U.S. Midstream Oil & Gas Equipment Market Business Segmentation by Revenue, Market Landscape, Present Scenario and Growth Prospects 2026 With Top Key Players Transocean, Zenith Oilfield Technology, National Oilwell Varco Incorporated, Schlumberger, Weathe
The industry for equipment manufacturing and rental services sector dramatically fell owing to sudden decrease in well count and completions in 2015 & 2016. But it is expected to return to achieve healthy growth by 2019, as the upstream sector is benefiting from the slow recovery of the oil prices and also additional export opportunities that was not available for both liquefied natural gas and crude oil. The U.S. is one of the leading five global exporters. The increasing demand for transportation fuels along with the rising complexity for clean fuels, there are legal and regulatory constraints that have actually threatened to higher global trade in many of the U.S. strategic export markets influencing the U.S. Midstream Oil & Gas Equipment market growth. The country’s exporters has been facing requirements of local contents, trade restrictions, labor requirements and rising cost along with decreasing competitiveness of U.S. exports due to growing Chinese and some European markets.
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Top Key Player: -
Zenith Oilfield Technology
National Oilwell Varco Incorporated
The country’s abundance of shale reserves along with its increasing shale exploration and production has ultimately urged the need for high level of investment to accommodate the changing regional requirements of gas transportation; by 2019 the demand for ongoing construction will begin to ebb. Even though the projection for LNG export facilities has been clouded by the current uncertainty in crude prices market fundamentals will drive the eventual construction of many facilities over the forecast period. Many of these projects are likely to be under construction till 2020. The facilities will be the primary application sites and will drive the U.S. Midstream Oil & Gas Equipment market for a wide range of equipments including valves, pumps and compressors.
The industry participants in the country face significant competition from the Korean, German and the Chinese players. By competition, the U.S. industry participants have been particularly competitive in manufacturing of gas treating and processing equipments, compressors, automatic valves, storage tanks etc. These specific trends in manufacturing of these equipments are likely to continue with the country’s exports weighted more towards specialized high tech equipments. Hence, with such increasing production and processing of shale reserves and the country’s increasing focus on midstream industry demand for oil and gas equipments are projected to increase over the forecast period.
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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the U.S. Midstream Oil & Gas Equipment Market, 2017-2026. This report comprises a detailed geographic distribution of the U.S. Midstream Oil & Gas Equipment market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Southwest region has the highest number of refineries in the country with many export facilities in the cost. The region has the country’s largest oil & gas reserves which create additional opportunities for processing in the field vicinities. The states of Texas and Oklahoma host 35 refineries with Texas accounting for 30 of them. Another two refineries are planned in Texas and are to be operational by 2019. These activities are expected to boost demand over the forecast period in the region.
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