The global oilfield equipment market size was valued at $111,400 million in 2018, and is projected to reach $141,498 million by 2026, growing at a CAGR of 3.1% from 2019 to 2026. The oilfield equipment consist of a complete line of components and equipment utilized for drilling and production of oil and gas. The components of oilfield equipment include cables, drill bits, derrick, pipe, and others that are required to extract oil and gas from the Earth’s surface. In addition, it includes heat exchangers, air coolers, tank vessels, fuel-gas conditioning, amine plants, hydrogen sulfide removal, and others. It is manufactured and designed to meet the application-specific requirements and service type.
Factors such as rise in redevelopment of mature oil wells, oil price recovery, and increase in exploration and drilling activities for oil around the globe drives the market growth. However, increase in prices of raw materials are expected to hamper market growth. Furthermore, technological developments in the oilfield equipment is expected to offer lucrative growth opportunities for the market player during the forecast period.
The global oilfield equipment market is segmented on the basis of type, application, and region. By type, the market is categorized into drilling equipment, field production machinery, pumps and valves, and others. By application, it is bifurcated into on-shore, and off-shore. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
COMPETITION ANALYSIS
The major market participants profiled in this report include Uztel S.A, ABB, Delta Corporation, Jereh Oilfield Equipment, Integrated Equipment, EthosEnergy Group Limited, Sunnda Corporation, Baker Hughes, MSP/Drilex，Inc., and Weir Group.
The major players operating in the global oilfield equipment market have adopted key strategies such as partnership and business expansion, to strengthen their market outreach and sustain the stiff competition in the oilfield equipment market.
KEY BENEFITS FOR STAKEHOLDERS
GLOBAL OILFIELD EQUIPMENT MARKET SEGMENTS
By Type
By Application
By Region
KEY PLAYERS
Factors such as rise in redevelopment of mature oil wells, oil price recovery, and increase in exploration and drilling activities for oil around the globe drives the market growth. However, increase in prices of raw materials are expected to hamper market growth. Furthermore, technological developments in the oilfield equipment is expected to offer lucrative growth opportunities for the market player during the forecast period.
The global oilfield equipment market is segmented on the basis of type, application, and region. By type, the market is categorized into drilling equipment, field production machinery, pumps and valves, and others. By application, it is bifurcated into on-shore, and off-shore. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
COMPETITION ANALYSIS
The major market participants profiled in this report include Uztel S.A, ABB, Delta Corporation, Jereh Oilfield Equipment, Integrated Equipment, EthosEnergy Group Limited, Sunnda Corporation, Baker Hughes, MSP/Drilex，Inc., and Weir Group.
The major players operating in the global oilfield equipment market have adopted key strategies such as partnership and business expansion, to strengthen their market outreach and sustain the stiff competition in the oilfield equipment market.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2018 and 2026.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global oilfield equipment market forecast analysis from 2019 to 2026 is included in the report.
- The key market players within oilfield equipment market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the oilfield equipment industry.
GLOBAL OILFIELD EQUIPMENT MARKET SEGMENTS
By Type
- Drilling equipment
- Field Production Machinery
- Pumps and valves
- Others
By Application
- On-shore
- Off-shore
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Thailand
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- ABB
- Baker Hughes
- Delta Corporation
- EthosEnergy Group Limited
- Integrated Equipment
- Jereh Oilfield Equipment
- MSP/Drilex, Inc.
- Sunnda Corporation
- Uztel S.A
- Weir Group
Frequently Asked Questions about the Global Oilfield Equipment Market
What is the estimated value of the Global Oilfield Equipment Market?
What is the growth rate of the Global Oilfield Equipment Market?
What is the forecasted size of the Global Oilfield Equipment Market?
Who are the key companies in the Global Oilfield Equipment Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | February 2020 |
| Forecast Period | 2018 - 2026 |
| Estimated Market Value ( USD | $ 111400 million |
| Forecasted Market Value ( USD | $ 141498 million |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: OILFIELD EQUIPMENT MARKET , BY TYPE
CHAPTER 5: OILFIELD EQUIPMENT MARKET , BY APPLICATION
CHAPTER 6: OILFIELD EQUIPMENT MARKET , BY REGION
CHAPTER 7: COMPANY PROFILES
Executive Summary
According to the report titled 'Oilfield Equipment Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global oilfield equipment market size was valued at $111.4 billion in 2018, and is projected to reach $141.4 billion by 2026, growing at a CAGR of 3.1% from 2019 to 2026. By type, the drilling equipment segment accounted for the largest share in the oilfield equipment market in 2018. In addition, expansion of the oil and gas industry throughout the globe especially in nations such as the U.S., China, and India, fuels the demand for oilfield equipment.The manufacturers of oilfield equipment are focusing on business expansion and new projects as a strategy to increase their oilfield equipment market shares. For instance, in February 2019, Integrated Equipment, Inc., a manufacturer of oilfield equipment received $9 million from Veritas Financial Partners for future growth. In addition, by application, the on-shore segment garnered significant market share in 2018, owing to the redevelopment of mature oil wells. In addition, based on type, the pumps and valves segment is expected to exhibit significant growth during the forecast period. In terms of region, North America, and Asia-Pacific collectively contributed around 67.4% of shares in the global oilfield equipment market in 2018.
The key players profiled in the global oilfield equipment market report include Uztel S.A, ABB, Delta Corporation, Jereh Oilfield Equipment, Integrated Equipment, EthosEnergy Group Limited, Sunnda Corporation, Baker Hughes , MSP/Drilex, Inc., and Weir Group.
Key Findings of the Study:
The report provides an extensive analysis of the current and emerging oilfield equipment market trends and dynamics.
Depending on type, the drilling equipment segment dominated the oilfield equipment market, in terms of revenue in 2018 and pumps and valves is projected to grow at a CAGR 2.5% during the forecast period.
By application, the on-shore segment led the oilfield equipment market in 2018.
North America is projected to register the highest growth rate in the coming years.
The key market players within the oilfield equipment market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the oilfield equipment industry.
In-depth oilfield equipment market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
The global oilfield equipment market forecast analysis from 2018 to 2026 is included in the report
Companies Mentioned
- include Uztel S.A
- ABB
- Delta Corporation
- Jereh Oilfield Equipment
- Integrated Equipment
- EthosEnergy Group Limited
- Sunnda Corporation
- Baker Hughes
- MSP/Drilex，Inc.
- Weir Group
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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