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Christmas Tree Valves Market to Register High Revenue Growth at CAGR 3.7% During 2019 - 2027

Added: (Mon May 27 2019)

Pressbox (Press Release) - Christmas Tree Valves are attached in the Christmas Tree that is installed over the well head. The Christmas Tree has three major components, namely valves, spools and fittings. Christmas Tree Valves are adopted in both onshore and offshore oil and gas production operations and may differ in terms of cost and material. Automatic valves are used in offshore applications and in onshore operations, both manual and automatic valves are deployed. Offshore Christmas Trees generally have larger bores and higher pressure ratings than surface trees (onshore Christmas tree) to accommodate the high flow rate and pressure.

Christmas Trees are installed over well heads and Christmas Tree Valves are installed in both onshore and offshore applications. Manufacturers of Christmas Tree Valves are mostly manufacturers of Christmas Trees, which perform a crucial function in the production flow of oil and gas. More suppliers exist for the supply of Christmas Tree Valves for onshore applications whereas fewer manufacturers exist for the supply of Christmas Tree Valves for horizontal or vertical subsea Christmas Trees. The competition is prevalent among multi-national players.

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Christmas Tree Valves Market: Scenario

Traditionally, Christmas Tree Valves have been used in newly drilled oil and gas wells where there is sufficient pressure for the natural flow of oil and gas. Lack of natural flow compels oil and gas operators to opt for artificial lift systems. This has restricted the adoption of Christmas Tree Valves to newly drilled oil and gas wells. The Christmas Tree Valves market has been witnessing a healthy growth rate in 2018, with respect to the demand and price of crude oil. Innovation of automation solutions and remote monitoring have been driving the installation of automatic Christmas Tree Valves, which is expected to have an extended effect of growth during the forecast period.

Manufacturers of Christmas Tree Valves have been facing tough competition in capturing new orders post the growth of crude oil prices in the latter half of 2017. The complete automation prevalent in the offshore oil and gas industry has increased the cost of Christmas Tree Valves for oil and gas operators. Direct and online sales contributes largely to the sales of Christmas Tree Valves and the market is expected to remain steady over the next 4 to 5 years

Christmas Tree Valves Market: Inclusions

Christmas Tree Valves are of manual and automatic types. The scope of this research study is mainly limited to the new sales of Christmas Tree and Christmas Tree Valves. The cost of Christmas Tree Valves contributes nearly 60-70% of the cost of Christmas Tree for onshore applications. As mentioned above, this report only covers the sales of new Christmas Tree Valves and the rental business and sales of used Christmas Trees have not been considered. The global Christmas Tree Valves market report also does not include the custom coloring of Christmas Tree Valves.

The global Christmas Tree Valves market is estimated to be valued at US$ 2,560.5 Mn by 2018 end and reach US$ 3,556.6 Mn by the end of 2027, expanding at a CAGR of 3.7% over the forecast period. The global Christmas Tree Valves market is anticipated to represent an incremental opportunity of US$ 996.2 Mn between 2018 and 2027 and thus, is expected to be a low volume high value moderate growth market.

Drivers and Trends

The global Christmas Tree Valves market is expected to witness a steady growth rate in the coming years. The rise in crude oil prices post the crude oil crisis has generated new orders regarding the installation Christmas Tree Valves as there are new investments related to oil and gas drilling projects. Manufacturers of Christmas Tree Valves have been gaining traction since the latter half of 2017, and the scenario is expected to remain the same over the next five years. The replacement of Christmas Tree Valves has been witnessing a slow growth trend as wells are reaching a maturity stage, which is compelling oil and gas operators to choose artificial lift systems in matured oil and gas wells.

Investment in new onshore oil and gas wells has been driving the sales of new Christmas Tree Valves. The offshore exploration and production of oil and gas is slowly gaining momentum and in 2019, it is expected that new offshore drilling projects will drive the sales of subsea Christmas Tree Valves. Rising oil and gas onshore projects and investments in China, South East Asia and MEA are supporting the growth of the Christmas Tree Valves market in these regions. The Christmas Tree Valves market is also fueled by the growing number of shale gas projects and related investments in the U.S., Canada, Russia, Argentina, China, and Thailand.

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Market Participants

Some of the prominent players reported in this study of the global Christmas Tree Valves market include Schlumberger Limited, TechnipFMC Plc, Aker Solutions, Dril-Quip, Inc., General Electric (Baker Hughes), Worldwide Oilfield Machine, Stream-Flo Industries Ltd, National Oilwell Varco, KINGSA INDUSTRIES and The Weir Group PLC, among others. These players are key participants in the global Christmas Tree Valves market and most of them are international players who offer Christmas Tree Valves. In addition to this, there are manufacturers who offer Christmas Tree Valves and export them to Asia and MEA regions. In recent times, leading players have been collaborating with sales and distributor companies and initiating new manufacturing units in developing countries such as India and Indonesia to cover the South East Asia market and enhance their revenue, which is fuelling the growth of the Christmas Tree Valves market. China-based players offer low-cost Christmas Tree Valves, but recent measures by the U.S. over trade tariff are posing a concern for the raw material suppliers from China. This acts as a restraining factor for some of the manufacturers of Christmas Tree Valves.

Submitted by:Vikram Salunkhe
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