Growing production of oil and gas has propelled the growth of the global oilfield equipment market. The report provides an in-depth study of the oilfield equipment market worldwide and assesses the market growth and valuation during the period between 2012 and 2018. The report analyzes the entire value chain of the oilfield equipment market and points out the key factors driving the market. The report also notes down the various opportunities for the market to grow during the forecast horizon. Further, the effect of Porter’s Five Forces on the overall market has been analyzed in the report.
The report segments the global oilfield equipment market on the basis of product type and studies the demand for each of the product segments during the forecast period. The report studies the oilfield equipment market across key geographical regions and estimates the growth of the regional markets. The report describes the vendor landscape of the oilfield equipment market by profiling some of the key players operating in the market.
Overview of the Global Oilfield Equipment Industry
With the ever-increasing need for fuel across developed and developing economies, increase in oil and gas production activities has primarily driven the global oilfield equipment market. The report points out that the shift towards new and small unconventional energy resources such as shale gas is also estimated to boost the market for oilfield equipment. Implementation of advanced techniques such as enhanced oil recovery (EOR) and improved oil recovery (IOR) is further expected to push the market.
However, the report cites the stringent regulatory policies coupled with various geopolitical hurdles as a restraint on the overall market. The growing demand for renewable energy sources will also negatively impact the market. The report mentions that the increasing demand for alternative energy resources will create new opportunities for the global oilfield equipment market.
The report studies the various products in the global oilfield equipment market, such as field production machinery, drilling equipment, pumps and valves, and others. Drilling equipment has dominated the overall market and is expected to continue as the leading segment in the market during the forecast horizon. It is closely followed by the field product machinery segment. The report studies the oilfield equipment market across regions such as Europe, North America, the Middle East and Africa, Asia Pacific, and Latin America. North America has been the largest market for oilfield equipment owing to increased drilling activities in the U.S. and Canada. The report projects Asia Pacific to display the fastest growth in the market during the forecast period.
Companies mentioned in the research report:
The report profiles some of the key players in the global oilfield equipment market, such as Cameron International, Baker Hughes, Aker Solutions, Eni, FMC Technologies, and Weatherford International. The report provides insightful information about the players, such as their business strategies, financial overview, and recent developments. The report also analyzes the strengths and weaknesses of the key players to assess their growth prospects during the forecast period.
Key Product Segments of Oilfield Equipment Market
- Drilling Equipment
- Field Machinery Equipment
- Pumps and Valves
- Other (including Derricks, Well Surveying Machinery etc.)
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