Oilfield Equipment Market size is expected to reach nearly US$ 157.72 Bn by 2029 with the CAGR of 4.5% during the forecast period.
Oilfield Equipment Market Overview:
The Oilfield Equipment market research gives a detailed view of the competition, including the market share and company profiles of the major competitors in the global industry. The scope of the research includes a comprehensive examination of the Oilfield Equipment Market, as well as the reasons for variations in the industry's growth in various locations.
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Market Scope:
Following the completion of market engineering, which included calculations for market statistics, estimations of market size, market forecasts, market breakdown, and data triangulation, significant primary research was done to acquire information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up techniques, as well as many data triangulation methodologies, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all facts obtained over the whole market engineering process in order to provide essential information throughout the report.
Oilfield Equipment Market Segment:
By equipment, kind, and region, the global oilfield equipment market is divided. The market is further divided into drilling equipment, field production equipment, pumps, valves, and other equipment based on the kind of equipment. The market is divided into three categories based on type: pressure & flow control, drilling (drill pipe, drill collars) (bop, valves, manifold). Onshore and offshore market segments are created based on application.
An in-depth analysis was conducted by an experienced researcher from Maximize Market Research to understand the market performance and contribution of various sectors.
According to the data from Maximize Market Research, the equipment category would have a maximum share of about % worldwide.
Oilfield Equipment Market Key players:
• 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.),
• 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)
• Baker Hughes Company
Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary research included a review of the leading manufacturers' annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are utilized to compute percentage splits, market shares, growth rates, and global market breakdowns, which are then checked using primary data.
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Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Oilfield Equipment market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Oilfield Equipment Market:
End-user industries where Oilfield Equipment are utilised saw a dip in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of businesses working in these industries and, as a result, in demand for Oilfield Equipment manufacturers, influencing the development of the Oilfield Equipment market in 2020. End-user business demand for Oilfield Equipment has declined significantly as a result of lockdowns and an increase in COVID-19 events worldwide.
Key Questions Answered in the Oilfield Equipment Market Report are:
- In 2021, which segment held the highest proportion of the Oilfield Equipment market?
- What is the Oilfield Equipment market's competitive landscape?
- What are the primary drivers assisting Oilfield Equipment market growth?
- Which region has the most market share in the Oilfield Equipment market?
- What will be the Oilfield Equipment market's CAGR throughout the projected period (2022-2027)?
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