Global Oil Field Equipment Market Growth 2023-2029

Global Oil Field Equipment Market Growth 2023-2029

Crude oil prices have eased in the past few months and are enough to support the demand for oilfield equipment in the industry. However, the impact of rise in prices have not been universal, with latest development suggesting a surge in the US onshore output (mainly from the shale reserve) and comparatively less activity elsewhere, especially in offshore. The decline in crude oil prices has forced the oil & gas companies to invest in technology to reduce the breakeven prices and change their strategy, which has helped several marginal projects to become viable. As the crude oil prices are increasing and has already crossed USD 70 per barrel mark in May 2018, the upstream investment is expected to grow significantly and bring several projects online, thereby, driving the market.

LPI (LP Information)' newest research report, the “Oil Field Equipment Industry Forecast” looks at past sales and reviews total world Oil Field Equipment sales in 2022, providing a comprehensive analysis by region and market sector of projected Oil Field Equipment sales for 2023 through 2029. With Oil Field Equipment sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Oil Field Equipment industry.

This Insight Report provides a comprehensive analysis of the global Oil Field Equipment landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Oil Field Equipment portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Oil Field Equipment market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Oil Field Equipment and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Oil Field Equipment.

The global Oil Field Equipment market size is projected to grow from US$ 96.3 million in 2022 to US$ 122.8 million in 2029; it is expected to grow at a CAGR of 122.8 from 2023 to 2029.

Growth in oil and gas investment is expected to be especially strong in developing regions, where improving infrastructure will contribute to more drilling activity. The discovery of new reserves and the depletion of existing ones have led to new extraction techniques and increased complexity of drilling, raising the costs of production.

This report presents a comprehensive overview, market shares, and growth opportunities of Oil Field Equipment market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Drilling Equipment
Field Production Machinery
Pumps & Valves

Segmentation by application
Onshore
Offshore

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ABB
GE Oil And Gas
Weatherford International
Schlumberger
Superior Energy Services
Pioneer Energy Services
C&J Energy Services
Schlumberger
Halliburton
National Oilwell Varco
Basic Energy Services
Expro International
Wireline Engineering
Oilserv
SBS

Key Questions Addressed in this Report

What is the 10-year outlook for the global Oil Field Equipment market?

What factors are driving Oil Field Equipment market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Oil Field Equipment market opportunities vary by end market size?

How does Oil Field Equipment break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.