Global Wellhead Equipment Market 2016-2020 - Growth Aspects and Detailed Analysis of the Top Vendors: FMC Technologies, GE-Alstom Grid, Baker Hughes, Stream Flo, Weir & Aker Solutions - Research and Markets
Research and Markets has announced the addition of the "Global
Wellhead Equipment Market 2016-2020" report to their offering.
The global wellhead equipment market to grow at a CAGR of 2.91% during
the period 2016-2020.
The report covers the present scenario and the growth prospects of the
global wellhead equipment market for 2016-2020. To calculate the market
size, the report presents the vendor landscape and a corresponding
detailed analysis of the top six vendors operating in the market.
Fluctuation in operational rigs will be a key trend for market growth.
The recent downfall in the price of crude oil in the oil and gas
industry results in the decrease in rig counts globally. As the rig
count is decreasing, so has the use of wellhead equipment in the oil and
gas industry. For instance, Baker Hughes reported a decline in the
number of rotary rigs by 30 in the month of February 2016, with the
final number standing at 541.
According to the report, rise in oil and gas demand will be a key driver
for market growth. The demand for oil and gas is increasing, especially
that of gasoline, despite the decline in crude oil prices. With increase
in global oil and gas production and exploration, the wellhead equipment
market will grow according to the increase in production. Growth in
demand and continued production in oil and gas will drive large
investment in state of the art technology to increase the efficiency of
well completion, thus ensuring and enhancing oil production. With the
decline of easy oil all over the world, well completion activities, like
acidizing and fracturing, will ensure supply-demand balance by enhancing
the access to oil and gas in tight formations and previously
inaccessible formations.
Further, the report states that political instability poses a major
challenge to the well completion market. The Middle East, which is a
major region witnessing political turmoil, produces more the 28% of the
world oil. Political Turmoil has adverse effects on the global wellhead
market as it affects the flow of funds or investments for wellheads due
to insufficient capital returns. Expropriation of well completion
equipment in cases of civil disorder is also a major cause for loss of
capital. Repatriation of skilled personnel due to political instability
also poses a threat to the well completion market. Political risks, like
foreign war, expropriation, fiscal changes, intermittency in price,
production restrictions, devaluation, embargoes, etc. may be devised by
political instability and these adversely affect the investments and the
well completion market.
Key vendors
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FMC Technologies
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GE-Alstom Grid
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Baker Hughes
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Stream Flo
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Weir
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Aker Solutions
Other prominent vendors
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Cameron
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Drill Quip
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National Oil Well Varco
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Sensus
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Shanghai Wellhead Equipment Manufacture
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Wellhead System
For more information about this report visit http://www.researchandmarkets.com/research/bhj2x5/global_wellhead
View source version on businesswire.com: http://www.businesswire.com/news/home/20160922005780/en/
Copyright Business Wire 2016
Source: Business Wire
(September 22, 2016 - 10:01 AM EDT)
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