Oil and Gas Upstream Equipment Market

The upstream oil and gas operations and production helps in identifying deposits, drill wells, and recover raw materials from underground. The upstream oil and gas production is performed by the companies that extract or produce raw materials. Oil and gas upstream equipments are used in several upstream operations including drilling, exploration, well interferences, well completion, abandonment, and production.

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The factors driving the growth of the global Oil and Gas Upstream Equipment market include the rise in the rig count of oil and stabilization in the prices of crude oil, which will lead to an increase in the drilling and exploration projects. In addition to this, the rising investments by the upstream oil and gas industry players in the shale industry as a result of a surge in demand for renewable energy, is further increasing the demand for the oil and gas upstream equipment in the market worldwide. Moreover, growth in the drilling and exploration projects will pave the way for the oil and gas equipment in the market during the forecast period. Several advanced technologies and innovation have replaced the traditional drilling and completion operations in order to improve the production of upstream oil and gas. The growing business models and services that help in reducing the cost of operations in the upstream oil & gas is leading to an increase in the production in the upstream industry, thereby surging the demand of the market. The factors restraining the growth of the global oil and gas upstream equipment market include the uncertainties related to the prices of crude oil across the world.

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Based on the production site, the onshore segment is anticipated to grow at a higher CAGR during the forecast period owing to the increase in the investments for the exploration and drilling activities in the production site. The onshore production site provides natural stability and have the ability to recover faster once the oil prices start increasing again, leading to an increase in such production sites, thus further driving the demand for the oil and gas upstream equipment.

Based on the application, the exploration & drilling segment is expected to grow at a higher CAGR over the forecast period owing to the high demand for the oil and gas upstream equipment in this application as a result of an increase in the exploration and drilling activities and projects worldwide.

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Based on the region, North America is anticipated to grow at a higher CAGR during the forecast period due to the rise in the investments in shale oil production and high capital expenditure.
Various notable players operating in the global oil and gas upstream equipment market include Aker Solutions, General Electric, Halliburton, Weatherford, National Oilwell Varco, DowDuPont Inc., ABB, and Schlumberger among others.

Key Developments:

• • In 2018, Aker Solutions collaborated with Siemens to develop digital offerings in operations, engineering, and services. Through this collaboration, the company is joining its knowledge in upstream oil and gas projects and the offerings of Siemens in domain-specific digitalization.
  • In 2017, General Electric completed the combination of GE’s oil and gas business with Baker Hughes. Through this combination, the new portfolio created new sources of value, enhancing the project economies and productivity by the use of integrated equipment and service offerings.

The Global Oil and Gas Upstream Equipment market is segmented by production site, application, and key regions. Based on the production site, the market is segmented into Offshore and Onshore. Based on the application, the market is segmented into Completion & Production, Exploration & Drilling, and Others.

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Key questions answered in this research report:

• • At what pace is the global oil and gas upstream equipment market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global oil and gas upstream equipment market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global oil and gas upstream equipment market?
  • What are the various application areas of oil and gas upstream equipment, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
  • Which production site generated maximum revenues in 2019 and identify the most promising production sites during the forecast period?

Market Segmentation

Global Oil and Gas Upstream Equipment Market by Production Site

• • Offshore
  • Onshore

Global Oil and Gas Upstream Equipment Market by Application

• • Completion & Production
  • Exploration & Drilling
  • Others

Global Oil and Gas Upstream Equipment Market by Region

• • North America Oil and Gas Upstream Equipment Market
    (Option 1: As a part of the free 25% customization)
    • North America Oil and Gas Upstream Equipment Market by Production Site
    • North America Oil and Gas Upstream Equipment Market by Application
    • United States of America (US) Oil and Gas Upstream Equipment Market All-Up
    • Canada Oil and Gas Upstream Equipment Market All-Up
  • Europe Oil and Gas Upstream Equipment Market
    (Option 2: As a part of the free 25% Customization)
    • Europe Oil and Gas Upstream Equipment Market by Production Site
    • Europe Oil and Gas Upstream Equipment Market by Application
    • United Kingdom (UK) Oil and Gas Upstream Equipment Market All-Up
    • Germany Oil and Gas Upstream Equipment Market All-Up
    • Spain Oil and Gas Upstream Equipment Market All-Up
    • France Oil and Gas Upstream Equipment Market All-Up
    • Rest of Europe All-Up Oil and Gas Upstream Equipment Market All-Up
  • Asia-Pacific Oil and Gas Upstream Equipment Market
    (Option 3: As a part of the free 25% Customization)
    • Asia-Pacific Oil and Gas Upstream Equipment Market by Production Site
    • Asia-Pacific Oil and Gas Upstream Equipment Market by Application
    • China Oil and Gas Upstream Equipment Market All-Up
    • Japan Oil and Gas Upstream Equipment Market All-Up
    • India Oil and Gas Upstream Equipment Market All-Up
    • Rest of APAC Oil and Gas Upstream Equipment Market All-Up
  • ROW Oil and Gas Upstream Equipment Market
    (Option 4: As a part of the free 25% Customization)
    • ROW Oil and Gas Upstream Equipment Market by Production Site
    • ROW Oil and Gas Upstream Equipment Market by Application
    • Brazil Oil and Gas Upstream Equipment Market All-Up
    • Saudi Arabia Oil and Gas Upstream Equipment Market All-Up
    • South Africa Oil and Gas Upstream Equipment Market All-Up
    • UAE Oil and Gas Upstream Equipment Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Oil and Gas Upstream Equipment Market All-Up

Leading market players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Aker Solutions
  • General Electric
  • Halliburton
  • Weatherford
  • National Oilwell Varco
  • DowDuPont Inc.
  • ABB
  • Schlumberger