The global oilfield equipment market size was valued at $111,400 million in 2018, and is projected to reach $141,498 million by 2026, growing at a CAGR of 3.1% from 2019 to 2026. The oilfield equipment consist of a complete line of components and equipment utilized for drilling and production of oil and gas. The components of oilfield equipment include cables, drill bits, derrick, pipe, and others that are required to extract oil and gas from the Earth's surface. In addition, it includes heat exchangers, air coolers, tank vessels, fuel-gas conditioning, amine plants, hydrogen sulfide removal, and others. It is manufactured and designed to meet the application-specific requirements and service type.
Factors such as rise in redevelopment of mature oil wells, oil price recovery, and increase in exploration and drilling activities for oil around the globe drives the market growth. However, increase in prices of raw materials are expected to hamper market growth. Furthermore, technological developments in the oilfield equipment is expected to offer lucrative growth opportunities for the market player during the forecast period.
The global oilfield equipment market is segmented on the basis of type, application, and region. By type, the market is categorized into drilling equipment, field production machinery, pumps and valves, and others. By application, it is bifurcated into on-shore, and off-shore. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
COMPETITION ANALYSIS
The major market participants profiled in this 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.
The major players operating in the global oilfield equipment market have adopted key strategies such as partnership and business expansion, to strengthen their market outreach and sustain the stiff competition in the oilfield equipment market.
KEY BENEFITS FOR STAKEHOLDERS
? The report provides an extensive analysis of the current and emerging market trends and dynamics.
? In-depth market analysis is conducted by constructing market estimations for the key market segments between 2018 and 2026.
? Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
? A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
? The global oilfield equipment market forecast analysis from 2019 to 2026 is included in the report.
? The key market players within 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.
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
o U.S.
o Canada
o Mexico
- Europe
o Germany
o Italy
o UK
o Russia
o Rest of Europe
- Asia-Pacific
o China
o India
o Thailand
o Australia
o Rest of Asia-Pacific
- LAMEA
o Latin America
o Middle East
o Africa
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
