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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 To Know More About Europe Oilfield Equipment Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/europe-oilfield-equipment-market Drilling segment was the leading product segment with revenue share exceeding 65% in 2014. Key ...

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. To Know More About Oilfield Equipment Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/oilfield-equipments-market 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...