Global Oilfield Equipment Market Growth Survey 2021 with Top Countries Data And Covid-19 Analysis Research Reports, Industry Size, In-Depth Qualitative Insights, Explosive Growth Opportunity, Regional Analysis

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Global “Oilfield Equipment Market” research report 2021 analyzed in detail all the vital data to frame tactical business judgments and propose strategic growth plans. The Oilfield Equipment market growth is expected to register a CAGR of Growing rate% during the forecast period.This report offers a comprehensive insight into the development policies and plans in addition to manufacturing processes and cost structures. Also report studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

The report gives - Who are the global key players in this Oilfield Equipment market? What are their company profile, their product information, and contact information? What Was the Global Market Status of Oilfield Equipment Market? What Was Capacity, Production Value, Cost and PROFIT of Oilfield Equipment Market?

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Short Description About Oilfield Equipment Market 2021:

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 and 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 2021, the upstream investment is expected to grow significantly and bring several projects online, thereby, driving the market.

In response to the downturn in crude oil prices in the past few years, the oil and gas companies not only reduced their activity level but also implemented sweeping efficiency programs to lower the operating cost. Operating cost in Norway has reduced by 30% during 2014-2021. Drilling an exploratory well in Norway’s offshore was half in 2021, as compared to 2014. The unit operating costs in the UK Continental Shelf has reduced by around 50% in the past two to three years. Other countries, such as United States has also witnessed similar trends. The lower operating cost coupled with rising crude oil price is expected to make several marginal projects economically viable during the forecast period.

North America is one of the Largest Market
North America is one of the largest market for oilfield equipment, driven by the increasing EandP activity in the US. The US rig count has increased by 9% in the first four months of 2021 and accounts for one of the largest share in the global active rig count. Hydraulic fracturing is the major reason behind the success. Also, the share of North America in global crude oil production has increased from 18.5% in 2001 to around 21% in 2021, which has resulted in increased demand for oilfield equipment in the region. Further, as the drilled wells are ready for production, the demand for oilfield equipment is expected to increase.

On the other hand, Mexico’s crude oil production has been on decline since 2005 and to address the decline, the government had introduced energy reforms in 2014 ending the 75-year monopoly of PEMEX, a state owned oil and gas company. The Mexican government has offered several blocks for exploration in the past few years. The liberalization of the upstream sector has led to entering of 70 oil and gas operators in the country after several biddings for blocks. This is expected to create ample opportunity for oilfield equipment market in the long run.

Norway’s Oil Industry Back on its Feet
The oil and gas industry in Norway has started recovering from the decline in crude oil production, which started since the start of the century. But in 2014, the trend changed, and production increased. Spending of oil companies increased for the first time in 2021 since crude oil price collapse in 2014. Further, the production is expected to ramp up in Norway after the Johan Sverdrup field, one of the major fields, starts production in 2020. Further, in the UK several projects operated by Shell, Alpha Petroleum, and other companies are expected to come online during the forecast period. As a result, increase in oil and gas activity in the region is expected to drive the demand for oilfield equipment.

The major players include - Halliburton Company, Schlumberger Limited, Baker Hughes A GE Co., Weatherford International plc, Tenaris SA, TMK Ipsco Enterprises Inc., National Oilwell Varco, Inc., Vallourec SA, Aker Solutions ASA, Stabil Drill, among others.

Get a Sample PDF of Oilfield Equipment Market 2021

The global Oilfield Equipment market covers the vision of competitor analysis by product types, market share, applications, sales, and revenue.

Oilfield Equipment Market Report covers the Top Key-players 2021:-

● Schlumberger Limited
● Weatherford International plc
● Baker Hughes A GE Co
● Halliburton Company
● Tenaris SA
● TMK Ipsco Enterprises Inc.
● National Oilwell Varco
● Inc.
● Vallourec SA
● Aker Solutions ASA
● Stabil Drill

With tables and figures helping analyze the worldwide Global Oilfield Equipment market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

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The Global Oilfield Equipment market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.

This Oilfield Equipment Market Research/analysis Report Contains Answers to your following Questions

● What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Oilfield Equipment Industry?
● What Was the Global Market Status of Oilfield Equipment Market? What Was Capacity, Production Value, Cost and PROFIT of Oilfield Equipment Market?
● What Are Projections of Global Oilfield Equipment Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply, and Consumption? What about Import and Export?
● What Is Oilfield Equipment Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
● What Is Economic Impact On Oilfield Equipment Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
● Which Manufacturing Technology is used for Oilfield Equipment? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
● Who Are the Global Key Players in This Oilfield Equipment Market? What are Their Company Profile, Their Product Information, and Contact Information?
● What Is the Current Market Status of the Oilfield Equipment Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Oilfield Equipment Market by Taking Applications and Types in Consideration?
● What Are Market Dynamics of Oilfield Equipment Market? What Are Challenges and Opportunities?

Inquire more and share questions if any before the purchase on this [email protected]https://www.360marketupdates.com/enquiry/pre-order-enquiry/12886995

Highlighted points of Oilfield Equipment Market Report:

● Covers the varying market dynamics of the industry.
● In-depth analysis of market risks, opportunities, limitations, and growth of the market.
● Includes market driving and restraining factors.
● Participants profiles along with product description, overview, and business data.
● Include details of five years of forecast analysis by types, regions, and applications.

Key Developments in the Oilfield Equipment Market:

● Major developments in 2017 covered in the report

● And the latest major developments in 2018 covered in the report

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Reasons to Purchase Oilfield Equipment Market Report:

● The report analyses how the stringent emission control norms will drive the global Oilfield Equipment market.
● Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
● Study on the product type that is expected to dominate the market.
● Study on the regions that are expected to witness the fastest growth during the forecast period.
● Identify the latest developments, market shares and strategies employed by the major Oilfield Equipment market players.
● 3 months analyst support along with the Market Estimate sheet (in excel).

Finally, the report Global Oilfield Equipment Market 2021 describes the Oilfield Equipment industry expansion game plan, the Oilfield Equipment industry knowledge supply, appendix, analysis findings, and the conclusion.

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