Global
market for oilfield equipment was valued at USD 93.74 billion in 2013 and is
expected to reach USD 117.37 billion in 2019, growing at a CAGR of 3.8% from
2013 to 2019.
The demand for oilfield equipments is expected to be driven primarily by the rising oil extraction and refining activities coupled with increasing regional consumption and its growing demand across the globe. Shift towards unconventional oil fields such as shale gas has been driving the demand for oilfield equipments in both developed economies such as the U.S. and Europe and in emerging markets such as Asia Pacific and Latin America and this trend is expected to drive the demand over the forecast period.
However, regulatory policies and geopolitical issues are some of the major concerns which are expected to affect the oil field equipments market. On account of such issues, the world has been shifting focus towards the use of renewable energy sources which is acting as one of the major factors inhibiting the market growth.
Drilling equipments were the largest market segment, accounting for over 70% of the total oilfield equipment consumption in 2013. These equipments are most widely used in piercing and boring into the earth to access energy resources below the surface. Also, in terms of demand growth, drilling equipments, which include complete drilling rigs, rig components such as drill bits, and oil country tubular goods (OCTG) are expected to be the fastest growing segment in the overall market with an estimated CAGR of 4.1%. The global demand for pumps and valves is expected to reach USD 6.93 billion by 2019.
North America emerged as the leading consumer of oilfield equipments and accounted for over 40% of the global demand in 2013. U.S. market for oilfield equipment was valued at USD 29.05 billion in 2013 and is expected to reach USD 36.66 billion in 2019, growing at a CAGR of 3.9% from 2013 to 2019. Asia Pacific is expected to be the fastest growing market for oilfield equipments, growing at a CAGR of 4.3% from 2013 to 2019. The growth of exploration and production in China, implementation of licensing bidding in India and introduction of new policies in Indonesia has been major factors driving market growth in the region.
Some of the leading companies operating in the global market include National Oilwell Varco, Schlumberger, Weatherford International, Halliburton, Baker Hughes, Cameron International, Aker Solutions, FMC technologies and Eni.
The growing energy demand from both developing and developed economies is the major factor driving the global market for oilfield equipment. The shift towards unconventional energy resources such as shale gas is also expected to drive the market. This report estimates and forecasts the global oilfield equipment market demand in terms of revenues (USD million) from 2010 to 2019. The report also analyzes various factors which are driving and restraining the global demand along with highlighting the impact of these factors over the forecast period.
Browse the full report with TOC at http://www.transparencymarketresearch.com/oilfield-equipment.html
The study provides a comprehensive view of the oilfield equipment industry by segmenting and analyzing key oilfield equipments, namely drilling equipments, field production machinery, pumps and valves, and other machinery and equipments. Each of these segments has been analyzed and market data has been provided for the period 2010 to 2019, in terms of revenues (USD million) they generated. The demand for each of the oilfield equipment type mentioned above is examined on the basis of product type and geography (North America, Europe, Asia Pacific, Middle East, Africa and Latin America). The report also examines which of the above mentioned oilfield equipments’ type holds the potential for growth by using the market attractiveness analysis tool.
About Us
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
The demand for oilfield equipments is expected to be driven primarily by the rising oil extraction and refining activities coupled with increasing regional consumption and its growing demand across the globe. Shift towards unconventional oil fields such as shale gas has been driving the demand for oilfield equipments in both developed economies such as the U.S. and Europe and in emerging markets such as Asia Pacific and Latin America and this trend is expected to drive the demand over the forecast period.
However, regulatory policies and geopolitical issues are some of the major concerns which are expected to affect the oil field equipments market. On account of such issues, the world has been shifting focus towards the use of renewable energy sources which is acting as one of the major factors inhibiting the market growth.
Drilling equipments were the largest market segment, accounting for over 70% of the total oilfield equipment consumption in 2013. These equipments are most widely used in piercing and boring into the earth to access energy resources below the surface. Also, in terms of demand growth, drilling equipments, which include complete drilling rigs, rig components such as drill bits, and oil country tubular goods (OCTG) are expected to be the fastest growing segment in the overall market with an estimated CAGR of 4.1%. The global demand for pumps and valves is expected to reach USD 6.93 billion by 2019.
North America emerged as the leading consumer of oilfield equipments and accounted for over 40% of the global demand in 2013. U.S. market for oilfield equipment was valued at USD 29.05 billion in 2013 and is expected to reach USD 36.66 billion in 2019, growing at a CAGR of 3.9% from 2013 to 2019. Asia Pacific is expected to be the fastest growing market for oilfield equipments, growing at a CAGR of 4.3% from 2013 to 2019. The growth of exploration and production in China, implementation of licensing bidding in India and introduction of new policies in Indonesia has been major factors driving market growth in the region.
Some of the leading companies operating in the global market include National Oilwell Varco, Schlumberger, Weatherford International, Halliburton, Baker Hughes, Cameron International, Aker Solutions, FMC technologies and Eni.
The growing energy demand from both developing and developed economies is the major factor driving the global market for oilfield equipment. The shift towards unconventional energy resources such as shale gas is also expected to drive the market. This report estimates and forecasts the global oilfield equipment market demand in terms of revenues (USD million) from 2010 to 2019. The report also analyzes various factors which are driving and restraining the global demand along with highlighting the impact of these factors over the forecast period.
Browse the full report with TOC at http://www.transparencymarketresearch.com/oilfield-equipment.html
The study provides a comprehensive view of the oilfield equipment industry by segmenting and analyzing key oilfield equipments, namely drilling equipments, field production machinery, pumps and valves, and other machinery and equipments. Each of these segments has been analyzed and market data has been provided for the period 2010 to 2019, in terms of revenues (USD million) they generated. The demand for each of the oilfield equipment type mentioned above is examined on the basis of product type and geography (North America, Europe, Asia Pacific, Middle East, Africa and Latin America). The report also examines which of the above mentioned oilfield equipments’ type holds the potential for growth by using the market attractiveness analysis tool.
About Us
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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