Press release
Oilfield Equipment Market Worth $141.4 Billion by 2026, Top Key Players: ABB, Delta Corporation, Jereh Oilfield Equipment, Integrated Equipment..
Oilfield Equipment Market
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Rise in redevelopment of mature oil wells, oil price recovery, and increase in exploration and drilling activities for oil around the globe drives the oilfield equipment market growth. In addition, the improved economic competitiveness in the oil exploration and drilling & service industries boosts the utilization of oilfield equipment, which in turn fuels the demand for oilfield equipment. However, the fluctuations in foreign currencies continues its influence over profit margins and increase in prices of raw materials are expected to hinder the oilfield equipment market growth.
The global oilfield equipment market is segmented on the basis of type, application, and region. By type, the market is segmented into drilling equipment, field production machinery, pumps and valves, and others. By type, the drilling equipment segment garnered the largest share in terms of revenue in 2018 and the pumps and valves segment is expected to experience high growth during the forecast period. The growing in oil well exploration projects are expected to provide lucrative opportunities for the oilfield equipment market expansion.
By application, it is divided into on-shore, and off-shore. By region, the oilfield equipment market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2018, by application, the on-shore segment accounted for the largest share in the global oilfield equipment market in terms of revenue. North America has largest share in the global market in terms of revenue in 2018. Developed economies, such as U.S., and others, are expected to support market expansion due to increase in demand for oil and gas.
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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
Europe
Asia-Pacific
LAMEA
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
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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