Transparency Market
Research
Oilfield Equipment Market - Global and U.S. Industry Analysis, Size, Share, Growth,
Trends and Forecast, 2012 - 2018
Published Date
2013-07-09
73 Page Report
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Press Release
Increasing Oil Refining Activities to Drive the Global Oilfield
Equipment Market to US$117.37 Billion by 2018
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Oilfield Equipment Market
REPORT DESCRIPTION
According to a recently released research report by Transparency Market Research (TMR), the global oilfield
equipment market is estimated to grow at a 3.8% CAGR between the years 2012 and 2018. TMR, a U.S.based market research company, states in its report that the global oilfield equipment market, which had a
market value worth US$93.74 billion in 2012, will report a market value worth US$117.37 billion by 2018.
This report is available for sale on the company website.
As per this market research report, the global oilfield equipment market is mainly propelled by greater oil
extraction activities and rising oil refining activities as a result of high demand for oil from all across the
globe and increasing regional consumption of oil. Oilfield equipment is used in offshore and onshore oil
extraction fields. Mechanical drilling through rock and soil in order to reach the reservoir of crude oil is
carried out with the help of drilling equipment. Rig components and drilling rigs are integral parts of drilling
equipment. Rig components include oil country tubular goods (OCTG) and drill bits. Tubes and pipes such
as casing, tubing, and drill pipes are some commonly used oil country tubular goods. In 2010, the
worldwide demand for oilfield drilling equipment rose to US$87.60 billion from US$84.25 billion in 2009.
Browse the full Oilfield Equipment Market report at...