Global
Oilfield Equipment Market 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.
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the full report at
http://www.transparencymarketresearch.com/oilfield-equipment.html
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 2012. 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 2018.
North
America emerged as the leading consumer of oilfield equipments and
accounted for over 40% of the global demand in 2012. U.S. market for
oilfield equipment was valued at USD 29.05 billion in 2012 and is
expected to reach USD 36.66 billion in 2018, growing at a CAGR of
3.9% from 2012 to 2018. Asia Pacific is expected to be the fastest
growing market for oilfield equipments, growing at a CAGR of 4.3%
from 2012 to 2018. 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
report segments the global oilfield equipment market as:
Oilfield
Equipment Market, by Product
Drilling
Equipments
Field
Machinery Equipment
Pumps
and Valves
Other
(including Derricks, Well Surveying Machinery etc.)
Oilfield
Equipment Market, by Geography
North
America
United
States
Drilling
Equipments
Field
Machinery Equipment
Pumps
and Valves
Other
(including Derricks, Well Surveying Machinery etc.)
Europe
Asia
Pacific
Middle
East and Africa
Latin
America
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