Global BoP Handling Systems Market was valued $xx Mn in 2019 and is expected to rech $xx Mn by 2026, at a CAGR of xx% during the forecast period.

Global BoP Handling Systems Market Introduction

A BOP handling system is a specified valve or mechanical device used to control, monitor, and seal oil gas wells to prevent blowouts. They are usually installed in stacks of other valves. BOP handling systems are of two types: ram blowout preventer and annular blowout preventer. Blowout preventers are used on offshore rigs, subsea wells, and land wells.

Global BoP Handling Systems Market Dynamics

Demand for oil gas products is increasing at a significant rate. The demand and supply gap has led various companies to invest their financial and technological resources in exploring new oil fields and improving oil gas extraction efficiency. Governments of different countries such as India and China are investing in oil gas companies. The Government of Dubai, as of 2017, owns 1,381 oil gas companies. This, in turn, is expected to enhance the demand for BOP handling systems with the rising number of oil gas plants. BOP handling systems are used in construction, mining, metallurgy, and freight sectors. The rise in demand for BOP handling systems in the heavy lifting of cargos in harbours and ships is anticipated to augment the global BOP handling system market.

Global BoP Handling Systems Market Segment Analysis

Drilling operations across the oil gas sector have proved to be hazardous due to which, considerable efforts are being made to minimize casualties and increase overall safety. BoP handling systems are primarily deployed to ensure safety across drilling operations and as per current observations, the adoption is likely to remain consistent over the upcoming years. The growing demand for efficiency across the oil gas sector has played a key role in improving the overall quality and performance of BOP handling systems. To Know About The Research Methodology :- Request Free Sample Report

Global BoP Handling Systems Market Regional Insights

Germany is estimated to hold a notable share of the market in Europe and the market in the country are projected to expand at a CAGR of 8.1% during the forecast period, in terms of volume. The Asia Pacific is expected to hold a significant share of the global BOP handling system market, and accounted for a substantial share in 2019, with India, China, and Japan being the major markets in the region. The BoP handling system market in North America, Middle East Africa, and South America is also projected to increase moderately during the forecast period.

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Global BoP Handling Systems Market, By Region

• North America • Europe • South America • MEA • Asia Pacific

Global BoP Handling Systems Market Key Players

• EFC Group • Ingersoll Rand INC • Bakers Hughes Company • Fukushima Ltd • GerOil Oil and Gas Products • J.D. Neuhaus • James Fisher and Sons plc • Markey Machinery Co Inc. • Mile Marker Industries LLC • National Oilwell Varco • RAM Winch Hoist, Ramsey Winch • Superwinch • TWG, Inc. • WARN Industries, Inc. • Schlumberger Limited