The global BoP handling system market is anticipated to reach a volume of 1,087,152 thousand units by 2030. The BoP handling system market is projected to expand at a CAGR of ~7% in terms of volume from 2020 to 2030. The growth of the BoP handling system market can be attributed to rising adoption of BoP handling machines in the oil & gas sector for drilling and exploration, which has triggered their demand globally. During the forecast period, Europe is anticipated to emerge as the leading BoP handling system market, followed by Asia Pacific and North America.
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BoP Handling System: Market Segmentation
The global BoP handling system market has been segmented in terms of capacity, application, and region. Based on capacity, the BoP handling system market has been classified into up to 2,500 LBS, 2,500-5,500 LBS, 8,000 - 12,000 LBS, and more than 13,000 LBS. Among applications, the oil & gas segment dominated the global BoP handling system market in 2019.
BoP Handling System Market: Regional Outlook
In terms of region, the global BoP handling system market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is anticipated to lead the BoP handling system market during the forecast period. Germany is estimated to hold a notable share of the market in Europe and the market in the country is projected to expand at a CAGR of 8.1% during the forecast period, in terms of volume. Asia Pacific is expected to hold a significant share of the global BoP handling system market, and accounted for a substantial share in 2019, with India, China, and Japan being the major markets in the region. The BoP handling system market in North America, Middle East & Africa, and South America is also projected to increase moderately during the forecast period.
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The report provides in-depth segment analysis of the global BoP handling system market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the BoP handling system market.
BoP Handling System Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global BoP handling system market. Key players profiled in the report include Ingersoll Rand Inc., Baker Hughes Company, EFC Group, Fukushima Ltd, GerOil Oil and Gas Products, J.D. NEUHAUS, James Fisher and Sons plc, Markey Machinery Co Inc., Mile Marker Industries LLC, National Oilwell Varco, RAM Winch & Hoist, Ramsey Winch, Schlumberger Limited., Superwinch, TWG, Inc., and WARN Industries, Inc.
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