Oil Field Equipment Market 2018 Global Industry Analysis by Top Key Players Focusing on Industry Growth Strategies and Upcoming Trends 2023

Market Highlights

The rising prices have boosted the upstream activities in oil industry. This has resulted in a rise in demand for the Oilfield Equipment market. In recent times oil and gas has been witnessing a significant downturn due to the continuous fall in the prices. These changes in the supply and demand dynamics is expected to raise the number of oil wells thus, resulting in boosting the oil field Equipment market. Increasing demand for oil and gas is also expected to fuel the demand in the oilfield Equipment market.

The oilfield service industry is completely dependent on upstream operations thus, in this scenario, it will be profited. Oilfield equipment are elementary equipment used for the development of successfully explored oilfields. These include a wide range of equipment that perform the functions starting from drilling to well completion. The main functions of oilfield equipment include drilling, data acquisition, well intervention, well logging, well completion, pressure maintenance, flow control, and others.

Key Players

GE Oil and Gas
Weatherford International
Schlumberger
Superior Energy Services
Pioneer Energy Services Corp
C&J Energy Services Ltd.
and National Oilwell Varco, Inc.
Halliburton
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Segments:-

Global oilfield equipment market is segmented on the basis of equipment, type and region. Based on equipment the market is further segmented into Drilling Equipment, Field Production Machinery, Pumps, Valves, Others. Amongst these segments, drilling equipment segments holds the largest share due to increased number of drilling projects across the globe. On the basis of type, market is classified as drilling (Drill Pipe, Drill Collars), Pressure & Flow control (BOP, Valves, Manifold). Drill Pipe segment accounts for the largest market share due to large drilling activities in offshore and onshore. Also, shale production, which requires drill pipes as an essential set of equipment, has witnessed growth.

List Of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 MARKET DYNAMICS

FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS

FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS

FIGURE 6 PORTER’S FIVE FORCES ANALYSIS

FIGURE 7 VALUE CHAIN ANALYSIS

FIGURE 8 GLOBAL OILFIELD EQUIPMENT MARKETSHARE, BY EQUIPMENT, 2018 (%)

FIGURE 9 GLOBAL OILFIELD EQUIPMENT MARKET, BY EQUIPMENT, 2015-2023 (USD MILLION)

FIGURE 10 GLOBAL OILFIELD EQUIPMENT MARKETSHARE, BY EQUIPMENT, 2018 (%)

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Market Research Analysis

Global oilfield equipment market is expected to observe phenomenal growth during the forecast period owing to increasing exploration and drilling activities and recovery of oil prices after price shock of 2014. North America region held the largest market share in oilfield equipment market. In North America region exploration activities and rock study activities for shale oil, oil sands, and carbonate rocks are rising. For instance the production from shale oil in 2017 was 4.67 million barrels, which contributed half of the total oil produce from U.S. Asia Pacific and Africa region are likely to lead to the growth of oilfield equipment market. Major growth is attributed to the discoveries in Gulf of Thailand, and South China Sea from Asia Pacific and Mediterranean Sea and Egypt desert from Africa.

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