into the Indian oil and gas sector. He said that the investments are worth INR 5 trillion engaged in activities such as marketing, regasification, distribution, exploration, and pipeline network laying.

September 2019 The asset Purchase Agreement closure was announced by Cuda Oil and Gas Inc., for selling all their natural gas and petroleum rights in Quebec. This includes all licenses, production rights, permits, and interest in the Quebec Province coupled with all the tangible assets including the drilling and other related equipment.

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Some of the significantoil and gas hydraulic equipment marketmanufacturers include:

  • Denley Hydraulics Limited
  • HYDAC Netherlands
  • LLC
  • The Weir Group PLC
  • Maximator GmbH
  • HMS Group
  • Wärtsilä
  • Parker Hannifin
  • Danfoss
  • Independent Hydraulics Inc.
  • Hydrastore Limited
  • TRC Hydraulics, Inc.
  • Aberdeen Dynamics, Inc.
  • Hannon Hydraulics

Research Methodology:

We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.

The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

Key Questions Answered:

• What are the key technological and trends shaping the market?
• What are the key opportunities in the market?
• What are the key companies operating in the market?
• Which company accounted for the highest market share?
• Why Choose Fortune Business Insights?
• What is the market size and growth rate of the global and regional market by various segments?
• What is the market size and growth rate of the market for selective countries?
• Which region or sub-segment is expected to drive the market in the forecast period?
• What Factors are estimated to drive and restrain the Market growth?

North America to Emerge Dominant with Rise in Regional Shale Gas Activities

From a geographical perspective, the global oil and gas hydraulic equipment market are widespread into five major regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. These regions are further categorized into countries. Among these, North America is contributing a dominant oil and gas hydraulic equipment market share. This is owing to the rise in extraction and shale gas activities especially from the U.S. Apart from that, companies in North America are switching to fugal, innovative, and economical technology for cost reduction of extraction or fracking of shale gas.

On the other hand, the Middle East and Africa region are likely to have a positive influence on the market in the region. Currently, this region stands as the largest exporter of oil and gas in the world. The oil and gas reserves in Africa are still unexplored. Therefore, this region may serve as a lucrative market opportunity in the forecast period.

Heavy Investments in Land Permits, Production Rights and Others to Bode Well for Players

Various oil and gas hydraulic equipment market vendors are entering into strategic collaborations to expand their portfolio and earn high revenues collectively. Companies are also investing huge sums into licensing, land permits, production rights and other government impositions to ensure smooth oil and gas operations in the respective reserves.

Regional Analysis:

  • North America (The USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)
  • Middle East and Africa (South Africa, GCC and Rest of the Middle East and Africa)

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Surging Demand from Various Sectors such as Fertilizers, Pharmaceuticals, and others to Boost Market

The rise in demand for energy is a major factor boosting the market growth. Besides this, oil and gas also act as a significant supplier of raw materials for chemical products. Therefore, the increasing demand for oil and gas from end use industries such as pesticides, solvents, fertilizers, pharmaceuticals, and others is further expected to increase the overall market size in the forecast period.

Additionally, the need for refurbishment, up-gradation and modernization of oil and gas industry infrastructure is also an important market growth driver. In addition to that, the IoT and Automation based equipment are further expected to increase the overall market size in the near future.

Major Table of Content -

  1. Introduction
  2. Executive Summary
  3. Market Dynamics
  4. Key Insights
  5. Global Market Analysis, Insights and Forecast 2026
  6. North America Market Analysis, Insights and Forecast 2026
  7. Europe Market Analysis, Insights and Forecast 2026
  8. Asia Pacific Market Analysis, Insights and Forecast 2026
  9. Middle East and Africa Market Analysis, Insights and Forecast 2026
  10. Latin America Market Analysis, Insights and Forecast 2026
  11. Competitive Landscape
  12. Company Profile
  13. Conclusion

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this Market.

https://www.fortunebusinessinsights.com/industry-reports/oil-and-gas-hydraulic-equipment-market-101553

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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