The Oilfield equipment market is vast,
mainly providing services in the form of replacement parts, brakes rims
and drums, rods and pipes, wear plates, and valves to name a few. Since
the demand for oil is inelastic in nature, the oilfield equipment
market continues to have a positive growth. Majority of the market is
occupied by the Middle Eastern region which enjoys the largest share in
terms of oil availability, followed by Europe which has invested heavily
in imports.
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The supply of oil has decreased in
case of both OPEC and non-OPEC countries offsetting the demand of oil
equipments. However, it is estimated that with improvement in growth of
the U.S. economy and improvement in conditions of Saudi Arabia, the
demand for oil equipment will rise. The biggest advantage for the
equipment market is that the oil market is independent in nature and
there is always scope for better business.
Asia Pacific has been the major buyer
of oilfield equipments in 2012, followed by countries like Russia and
Brazil. These countries have exhibited an increased growth rate. The
non-OECD market is expected to grow, which will boost the oilfield
equipment market.
The market is also likely to evolve
with a growth in technology. However, weak macro environment factors
restrict the potential of the oilfield equipment market. The forecasted
growth rates of several countries like the U.S. and Saudi Arabia had to
be revised due to the volatile nature of the economy. This has a
cascading effect on the demand for oilfield equipments as these nations
are also the importers and manufacturers. Also, the inability to
determine the statistical demand for oil in China has left the equipment
market incapable in providing its services to China’s expanding market.
The oil field equipments market can
find opportunities in the Asia Pacific region due to its increased
consumption in the past few years. Focusing on non-OECD market can also
prove beneficial for this market. Some of the major players in the
oilfield equipment market are Schlumberger, Saipem, and Halliburton.
This research report analyzes this
market depending on its market segments, major geographies, and current
market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints.
It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing
market players and new entrants along with detailed value chain
analysis.
Reasons for Buying this Report
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- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
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