Europe Oilfield Equipment Market Survey and 2022 Future Outlook

Horizontal and directional drilling activities are expected to drive revenue growth over the forecast period. In these processes, the well is turned horizontal or to a specific target or location.

The European Oilfield Equipment Market is expected to reach USD 18.71 billion by 2022, according to a new report by Grand View Research, Inc.

These flexible drilling techniques have already emerged as a separate growth industry in North America and are now expected to gain importance in other regions including Europe.

Declining crude oil prices have been a major factor inhibiting the regional oilfield equipment market in the recent past. Stable crude oil prices in the near future is expected to help in oilfield equipment industry’s recovery

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Drilling segment was the leading product segment with revenue share exceeding 65% in 2014. Key factors which are expected to drive drilling machinery segment include technological advancements in drilling techniques, increasing demand for horizontal & directional drilling and use of digital services in the sector. Drilling is also expected to witness the highest growth of 1.9% from 2015 to 2022.

Top Players of Europe Oilfield Equipment Market:

Some major companies operating in the regional market include Zenith Oilfield Technology, SBS Oilfield Equipment GmbH, Atlas Copco, Schoeller-Bleckmann Oilfield Technology GmbH, Foster Wheeler AG, KSB AG, Sandvik AB, Vallourec, Sulzer Limited, Technip SA, and Tenaris SA.

Market Segmentation of Europe Oilfield Equipment Market:

Europe Oilfield Equipment Market Segmented on the basis of Product and Region.

    Drilling equipment
    Pumps & valves
    Field production machinery

By Region:

    UK
    Norway
    Russia
    Rest of Europe (RoE)

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