Growth Projections for the Oil Accumulator Market: Expanding to USD 112 Billion by 2034 | Future Market Insights, Inc.

The global oil accumulator market is set to reach USD 51.2 billion by 2024 and is expected to grow at a CAGR of 8.1% from 2024 to 2034, potentially hitting USD 112 billion by 2034, driven by rising demand and sector expansion.

/EIN News/ -- NEWARK, Del, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The global oil accumulator market is set to experience substantial growth, with an anticipated valuation of USD 51.2 billion by 2024. The market is projected to expand at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2034, reaching an estimated USD 112 billion by the end of 2034.

The increasing demand for oil accumulators is helping to reduce environmental pollutants emitted during oil and gas drilling. The global exploration efforts for oil and gas are driving market expansion, as the need for these accumulators grows.

Rising Capacitor Demand: As global crude oil needs rise, so does the demand for capacitors used in oil and gas accumulators. The growth of the oil accumulator market is supported by the increasing demand from end-use sectors.

Key Growth Drivers: Significant factors contributing to market expansion include heightened exploration activities in the oil and gas sector and growing concerns over environmental and health impacts of oil and gas production, which drive the need for oil accumulators.

Market Value CAGR of Oil Accumulator Market

Countries	Value CAGR (2024 to 2034)
China	8.90%
United States	8.40%
Japan	6.30%
United Kingdom	9.50%
South Korea	10.50%

“With the oil and gas industry's continuous evolution, oil accumulators have become indispensable. Their role in enhancing system performance and adhering to environmental regulations is driving significant market growth.” – Commented Nikhil Kaitwade - Associate Vice President at Future Market Insights, Inc.

Key Takeaways:

• South Korea’s oil accumulator market is expected to grow at a CAGR of 10.5% from 2024 to 2034.
• The UK market is projected to develop at a CAGR of 9.5% during the same period.
• China’s sales of oil accumulators are forecasted to rise at a CAGR of 8.9% from 2024 to 2034.
• The US market is anticipated to grow at a CAGR of 8.4% through 2034.
• The bladder accumulator segment is expected to register a CAGR of 7.9%.
• The blowout preventer and wellhead control segment is projected to exhibit a CAGR of 7.7%.
• Japan’s market is likely to show a CAGR of 6.3% over the forecast period.
  

Prominent Drivers of the Oil Accumulator Market:

1. Rising Exploration Activities: Increased oil and gas exploration globally is boosting demand for oil accumulators.
2. Environmental Regulations: The need to reduce pollutants from drilling operations drives the adoption of oil accumulators.
3. Growth in End-Use Sectors: Higher demand in industries such as construction, mining, and manufacturing supports market expansion.
4. Technological Advancements: Innovations in hydraulic systems and accumulator design enhance performance and efficiency.
5. Infrastructure Investments: Increased funding for infrastructure projects propels the use of oil accumulators.
6. Health and Safety Concerns: Rising awareness of environmental and safety issues related to oil and gas production fuels market growth.

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Challenges of the Oil Accumulator Market:

1. Rising Production Costs: Increased expenses in production are creating challenges for the market.
2. Shift Towards Sustainable Energy: A global transition to renewable energy sources is impacting the demand for traditional oil products.
3. Focus on Renewable Energy: Growing emphasis on renewable energy sources is affecting the oil industry.
4. Climate Change Mitigation: Efforts to combat climate change are leading to reduced demand for crude oil.
5. Challenges for Oil Accumulators: The overall decline in crude oil demand is impacting the market for oil accumulators.
   

Key Players of the Oil Accumulator Market:

• Hydac
• Parker Hannifin
• Bosch Rexroth AG
• NIPPON ACCUMULATOR CO. LTD.
• Technetics Group
• Eaton Corporation PLC
• Hannon Hydraulics
  

Regional Analysis:

• Asia Pacific: Market growth in this region is fueled by increased investments in offshore oil exploration and advanced hydraulic systems across industries such as mining, construction, and manufacturing.
• Europe: The focus on renewable energy sources is leading to the integration of oil accumulators into hydraulic systems for storing excess energy from solar and wind power. Technological advancements in design and manufacturing are also driving market expansion.
• North America: The growth in infrastructure projects and the demand for high-performance hydraulic systems, along with increased factory automation, are propelling the adoption of oil accumulators in this region.
  

Key Segments of the Oil Accumulator Market

By Type:

• Bladder Accumulator
• Piston Accumulator
• Diaphragm Accumulator
  

By Application:

• Blow Out Preventer and Well Head Control
• Offshore Rigs
• Mud Pumps
  

By Region:

• Asia Pacific
• Europe
• North America
• Middle East
• Africa
• South America

Dive into FMI’s up-to-date coverage and insights into the Oil Accumulator industry

The global expansion valve market size is projected to reach USD 11.5 billion in 2024. It is estimated to surge at a CAGR of 4.2% during the forecast period ranging from 2024 to 2034.

The industrial valve market size is expected to be valued at around USD 81.55 billion in 2024. Due to the increasing usage of industrial valves to control the flow of materials, the demand is expected to develop at a moderate CAGR of 4.2% between 2024 and 2034, reaching a worth of USD 123.05 billion by 2034.

The aerospace valves market value is expected to be worth USD 10.8 billion in 2023. The revenue from sales of aerospace valves is likely to account for nearly USD 17.6 billion by 2033.

The North America market for Residential Ball Valves will grow at a CAGR of 5.6%, reaching a valuation of USD 554.1 Million in 2032.

The global thermostatic radiator valves market share is projected to amass a revenue of around USD 413.1 million by 2033, up from USD 271.2 million in 2023 moving forward with a CAGR of 4.3% during the forecast period.

The North America market for Pressure Regulating Valves will grow at a CAGR of 5.1%, reaching a valuation of USD 1,293.5 Million in 2032.

The valve remote control systems industry is likely to soar at 6.7 % CAGR over the forecast period 2023 and 2033.

The global valve positioner market share is estimated to advance at a moderate CAGR of 5.5%, helping it reach USD 3.3 billion by 2034. The market was valued at USD 1.9 billion in 2024, and the previous year recorded a market valuation of USD 1.8 billion.

The global lead acid battery market share valued at USD 59.7 billion in 2023. It is further projected to witness a 4.8% y-o-y growth in 2024 and reach USD 62.6 billion in the same year.

The global power quality equipment market size is projected to reach USD 41.1 billion in 2024. It is anticipated to rise at a CAGR of 6% during the assessment period and is projected to reach a value of USD 73.7 billion by 2034.

Author by:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Der globale Markt für Ölakkumulatoren wird voraussichtlich ein beträchtliches Wachstum verzeichnen und bis 2024 einen erwarteten Wert von 51,2 Milliarden USD erreichen. Der Markt wird voraussichtlich von 2024 bis 2034 mit einer durchschnittlichen jährlichen Wachstumsrate (CAGR) von 8,1 % wachsen und bis Ende 2034 einen geschätzten Wert von 112 Milliarden USD erreichen.

Die steigende Nachfrage nach Ölakkumulatoren trägt dazu bei, die Umweltschadstoffe zu reduzieren, die bei der Öl- und Gasförderung freigesetzt werden. Die weltweiten Explorationsbemühungen für Öl und Gas treiben die Marktexpansion voran, da der Bedarf an diesen Akkumulatoren wächst.

Steigende Nachfrage nach Kondensatoren: Mit dem steigenden weltweiten Bedarf an Rohöl steigt auch die Nachfrage nach Kondensatoren, die in Öl- und Gasakkumulatoren verwendet werden. Das Wachstum des Ölakkumulatormarktes wird durch die steigende Nachfrage aus den Endverbrauchssektoren unterstützt.

Wichtige Wachstumstreiber: Wichtige Faktoren, die zur Marktexpansion beitragen, sind verstärkte Explorationsaktivitäten im Öl- und Gassektor und wachsende Bedenken hinsichtlich der Umwelt- und Gesundheitsauswirkungen der Öl- und Gasproduktion, die den Bedarf an Ölspeichern erhöhen.

Wichtige Erkenntnisse:

• Der südkoreanische Markt für Ölspeicher wird voraussichtlich von 2024 bis 2034 mit einer durchschnittlichen jährlichen Wachstumsrate von 10,5 % wachsen.

• Der britische Markt wird im selben Zeitraum voraussichtlich eine durchschnittliche jährliche Wachstumsrate von 9,5 % aufweisen.

• Die chinesischen Verkäufe von Ölspeichern werden von 2024 bis 2034 voraussichtlich mit einer durchschnittlichen jährlichen Wachstumsrate von 8,9 % steigen.

• Der US-Markt wird voraussichtlich bis 2034 mit einer durchschnittlichen jährlichen Wachstumsrate von 8,4 % wachsen.

• Das Segment der Blasenspeicher wird voraussichtlich eine durchschnittliche jährliche Wachstumsrate von 7,9 % verzeichnen.

• Das Segment der Blowout-Preventer und Bohrlochkopfsteuerung wird voraussichtlich eine durchschnittliche jährliche Wachstumsrate von 7,7 % aufweisen.

• Der japanische Markt wird im Prognosezeitraum voraussichtlich eine durchschnittliche jährliche Wachstumsrate (CAGR) von 6,3 % aufweisen.

Wichtige Treiber des Ölspeichermarktes:

1. Steigende Explorationsaktivitäten: Die weltweit zunehmende Öl- und Gasexploration steigert die Nachfrage nach Ölspeichern.

2. Umweltvorschriften: Die Notwendigkeit, Schadstoffe aus Bohrarbeiten zu reduzieren, treibt die Einführung von Ölspeichern voran.

3. Wachstum in Endverbrauchssektoren: Eine höhere Nachfrage in Branchen wie Bauwesen, Bergbau und Fertigung unterstützt die Marktexpansion.

4. Technologische Fortschritte: Innovationen bei Hydrauliksystemen und Akkumulatordesign verbessern Leistung und Effizienz.

5. Infrastrukturinvestitionen: Erhöhte Finanzierung von Infrastrukturprojekten treibt die Verwendung von Ölspeichern voran.

6. Gesundheits- und Sicherheitsbedenken: Das zunehmende Bewusstsein für Umwelt- und Sicherheitsprobleme im Zusammenhang mit der Öl- und Gasproduktion treibt das Marktwachstum an.

Herausforderungen des Ölspeichermarktes:

1. Steigende Produktionskosten: Erhöhte Produktionskosten schaffen Herausforderungen für den Markt.

2. Umstellung auf nachhaltige Energie: Ein globaler Übergang zu erneuerbaren Energiequellen wirkt sich auf die Nachfrage nach traditionellen Ölprodukten aus.

3. Fokus auf erneuerbare Energie: Die zunehmende Betonung erneuerbarer Energiequellen wirkt sich auf die Ölindustrie aus.

4. Klimaschutz: Bemühungen zur Bekämpfung des Klimawandels führen zu einer geringeren Nachfrage nach Rohöl.

5. Herausforderungen für Ölspeicher: Der allgemeine Rückgang der Nachfrage nach Rohöl wirkt sich auf den Markt für Ölspeicher aus.