Oilfield Equipment Market Business Opportunity, Top Key players, and Growth Forecast 2026

The global expansion of the oil and gas industry, particularly in countries like the U.S., China, and India, is driving the demand for oilfield equipment.

Manufacturers of oilfield equipment are adopting strategies such as business expansion and undertaking new projects to enhance their market shares. For example, Integrated Equipment, Inc., a leading manufacturer, secured $9 million from Veritas Financial Partners in February 2019 to fuel its future growth initiatives.

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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.

Moreover, in terms of application, the onshore segment dominated the market in 2018 due to the revitalization of aging oil wells. Additionally, the pumps and valves segment is projected to witness substantial growth in the forecast period based on its type.

Regionally, North America and Asia-Pacific jointly accounted for approximately 67.4% of the global oilfield equipment market shares in 2018.

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Top Players:
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.

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