Market Overview:
The global oil field equipment market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for oil and gas across the globe. Additionally, the increasing investments in exploration and production activities are also contributing to the growth of this market. The drilling equipment segment is expected to dominate the global oil field equipment market during the forecast period. This segment is anticipated to grow at a CAGR of 5.8% from 2018 to 2030 due to rising demand for drilling services across various regions worldwide.
Product Definition:
Oil Field Equipment is a collective term for the machines and tools used in the oil industry. It includes everything from drilling rigs to tanks and pipelines. The importance of Oil Field Equipment cannot be overstated. It is responsible for extracting oil and gas from the ground, transporting it to refineries, and distributing it around the world.
Drilling Equipment:
Drilling equipment is the most important oil field equipment. It is used in drilling and exploration for petroleum or natural gas production. The global market size was valued at USD 31,17 billion in 2016 and it is expected to grow at a CAGR of XX% from 2017 to 2022.
Field Production Machinery:
The global field production machinery and it's usage in oil field equipment market size was valued at USD 8.5 billion in 2016. The growing demand for crude oil across the globe is expected to be a key factor driving the industry growth over the forecast period.
Crude oil is being extracted from the ground using conventional means of drilling and exploration techniques, which are time-consuming, expensive, and labor-intensive.
Application Insights:
Onshore was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The growth of this application can be attributed to increasing demand for oil field services, such as drilling, completions, EOR & water management among others. Onshore activities require less equipment as compared to offshore due to lower operating costs and higher accessibility for repair & maintenance operations.
The development of onshore fields has been sluggish as compared to their offshore counterparts owing to low production rates from onshore wells across various regions including Middle East & Africa and Asia Pacific. However, with rising exploration activities in these regions coupled with growing need for refining crude oil into petroleum products; demand for advanced technologies related both onshore and offshore is anticipated drive growth over the forecast period.
Regional Analysis:
North America accounted for the largest share of over 35% in 2017. The U.S., being a major oil producer, has witnessed significant adoption of drilling and production (D&P) equipment over the years.
Asia Pacific is anticipated to be one of the fastest-growing regions during the forecast period owing to rising government investments and initiatives taken by various governments across countries such as China and India for boosting domestic energy supplies at reasonable costs coupled with favorable regulatory policies aimed at reducing environmental pollution levels generated from conventional sources such as coal or gas plants.
Middle East & Africa was estimated at USD X million in 2017.
Growth Factors:
- Increasing demand for oil and gas across the globe
- Rising investments in the oil and gas sector
- Proliferation of new technologies and equipment for drilling and production
- Growing number of aging oil fields that need to be refurbished or replaced
- Emergence of shale gas as a viable energy source
Scope Of The Report
Report Attributes
Report Details
Report Title
Oil Field Equipment Market Research Report
By Type
Drilling Equipment, Field Production Machinery, Pumps & Valves
By Application
Onshore, Offshore
By Companies
ABB, GE Oil And Gas, Weatherford International, Schlumberger, Superior Energy Services, Pioneer Energy Services, C&J Energy Services, Schlumberger, Halliburton, National Oilwell Varco, ABB, Expro International, Wireline Engineering, Oilserv, SBS
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
239
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Oil Field Equipment Market Report Segments:
The global Oil Field Equipment market is segmented on the basis of:
Types
Drilling Equipment, Field Production Machinery, Pumps & Valves
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Onshore, Offshore
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- GE Oil And Gas
- Weatherford International
- Schlumberger
- Superior Energy Services
- Pioneer Energy Services
- C&J Energy Services
- Schlumberger
- Halliburton
- National Oilwell Varco
- ABB
- Expro International
- Wireline Engineering
- Oilserv
- SBS
Highlights of The Oil Field Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Drilling Equipment
- Field Production Machinery
- Pumps & Valves
- By Application:
- Onshore
- Offshore
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Oil Field Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Oil field equipment is a broad term that can refer to anything from the large pieces of machinery used in oil drilling, such as derricks and compressors, to the smaller tools and supplies used by workers onsite. Oil field equipment can be expensive and complex, but it's essential for extracting oil from underground reservoirs.
Some of the key players operating in the oil field equipment market are ABB, GE Oil And Gas, Weatherford International, Schlumberger, Superior Energy Services, Pioneer Energy Services, C&J Energy Services, Schlumberger, Halliburton, National Oilwell Varco, ABB, Expro International, Wireline Engineering, Oilserv, SBS.
The oil field equipment market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Oil Field Equipment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Oil Field Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Oil Field Equipment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Oil Field Equipment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Oil Field Equipment Market Size & Forecast, 2018-2028
4.5.1 Oil Field Equipment Market Size and Y-o-Y Growth
4.5.2 Oil Field Equipment Market Absolute $ Opportunity
Chapter 5 Global Oil Field Equipment Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Oil Field Equipment Market Size Forecast by Type
5.2.1 Drilling Equipment
5.2.2 Field Production Machinery
5.2.3 Pumps & Valves
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Oil Field Equipment Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Oil Field Equipment Market Size Forecast by Applications
6.2.1 Onshore
6.2.2 Offshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Oil Field Equipment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Oil Field Equipment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Oil Field Equipment Analysis and Forecast
9.1 Introduction
9.2 North America Oil Field Equipment Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Oil Field Equipment Market Size Forecast by Type
9.6.1 Drilling Equipment
9.6.2 Field Production Machinery
9.6.3 Pumps & Valves
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Oil Field Equipment Market Size Forecast by Applications
9.10.1 Onshore
9.10.2 Offshore
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Oil Field Equipment Analysis and Forecast
10.1 Introduction
10.2 Europe Oil Field Equipment Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Oil Field Equipment Market Size Forecast by Type
10.6.1 Drilling Equipment
10.6.2 Field Production Machinery
10.6.3 Pumps & Valves
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Oil Field Equipment Market Size Forecast by Applications
10.10.1 Onshore
10.10.2 Offshore
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Oil Field Equipment Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Oil Field Equipment Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Oil Field Equipment Market Size Forecast by Type
11.6.1 Drilling Equipment
11.6.2 Field Production Machinery
11.6.3 Pumps & Valves
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Oil Field Equipment Market Size Forecast by Applications
11.10.1 Onshore
11.10.2 Offshore
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Oil Field Equipment Analysis and Forecast
12.1 Introduction
12.2 Latin America Oil Field Equipment Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Oil Field Equipment Market Size Forecast by Type
12.6.1 Drilling Equipment
12.6.2 Field Production Machinery
12.6.3 Pumps & Valves
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Oil Field Equipment Market Size Forecast by Applications
12.10.1 Onshore
12.10.2 Offshore
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Oil Field Equipment Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Oil Field Equipment Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Oil Field Equipment Market Size Forecast by Type
13.6.1 Drilling Equipment
13.6.2 Field Production Machinery
13.6.3 Pumps & Valves
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Oil Field Equipment Market Size Forecast by Applications
13.10.1 Onshore
13.10.2 Offshore
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Oil Field Equipment Market: Competitive Dashboard
14.2 Global Oil Field Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 GE Oil And Gas
14.3.3 Weatherford International
14.3.4 Schlumberger
14.3.5 Superior Energy Services
14.3.6 Pioneer Energy Services
14.3.7 C&J Energy Services
14.3.8 Schlumberger
14.3.9 Halliburton
14.3.10 National Oilwell Varco
14.3.11 ABB
14.3.12 Expro International
14.3.13 Wireline Engineering
14.3.14 Oilserv
14.3.15 SBS
