Albany, NY -- (SBWIRE) -- 02/19/2015 -- Blowout preventer (BOP) is a mechanical device that is used to seal, control and monitor oil and gas wells. Once sealed, it allows access to the wellbore below the BOP to control the well. They are developed to control high pressure and turbulent flow emerging from a well reservoir during exploration phase. Blowout preventers are essential to the safety of workers, drilling rig and environment. Blowout preventers are also used to carry out routine operational tasks such as formation strength tests and casing. Installation of blowout preventer at the drilling site is a mandatory requirement.

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Blowout preventer can be segmented based on the type such as ram and annular. Both are frequently used together in drilling rigs. Ram blowout preventer are of four major types: pipe rams, blind rams, shear rams and blind shear rams. Advanced technologies of ram BOPs has directed towards deeper and high pressure wells, low maintenance and greater reliability. Major components used in BOP system are low marine riser package, the BOP stack and the control system.

Some of the major drivers of the blowout preventer market are new acreages of oil and gas and increased investments in drilling activities. However, high cost of the metal used in the making of blowout preventer can hinder the growth of the market. Some of the key players in the manufacturing of blowout preventers are Alco Inc, American Completion tools Inc, Domino Machine Inc, Drilling Controls Inc, Eastern Oilfield Supply LLC, Henderson Oilfield Products LLC, Kingrig group Ltd, Piper Oilfield Products, Radoil Inc, and Shinpec International Trade Corporation Ltd among others.

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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include:

- North America
- Asia Pacific
- Europe
- Rest of the World

This report provides comprehensive analysis of:

- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter?s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

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