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Oil and Gas Drilling Equipment Manufacturing - Industry Market Research Report

  • November 2016
  • -
  • Ibisworld
  • -
  • 38 pages

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Slow dig: As commodity prices increase, demand will follow suit



Abstract

Oil and Gas Drilling Equipment Manufacturing

The Oil and Gas Drilling Equipment Manufacturing industry has greatly benefited from a resurgence in the oil and gas extraction sector in the United States especially in the first-half of the five-year period. The emergence of hydraulic fracturing technology and horizontal drilling techniques significantly boosted demand for industry products during that period. However, the decline in oil prices beginning late 2014 impacted the industry significantly. Demand is expected to recover over the next five years, as the United States continues to emphasize on energy self-sufficiency. Trade plays an important role in the industry, with exports accounting for nearly one-third of industry revenue. Over the next five years, as global oil and gas companies rebound from the downturn and explore for and develop resources, demand for industry exports is anticipated to increase.


This industry manufactures oil and gas drilling machinery and equipment.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.



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