Pressure Control Equipment Market Size - By Component, By Category, By Price Range, By Application, By End-Use, By Distribution Channel, Forecast 2024 - 2032

Pressure Control Equipment Market Size

The global pressure control equipment market was valued at around USD 7.7 billion in 2023 and is estimated to register a CAGR of around 4.6% from 2024 to 2032.
 

In the oil and gas industry, pressure control equipment plays a pivotal role in ensuring safe and efficient operations, especially during exploration, drilling, and production. With global energy demand on the rise, there's an increasing reliance on advanced pressure control solutions. These solutions are crucial for managing the intense pressures found in deepwater, ultra-deepwater, and shale reserves. This consistent demand underscores the market's steady growth trajectory.
 

Advanced materials and technology are essential for pressure control equipment, particularly in high-pressure applications like deepwater drilling and shale extraction. Smaller companies, especially those in budget-constrained regions, often find the high initial costs of purchasing, installing, and maintaining this equipment prohibitive. Furthermore, the global shift towards environmental sustainability and renewable energy sources presents a long-term challenge for the market.
 

Pressure Control Equipment Market Trends

As easily accessible oil and gas reserves dwindle, exploration is increasingly venturing into challenging terrains, including deepwater zones and unconventional shale formations. Navigating these environments demands advanced pressure control technologies, not only to bolster safety but also to mitigate risks and boost operational efficiency. Globally, stringent regulatory frameworks—especially in high-stakes sectors like oil & gas, power generation, and chemical processing—mandate the deployment of pressure control equipment to uphold safety standards.
 

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.
 

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 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.
 

Pressure Control Equipment Market Share

The Pressure Control Equipment industry is fragmented, with several regional companies operating on a global scale. In 2023, the Schlumberger Limited, Emerson Electric Co., Honeywell International Inc., Schneider Electric SE, The Weir Group PLC, led the market. To expand their customer base, broaden their product offerings, and establish a stronger foothold in the market, these corporations strategically deploy mergers, acquisitions, partnerships, and facility expansions. They also leverage their vast distribution networks and resources to investigate new markets.
 

Pressure Control Equipment Market Companies

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 Industry News

• In May 2024, Emerson launched the AVENTICS™ Series 625 Sentronic Proportional Pressure Control Valves, marking a significant leap in precision pressure management. Boasting a control deviation of under 0.5%, these valves are crafted for superior electronic proportional pressure control. Such precision guarantees peak performance across diverse applications. With adaptability at its core, the AVENTICS Series 625 Sentronic valves cater to advanced pneumatic control engineering, allowing users to customize their pressure control systems to align with distinct operational needs.
   
• In January 2021, Honeywell launched the next generation of its Cabin Pressure Control and Monitoring System (CPCMS), designed for use in both commercial and military aircraft. This innovative system represents a significant advancement in aviation technology, featuring an all-electric design that is not only lighter but also more efficient than its predecessors. Now available for business jets, regional aviation, and tactical or military trainer-sized aircraft, the new CPCMS enhances the safety and comfort of passengers and crew by effectively maintaining and monitoring air pressure within the cabin.
   

This pressure control equipment market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and volume (Million Units) from 2021 to 2032, for the following segments:

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Market, By Component

• Valves
• Control Head
• Wellhead Flange
• Adapter Flange
• Quick Unions
• Flexible Hoses
• Others (Sensors, Gauges, Etc)

Market, By Category

• Wireline Pressure Control Equipment
• Coiled Tubing Pressure Control Equipment

Market, By Price Range

• Low
• Medium
• High

Market, By Application

• Offshore
• Onshore

Market, By End-Use

• Oil & Gas
• Chemicals
• Energy & Utilities
• Manufacturing
• Mining
• Pulp & Paper
• Others (Marine, Construction, Etc)

Market, By Distribution Channel

• Direct
• Indirect

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Malaysia
  • Indonesia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA