The report on global oil field equipment market provides qualitative and quantitative analysis for the period of 2016 to 2024. The report predicts the global oil field equipment market to grow with a CAGR of 3.7% over the forecast period of 2018-2024. The study on oil field equipment market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific and RoW for the period of 2016 to 2024.
Technological advancements in oil field equipment for improved recovery and better performance along with high production rate drives the growth of the oil field equipment market. In addition, growth in the oil and gas is anticipated to especially be strong in the developing countries where improving infrastructure will contribute to more drilling activity .Moreover, advancement in drilling techniques are further anticipated to boost the growth of the oil field equipment market. However, some of the oil fields are located far away from the readily available sources of electricity hence before starting to drill there should be enough amount of electricity to power the equipment. This in turn is restraining the growth of the oil field equipment market. Furthermore, the prices of crude oil are increasing and the upstream investment is projected to grow significantly and bring several projects online creating several growth opportunities for the key players in the oil field equipment market.
Among the geographies, North America is the largest oil field equipment market. The growth in the North American region is owing to the high drilling activities to meet the energy demands along with development of shale gas. Further, as the drilled wells are ready for production, the demand for oilfield equipment is expected to increase. On the other hand, the Mexican government has offered several blocks for exploration in the past few years. China is expected to contribute maximum towards regional industry growth in future. Other countries including India, Thailand, and Indonesia are also expected to witness high market growth over the forecast period.
The report on oil field equipment market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global oil field equipment market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.
Porter’s five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global oil field equipment market over the period of 2016 to 2024. Further, IGR- Growth Matrix given in the report brings an insight on the investment areas that existing or new market players can consider.
A) Primary Research
Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached through
1. Key Opinion Leaders associated with Infinium Global Research
2. Internal and External subject matter experts
3. Professionals and participants from LinkedIn, Hoovers, Factiva and Bloggers
Our primary research respondents typically include
1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.
The secondary sources of the data typically include
1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
The global oil field equipment market is segmented on the basis of product and application.
Global Oil Field Equipment Market by Product
• Downhole Drilling Tools
• Fishing And Re-Entry
• Tubular Running Services
• Cementing Equipment
• Pressure Control Equipment
Global Oil Field Equipment Market by Application
• FMC Technologies
• Aker Solutions
• Cameron International
• Baker Hughes
• Weatherford International
• National Oilwell Varco Incorporated
How this report delivers?
1. Comprehensive analysis of global as well as regional markets of oil field equipment market.
2. Complete coverage of all the segments in oil field equipment market to analyze the trends, developments in the global market and forecast of market size up to 2024.
3. Comprehensive analysis of the companies operating in global oil field equipment market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. IGR- Growth Matrix presents analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.