Blowout Preventer Market Size:
Blowout Preventer Market size is estimated to reach over USD 9.07 Billion by 2032 from a value of USD 7.00 Billion in 2024 and is projected to grow by USD 7.11 Billion in 2025, growing at a CAGR of 3.4% from 2025 to 2032
Blowout Preventer Market Scope & Overview:
Blowout preventer is a crucial safety device mounted on top of the well specifically during drilling operations to prevent uncontrolled releases of crude oil or natural gas. Additionally, the key advantages including increased safety, reduced environmental damage, enhanced efficiency, and others are driving the blowout preventer market growth. Further, the rising adoption in oil and gas, mining and other industries is fueling the blowout preventer market demand. Furthermore, the increasing focus towards improving safety to prevent uncontrolled releases of oil or gas is propelling the market adoption.
How is AI Impacting the Blowout Preventer Market?
AI is significantly impacting the blowout preventer (BOP) market by enhancing operational efficiency, safety, and reliability. Additionally, AI-powered analytics enable predictive maintenance, real-time monitoring, and AI-driven diagnostics, helping to prevent potential failures before they occur. This leads to reduced downtime, optimized drilling operations, and a longer lifespan for BOP equipment.
Blowout Preventer Market Dynamics - (DRO) :
Key Drivers:
Growth in Oil and Gas Exploration Drives Demand for Blowout Preventer
The rapidly increasing offshore and onshore drilling activities and stringent safety regulations are driving the blowout preventer market demand. Additionally, the risks involved in oil drilling are driving the market adoption. Further, the device playing a crucial role in preventing environmental disasters as well as ensuring the safety of drilling operations is boosting the blowout preventer market growth.
- For instance, in March 2025, According to EIA, the crude oil and natural gas drilling activity in USA increased from 478 in 2021 to 599 onshore and offshore sites in 2024 which in turn is driving the blowout preventer industry.
Therefore, the rapidly increasing offshore and onshore drilling activities are driving the adoption of device, in turn proliferating the growth of the market.
Key Restraints:
High Equipment and Investment Cost is Restraining the Market Growth
The device requires regular maintenance and potential repairs periodically which incurs huge cost in turn hindering the blowout preventer market expansion. Additionally, the device comes with significant initial investment which in turn hinders the adoption by industries. Further, the oil and gas companies are focusing on cost optimization which in turn is hindering the blowout preventer market expansion. Therefore, the oil and gas companies are focusing on cost optimization is restraining the market progress.
Future Opportunities :
Focus on Environmental Safety and Sustainability is Expected to Promote Potential Opportunities for Market Growth
The increasing focus towards preventing uncontrolled releases of oil and gas, which lead to ecological disasters and harm human health is driving the blowout preventer market opportunities. Additionally, the device helps protect people and the environment during high-pressure drilling in turn propelling the market adoption. Further, the device reduces the risk of environmental accidents and promotes responsible oil and gas exploration.
- For instance, in February 2022, American Petroleum Institute published document focusing on improving the safety of onshore drilling and production operations. Additionally, the document focuses on commitment to evolving technologies that contribute to safety and sustainability.
Hence, the increasing focus towards environmental safety and sustainability is anticipated to increase the utilization in turn promoting prospect for blowout preventer market opportunities during the forecast period.
Blowout Preventer Market Segmental Analysis :
By Type:
Based on the type, the market is segmented into annular blowout preventers, ram blowout preventers, and hybrid blowout preventers.
Trends in the Type:
- The trend towards minimizing rig space which maximizes safety is driving the adoption of hybrid blowout preventers.
- The increasing number of high volume of onshore and offshore operations is boosting the need for annular blowout preventers which in turn is fueling the blowout preventer market trend.
Ram Blowout Preventers accounted for the largest revenue share in the year 2024.
- The ram blowout preventers help in preventing blowouts, fires, explosions, and environmental damage.
- Additionally, the key benefits of adopting ram blowout preventors include enhanced performance, improved safety, and multiple size options among others.
- Further, the need for highly reliable sealing solution is driving the adoption of ram blowout preventers segment.
- Thus, as per the market analysis, the rising demand for reliable sealing solution is driving the market progress.
Annular Blowout Preventers is anticipated to register the fastest CAGR during the forecast period.
- The increased offshore and onshore drilling activities due to growing energy demand is driving the adoption of annular blowout preventers.
- Further, the annular BOP plays a key role in ensuring the safety and efficiency of modern oil and gas operations.
- For instance, in December 2023, MEYER acquired Fabritech MS which specialize in blowout preventer manufacturing with licenses such as 16A, 6A, ISO 9001 and API Q1. The API 16A covers adapters, annular BOP, and others marking creation of go-to experts for BOP solutions.
- Therefore, as per the market analysis, the ability to ensure safety and efficiency are anticipated to boost the adoption of annular blowout preventers during the forecast period.
By Control Mechanism:
Based on the control mechanism, the market is segmented into hydraulic control, manual control, and electronic control.
Trends in the Control Mechanism:
- The growing need for reliable safety equipment, particularly in offshore drilling, is driving the adoption of hydraulic control mechanisms.
- The rising adoption of digital twin technology in simulation performance and design of electronic control mechanism.
Hydraulic Control accounted for the largest revenue share in the year 2024.
- The primary function of hydraulic control mechanism is to help to maintain well control during drilling and workover operations.
- Further, the fast response times, high-pressure capabilities, and ease of operation are driving the adoption of hydraulic control mechanism.
- Furthermore, the hydraulic control mechanism is a key component in the wireline pressure control equipment used in drilling and production operations.
- Thus, as per the market analysis, fast response times, high-pressure capabilities, and ease of operation are driving the adoption of hydraulic control mechanism.
Electronic Control is anticipated to register the fastest CAGR during the forecast period.
- The electronic control provides real time data about the performance of devices as well as identify potential issues and optimize operations.
- Further, the increasing adoption of electronic control devices due to improved reliability, efficiency, and automation drives the blowout preventer market size.
- Therefore, as per the market analysis, improved reliability, efficiency, and automation in electric control segment is anticipated to boost the market during the forecast period.
By Application:
Based on the application, the market is segmented into offshore drilling, onshore drilling, and well testing.
Trends in the Application:
- The trend towards advancement in drilling devices and automation is driving the market adoption in offshore and onshore drilling applications.
- The trend towards increasing deep water exploration is driving the market adoption in onshore drilling applications.
Onshore Drilling accounted for the largest revenue share in the year 2024 and is anticipated to register the fastest CAGR during the forecast period.
- The device plays a key role in onshore drilling operations by safely extracting oil and gas as well as preventing uncontrolled releases of well fluids.
- Further, the increasing number of onshore drilling sites is driving the adoption of devices which in turn fuels the blowout preventer market size.
- For instance, according to EIA, the onshore crude oil and natural gas drilling activity in USA reached 580 sites in 2024 which in turn is paving the way for market adoption.
- Thus, according to the blowout preventer market analysis, increasing number of onshore drilling sites is driving the market development.
By End-User:
Based on the end user, the market is segmented into oil and gas, geothermal, and mining.
Trends in the End User:
- The rising adoption of advanced safety measures in mining is driving the blowout preventer market trend.
- The trend towards innovation and improvement in design and functionality of the device is driving the adoption in oil and gas sector.
Oil and Gas accounted for the largest revenue share of 64.85% in the year 2024.
- The increasing oil and gas exploration activities are driving the market adoption, which in turn is boosting the blowout preventer market share.
- Further, the increasing government focus towards improving the safety is driving the adoption of devices in oil and gas industries which in turn is fueling the blowout preventer market share.
- For instance, in May 2023, Bureau of Safety and Environmental Enforcement announced the complete evaluation of two drills in Gulf of Mexico. The evaluation aims to check the oil and gas industry’s preparedness for a subsea blowout.
- Thus, as per the market analysis, increasing government focus towards improving the safety is driving the market adoption in oil and gas sector.
Mining is anticipated to register the fastest CAGR during the forecast period.
- The technological innovations are enhancing the reliability and safety of the device which in turn is driving the device adoption in mining sector.
- Further, the rising adoption of the device in renewable energy projects and deep-sea mining drives the blowout preventer market.
- Therefore, according to the blowout preventer market analysis, the rising adoption in renewable energy projects and deep-sea mining are anticipated to boost the growth of the market during the forecast period.
Regional Analysis:
The regions covered are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Asia Pacific region was valued at USD 1.78 Billion in 2024. Moreover, it is projected to grow by USD 1.81 Billion in 2025 and reach over USD 2.38 Billion by 2032. Out of this, China accounted for the maximum revenue share of 31.93%. The market is mainly driven by its deployment in mining and other industries. Furthermore, factors including government initiative and investment in oil and gas exploration are projected to drive the market progress in Asia Pacific region during the forecast period.
- For instance, in August 2024, MEIL deployed two HP capacity land drilling rigs at ONGC in Andhra Pradesh. Additionally, the rig is equipped with blowout preventing device which operate under high pressure and temperatures.
North America is estimated to reach over USD 3.16 Billion by 2032 from a value of USD 2.41 Billion in 2024 and is projected to grow by USD 2.45 Billion in 2025. The North American region's growing focus towards protecting workers, equipment, and the environment offer lucrative growth prospects for the market. Additionally, the changing government rules and regulations for safety are driving the market evolution.
- For instance, in June 2024, INTLEF launched QL-type blowout preventer to enable quick and effortless bonnet opening or closing for ram seal or assembly replacement. Additionally, the preventor is utilized in applications such as large-bore and others.
The regional evaluation depicts that the rising oil and gas production is driving the market in Europe. Additionally, the key factor driving the market is increased oil and gas exploration and production activities is propelling the market adoption in the Middle East and African region. Further, the increasing focus towards safety in offshore drilling and well intervention is paving the way for the progress of market in Latin America region.
Top Key Players and Market Share Insights:
The global blowout preventer market is highly competitive with major players providing devices to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in the blowout preventer industry. Key players in the blowout preventer market include-
- Aker Solutions (Europe)
- Baker Hughes (UK)
- Cameron International (USA)
- DrilQuip (USA)
- FMC Technologies (USA)
- GE Oil and Gas (USA)
- Halliburton (USA)
- National Oilwell Varco (USA)
- Parker Hannifin (USA)
- Parker Tube Fitting (USA)
Blowout Preventer Market Ecosystem:
Recent Industry Developments :
Product Launch:
- In March 2025, INTLEF launched quick-connect flange which include wellhead flanges, BOP and pressure test flanges. The flange aims to save time and cost, enhance safety, and others.
Blowout Preventer Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2019-2032 |
| Market Size in 2032 | USD 9.07 Billion |
| CAGR (2025-2032) | 3.4% |
| By Type |
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| By Control Mechanism |
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| By Application |
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| By End-User |
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| By Region |
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| Key Players |
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| North America | U.S. Canada Mexico |
| Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
| APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
| Middle East and Africa | GCC Turkey South Africa Rest of MEA |
| LATAM | Brazil Argentina Chile Rest of LATAM |
| Report Coverage |
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Key Questions Answered in the Report
How big is the blowout preventer market? +
The Blowout Preventer Market size is estimated to reach over USD 9.07 billion by 2032 from a value of USD 7.00 billion in 2024 and is projected to grow by USD 7.11 billion in 2025, growing at a CAGR of 3.4% from 2025 to 2032.
Which segmentation details are covered in the blowout preventer report? +
The blowout preventer report includes specific segmentation details for type, control mechanism, application, end user, and regions.
Which is the fastest segment anticipated to impact the market growth? +
In the blowout preventer market, the electronic control mechanism is the fastest-growing segment during the forecast period due to improved reliability, efficiency, and automation.
Who are the major players in the blowout preventer market? +
The key participants in the blowout preventer market are Aker Solutions (Europe), Baker Hughes (UK), Cameron International (USA), DrilQuip (USA), FMC Technologies (USA), GE Oil and Gas (USA), Halliburton (USA), National Oilwell Varco (USA), Parker Hannifin (USA), Parker Tube Fitting (USA) and others.
What are the key trends in the blowout preventer market? +
The blowout preventer market is being shaped by several key trends including rising adoption of digital twin technology in simulation performance and design as well as increasing number of high volume of onshore and offshore operations and others.
