Oilfield Equipment Market Overview:

Oil Field Equipment Market is expected to expand at 3.5% CAGR with valuation of 1,13,214 Million USD during the forecast period 2022-2030.

Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.

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Market Segmentation

The global oilfield equipment market can be segregated on the basis of type, equipment, and region.

• On the basis of type, the global oilfield equipment market can be segregated into Pressure Flow control (BOP, Valves, Manifold), drilling (Drill Pipe, Drill Collars). Among all, the Drill Pipe segment acquires the maximum market share because of the large drilling activities offshore and onshore.
• On the basis of equipment, the global oilfield equipment market can be segregated into Valves, Field Production Machinery, Drilling Equipment, Pumps, and Others. Among all, the drilling equipment segments hold the maximum because of the rising number of drilling projects

Regional Analysis

On the basis of region, the global oilfield equipment market can be segregated into North America, Europe, Asia-Pacific, and the Middle East and Africa.

The geographical analysis of North America, Europe, Asia-Pacific, and the Middle East and Africa has been conducted. As per the analysis by Market Research Future Reports, North America dominates the market. North America holds the maximum market share. The region is excelling in rock studies activities for oil sands, shale oil, and carbonate rocks, and with several other exploration activities. Out of all of the countries, the U.S. plays the most significant role in expanding the market. On the other hand, the APAC region and the African region is likely to grow significantly in the forthcoming period. The primary factor of growth can be accredited to several activities of discovery taking place in the South China Sea, Gulf of Thailand, the Mediterranean Sea, and Egypt desert from Africa.

However, due to the outbreak of pandemic coronavirus, several regions have been adversely affected. The dynamics of the market are changed significantly due to the observation of worldwide lockdown.

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Key Players

The forefront players of the worldwide oilfield equipment market are ABB Oil, and Gas and Petrochemical Business Unit (Switzerland), Weatherford International (U.S.), G.E. Oil and Gas (U.S.), Schlumberger (U.S.), Superior Energy Services (U.S.), CJ Energy Services Ltd. (U.S.), Pioneer Energy Services Corp. (U.S.),  National Oilwell Varco, Inc. (U.S.), Basic Energy Services, Inc. (U.S.), Halliburton (U.S.),  Expro International Group Holding Ltd. (U.K.), Oilserv (UAE), Wireline Engineering Ltd. (U.K.),  SGS (Switzerland), are among others.