Oilfield equipment are widely used in the oil and gas industry for excavation and drilling purposes. Crude oil has been the base for various fuel forms that are used by people everyday across the globe. Thus, in order to harvest oil from subterranean places, various types of oilfield equipment are in high demand. Oilfield trucks, oilfield drilling rigs, on-shore & off-shore drilling rigs, well control equipment, pumping units are some of the commonly used oilfield equipment. Technological advancements in oilfield equipment, rising oil and gas production activities, and increasing extraction of shale gas are key factors boosting global market revenue growth. Increasing investments, rising demand for natural gas, and natural gas for power and energy worldwide are some other factors supporting market growth. In addition, increasing efforts by market players to launch products with enhanced safety, security, and speed at low costs is expected to market growth throughout the forecast period.
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Key market participants include:
Schlumberger Ltd., Halliburton Company, Zenith Oilfield Technology Ltd., Abbot Group Ltd., FMC Technologies Inc., Baker Hughes Company, Weatherford International PLC, Aker Solutions, NOV Inc., and Transocean Ltd.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data has segmented the global oilfield equipment market on the basis of product type, application, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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