Energy & Environment Industry Today
Oil Field Equipment Market to 2027: Industry Capacity, Investment Trends, Regulations and Opportunities
Market Research Future published a Half Cooked research report on “Global Oil Field Equipment Market Research Report - Forecast to 2027 ” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027
Published 07 February 2018
Oil Field Equipment Global Market – Overview
The oil & gas industry operates in three main sectors, namely, upstream, midstream, and downstream. The upstream sector, which is majorly associated with the exploration and production of oil and natural gas, utilises numerous services across different operations, spanning from searching for oil and gas to drilling wells, and operating them. The process, in itself, is very bulky and requires heavy machinery and specialised services for the complete process. As per the study conducted by Market Research Future, the global market for Oil Field Equipment is likely to grow at the CAGR of around 4%.
Oil & Gas industry is one of the major revenue generating industries which has pushed the market for exploration and production activities, where, Oil Field Equipment methods is one of them. In other words, the growth in the oil & gas industry will create a positive impact on the market for global Oil Field Equipment. Reviving fossil fuel demand is expected to result in a rise in demand for the Oil Field Equipment Market. The oil and gas industry has been experiencing severe revenue contraction post April 2014, following oil price decline. Persistent price downfall had a profound impact on the investments in the oil & gas industry, particularly the upstream sector. However, recent adjustments the oil prices have instigated a positive outlook for this industry. Changes in demand-supply dynamics is expected to induce a rise in the number of oil wells, thereby driving the Oil Field Equipment market. Increasing demand for oil and gas is also expected to fuel the demand in the Oil Field Equipment market.
Owing to the effects of various macro- and micro-economic factors, the upstream oil & gas services market has experienced significant changes over the past several months. Factors, such as shale gas production in North America, oversupply of crude oil from OPEC countries, economic slowdown in China, etc. resulted in anomalies in global crude oil demand and supply dynamics; and consequently led to a sharp decline in crude oil prices. This led to a severe downturn in the global upstream oil & gas services market and companies operating in this segment experienced a huge drop in their revenue collection. Following the global trend, current state of the APAC upstream oil & gas service industry remains volatile.
Geographically, the global Oil Field Equipment market has been divided into North America, Europe, Asia Pacific and Rest of the World. Among these, North America is currently leading this market with their shale gas revolution boosting the market. Asia-pacific regions accounts for a considerable portion of oil and gas demand and is expected to have a significant impact on the growth & development in the Oil Field Equipment market.
Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/1392
Prominent Players
Weatherford International, Schlumberger, Baker Hughes, National Oilwell Varco, Halliburton, Transocean, Aker Solutions, and Cameron International are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Oil Field Equipment Market.
Industry News
In June, 2017 – Nigerian National Petroleum Corporation (NNPC), FIRST Exploration & Production (First E&P) and Schlumberger signed a tripartite agreement for development of the Anyala and Madu fields under OML 83 and OML 85, offshore Nigeria.
In March, 2017 – Houston-based Halliburton Co. (NYSE: HAL) plans to have hired more than 2,000 U.S. oil field workers by the end of the first quarter. The hiring is in support of a sharp increase in demand for oil field services as the upstream sector builds momentum on what many assume is the end of the persistent oil downturn.
In January, 2017 – Halliburton (NYSE: HAL) announced it has signed a contract with Shell Iraq Petroleum Development to provide drilling services for sustained production at Shell's Majnoon Oil Field in Southern Iraq. Under the contract Halliburton will mobilize three rigs to drill development wells and carry out work over activities over the next two years.
In October, 2016 – GE (NYSE:GE) and Baker Hughes (NYSE:BHI) announced that the companies have entered into an agreement to combine GE's oil and gas business ("GE Oil & Gas") and Baker Hughes to create a world-leading oilfield technology provider with a unique mix of service and equipment capabilities.
Oil Field Equipment Global Market – Segmentation
The scope of global oil field equipment market is segmented into two major segments which are explained below:
Oil Field Equipment Global Market - Competitive Analysis
The global market for Oil Field Equipment is one of the most technological advance market. To maintain the market position and to drive the market growth, all the major players continuously strive for technological development in their Oil Field Equipment systems. Market leaders are rigorously involved in R&D activities, so as to develop feasible product, which fulfils all the client requirement over their upstream operations.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
The oil & gas industry operates in three main sectors, namely, upstream, midstream, and downstream. The upstream sector, which is majorly associated with the exploration and production of oil and natural gas, utilises numerous services across different operations, spanning from searching for oil and gas to drilling wells, and operating them. The process, in itself, is very bulky and requires heavy machinery and specialised services for the complete process. As per the study conducted by Market Research Future, the global market for Oil Field Equipment is likely to grow at the CAGR of around 4%.
Oil & Gas industry is one of the major revenue generating industries which has pushed the market for exploration and production activities, where, Oil Field Equipment methods is one of them. In other words, the growth in the oil & gas industry will create a positive impact on the market for global Oil Field Equipment. Reviving fossil fuel demand is expected to result in a rise in demand for the Oil Field Equipment Market. The oil and gas industry has been experiencing severe revenue contraction post April 2014, following oil price decline. Persistent price downfall had a profound impact on the investments in the oil & gas industry, particularly the upstream sector. However, recent adjustments the oil prices have instigated a positive outlook for this industry. Changes in demand-supply dynamics is expected to induce a rise in the number of oil wells, thereby driving the Oil Field Equipment market. Increasing demand for oil and gas is also expected to fuel the demand in the Oil Field Equipment market.
Owing to the effects of various macro- and micro-economic factors, the upstream oil & gas services market has experienced significant changes over the past several months. Factors, such as shale gas production in North America, oversupply of crude oil from OPEC countries, economic slowdown in China, etc. resulted in anomalies in global crude oil demand and supply dynamics; and consequently led to a sharp decline in crude oil prices. This led to a severe downturn in the global upstream oil & gas services market and companies operating in this segment experienced a huge drop in their revenue collection. Following the global trend, current state of the APAC upstream oil & gas service industry remains volatile.
Geographically, the global Oil Field Equipment market has been divided into North America, Europe, Asia Pacific and Rest of the World. Among these, North America is currently leading this market with their shale gas revolution boosting the market. Asia-pacific regions accounts for a considerable portion of oil and gas demand and is expected to have a significant impact on the growth & development in the Oil Field Equipment market.
Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/1392
Prominent Players
Weatherford International, Schlumberger, Baker Hughes, National Oilwell Varco, Halliburton, Transocean, Aker Solutions, and Cameron International are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Oil Field Equipment Market.
Industry News
In June, 2017 – Nigerian National Petroleum Corporation (NNPC), FIRST Exploration & Production (First E&P) and Schlumberger signed a tripartite agreement for development of the Anyala and Madu fields under OML 83 and OML 85, offshore Nigeria.
In March, 2017 – Houston-based Halliburton Co. (NYSE: HAL) plans to have hired more than 2,000 U.S. oil field workers by the end of the first quarter. The hiring is in support of a sharp increase in demand for oil field services as the upstream sector builds momentum on what many assume is the end of the persistent oil downturn.
In January, 2017 – Halliburton (NYSE: HAL) announced it has signed a contract with Shell Iraq Petroleum Development to provide drilling services for sustained production at Shell's Majnoon Oil Field in Southern Iraq. Under the contract Halliburton will mobilize three rigs to drill development wells and carry out work over activities over the next two years.
In October, 2016 – GE (NYSE:GE) and Baker Hughes (NYSE:BHI) announced that the companies have entered into an agreement to combine GE's oil and gas business ("GE Oil & Gas") and Baker Hughes to create a world-leading oilfield technology provider with a unique mix of service and equipment capabilities.
Oil Field Equipment Global Market – Segmentation
The scope of global oil field equipment market is segmented into two major segments which are explained below:
- By Type
- Drilling
- Drill Pipe
- Drill Collars
- Pressure and Flow control
- BOP’s
- Valves
- Manifolds
- Drilling
- By Equipment
- Drilling Equipment
- Field Production Machinery
- Pumps & Valves
- Others
Oil Field Equipment Global Market - Competitive Analysis
The global market for Oil Field Equipment is one of the most technological advance market. To maintain the market position and to drive the market growth, all the major players continuously strive for technological development in their Oil Field Equipment systems. Market leaders are rigorously involved in R&D activities, so as to develop feasible product, which fulfils all the client requirement over their upstream operations.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
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