Blowout Preventer Global Market Report 2025

The blowout preventer market size has grown strongly in recent years. It will grow from $33.98 billion in 2024 to $35.73 billion in 2025 at a compound annual growth rate (CAGR) of 5.1%. The growth during the historic period can be attributed to the expansion of offshore drilling, increased shale gas exploration, stricter safety regulations following the Macondo incident, rising global energy demand, and growing investments in deepwater oilfields.

The blowout preventer market size is expected to see steady growth in the next few years. It will grow to $43.07 billion in 2029 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to the rise in deepwater and ultra-deepwater projects, advancements in well control technology, increasing demand for remote-operated blowout preventer (BOP) systems, a heightened focus on environmental risk mitigation, and a global drive for improved oil production efficiency. Key trends during the forecast period include the integration of digital monitoring in BOP systems, adoption of smart preventive maintenance, growing use of hybrid BOP designs, increased demand for subsea BOP systems, and the application of AI for predictive failure analysis.

The growing demand for offshore and deepwater exploration activities is anticipated to drive the expansion of the blowout preventers market. Offshore and deepwater exploration involves locating and evaluating underwater oil and gas reserves beneath the ocean floor. This surge in exploration is fueled by the rising global energy needs, which compel energy companies to access more challenging, deep-sea reserves. Blowout preventers play a crucial role in these operations by delivering vital pressure control and emergency shutoff capabilities, thus ensuring safety in high-risk and deepwater drilling scenarios. For example, in March 2025, the Global Energy Monitor, a US-based non-governmental organization, reported that 19 offshore projects began production in 2024, accounting for 71% (around 6.5 billion barrels of oil equivalent) of the year’s newly active reserves. Consequently, the rising offshore and deepwater exploration activities are accelerating the demand for blowout preventers.

Leading companies in the blowout preventers market are developing innovative products featuring hydraulic automatic locking mechanisms to improve safety, reduce maintenance duration, and ensure reliable pressure management in hazardous drilling environments. These hydraulic automatic locking systems utilize hydraulic pressure to automatically engage and secure essential components, eliminating the need for manual operation. For instance, in August 2024, INTLEF Oil and Gas Group Co. Ltd., a China-based oil and gas equipment manufacturer, introduced the QL-type new-generation blowout preventer. This model features a boltless bonnet composite structure that allows for fast opening and closing without bolts, significantly cutting down maintenance time. The hydraulic locking mechanism provides a tight seal under high-pressure conditions and can be operated remotely, enhancing worker safety. The design also improves structural durability and leak prevention, making it particularly suited for demanding drilling operations.

In December 2023, Meyer Oilfield Services Inc., a US-based oil and gas equipment manufacturer, acquired Fabritech Manufacture and Solutions Inc. for an undisclosed sum. This strategic acquisition aims to expand Meyer’s well control solution portfolio by incorporating Fabritech’s advanced capabilities in blowout preventer production. Notably, Fabritech specializes in manufacturing annular and ram BOPs that meet the American Petroleum Institute’s API 16A standards. Fabritech Manufacture and Solutions Inc., also based in the US, focuses on blowout preventer solutions including manufacturing, API monogramming, remanufacturing, and custom engineering for the oil and gas industry.

Major players in the blowout preventer market are Schlumberger Ltd., Rongsheng Machinery, Baker Hughes Company, Halliburton Company, Parker Hannifin Corporation, Tenaris S.A., NOV Inc., TechnipFMC plc, FMC Technologies Inc., Weatherford International plc, Axon Enterprise Inc., Aker Solutions, Dril-Quip Inc., Parveen Industries Pvt. Ltd., Control Flow Inc., Shanghai SK Petrlm & Chemcl Eqp Corp Ltd, Fountain Petro LLC, Uztel S.A., Greenes Energy Group LLC, and MSP/DRILEX (Shanghai) Co. Ltd.

North America was the largest region in the blowout preventer market in 2024, and it is expected to be the fastest-growing region in the forecast period. The regions covered in blowout preventer report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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

A blowout preventer is a vital safety device used in oil and gas drilling operations to control and seal a well during unexpected pressure surges. It prevents the uncontrolled release of crude oil, natural gas, and drilling fluids from the wellbore, thereby minimizing the risk of blowouts. Installed at the wellhead, it plays a crucial role in protecting workers, equipment, and the environment during drilling and well maintenance activities.

The main types of blowout preventers include annular blowout preventers, ram blowout preventers, and hybrid blowout preventers. Annular blowout preventers are safety devices that seal the wellbore around various equipment or open holes by compressing a rubber element to prevent blowouts. Control mechanisms for these devices include hydraulic, manual, and electronic controls, with applications spanning offshore drilling, onshore drilling, and well testing. The end uses cover industries such as oil and gas, geothermal, and mining.

The blowout preventer market research report is one of a series of new reports that provides blowout preventer market statistics, including blowout preventer industry global market size, regional shares, competitors with a blowout preventer market share, detailed blowout preventer market segments, market trends and opportunities, and any further data you may need to thrive in the blowout preventer industry. This blowout preventer 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 blowout preventer market consists of sales of high-pressure annular preventers, low-profile annular preventers, and dual-seal annular preventers. 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.

This product will be delivered within 3-5 business days.