Bladder And Diaphragm Hydraulic Accumulator Market Report Overview
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The global bladder and diaphragm hydraulic accumulator market size was USD 1097.22 million in 2021 and is projected to touch USD 1854.83 million by 2031, exhibiting a CAGR of 5.39% during the forecast period.
A pressure storage tank, an accumulator, provides a certain fluid volume under pressure. Later, this fluid is released to carry out a specific task in the hydraulic system. The fluid is stored by means of an external source, which may be a spring, piston, gas, or fluid. These accumulators are used for various things, including pulse attenuation and noise reduction. These accumulators can be customized and come in a variety of shapes.
A pressure vessel made of steel that has been forged or welded is filled with nitrogen. Pistons are used in piston accumulators to separate gas, and liquid is called a bladder and diaphragm hydraulic accumulator. It comprises tubes with cylinder ends with an inter-surface created for a high-pressure sealing system. The government of both rich and emerging nations has increased investment in power generation, maximizing oil and gas production and other end-use sectors as a result of increasing industrialization, rising electrical demand, and other considerations. For instance, oil and gas accumulators are frequently used for energy storage, pressure management, leakage compensation, and other applications for the Vikash Refinery Modernization Project (VRMP), LNG Regasification Terminal, Versai East Development project for ONGC, and others. It is a crucial element that is expected to
COVID-19 Impact: Lockdown Disrupted the Supply Chain, Which Hampered Growth
The global COVID-19 pandemic has been unprecedented and staggering, with bladder and diaphragm hydraulic accumulators experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
The manufacturing, oil & gas, chemical & plastics, and many other businesses were severely impacted by the COVID-19 pandemic. Additionally, oil and gas operations were greatly prohibited. Global manufacturing and transportation operations, as well as their supply chains, were hampered. This consequently hampered the market growth for industrial electric heating elements. The supply chains were disrupted, and the market was closed. These factors had a long-term effect on the growth of the market. The companies experienced a financial crisis as the supply was on hold, which created challenges in the market's growth.
LATEST TRENDS
"Growing Population Coupled With the Rising Transportation Companies to Drive Market Trends"
Transportation activity has increased owing to the rising population, and this has caused a rise in the demand for oil and gas in the industries that produce it to climb exponentially. This has led to a more linear approach to utilizing oil and gas accumulators for drilling and exploration activities among oil and gas exploration corporations. Additionally, increasing industrial activity has prompted oversight organizations like the (PED) Pressure Equipment Directive, OSHA, and others to emphasize the bladder and diaphragm hydraulic accumulator operating under pressure. These factors are anticipated to prosper bladder and diaphragm hydraulic accumulator market growth.
Bladder And Diaphragm Hydraulic Accumulator Market Segmentation
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- By Type Analysis
By type, the market is segmented into bladder accumulators and diaphragm accumulators.
- By Application Analysis
Based on application, the market is classified into construction equipment, machine tools, agriculture, automotive, wind and solar industry, and fluid power industry.
DRIVING FACTORS
"Various Product Features to Foster Growth"
The market is anticipated to grow faster than average due to rising safety concerns and environmental issues associated with oil and gas exploration activities. Key businesses have started new exploration projects to keep up with the rising demand due to the rapid depletion of crude oil reserves. Bladder and diaphragm hydraulic accumulators play a significant part in oil exploration activities by managing high-pressure fluctuations, compensating for leakage, and attenuating noise during drilling operations. In blow-out preventer (BOP) applications, it is used to seal gas wells and protect them from damage caused by extremely unpredictable pressures and uncontrolled gas flow from the well.
"Government’s Focus on Investing in Power Generation to Boost Machinery Demand"
The governments of rich and emerging nations have increased investment in power generation, enhancing gas and oil production and for other end-use sectors as a result of increasing industrialization, rising electrical demand, and other considerations. For instance, oil and gas accumulators are frequently used for energy storage, leakage compensation, pressure management, and other applications for the LNG Regasification Terminal, Vikash Refinery Modernization Project (VRMP), Versai East Development project for ONGC, and others. It is a crucial element that is projected to present fresh opportunities to the bladder and diaphragm hydraulic accumulator market growth.
RESTRAINING FACTORS
"Inclination towards Renewable Energy May Challenge Market Growth"
The switch to renewable energy sources could impede market expansion. People are becoming more oriented toward using renewable energy sources in various end-use sectors, including transportation with electric vehicles, electricity generation with hydroelectricity, nuclear power, and other end-uses. This is due to emerging trends toward sustainability and a green environment. Moreover, technical difficulties are encountered, which are estimated to hamper the market expansion.
Bladder And Diaphragm Hydraulic Accumulator Market Regional Insights
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"Asia Pacific to Dominate the Market Owing to the Rising Need for Advanced Machinery"
Asia Pacific is expected to hold a leading part in the bladder and diaphragm hydraulic accumulator market share due to the accelerating need for advanced machinery and equipment for oil supply in developing countries such as China, India, and Japan.
Europe is predicted to show significant growth in the global market due to the expanding oil and gas markets in the region.
KEY INDUSTRY PLAYERS
"Key Players Focusing On Innovative Technology Development to Grow in Market"
Businesses are working on developing new technology to offer more easy ways to increase product portfolio. Companies also use innovative practices and techniques to create new technologies. Companies are focused on acquisitions and investments to increase sales. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products.
List of Market Players Profiled
- Hydro LEDUC (France)
- Bosch Rexroth (Germany)
- NACOL (Japan)
- HYDAC (Germany)
- Freudenberg Sealing Technologies
- Buccma (China)
- Roth Hydraulics (Germany)
- NOK (Japan)
- STAUFF (Germany)
- Servi Fluid Power (U.S.)
- Aolaier Hydraulic (China)
- PONAR (Poland)
- Parker (U.S.)
- HAWE Hydraulik (Germany)
- Eaton (U.S.)
- Xunjie Hydraulic (China)
- Accumulator (U.S.)
REPORT COVERAGE
The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2021 through 2027, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 1097.22 Million in 2021 |
Market Size Value By |
US$ 1854.83 Million by 2031 |
Growth Rate |
CAGR of 5.39% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the bladder and diaphragm hydraulic accumulator market expected to touch by 2031?
Based on our research, the bladder and diaphragm hydraulic accumulator market is projected to touch USD 1854.83 million by 2031.
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What CAGR is the bladder and diaphragm hydraulic accumulator market expected to exhibit by 2031?
The bladder and diaphragm hydraulic accumulator market is expected to exhibit a CAGR of 5.39% by 2031.
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What are the segments of the market?
By type, the market is segmented into bladder accumulators and diaphragm accumulators. Based on application, the market is classified into construction equipment, machine tools, agriculture, automotive, wind and solar industry, and fluid power industry.
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Which are the driving factors of the market?
Various product features to foster growth and the government’s focus on investing in power generation to boost machinery demand are the factors driving the market.
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Which are the top companies operating in the market?
Hydro LEDUC, Bosch Rexroth, NACOL, HYDAC, Freudenberg Sealing Technologies, Buccma, Roth Hydraulics, NOK, STAUFF, Servi Fluid Power, Aolaier Hydraulic, PONAR, Parker, HAWE Hydraulik, Eaton, Xunjie Hydraulic, and Accumulator are the top companies operating in the market.
