SAN FRANCISCO, California, September 28, 2015 /PRNewswire/ --
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. 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. Advancements in drilling techniques such as horizontal and directional drilling are expected to further boost the overall market demand in future.
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Browse full research report with TOC on "Oilfield Equipment Market Analysis By Product (Drilling Equipment, Pumps & Valves, Field Production Machinery) And Segment Forecasts To 2020" at: http://www.grandviewresearch.com/industry-analysis/oilfield-equipments-market
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. 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.
Further key findings from the report suggest:
Grand View Research has segmented the Oilfield Equipment market on the basis of product and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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Contact:
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Grand View Research, Inc
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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