Sep 21, 2018   SOURCE: BusinessWire

Oil Field Equipment Markets to 2024: CAGR to Grow at 3.7% - Oil Fields Located Far Away from Readily Available Sources of Electricity is Restraining Growth - ResearchAndMarkets.com

The "Oil Field Equipment Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024" report has been added to ResearchAndMarkets.com's offering.

The report predicts the global oil field equipment market to grow with a CAGR of 3.7% over the forecast period of 2018-2024.

Technological advancements in oil field equipment for improved recovery and better performance along with high production rate drives the growth of the oil field equipment market. In addition, growth in the oil and gas is anticipated to especially be strong in the developing countries where improving infrastructure will contribute to more drilling activity.

Moreover, advancement in drilling techniques are further anticipated to boost the growth of the oil field equipment market. However, some of the oil fields are located far away from the readily available sources of electricity hence before starting to drill there should be enough amount of electricity to power the equipment. This in turn is restraining the growth of the oil field equipment market.

Furthermore, the prices of crude oil are increasing and the upstream investment is projected to grow significantly and bring several projects online creating several growth opportunities for the key players in the oil field equipment market.

Companies Profiled

  • Eni
  • FMC Technologies
  • Aker Solutions
  • Cameron International
  • Baker Hughes
  • Schlumberger
  • Halliburton
  • Weatherford International
  • National Oilwell Varco Inc.

Key Topics Covered

1. Preface

2. Executive Summary

3. Global Oil Field Equipment Market Overview

4. Oil Field Equipment Market Macro Indicator Analysis

5. Global Oil Field Equipment Market by Product

6. Global Oil Field Equipment Market by Application

7. Global Oil Field Equipment Market by Region 2018-2024

8. Company Profiles and Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/research/ttrrz5/oil_field?w=4