Oil Accumulator Global Market Report 2024

An oil accumulator is an energy storage device designed to retain fluid using an external source like a spring, gas, or piston, serving various purposes such as noise reduction and pulsation dampening.

The primary oil accumulator types comprise low-density polyethylene, linear low-density polyethylene, high-density polyethylene, ethylene vinyl acetate, and others. Low-density polyethylene is characterized by its soft, flexible, lightweight plastic composition, renowned for attributes like low-temperature flexibility, toughness, and corrosion resistance. This highly versatile plastic finds frequent use in applications such as flexible film and bags. Pressure ratings vary, ranging from up to 6,000 psi to above 6,000 psi, with diverse applications spanning blow-out preventers, wellhead control, offshore rigs, and mud pumps.

The oil accumulator market research report is one of a series of new reports that provides oil accumulator market statistics, including oil accumulator industry global market size, regional shares, competitors with an oil accumulator market share, detailed oil accumulator market segments, market trends and opportunities, and any further data you may need to thrive in the oil accumulator industry. This oil accumulator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The oil accumulator market size has grown strongly in recent years. It will grow from $47.92 billion in 2023 to $51.65 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed in the historical period can be ascribed to the increasing activities in oil exploration, expansion of industrial operations, heightened attention to safety and efficiency, and the overall growth in the global economy.

The oil accumulator market size is expected to see strong growth in the next few years. It will grow to $69.66 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth in the forecast period can be credited to the transition towards renewable energy, the emergence of new markets, the resilience of oil prices, and adherence to regulatory standards. Key trends expected during this period encompass digitalization and IoT integration, the integration of smart technologies, initiatives in green energy, emphasis on customization and modular design, a focus on reducing downtime, collaborative efforts and partnerships, and the expansion of the market in the Asia-Pacific region.

The anticipated growth in exploration and production activities is set to drive the oil accumulator market in the future. In the oil and gas industry, exploration involves geological surveys and securing land rights, while production encompasses both onshore and offshore drilling. Oil accumulators play a crucial role in preventing fluid loss and managing extreme pressures and uncontrolled flow during oil and gas exploration. An example of this trend is seen in the Indian Brand Equity Foundation's report, indicating that in October 2021, the Union Ministry of Petroleum and Natural Gas approved $3.8 billion for increasing refining capacity, and Bharat Petroleum invested $13.66 billion in upstream oil and gas exploration and production in 2021. Consequently, the surge in exploration and production activities is expected to be a driving force for the oil accumulator market in the forecast period.

The growing demand for the oil and gas industry is another factor expected to fuel the expansion of the oil accumulator market. Globally, the oil and gas sector involves the exploration, extraction, refining, and distribution of hydrocarbon-based resources, primarily crude oil and natural gas. As per the EIA, advancements in oil and gas industry technologies will lead to increased per-well recoveries and shale gas output. The proportion of natural gas is projected to rise from 34% to 39% by 2050 due to intensified drilling activities. Consequently, the escalating demand within the oil and gas industry is anticipated to propel the oil accumulator market during the forecast period.

A prominent trend in the oil accumulator market is the emergence of new product innovations. Major companies operating in this market are introducing novel products to maintain their market standing. For instance, in May 2021, Liebherr, a German equipment manufacturer, introduced piston accumulators designed for the 250 and 350 bar pressure range, offering a versatile solution for hydraulic systems with a range of piston diameters from 100 to 360 mm.

Major companies in the oil accumulator market are investing in new technologies to enhance their market profitability. Oxlube L7-NPG, an ester-based oil designed for electric vehicle (EV) fluids, is an example. Launched by OQ Chemicals in September 2022, this ester-based oil offers excellent thermal stability, oxidative stability, and lubricity, making it suitable for high-performance applications, especially in EVs where high temperatures are generated by electric motors and drivetrain components.

In August 2021, Parker Hannifin Corporation, a US-based motion and control technologies company, acquired LORD Corporation for $3.675 billion. This strategic move aimed to create a synergistic business with strong materials science capabilities, focusing on electrification and aerospace product lines. LORD Corporation, a US-based technology and manufacturing company, specializes in developing adhesives, coatings, motion management devices, and sensing technologies for industries such as aerospace, automotive, oil and gas, and industrial.

Major companies operating in the in the oil accumulator market report are Hydac GmbH, Parker Hannifin Corporation, Bosch Rexroth AG, Nipon Accumulator Co. Ltd., Technetics Group, Eaton Corporation PLC, Hannon Hydraulics, The Freudenberg Group, Hydroll oy, Baker Hughes Company, Tobul Accumulator Inc., Roth Industries GmbH & Co. KG, Rotec Hydraulics Ltd., Canton Racing Products, Moroso Performance Products, Valaris Limited, Acadian Contractors Inc., Schlumberger NV, Nabors Industries Ltd., Halliburton Company, Saipem S. p. A, Transocean Ltd., Helmerich & Payne Inc., Airmo Inc., Airtrol Components Inc., Bieri Hydraulik AG, Blacoh Industries Inc., C & C Industries Inc., Enerpac, Fawcett Christie Hydraulics Pvt. Ltd.

North America was the largest region in the oil accumulator market in 2023. The regions covered in the oil accumulator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the oil accumulator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The oil accumulator market consists of sales of weight loaded piston type, diaphragm (or bladder) type, spring type and the hydro pneumatic piston type oil accumulator. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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