Oil & Gas Equipment & Services · Indirect
Monitoring · monthlyProcurement Category Intelligence
Blowout Preventers
Overview
Market size
$4.2B
global, USD
CAGR
5.8%
base to forecast
Buyer power
-2.4
supplier-favoured
Suppliers
12
tracked players
Signals
12
1 high severity
Market outlook
2031$5.6B
What changed
Demand by region
North America demand45%
Middle East & Africa demand25%
Asia Pacific demand15%
Latin America demand10%
Rest of world demand5%
share of global demandtotal 100%
Cost drivers
Forged and cast alloy steel40%
Precision machining and manufacturing labor25%
Elastomeric seals and packing elements15%
Engineering, QA/QC and compliance certification12%
Freight, logistics and final delivery8%
share of delivered cost (analyst estimate)