Acknowledging the kind of traction gained by this market, Industry Data Analytics recently published a study report asserts the global Control Flow Choke Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 4.7% during the review period (2022 to 2027).
The feature responsible for the growth of the control flow choke market is the robust growth of industries such as oil and gas, chemical processing, energy & power generation, food and beverages, and general machinery, among others. Furthermore, low production cost and labor cost in developing economies are inspiring various end users and industrial operators to expand their manufacturing facilities in these regions, which, in turn, is anticipated to drive the demand for control flow chokes. Development in digitalization and the growing need for remote applications have boosted the demand for smart control flow chokes that help in improving durability and minimizing product loss.
Currently, the increase in crude oil prices is giving opportunities for new investments in drilling and production processes, and is driving the installation of new control flow chokes. For an instance, in the U.S., hydraulically-fractured horizontal wells cover nearly 68% of the wells that were drilled for oil and gas in previous year. This has given an opportunity for the suppliers and manufacturers of control flow chokes in oil and gas upstream operations.
Industry Developments:
12th October 2021:IMI Critical Engineering recently helped a new client quickly find a solution to a complex set of requirements utilising newly developed water injection choke valves.
August 18, 2021: Schlumberger (NYSE: SLB) has announced the launch of Autonomous Directional Drilling (ADD).
The new technology includes solutions to steer autonomously through any section of the wellbore, according to Schlumberger, which outlined that the system leverages an intelligent and dynamic downhole automated control system that instantly interprets and acts on data.
The Foldable Intermediate Bulk Containers (IBC) Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, and the prices they charge. These are the main players in this market includes Schlumberger, Weir Group, National Oilwell Varco, TechnipFMC, Emerson, GE(Baker Hughes), Master Flo, IMI Critical Engineering, Kent Introl, Velan, Taylor Valve Technology, Cortec Corporation, Lancaster Flow Automation, Cyclonic Valve Company, N-Line Valves and others.
Control Flow Choke Market is segmented based on the Product , applications, End users, companies and regions.
Global Control Flow Choke Market, by Product
Global Control Flow Choke Market, by Application
Shale gas is mainly produced in countries such as the U.S., China, Canada, and Argentina. These nations commercially produce either shale gas or crude oil from tight oil. Currently, shale gas and tight oil production is driven by the U.S., where control flow chokes are installed. Development in digitalization and the growing need for remote applications have improved the demand for smart control flow chokes that help in improving durability and minimizing product loss. China, India, Mexico, Argentina, and the ASEAN region are picking up in the control flow choke market, owing to the robust outlook of numerous industries in these regions.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 4.7% during the review period (2022 to 2027). |
By Types |
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By Application |
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By Companies | Schlumberger, Weir Group, National Oilwell Varco, TechnipFMC, Emerson, GE(Baker Hughes), Master Flo, IMI Critical Engineering, Kent Introl, Velan, Taylor Valve Technology, Cortec Corporation, Lancaster Flow Automation, Cyclonic Valve Company, N-Line Valves |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 139 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Control Flow Choke Market is studied from 2017 - 2027.
What is the growth rate of Control Flow Choke Market?
The Control Flow Choke Market is growing at a CAGR of 4.7% over the next 5 years.
Who are the leading key players in Control Flow Choke Market?
Schlumberger, Weir Group, National Oilwell Varco, TechnipFMC, Emerson, GE(Baker Hughes), Master Flo, IMI Critical Engineering, Kent Introl, Velan, Taylor Valve Technology, Cortec Corporation, Lancaster Flow Automation, Cyclonic Valve Company, N-Line Valves
What regions regions does this Control Flow Choke Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant Types of Control Flow Choke Market?
Adjustable Choke, Fixed Choke
What are the significant Application of Control Flow Choke Market?
Chemicals & Petrochemicals, Food & Beverages, Pharmaceuticals, Paper & Pulp, Power Generation, Others
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SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
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