Global Oilfield Crown Block Market Forecasts 2019-2023 – Rise in Unconventional Drilling Activities Spur Growth (~6% CAGR) – ResearchAndMarkets.com

The "Global Oilfield Crown Block Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.

The oilfield crown block market will register a CAGR of almost 6% by 2023.

The increase in onshore and offshore oil and gas drilling projects, as well as deepwater and ultra-deepwater Billing activities following the increase in global crude oil prices, has encouraged oil and gas companies to invest more in oil and gas projects.

The increase in investments by these companies is attributed to the higher levels of profits that they can earn when global crude oil prices are high. The increase in drilling activities, in turn, leads to a rise in the demand for oil and gas drilling rigs. This, in turn, increases the demand for rig components and equipment.

Rise in unconventional drilling activities

Shale is a low-permeability sedimentary rock formation, which contains trapped oil and gas inside. Shale rocks are a good source of where the structure of the rocks ensures that the oil or gas is not lost through any cracks. Harness oil and gas from shale involves the use of horizontal drilling and hydraulic fracturing.

Volatility in global crude oil price

Fluctuations in crude oil prices have an immediate effect on the performance and profitability of upstream oil and gas players. Thus, E&P projects are executed only when the revenue generated is high enough for the oil and gas companies to make sufficient profits. Therefore, any uncertainty in global crude oil prices is reflected in the form of lower investments in E&P projects and will have a negative impact.

Competitive Landscape

The market appears to be fairly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.

Key Players

• American Block Inc.
• Chengdu Zhonghang Machinery Co. Ltd.
• MHWirth
• Puyang Sida Petroleum Machinery Co. Ltd.
• The Crosby Group

Topics Covered

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2018
• Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY APPLICATION

• Comparison by application
• Onshore - Market size and forecast 2018-2023
• Offshore - Market size and forecast 2018-2023

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

• Geographic comparison
• North America - Market size and forecast 2018-2023
• MEA - Market size and forecast 2018-2023
• APAC - Market size and forecast 2018-2023
• Europe - Market size and forecast 2018-2023
• South America - Market size and forecast 2018-2023
• Key leading countries

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

• Increase in upstream deepwater and ultra-deepwater projects
• Advances in oilfield crown block-associated technologies
• Declining cost of raw materials

PART 12: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive scenario

PART 13: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• American Block Inc.
• Chengdu Zhonghang Machinery Co. Ltd.
• MHWirth
• Puyang Sida Petroleum Machinery Co. Ltd.
• The Crosby Group

For more information about this report visit https://www.researchandmarkets.com/r/i4tsdk

View source version on businesswire.com: https://www.businesswire.com/news/home/20190418005280/en/