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Oilfield Equipment Market -Industry News, Applications and Trends!

Continuous technological advancements in tools for better performance, improved recovery rate, and higher production is expected to drive the global industry demand over the forecast period.

The Global Oilfield Equipment Market size is expected to reach USD 127.6 billion by 2020, according to a new report by Grand View Research, Inc.


Advancements in drilling techniques such as horizontal and directional drilling are expected to further boost the overall market demand in future. Drilling equipment accounted for a share of 73.65% of the overall market revenue in 2013. The product segment is expected to grow at a CAGR of 4.2% from 2014 to 2020.

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Onshore operations majorly involve use of enhanced machines and huge number of tools for better results. Others include tools and machines which are used before transportation activities. The segment is expected to grow at a significant CAGR of 3.9% from 2014 to 2020.

Top Players of Oilfield Equipment Market:

Global market is highly fragmented in nature. Major companies are Schlumberger, Baker Hughes, National Oilwell Varco, Weatherford International, Halliburton, Cameron International, Aker Solutions, and Transocean.

Market Segmentation of Oilfield Equipment Market:

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

By Product:

    Drilling Equipment
    Field Production Machinery
    Pumps & Valves

By Region:

    North America
    Europe
    Asia Pacific
    Middle East & Africa
    Latin America

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