Oilfield Equipment Market to Reach $141.49 Bn, by 2026 at 3.

|Apr 1|magazine13 min read

Surge in exploration and drilling activities for oil across the world and redevelopment of mature oil wells drive the global oilfield equipment market

PORTLAND, Oregon, April 1, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Oilfield Equipment Market by Type (Drilling Equipment, Field Production Machinery, Pumps and Valves, and Others) and Application (On-Shore, and Off-Shore): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global oilfield equipment industry garnered $111.40 billion in 2018, and is expected to reach $141.49 billion by 2026, registering a CAGR of 3.1% from 2019 to 2026.

Drivers, restraints, and opportunities

Surge in exploration and drilling activities for oil across the world and redevelopment of mature oil wells drive the global oilfield equipment market. However, surge in raw material prices and fluctuation in foreign currencies restrain the market growth. On the other hand, technological developments in the oil and gas industry that enables enhanced safety and efficiency create new opportunities in the market.

The drilling equipment segment to maintain its lead status during the forecast period

Based on type, the drilling equipment segment contributed to nearly two-thirds of the total share of the global oilfield equipment market in 2018, and is projected to maintain its lead status during the forecast period. This is due to the technological advancements in oil drilling equipment and drilling processes over the past few years. Moreover, the pumps and valves segment would witness the fastest CAGR of 5.1% from 2019 to 2026. This is attributed to heavy investments in oil & gas exploration activities along with refineries and pipelines.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/6342

The on-shore segment to offer lucrative opportunities

Based on application, the on-shore segment accounted for the largest market share of the global oilfield equipment market, accounting for more than two-thirds of the total market share in 2018, and is expected to maintain its lion's share in terms of revenue by 2026. Moreover, this segment is estimated to grow at the highest CAGR of 3.5% from 2019 to 2026. This is due to increase in investments in on-shore oil & gas production and exploration activities. The report also analyzes the off-shore segment.

North America to grow at highest growth rate and contribute largest revenue

Based on region, North America accounted for the highest market share in terms of revenue, accounting for nearly two-fifths of the global oilfield equipment market in 2018, and is estimated to dominate during the forecast period. Moreover, the region is expected to maintain the largest CAGR of 3.8% from 2019 to 2026. This is attributed to the number of leading market players operating in the region and technological advancements. The report also analyzes regions including Asia-Pacific, Europe, and LAMEA.

Inquire for Purchase Report: https://www.alliedmarketresearch.com/purchase-enquiry/6342

Leading market players

  • ABB
  • Baker Hughes
  • Delta Corporation
  • EthosEnergy Group Limited
  • Integrated Equipment
  • Jereh Oilfield Equipment
  • MSP/Drilex, Inc.
  • Sunnda Corporation
  • Uztel S.A.
  • Weir Group

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports:

Wellhead Equipment Market Expected to Reach $7.9 Billion by 2026

Filtration & Separation Market Expected to Reach $116.1 Billion by 2026

Smart Mining Market is Expected to Reach $24.0 Billion by 2027

Artificial Lift System Market to Reach $34,569 Million by 2022

Oil Storage Market Expected to Reach $4,307 Million by 2023

Pre-Book Now with 12% Discount:

Oilfield Services Market- Global Opportunity Analysis and Industry Forecast, 2020-2027

Oil Field Equipment Market - Global Opportunity Analysis and Industry Forecast, 2020–2027

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]

Web: http://www.alliedmarketresearch.com 
Follow us on: https://www.linkedin.com/company/allied-market-research/

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg