Oil and gas upstream equipment market, The increase in oil rig count is notably driving the market - Technavio

NEW YORK, July 13, 2022 -- The Oil and Gas Upstream Equipment Market size is expected to grow by USD 39.82 million at a CAGR of over 3.57% during the forecast period. The market is segmented by application (exploration and drilling, completion and procedure, and others) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). One of the key factors driving the global oil and gas upstream equipment industry growth is the increase in oil rig count. 

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Key Market Dynamics

One of the major market trends for oil and gas upstream equipment that is anticipated to have a beneficial effect on the industry in the coming years is the increase in shale industry investments. Chevron's investment in the US shale business is anticipated to rise. Shale development is expected to receive an investment of roughly USD 4.3 billion, with the majority of that money going to the Permian basin in Texas and New Mexico. To spur production development, other businesses, like ConocoPhillips and ExxonMobil, are also boosting their stakes in the shale industry. These expenditures will assist market expansion in the upcoming years. The uncertainty brought on by low crude oil prices is one of the major obstacles to the growth of the global oil and gas upstream equipment business.

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Major Oil and Gas Upstream Equipment Companies:

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.   

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Aker Solutions ASA
• Archer Ltd.
• Atlas Copco AB
• AXON Pressure Products Inc.
• Dril Quip Inc.
• Evolution Oil Tools Inc.
• Flowserve Corp.
• Forum Energy Technologies Inc.
• General Electric Co.
• Geometrics Inc.
• Halliburton Co.
• Helmerich and Payne Inc.

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Oil And Gas Upstream Equipment Market Application Outlook

During the anticipated period, the exploration and drilling segment will significantly increase its market share in the upstream equipment market for oil and gas. The market potential for equipment used in exploration operations is anticipated to expand in the anticipated years due to the large increase in investments in offshore wells that need extensive usage of high-tech surveying equipment.

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segments and their impact in coming years. 

Oil And Gas Upstream Equipment Market Geography Outlook

North America will account for 39% of market growth. The two most important markets in North America for oil and gas upstream equipment are Canada and Mexico. The market in this region will expand more quickly than the market in Europe. The area has resumed its deep and ultra-deep oil and gas projects in the GoM, which will support the expansion of the oil and gas upstream equipment market in North America throughout the projection period as crude oil prices gradually stabilize.

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

• 5.1 Market segments
• Exhibit 24: Chart on Application - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

• 5.2 Comparison by Application
• Exhibit 26: Chart on Comparison by Application
• Exhibit 27: Data Table on Comparison by Application

• 5.3 Exploration and drilling - Market size and forecast 2021-2026
• Exhibit 28: Chart on Exploration and drilling - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Exploration and drilling - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Exploration and drilling - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Exploration and drilling - Year-over-year growth 2021-2026 (%)

• 5.4 Completion and procedure - Market size and forecast 2021-2026
• Exhibit 32: Chart on Completion and procedure - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Completion and procedure - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Completion and procedure - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Completion and procedure - Year-over-year growth 2021-2026 (%)

• 5.5 Others - Market size and forecast 2021-2026
• Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.6 Market opportunity by Application
• Exhibit 40: Market opportunity by Application ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview
• Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 42: Chart on Market share by geography 2021-2026 (%)
• Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 44: Chart on Geographic comparison
• Exhibit 45: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 APAC - Market size and forecast 2021-2026
• Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.6 South America - Market size and forecast 2021-2026
• Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026
• Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 Germany - Market size and forecast 2021-2026
• Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.10 Canada - Market size and forecast 2021-2026
• Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)

• 7.11 China - Market size and forecast 2021-2026
• Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.12 Mexico - Market size and forecast 2021-2026
• Exhibit 82: Chart on Mexico - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on Mexico - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on Mexico - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on Mexico - Year-over-year growth 2021-2026 (%)

• 7.13 Japan - Market size and forecast 2021-2026
• Exhibit 86: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 87: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 88: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.14 Market opportunity by geography
• Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 91: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 93: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 94: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 95: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 96: Matrix on vendor position and classification

• 10.3 Aker Solutions ASA
• Exhibit 97: Aker Solutions ASA - Overview
• Exhibit 98: Aker Solutions ASA - Business segments
• Exhibit 99: Aker Solutions ASA - Key offerings
• Exhibit 100: Aker Solutions ASA - Segment focus

• 10.4 Archer Ltd.
• Exhibit 101: Archer Ltd. - Overview
• Exhibit 102: Archer Ltd. - Business segments
• Exhibit 103: Archer Ltd. - Key offerings
• Exhibit 104: Archer Ltd. - Segment focus

• 10.5 Dril Quip Inc.
• Exhibit 105: Dril Quip Inc. - Overview
• Exhibit 106: Dril Quip Inc. - Business segments
• Exhibit 107: Dril Quip Inc. - Key offerings
• Exhibit 108: Dril Quip Inc. - Segment focus

• 10.6 General Electric Co.
• Exhibit 109: General Electric Co. - Overview
• Exhibit 110: General Electric Co. - Business segments
• Exhibit 111: General Electric Co. - Key news
• Exhibit 112: General Electric Co. - Key offerings
• Exhibit 113: General Electric Co. - Segment focus

• 10.7 Halliburton Co.
• Exhibit 114: Halliburton Co. - Overview
• Exhibit 115: Halliburton Co. - Product / Service
• Exhibit 116: Halliburton Co. - Key news
• Exhibit 117: Halliburton Co. - Key offerings

• 10.8 NOV Inc.
• Exhibit 118: NOV Inc. - Overview
• Exhibit 119: NOV Inc. - Business segments
• Exhibit 120: NOV Inc. - Key news
• Exhibit 121: NOV Inc. - Key offerings
• Exhibit 122: NOV Inc. - Segment focus

• 10.9 Ramboll Group AS
• Exhibit 123: Ramboll Group AS - Overview
• Exhibit 124: Ramboll Group AS - Business segments
• Exhibit 125: Ramboll Group AS - Key offerings
• Exhibit 126: Ramboll Group AS - Segment focus

• 10.10 Schlumberger Ltd.
• Exhibit 127: Schlumberger Ltd. - Overview
• Exhibit 128: Schlumberger Ltd. - Business segments
• Exhibit 129: Schlumberger Ltd. - Key offerings
• Exhibit 130: Schlumberger Ltd. - Segment focus

• 10.11 Siemens AG
• Exhibit 131: Siemens AG - Overview
• Exhibit 132: Siemens AG - Business segments
• Exhibit 133: Siemens AG - Key news
• Exhibit 134: Siemens AG - Key offerings
• Exhibit 135: Siemens AG - Segment focus

• 10.12 Weatherford International Plc
• Exhibit 136: Weatherford International Plc - Overview
• Exhibit 137: Weatherford International Plc - Business segments
• Exhibit 138: Weatherford International Plc - Key offerings
• Exhibit 139: Weatherford International Plc - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 140: Inclusions checklist
• Exhibit 141: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 142: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 143: Research methodology
• Exhibit 144: Validation techniques employed for market sizing
• Exhibit 145: Information sources

• 11.5 List of abbreviations
• Exhibit 146: List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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