The latest report on the ‘Global Oilfield Equipment Market’ is 200 pages long and includes a number of tables and figures. This report covers the period from 2023 to 2032 and offers valuable insights into the market landscape.
The “Global Oilfield Equipment Market” report offers comprehensive insights into factors affecting demand, growth, opportunities, challenges, and limitations. It covers global and regional industry dynamics, including research & development, new product launches, and responses from leading players in both global and local markets. The report provides visual representations and regional breakdowns of the Oilfield Equipment Market.
Global Oilfield Equipment Market is valued approximately at USD $$ billion in 2022 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2032.
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Oilfield equipment is a collection of equipment used for the mining and drilling of oil or gas. Its types include solid control equipment, well-control equipment, on-shore & off-shore drilling rig, drilling rig parts, oilfield supplies, pump jacks & pumping units, pumps & engines, tanks & boats, and oilfield trucks and machinery. The rise in the redevelopment of mature oil wells, the recovery of oil prices, and the increase in oil exploration and drilling activities around the globe are driving market growth in oilfield equipment. In addition, the increased economic productivity of the oil exploration and drilling and service industries improves the use of oilfield equipment, which in turn enhances the market for oilfield equipment. However, foreign currency fluctuations continue to affect profit margins and the rise in raw material prices is expected to impede the growth of the demand for oilfield equipment. Companies have also invested in technical advancement to ensure safety and protection during the use of this equipment, which is expected to boost the global demand for oilfield equipment.
The oil & gas industry is expected to make a major contribution to market growth over the forecast period towards the production of other alternative energy sources to meet global demand. Advanced technologies such as Artificial Intelligence, IoT and analytics help digitize oil and gas refineries, pipelines, drilling sites, and facilities. This aspect enables oil & gas companies to collect all the necessary data on a single platform. In addition, there is an increase in expenditure for new technologies in oil and gas companies to increase production, minimize risks and reduce costs. For example , in September 2019, the Imperial and Alberta Machine Intelligence Institute (Amii) collaborated to develop machine learning and artificial intelligence ( AI) capabilities for the oil and gas industry to increase the protection of its workers and reduce environmental impacts. Similarly, Dataiku Technology and Schlumberger formed a partnership in December 2019 to build and deploy artificial intelligence solutions throughout oil and gas operations. However, fluctuating crude oil process Low crude prices are axiomatic and will continue at least for next one year, which will affect the demand of the various services in the oilfield services market.
The regional analysis of global Oilfield Equipment Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. In view of the increasing unconventional output of hydrocarbons in the region, North America is expected to dominate the global oilfield equipment rental market. The area is a new swing producer in global oil markets due to the boom in shale production and deep-water exploration and production in the Gulf of Mexico. Exploration and development activities in the region are also expected to gain traction with increased capital expenditure by major oil companies. Both of these factors are expected to drive the North American oilfield equipment rental market.
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Major market player included in this report are:
Schlumberger Limited
Halliburton Company
Superior Energy Services, Inc.
Oil States International, Inc.
Technipfmc, PLC
Weatherford International, PLC
Parker Drilling Company
Seventy Seven Energy, Inc.
Basic Energy Services, Inc.
Key Energy Services, Inc.
John Energy, Ltd.
Circle T Service & Rental, Ltd.
Ensign Energy Services, Inc.
Bestway Oilfields
Kit Oil & Gas
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Equipment:
Drilling Equipment
Field Production Machinery
Pumps and Valves
Others
By Application:
On-Shore
Off-Shore
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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Report Overview:
This research offers a comprehensive exploration of the emerging trends poised to shape the future business landscape. It delves deep into the pivotal factors driving the growth of the Oilfield Equipment market over the projected period. Furthermore, the report sheds light on strategic initiatives undertaken by leading industry players to fortify their market positions.
Market Dynamics:
Encompassing a global perspective, this study presents insights into the influential entities within the worldwide Oilfield Equipment market. It encompasses contact details, sales figures, and global market estimates. The research draws from reputable sources and institutions, aggregating a wealth of information and insightful analysis pertaining to the global Oilfield Equipment market.
Marketing Insights:
The study furnishes essential facts and statistics relevant for marketers, consultants, and decision-makers navigating the global Oilfield Equipment market landscape. With comprehensive regional breakdowns, this research offers a vital resource for newcomers venturing into the global Oilfield Equipment market. It encapsulates indispensable insights extracted from the Oilfield Equipment Market domain, facilitating informed decision-making processes.
This report covers several key questions related to the global Oilfield Equipment market, including:
- What can be expected for the Oilfield Equipment market in the next decade?
- What are the primary drivers of growth in the global Oilfield Equipment market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Oilfield Equipment market vary based on the size of the end market?
- What is the breakdown of Oilfield Equipment by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Oilfield Equipment market?
Our most recent research report showcases the thriving expansion of the global Oilfield Equipment Market and offers in-depth insights into the projected market size, share, and revenue until 2032.
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