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The oilfield service industry is completely dependent on upstream operations thus, in this scenario, it will be profited. Oilfield equipment are elementary equipment used for the development of successfully explored oilfields. These include a wide range of equipment that perform the functions starting from drilling to well completion. The main functions of oilfield equipment include drilling, data acquisition, well intervention, well logging, well completion, pressure maintenance, flow control, and others. In recent times oil and gas has been witnessing a significant downturn due to the continuous fall in the prices. These changes in the supply and demand dynamics is expected to raise the number of oil wells thus, resulting in boosting the oil field Equipment market. Increasing demand for oil and gas is also expected to fuel the demand in the oilfield Equipment market.
The factors include, oil price recovery, increasing oil exploration and field development activities, rising number of mature oil wells. For instance, in April 2018, Carnarvon Petroleum Ltd., Perth, has announced its plans for redevelopment of Buffalo oil field in the Timor Sea. The field now lies completely within the jurisdiction of East Timor following the signing of the Maritime Boundary Treaty with Australia earlier this year.
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Global Oilfield Equipment Market Segments Analysis:
Th global oilfield equipment market is segmented on the basis of equipment, type and region.
Based on equipment, the market is further segmented into Drilling Equipment, Field Production Machinery, Pumps, Valves, Others. Amongst these segments, drilling equipment segments holds the largest share due to increased number of drilling projects across the globe.
On the basis of type, market is classified as drilling (Drill Pipe, Drill Collars), Pressure & Flow control (BOP, Valves, Manifold). Drill Pipe segment accounts for the largest market share due to large drilling activities in offshore and onshore.
Regional Analysis:
Geographically, the global oilfield equipment market has been segmented into four major regions, such as North America, Europe, Asia Pacific, and Middle East & Africa.
North America region held the largest market share in oilfield equipment market. In North America region exploration activities and rock study activities for shale oil, oil sands, and carbonate rocks are rising. For instance the production from shale oil in 2017 was 4.67 million barrels, which contributed half of the total oil produce from U.S. Asia Pacific and Africa region are likely to lead to the growth of oilfield equipment market. Major growth is attributed to the discoveries in Gulf of Thailand, and South China Sea from Asia Pacific and Mediterranean Sea and Egypt desert from Africa.
Oilfield Equipment Industry Prominent Players:
The key players of global oilfield equipment market are GE Oil and Gas (U.S.), Weatherford International (U.S.), Schlumberger (U.S.), Superior Energy Services (U.S.), Pioneer Energy Services Corp. (U.S.), C&J Energy Services Ltd. (U.S.), and National Oilwell Varco, Inc. (U.S.). Halliburton (U.S.), Basic Energy Services, Inc. (U.S.), Expro International Group Holding Ltd. (UK), Wireline Engineering Ltd. (UK), Oilserv (UAE), SGS (Switzerland), ABB Oil, and Gas and Petrochemical Business Unit (Switzerland) are among others.
Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
List Of Tables
Table 1 Global Oilfield Equipment Market: By Region, 2018-2023
Table 2 North America Oilfield Equipment Market: By Country, 2018-2023
Table 3 Europe Oilfield Equipment Market: By Country, 2018-2023
Table 4 Asia Pacific Oilfield Equipment Market: By Country, 2018-2023
Table 5 RoW Oilfield Equipment Market: By Country, 2018-2023
Table 6 Global Oilfield Equipment Market, By Equipment, By Regions, 2018-2023
Continued…
List Of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
FIGURE 7 VALUE CHAIN ANALYSIS
Continued…
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