Report Ocean publicize new report on the Oilfield Equipment Market. The Oilfield Equipment Market report contains numerous information about factors, such as market restraints, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the Oilfield Equipment Market growth. Additionally, the database analyzes and estimates the Oilfield Equipment Market both globally and regionally.
Global Oilfield Equipment Market is valued approximately at USD $$billion in 2019 and is anticipated to grow with a healthy growth rate of more than $$% over the forecast period 2020-2027.
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Oilfield equipment is a collection of equipment used for the mining and drilling of oil or gas. Its types include solid control equipment, well-control equipment, on-shore & off-shore drilling rig, drilling rig parts, oilfield supplies, pump jacks & pumping units, pumps & engines, tanks & boats, and oilfield trucks and machinery. The rise in the redevelopment of mature oil wells, the recovery of oil prices, and the increase in oil exploration and drilling activities around the globe are driving market growth in oilfield equipment. In addition, the increased economic productivity of the oil exploration and drilling and service industries improves the use of oilfield equipment, which in turn enhances the market for oilfield equipment. However, foreign currency fluctuations continue to affect profit margins and the rise in raw material prices is expected to impede the growth of the demand for oilfield equipment. Companies have also invested in technical advancement to ensure safety and protection during the use of this equipment, which is expected to boost the global demand for oilfield equipment.
The oil & gas industry is expected to make a major contribution to market growth over the forecast period towards the production of other alternative energy sources to meet global demand. Advanced technologies such as Artificial Intelligence, IoT and analytics help digitize oil and gas refineries, pipelines, drilling sites, and facilities. This aspect enables oil & gas companies to collect all the necessary data on a single platform. In addition, there is an increase in expenditure for new technologies in oil and gas companies to increase production, minimize risks and reduce costs. For example , in September 2019, the Imperial and Alberta Machine Intelligence Institute (Amii) collaborated to develop machine learning and artificial intelligence ( AI) capabilities for the oil and gas industry to increase the protection of its workers and reduce environmental impacts. Similarly, Dataiku Technology and Schlumberger formed a partnership in December 2019 to build and deploy artificial intelligence solutions throughout oil and gas operations. However, fluctuating crude oil process Low crude prices are axiomatic and will continue at least for next one year, which will affect the demand of the various services in the oilfield services market.
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The regional analysis of global Oilfield Equipment Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. In view of the increasing unconventional output of hydrocarbons in the region, North America is expected to dominate the global oilfield equipment rental market. The area is a new swing producer in global oil markets due to the boom in shale production and deep-water exploration and production in the Gulf of Mexico. Exploration and development activities in the region are also expected to gain traction with increased capital expenditure by major oil companies. Both of these factors are expected to drive the North American oilfield equipment rental market.
Major market player included in this report are:
Superior Energy Services, Inc.
Oil States International, Inc.
Weatherford International, PLC
Parker Drilling Company
Seventy Seven Energy, Inc.
Basic Energy Services, Inc.
Key Energy Services, Inc.
John Energy, Ltd.
Circle T Service & Rental, Ltd.
Ensign Energy Services, Inc.
Kit Oil & Gas
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Field Production Machinery
Pumps and Valves
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Rest of the World
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Key questions answered in the Polypropylene and Polypropylene Composites Market report are:
How does a global company acquire markets?
What are its core strategies and policies?
What factors will influence the chemical market over the forecast period?
What are the factors driving and restraining the market for chemicals?
What are the leading competitors in the global market?
Which region is growing at a higher pace in the global market?’
This report covers aspects of the regional analysis market.
The report includes data about North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
This report analyzes current and future market trends by region, providing information on product usage and consumption.
Reports on the market include the growth rate of every region, based on their countries over the forecast period.
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What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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