PUBLISHER: The Business Research Company | PRODUCT CODE: 1653163
PUBLISHER: The Business Research Company | PRODUCT CODE: 1653163
An oil accumulator is an energy storage device designed to retain fluid using an external source like a spring, gas, or piston, serving various purposes such as noise reduction and pulsation dampening.
The primary oil accumulator types comprise low-density polyethylene, linear low-density polyethylene, high-density polyethylene, ethylene vinyl acetate, and others. Low-density polyethylene is characterized by its soft, flexible, lightweight plastic composition, renowned for attributes like low-temperature flexibility, toughness, and corrosion resistance. This highly versatile plastic finds frequent use in applications such as flexible film and bags. Pressure ratings vary, ranging from up to 6,000 psi to above 6,000 psi, with diverse applications spanning blow-out preventers, wellhead control, offshore rigs, and mud pumps.
The oil accumulator market research report is one of a series of new reports from The Business Research Company that provides oil accumulator market statistics, including oil accumulator industry global market size, regional shares, competitors with an oil accumulator market share, detailed oil accumulator market segments, market trends and opportunities, and any further data you may need to thrive in the oil accumulator industry. This oil accumulator 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 oil accumulator market size has grown strongly in recent years. It will grow from $51.26 billion in 2024 to $55.09 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to growing oil exploration, industrial expansion, safety and efficiency concerns, global economic growth.
The oil accumulator market size is expected to see strong growth in the next few years. It will grow to $75.25 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to renewable energy transition, emerging markets, resilience in oil prices, regulatory compliance. Major trends in the forecast period include digitalization and IoT integration, smart technologies integration, green energy initiatives, customization and modular design, focus on downtime reduction, collaboration and partnerships, market expansion in Asia-pacific.
The growth of the oil accumulator market is anticipated to be driven by the rising exploration and production activities. Exploration activities in the oil and gas industry encompass geological surveys and land rights acquisition, while production activities involve onshore and offshore drilling. Oil accumulators are crucial for preventing fluid loss and managing erratic pressures and uncontrolled flow in a well during oil and gas exploration. For instance, in the 2023-24 period, according to Indian Infrastructure magazine, India's total consumption of crude oil and petroleum products rose by 4.6% to reach 233.3 million tonnes (mt), while domestic crude oil production experienced a slight increase of 0.6%. Domestic production remained stable at 29.4 mt in 2023-24, compared to 29.2 mt in 2022-23. Thus, the increased exploration and production activities are expected to propel the oil accumulator market throughout the forecast period.
The growing demand for the oil and gas industry is another factor expected to fuel the expansion of the oil accumulator market. Globally, the oil and gas sector involves the exploration, extraction, refining, and distribution of hydrocarbon-based resources, primarily crude oil and natural gas. As per the EIA, advancements in oil and gas industry technologies will lead to increased per-well recoveries and shale gas output. The proportion of natural gas is projected to rise from 34% to 39% by 2050 due to intensified drilling activities. Consequently, the escalating demand within the oil and gas industry is anticipated to propel the oil accumulator market during the forecast period.
Major companies in the oil accumulator market are concentrating on technological advancements, such as the SHPU range of hydraulic power units, to boost operational efficiency, enhance reliability, and deliver more compact and effective solutions for various hydraulic applications across industries like construction, manufacturing, and energy. The SHPU range refers to a specific line of hydraulic power units engineered to provide efficient and dependable hydraulic power for a variety of applications. For instance, in January 2022, Stromag, a Germany-based company specializing in power transmission solutions-including couplings, brakes, and hydraulic components-serves multiple industries such as manufacturing, energy, and marine applications. The SHPU (Screw Hydraulic Power Unit) is a compact and efficient hydraulic power unit designed for diverse industrial uses, featuring integrated components for easy installation, advanced control systems for precise operation, and durability to endure demanding conditions.
Major companies in the oil accumulator market are developing innovative technologies, such as Oxlube L7-NPG ester base oil for electric vehicle (EV) fluids, to enhance their profitability in the sector. Oxlube L7-NPG is a specific type of ester-based oil designed for use in EV fluids. For example, in September 2022, OQ Chemicals, a Germany-based chemical company that specializes in producing a broad range of chemicals for various industries, introduced Oxlube L7-NPG ester base oil for EV applications. Ester-based oils are recognized for their exceptional thermal stability, oxidative stability, and lubricity, making them ideal for high-performance uses. Oxlube L7-NPG boasts excellent thermal stability, allowing it to withstand high temperatures without degrading. In electric vehicles, where electric motors and drivetrain components can produce considerable heat, a base oil with high thermal stability is essential for effective lubrication.
In May 2024, Eaton, an Ireland-based company operating globally and offering a diverse range of products and services in electrical systems, hydraulic solutions, and energy management, acquired Exertherm for an undisclosed amount. Eaton's acquisition of Exertherm aims to bolster its position in the hydraulic and thermal management sectors, enhancing its product portfolio with advanced oil accumulator technologies and improving energy efficiency across various industrial applications. Exertherm is a UK-based company that specializes in thermal management solutions, including oil accumulators and related technologies for a variety of industrial applications.
Major companies operating in the oil accumulator market include Hydac GmbH, Parker Hannifin Corporation, Bosch Rexroth AG, Nipon Accumulator Co. Ltd., Technetics Group, Eaton Corporation PLC, Hannon Hydraulics, The Freudenberg Group, Hydroll oy, Baker Hughes Company, Tobul Accumulator Inc., Roth Industries GmbH & Co. KG, Canton Racing Products, Moroso Performance Products, Airmo Inc., Airtrol Components Inc., Bieri Hydraulik AG, Blacoh Industries Inc., C & C Industries Inc., Enerpac, Fawcett Christie Hydraulics Pvt. Ltd.
North America was the largest region in the oil accumulator market in 2024. The regions covered in the oil accumulator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the oil accumulator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The oil accumulator market consists of sales of weight loaded piston type, diaphragm (or bladder) type, spring type and the hydro pneumatic piston type oil accumulator. 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.
Oil Accumulator Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on oil accumulator market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for oil accumulator ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The oil accumulator market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.