Million Insights
Market Research Released A New Research Report On Global Oilfield Equipment
Market - Forecast Up To 2025. Report Provide Overview Of Top Key Players, Share
Analysis, Size, Stake, Progress, Trends And Their Strategic Profiling In The
Market, Comprehensively Analyzing Their Core Competencies, And Drawing A
Competitive Landscape For The Market.
Pune, India - Oilfield Equipment Market during
the forecast period is expected to cover a market size of USD 97.34 billion in
2013. Companies are investing in R&D for extracting oil and gas from the
reservoirs using oilfield equipment. The technology is gaining momentum as a
result of offshore activities in Gulf of Mexico in North America and South
China Sea spread across countries such as Vietnam, Thailand & China. One of
the major driver of this market is exploration of unconventional oil and gas
resource.
Exploration and extraction of unconventional reserves are
not economical, the processes have to be carried out by these equipment, so
this will result in the overall growth of the market. The key players are
likely to invest more to improve operations related to crude oil. The
improvement can be achieved with developing tools of higher efficiency so as to
give better output with safer working environment.
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visit @ https://www.millioninsights.com/industry-reports/oilfield-equipment-market/request-sample
The Asia Pacific region significantly is the major prospect
to improve the operations standard in energy supply with lower import rates.
Investment into technology development is driving the market so as to ensure
safe and secure ways to derive the oil products both from onshore and offshore
operations. Over the period of 2017-2020 the demand for technological shift on
the onshore operations can witness the growth CAGR of 4%.
Product segment included in this report are pumping
equipment’s, valves, drilling equipment, offshore and onshore equipment’s like
coiled tube and other automated tools. From exploration to extraction to supply
for end use this equipment are used in many operations.
Drilling equipment occupied the market share of 73.65% of
the total market volume. This equipment is supposed to be the major equipment
used are for exploring the reservoirs. The storage and transportation of crude
oil is the major task for the players engage in this industry because of its
toxicity in nature also the huge capital investment. Stringent government rules
are ensured in order to protect and safeguard and secure the environment by
developed countries.
Efficient transportation using source of energy is required
for the pipeline mode in order to deliver the products to the end customer
safely. In this way the pump and valves comes into picture as they are
secondary segment of equipment in the market and are being used for the
pipeline transport system. The treatment of crude requires other set of
equipment to ensure the delivery of pure product before it is delivered to
refineries to extract derivatives or to end users. One of the major segment
which is of main concern to the industry is waste management.
To Browse Complete
Report visit @ https://www.millioninsights.com/industry-reports/oilfield-equipment-market
This report segments the global Oilfield Equipment Market on
the basis of Types are:
•
Drilling
Equipment
•
Field
Production Machinery
•
Pumps
& Valves
•
Others
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