Transparency Market Research
Ram Type Blowout Preventer Market Global Industry Analysis, Size, Share,
Trends, Analysis, Growth and Forecast
2015 – 2023
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REPORT DESCRIPTION
Ram type blowout preventers are highly necessary equipments for any well and are utilized for controlling erratic
pressures and uncontrolled flows. Numerous major oil spillages such as the Deepwater Horizon Oil Spill off the Gulf
of Mexico had taken place owing to a faulty blowout preventer. As such, companies today take immense care in
selecting blowout preventers for their rigs and often order more than one blowout preventer as a backup. Annular
and ram are the two basic blowout preventers which are generally employed in drilling operations. These blowout
preventers are usually used together in drilling rig blowout preventers stacks. The ram blowout preventers have to
be designed according to American Petroleum Institute standards of safety. The market for ram type blowout
preventers is anticipated to grow at a substantial rate in future owing to increasing safety standards, especially in
offshore locations.
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Stringent norms and regulations in upstream hydrocarbon sector and efficient exploration operations are some of
the major drivers attracting investment in ram type blowout preventers market. The U.S. has a reputation of having
some of the most stringent regulations globally for oil spills, especially in...