The ram BOP market was valued at USD 22.97 Billion in 2025. The industry is expected to grow at a CAGR of 3.20% during the forecast period of 2026-2035 to attain a valuation of USD 31.47 Billion by 2035.
Base Year
Historical Period
Forecast Period
In 2024, the global oil demand is expected to rise by 1 mbpd, which can also increase the ram BOP market revenue.
As per industry reports, oil refining capacity is expected to increase by 3.3 mbpd by 2030, which can favourably influence the market outlook.
Introduction of ram BOPs with a pressure handling capacity of up to 2000 psi is expected to contribute to market growth.
Compound Annual Growth Rate
3.2%
Value in USD Billion
2026-2035
*this image is indicative*
| Global RAM BOP Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 22.97 |
| Market Size 2035 | USD Billion | 31.47 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 3.20% |
| CAGR 2026-2035 - Market by Region | Asia Pacific | 5.4% |
| CAGR 2026-2035 - Market by Country | India | 6.2% |
| CAGR 2026-2035 - Market by Country | China | 5.3% |
| CAGR 2026-2035 - Market by Type | Pipe Ram BOP | 5.1% |
| CAGR 2026-2035 - Market by Application | Onshore | 5.2% |
| Market Share by Country 2025 | Germany | 4.5% |
In 2023, the global oil demand averaged at over 102 million barrels per day. This is expected to rise by 3.2 mbpd by 2030, driven by rapid economic growth of Asia Pacific and the global expansion of the petrochemicals industry and aviation sector. As per industrial analysis, the oil production capacity is expected to increase to 114 mbpd by 2030, due to the growing oil producing capacity of the United States. Other non-OPEC+ countries, such as Canada, Guyana, Argentina, and Brazil are expected to contribute nearly 2.7 mbpd per day. As companies in non-OPEC+ countries continue to get additional project approvals, an additional capacity of 2.1 mbpd can become operational by 2030. This will create a favourable economic outlook for the global oil and gas industry, which is expected to drive the growth of ram BOP market revenue.
Moreover, automated ram BOPs are critical in hazardous environments since they can be operated remotely from a safe distance. They are integrated with fail-safe mechanisms which ensure continuous well-pressure monitoring in case of a hydraulic/power supply failure. Shear ram BOPs are expected to constitute a major portion of the ram BOP market share since they can cut through the oil drilling pipe to seal the wellbore in critical emergencies. The integration of automated features in them is further expected to bolster their consumer appeal, as it can significantly reduce downtime and reduce the risk of human error in BOP operations.
Increasing demand for pipe blind rams; technological advancements; shift towards automated devices; and strengthening of regulatory requirements are factors favouring the ram BOP market growth.
Ram BOPs having automated systems for detecting pressure anomalies and immediately proceeding with the shut-in process are expected to witness widespread adoption, thereby fuelling the market growth.
The integration of advanced monitoring systems into ram BOPs has improved their ability to track real-time data on well pressure conditions and overall flow.
While pipe rams are used for allowing controlled flow of oil in wells under pressure, blind rams are required to control well pressure during maintenance/closure times. Their increasing demand is expected to favour the ram BOP market expansion.
In many countries, oil and gas companies are required to conduct regular testing of blowout preventers (BOP) to ensure they are functioning correctly. Additionally, these companies must carry out emergency response drills to enhance their crisis management skills in the event of a blowout.
Technological advancements are expected to play a critical role in driving the growth of the market. The increasing use of high-strength alloys, and other advanced materials has enhanced the performance and durability of ram BOPs since they can withstand a high degree of pressure in deepwater drilling operations. With the development of triple and twin ram BOPs, these safety devices have become more compact and easier to install. This has contributed to the ram BOP market expansion. Over the forecast period, manufacturers are expected to increase the use of digital twin technology to produce high-tech ram BOPs, leading to market growth.
The EMR’s report titled “Global Ram BOP Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by Pressure Handling Capacity
Market Breakup by Region
| CAGR 2026-2035 - Market by | Country |
| India | 6.2% |
| China | 5.3% |
| Canada | 5.1% |
| Germany | 4.6% |
| Italy | 3.9% |
| USA | XX% |
| UK | XX% |
| France | XX% |
| Japan | 3.2% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the demand for ram BOPs in the Asia Pacific is expected to grow at a CAGR of 5.4% due to the growth of oil drilling and exploration activities in the region. The market outlook is also being favourably influenced by the growing demand for ram BOPs in India (6.2%) and China (5.3%) respectively.
Improvements in sealing technologies by major players have increased the ram BOP market value by causing a significant reduction in blowout risk.
BOP Products, LLC was founded in 2005 and is headquartered in Texas, United States. It is engaged in selling, renting, and repairing well control equipment for the oil and gas industry.
EFC Group was founded in 2013 and is headquartered in Floria, United States. As per ram BOP market analysis, it is a financial services company which provides risk and wealth management services, apart from wealth building strategies to its clients.
SHENGJI Group was founded in 1964 and is headquartered in Shandong, China. It specialises in the production of conventional oil drilling and recovery equipments, thermal recovery equipments, anti-abrasion products, and other items for the oil and gas industry.
Axon Pressure Products Inc. was founded in 2009 and is headquartered in Texas, United States. After its acquisition by Pelican Energy Partners in late 2018, it became AXON Energy Services. It is mainly engaged in providing pressure control devices, and RAM BOPs, among other equipments for the oil and gas industry.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other players included in the ram BOP market report are Schlumberger NV, Nov Inc., General Electric Company, and Drilltech Manufacturing Co. Ltd., among others.
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The market is projected to grow at a CAGR of 3.20% between 2026 and 2035.
The different regions considered in the ram BOP market report include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The different types of ram BOP in the market are blind ram BOP, shear ram BOP, pipe ram BOP, and variable-bore ram BOP.
The different applications of ram BOP include onshore and offshore.
The different segments considered in the market report are up to 2000 psi, 2,000 to 5,000 psi, 5,000 to 10,000 psi, and above 10,000 psi.
Key players in the market are BOP Products, LLC, EFC Group, Schlumberger NV, General Electric Company, Nov Inc., SHENGJI Group, Axon Pressure Products Inc., and Drilltech Manufacturing Co. Ltd., among others.
In 2025, the market attained a value of nearly USD 22.97 Billion.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach about USD 31.47 Billion by 2035.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
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| Breakup by Application |
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| Breakup by Pressure Handling Capacity |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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