Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Oilfield Equipment Market to Witness Steady Growth Based on Exploration of Unconventional Oil & Gas Resources Till 2020 | Million Insights


News provided by

Million Insights

03 Jul, 2019, 10:20 GMT

Share this article

Share toX

Share this article

Share toX

FELTON, California, July 3, 2019 /PRNewswire/ -- With the ever increasing population and the demand for oil as the primary resource of energy, the global Oilfield Equipment Market during the forecast period is expected to cover a market size of USD 97.34 billion in 2013. Companies are investing in R&D for extracting oil and gas from the reservoirs using oilfield equipment. The technology is gaining momentum as a result of offshore activities in Gulf of Mexico in North America and South China Sea spread across countries such as Vietnam, Thailand & China. One of the major driver of this market is exploration of unconventional oil and gas resource.

Exploration and extraction of unconventional reserves are not economical, the processes have to be carried out by these equipment, so this will result in the overall growth of the market. The key players are likely to invest more to improve operations related to crude oil. The improvement can be achieved with developing tools of higher efficiency so as to give better output with safer working environment.

The Asia Pacific region significantly is the major prospect to improve the operations standard in energy supply with lower import rates. Investment into technology development is driving the market so as to ensure safe and secure ways to derive the oil products both from onshore and offshore operations. Over the period of 2017-2020 the demand for technological shift on the onshore operations can witness the growth CAGR of 4%.

The total market is estimated to increase at 12% y-o-y basis. This fortune is expected due to improvement of oil market behavior over recent times. Exploration & production companies in oil & gas industry are shifting towards development of other unconventional sources to inline their supply with the global market demand.

Get Sample PDF and read more details about the "Oilfield Equipment Market" Report 2020.

One of the other ways of using equipment are renting the technology due to increase in the off shore activities. The entry of key players in the equipment rental segment is also a primary reason for the market drive. The geopolitical reasons and the idea of sustainable planet can be one of the restraints for this industry to bloom with the lack of skilled workforce.

Huge investment are being done in this segment to meet the demand of government rules. New technology that is trending, is EOR (Enhanced Oil Recovery) to extract maximum from the reserves. Thermal recovery, gas injection, and chemical injection are the type of EOR technology. The drift in thought of usage of green energy may impact the market growth over the forecast period

Product Insights

Product segment included in this report are pumping equipment's, valves, drilling equipment, offshore and onshore equipment's like coiled tube and other automated tools. From exploration to extraction to supply for end use this equipment are used in many operations.

Drilling equipment occupied the market share of 73.65% of the total market volume. This equipment is supposed to be the major equipment used are for exploring the reservoirs. The storage and transportation of crude oil is the major task for the players engage in this industry because of its toxicity in nature also the huge capital investment. Stringent government rules are ensured in order to protect and safeguard and secure the environment by developed countries.

Efficient transportation using source of energy is required for the pipeline mode in order to deliver the products to the end customer safely. In this way the pump and valves comes into picture as they are secondary segment of equipment in the market and are being used for the pipeline transport system. The treatment of crude requires other set of equipment to ensure the delivery of pure product before it is delivered to refineries to extract derivatives or to end users. One of the major segment which is of main concern to the industry is waste management.

Browse 80 page research report with TOC on "Global Oilfield Equipment Market" at: https://www.millioninsights.com/industry-reports/oilfield-equipment-market

Regional Insights

Countries like U.S. and Canada in North America leads the segment due to energy demand and boom in shale gas development. Countries of APAC also share a significant market share due to increase in capital investment in oil industry by Public companies and also from private companies like Reliance and Adani.

Middle East and Africa due to presence of OPEC can expect a growth over the forecast period. China and India might set themselves up as a major consumer of technology advancement in crude oil operations. Latin America is also expected to grow significantly over the forecast period.

Competitive Insights

The innovation in technology might decide the key players of this market segment over the forecast period. Key market players include Weatherford International, National Oilwell Varco, Halliburton, Schlumberger, Aker Solutions, Cameron International and Baker Hughes.

The segmentation is carried out on the basis of operations they perform like manufacture and sell oilfield tools by FMC Technologies and National Oilwell Vraco, finding & extracting crude Halliburton and Weatherford, rental equipment's by Rowan and Transocean.

Technological breakthrough like EOR, directional drilling and innovation in the field of rock bed fracturing will result in high growth. In addition to this fluctuating crude demand mainly on higher side added with swollen prices due to increasing exploration & production activities in remote places which in turn is expected to drive market players' growth over the foreseeable future.

Market Segment:

  • Oilfield Equipment Product Outlook (Revenue, USD Million, 2012 - 2020)
      • Drilling Equipment
      • Field Production Machinery
      • Pumps & Valves
      • Others
  • Oilfield Equipment Regional Outlook (USD Million, 2012 - 2020)
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • Latin America

Browse reports of similar category available with Million Insights:

  • Compressor Oil Market
  • Metalworking Fluids Market
  • Mining Chemicals Market
  • Oleochemicals Market

About Million Insights:

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:

Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: +1-408-610-2300
Toll Free: 1-866-831-4085
Email: sales@millioninsights.com

Web: https://www.millioninsights.com/

Blog: https://millioninsights.blogspot.com/

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.