Press release
Oilfield Equipment Market Expected To Witness Enhanced Growth Owing To Huge Investment for R&D and Technological Advancement in Oil & Gas Industry Till 2020 | Million Insights
Million Insights - World's Fastest Growing Market Research Database
Exploration and extraction of unconventional reserves are not economical, the processes have to be carried out by these equipment, so this will result in the overall growth of the market. The key players are likely to invest more to improve operations related to crude oil. The improvement can be achieved with developing tools of higher efficiency so as to give better output with safer working environment.
Full Research Report On Oilfield Equipment Market Global Analysis available at:
https://www.millioninsights.com/industry-reports/oilfield-equipment-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=openpr_shree_sep08&utm_content=Content
The Asia Pacific region significantly is the major prospect to improve the operations standard in energy supply with lower import rates. Investment into technology development is driving the market so as to ensure safe and secure ways to derive the oil products both from onshore and offshore operations. Over the period of 2017-2020 the demand for technological shift on the onshore operations can witness the growth CAGR of 4%.
The total market is estimated to increase at 12% y-o-y basis. This fortune is expected due to improvement of oil market behavior over recent times. Exploration & production companies in oil & gas industry are shifting towards development of other unconventional sources to inline their supply with the global market demand.
One of the other ways of using equipment are renting the technology due to increase in the off shore activities. The entry of key players in the equipment rental segment is also a primary reason for the market drive. The geopolitical reasons and the idea of sustainable planet can be one of the restraints for this industry to bloom with the lack of skilled workforce.
Huge investment are being done in this segment to meet the demand of government rules. New technology that is trending, is EOR (Enhanced Oil Recovery) to extract maximum from the reserves. Thermal recovery, gas injection, and chemical injection are the type of EOR technology.The drift in thought of usage of green energy may impact the market growth over the forecast period
Product Insights
Product segment included in this report are pumping equipment’s, valves, drilling equipment, offshore and onshore equipment’s like coiled tube and other automated tools. From exploration to extraction to supply for end use this equipment are used in many operations.
Drilling equipment occupied the market share of 73.65% of the total market volume. This equipment is supposed to be the major equipment used are for exploring the reservoirs. The storage and transportation of crude oil is the major task for the players engage in this industry because of its toxicity in nature also the huge capital investment. Stringent government rules are ensured in order to protect and safeguard and secure the environment by developed countries.
Efficient transportation using source of energy is required for the pipeline mode in order to deliver the products to the end customer safely. In this way the pump and valves comes into picture as they are secondary segment of equipment in the market and are being used for the pipeline transport system. The treatment of crude requires other set of equipment to ensure the delivery of pure product before it is delivered to refineries to extract derivatives or to end users. One of the major segment which is of main concern to the industry is waste management.
Request for Free Sample Copy : https://www.millioninsights.com/industry-reports/oilfield-equipment-market/request-sample
Regional Insights
Countries like U.S. and Canada in North America leads the segment due to energy demand and boom in shale gas development. Countries of APAC also share a significant market share due to increase in capital investment in oil industry by Public companies and also from private companies like Reliance and Adani.
Middle East and Africa due to presence of OPEC can expect a growth over the forecast period. China and India might set themselves up as a major consumer of technology advancement in crude oil operations. Latin America is also expected to grow significantly over the forecast period.
Competitive Insights
The innovation in technology might decide the key players of this market segment over the forecast period. Key market players include Weatherford International, National Oilwell Varco, Halliburton, Schlumberger, Aker Solutions, Cameron International and Baker Hughes.
The segmentation is carried out on the basis of operations they perform like manufacture and sell oilfield tools by FMC Technologies and National Oilwell Vraco, finding & extracting crude Halliburton and Weatherford, rental equipment’s by Rowan and Transocean.
Technological breakthrough like EOR, directional drilling and innovation in the field of rock bed fracturing will result in high growth. In addition to this fluctuating crude demand mainly on higher side added with swollen prices due to increasing exploration & production activities in remote places which in turn is expected to drive market players’ growth over the foreseeable future.
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/chemicals
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Contact Details:
Office No. 302, 3rd Floor, Manikchand Galleria,
Model Colony, Shivaji Nagar, Pune, MH, 411016 India
Phone: 91-20-65300184
Email: sales@millioninsights.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Oilfield Equipment Market Expected To Witness Enhanced Growth Owing To Huge Investment for R&D and Technological Advancement in Oil & Gas Industry Till 2020 | Million Insights here
News-ID: 704472 • Views: …
More Releases from Million Insights
Smart Education and Learning Market 2025 Top Player Profiles - Adobe Systems Inc …
16th October, 2018 - Smart Education and Learning Market is estimated to witness considerable growth over the forecast period owing to increasing number of students opting for distant learning and digital education courses. The market is extensively catering to the requirement of international and government standardization bodies for development and training of workforce in various sectors. The execution of student information systems helps institutions in incorporating student information and enabling…
Luxury Sunglasses Market 2022: Key Trends, Driving factors and Growth Rate Analy …
Global Luxury Sunglasses Market is estimated to display a robust growth in the near future due to rising applications and scope across the globe. Luxury Sunglass is a product that performs the main function of preventing the harmful rays of the sun from entering the eyes. It is said to be available in a wide range of varieties as well as for numerous events. In addition, it is regarded as…
Thermo Cell Market Future Investments, Business Opportunities, New Trends and to …
Thermo Cell Market is expected to display high growth in forthcoming years. The Thermo Cell Industry is one of its kind generating clean energy from waste heat. A thermo cell comprises an enclosure needing two electrodes coming in contact with an electrolyte. Benefits of a thermocell are that there is no charging required for the device and energy conversion is constant as long as one of the electrodes is kept…
Graphite Market Size, Share, Driving Factors, Challenges, Sales and Revenue Fore …
The global graphite market is estimated to grow at a CAGR over the forecast period. Increasing demand of graphite in batteries such as lithium ion and aluminum ion batteries is expected to drive the graphite market growth. Graphite is a form of carbon and is considered to be a key material in green technology and hence is expected to be widely used in photovoltaics, energy storage and electronic products.
View Full…
More Releases for Fastest
Zigmabit Mining Rigs Offering Market’s Fastest ROI
Zigmabit Inc(http://www.zigmabit.com) is quickly making a strong impact in the crypto mining industry by offering the market's fastest return on investment. The company recently hit the headlines by introducing three multi-algorithm mining rigs that assure 100% return on investment within just one month. Designed for the beginners as well seasoned crypto miners, all three products are easy to use as they come pre-configured and the users only require to plug…
MICE Industry, Fastest Growing Sector By 2023
The MICE industry consists of organizers and suppliers that manage and deliver meetings, conferences, exhibitions, and other related events held to achieve a range of professional, business, cultural, or academic objectives. The activities of the MICE industry play a key role in the future growth for businesses, cities, destinations, and other covered spectrums. Organizers of MICE events also provide other creative services that include show displays, directional signage, banners, kiosks/exhibit…
Process Spectroscopy Market - Fastest growing regional market
Growing demand for quality check and accuracy in product manufacturing has led to the increasing demand for process spectroscopy. Further, factors such as increasing usage of process spectroscopy in pharmaceutical, chemical and food and agriculture industries, and convergence of spectroscopy technologies into single instrument are expected to foster innovations in the process spectroscopy market.
Growing consumer preference for better quality products and change in regulations across different industries including oil and…
HARRTS Worlds fastest hair tansplant system
It is the World's only Robotic Hair Transplant System with Artificial Intelligence and Speech Interface. You can literally talk with the Robotic machine. Coming from i-brain Robotics, this Machine continues the legacy of the company's work in Artificial Intelligence and Performance.
This system would couple both the scoring of the grafts and the extraction into 1 single step thus reducing the time of harvesting to less than half. With provision…
FETC Recognized Among Industry’s Fastest-Growing Events
Irvine, CA – 1105 Media Education Group is proud to announce that FETC, its national educational technology conference for schools and districts, has been named among EXPO Magazine’s “Top 25 Fast-Growth Shows of 2011”—the only event serving the education field to be recognized on the list.
EXPO Magazine used a survey focused on shows’ performance metrics to compile their second annual list. Among the statistics considered by the publication included growth…
Still the Fastest Growing CV Database
CV-Library’s hugely successful multi-channel marketing campaign has brought record breaking stats to the online job board, validated by their recent ABCe audit.
During January 2012 ABCe examined web and mobile activity on CV-Library and confirmed that there were 139,540 new CV registrations and 1,892,437 unique users. An impressive 12% rise in monthly CV registrations since their last audit (Oct 2010) highlights how fast CV-Library is growing.
Lee Biggins, Managing Director: “Although…
