Oilfield Equipment Market Size, Industry Chain Analysis Report 2020

The total market is estimated to increase at 12% y-o-y basis. This fortune is expected due to improvement of oil
market behavior over recent times. Exploration & production companies in oil & gas industry are shifting
towards development of other unconventional sources to inline their supply with the global market demand.
One of the other ways of using equipment are renting the technology due to increase in the off shore activities.
The entry of key players in the equipment rental segment is also a primary reason for the market drive. The
geopolitical reasons and the idea of sustainable planet can be one of the restraints for this industry to bloom
with the lack of skilled workforce.
Huge investment are being done in this segment to meet the demand of government rules. New technology
that is trending, is EOR (Enhanced Oil Recovery) to extract maximum from the reserves. Thermal recovery, gas
injection, and chemical injection are the type of EOR technology. The drift in thought of usage of green energy
may impact the market growth over the forecast period
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Product Insights
Product segment included in this report are pumping equipment’s, valves, drilling equipment, offshore and
onshore equipment’s like coiled tube and other automated tools. From exploration to extraction to supply for
end use this equipment are used in many operations.
Drilling equipment occupied the market share of 73.65% of the total market volume. This equipment is supposed
to be the major equipment used are for exploring the reservoirs. The storage and transportation of crude oil is
the major task for the players engage in this industry because of its toxicity in nature also the huge capital
investment. Stringent government rules are ensured in order to protect and safeguard and secure the
environment by developed countries.
Efficient transportation using source of energy is required for the pipeline mode in order to deliver the products
to the end customer safely. In this way the pump and valves comes into picture as they are secondary segment
of equipment in the market and are being used for the pipeline transport system. The treatment of crude
requires other set of equipment to ensure the delivery of pure product before it is delivered to refineries to
extract derivatives or to end users. One of the major segment which is of main concern to the industry is waste
management.