Oil and Gas Accumulator Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis
The oil and gas accumulator will grow at a CAGR of 14.87% during 2020-2024. Prices will increase by 2%-3% during the forecast period and suppliers will have moderate bargaining power in this market. Schlumberger Ltd., Halliburton Co., Eaton Corp. Plc, Baker Hughes Co., Parker-Hannifin Corp., Bosch Rexroth AG, National Oilwell Varco, Tenaris S.A., Freudenberg Sealing Technologies, and Jiangsu Xinde Petroleum Machinery Co. Ltd. are among the prominent suppliers in oil and gas accumulator market.
Who are the Top Suppliers in the Oil and Gas Accumulator Market?
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Leading global suppliers can assist buyers in realizing high-cost savings through their efforts in areas such as vertical integration, managing commodity price volatility, negotiate on pricing and contractual terms, reduction in ad-hoc spend, adoption of automation, cost of quality impact, reducing inventory shrinkage, conference participation, and supplier synergies. Collaborations with global suppliers will also help buyers in cost-saving and ensuring high-quality procurement in the dynamic market.
This report offers key advisory and intelligence to help buyers identify and shortlist the most suitable suppliers for their oil and gas accumulator requirements. Some of the leading oil and gas accumulator suppliers profiled extensively in this report include:
- Schlumberger Ltd.
- Halliburton Co.
- Eaton Corp. Plc
- Baker Hughes Co.
- Parker-Hannifin Corp.
- Bosch Rexroth AG
- National Oilwell Varco
- Tenaris S.A.
- Freudenberg Sealing Technologies
- Jiangsu Xinde Petroleum Machinery Co. Ltd.
Supplier Selection and Evaluation
Profile and service capabilities of the service provider, industry specialization of the service providers, reputation of service providers, and assessment of value-added services are some of the most critical parameters that buyers use to shortlist the suppliers in oil and gas accumulator.
This report evaluates suppliers based on suppliers ability to comply with industry standards, suppliers research and development spend, customization of the product, and quality management system. In addition, suppliers are also shortlisted based on business needs, technical specifications, operational requirements, security compliance, regulatory mandates, legal requirements, quality control, change management procedures, pricing models, penalty clauses, SLA nuances, acceptance criteria, and evaluation criteria.
What are the Major Pricing Trends in Oil and Gas Accumulator Procurement?
The pressure from substitutes and a moderate level of threat from new entrants have resulted in the moderate bargaining power of suppliers. This makes it extremely important to get the pricing and pricing model right. Buyers should align their preferred pricing models for oil and gas accumulator with the wider industry and identify the cost-saving potential.
Competition-based pricing, volume-based pricing, and fixed cost pricing are the most widely adopted pricing models in the oil and gas accumulator. Each pricing model offers optimum benefits and fitment in specific situations. Buyers should identify the model that suits their operations in the best manner and link supplier performance to the pricing models.
Price Strategies and Benchmark
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To optimize the value of the purchase it is crucial to keep a track of current and future price trends. Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects a change of 2%-3%.
- Identify favorable opportunities in oil and gas accumulator TCO (total cost of ownership)
- Expected changes in price forecast and factors driving the current and future price changes
- Identify pricing models that offer the most rewarding opportunities
Will there be an Increase in the Spend Growth for Oil and Gas Accumulator Procurement?
The report provides a complete drill-down on global oil and gas accumulator spend outlook at a global as well as regional level. Current spend scenario, growth outlook, incremental spend, and other key information are available individually for North America, South America, Europe, Middle East and Africa, and APAC.
Spend Growth and Demand Segmentation
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The oil and gas accumulator market will register an incremental spend of about $ 1 billion during the forecast period. Only a few regions will drive the majority of this growth. On the supply side, North America, South America, Europe, Middle East and Africa, and APAC will have the maximum influence owing to the supplier base.
The drivers and inhibitors that influence these global and regional outlooks are also elaborated in detail. Our in-depth growth decomposition analysis covers details on:
- Factors driving the growth (or lack of it) in individual geographies
- Regions that hold the most rewarding opportunities for buyers and suppliers
- Is the spend growth cyclical and when will the growth curve peak?
What are the Major Category Management Objectives for Oil and Gas Accumulator Sourcing?
A targeted strategic approach to oil and gas accumulator sourcing will provide several opportunities to buyers. However, in the absence of actionable intelligence on oil and gas accumulator, buyers have resulted in a transaction-based approach towards the category. The buyers have moderate bargaining power in this market and a holistic category management approach will help buyers maximize the value on their oil and gas accumulator procurement.
The report explains key category management objectives that should form the base for sourcing strategy, including:
- Supply assurance
- Cost savings
- Adherence to regulatory nuances
- Top-line growth
- Supply base rationalization
- Demand forecasting and governance
- Minimalization of ad hoc purchases
- Reduction of TCO
- Green initiatives
- Category innovations
- Scalability of inputs
In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report will also help create the necessary support structure to facilitate implementation. This report provides in-depth inputs on streamlining category management practices and provides detailed answers on:
- The strategic sourcing objectives, activities, and enablers for oil and gas accumulator category
- Oil and gas accumulator procurement best practices to promote in my supply chain
Category Pricing Insights
Category Management Enablers
Suppliers under Coverage
US Market Insights
SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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