Dublin, Sept. 28, 2023 (GLOBE NEWSWIRE) -- The "Oilfield Equipment: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global Oilfield Equipment market, valued at approximately $118.4 billion in 2022, is projected to grow to $148.1 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 2.8% during the forecast period of 2022-2030. The market analysis provides in-depth insights into the trends, geographic markets, and significant competitors within the industry.
Key Market Insights:
- Drilling Equipment is projected to be the largest segment with a 3% CAGR, reaching $99.6 billion by 2030.
- The U.S. Oilfield Equipment market is estimated at $32.3 billion in 2022, while China is forecasted to reach $29 billion by 2030 with a CAGR of 4.8% during the forecast period.
- Japan, Canada, and Germany are other noteworthy geographic markets, each with their respective growth projections.
- The market analysis covers historical sales data, current trends, and future projections, offering a comprehensive overview of the global Oilfield Equipment market.
Market Scope:
The provided information offers a comprehensive overview of the global Oilfield Equipment market's scope and dynamics from 2014 to 2030. It covers annual sales figures, percentage Compound Annual Growth Rates (CAGR), and various product categories within the Oilfield Equipment sector.
Key Market Trends & Drivers:
- Oil price trends significantly impact upstream activities and demand for Oilfield Equipment.
- Redevelopment of mature oil wells and the rise in shale production activity create opportunities.
- Offshore exploration and production projects drive the need for specialized Oilfield Equipment.
- Technological advancements, including AI, IoT, and analytics, transform the industry.
- Challenges in the Oilfield Equipment market include supply chain disruptions and geopolitical tensions.
Select Competitors (Total 46 Featured)
- Abbott Oil Services Limited
- Aker Solutions ASA
- Baker Hughes, a GE company
- Cameron - Schlumberger
- Eni SpA
- Halliburton
- National Oilwell Varco, Inc.
- Schlumberger Ltd.
- Transocean Ltd.
- Weatherford International Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 296 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $118.4 Billion |
| Forecasted Market Value (USD) by 2030 | $148.1 Billion |
| Compound Annual Growth Rate | 2.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/kze8oq
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