Transparency Market Research Global Oilfield Equipment Market is growing at a CAGR of 3.8% from 2013 to 2019. By Transparency Market Research.
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Published Date 09-July-2013
73 Page Report
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Global Oilfield Equipment Market is growing at a CAGR of 3.8% from 2013 to 2019. By Transparency Market Research. Transparency Market Research State Tower, 90, State Street, Suite 700. Albany, NY 12207 United States www.transparencymarketresearch.com sales@transparencymarketresearch.com
Global Oilfield Equipment Market
REPORT DESCRIPTION
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. Browse 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:
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Global Oilfield Equipment Market
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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Global Oilfield Equipment Market
About Us
Transparency Market Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forwardlooking 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 business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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