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World Oilfield Equipment

Global demand to rise 3.7% annually through 2016
Worldwide demand for oilfield equipment is forecast to increase 3.7 percent per annum through 2016 to $106 billion, an improvement from the 2006-2011 pace. Demand gains will be fueled by a substantial uptick in oil and gas production as the world economy distances itself from the general economic weakness surrounding the 2009 global recession. Growth in oil and gas output is expected to be especially strong in developing regions, where increasing energy requirements and improving infrastructure will contribute to more drilling activity.

Developing countries to see fastests gains in demand
Through 2016, most of the faster gains in oilfield equipment demand will occur in a variety of smaller developing countries. Among larger markets, gains will tend to be more moderate. China, which dominates demand in the Asia/Pacific region, will experience steady growth as its energy consumption continues to rise. Russia, the world’s largest energy producer, will see oilfield equipment demand grow at a below average pace, but this will represent a substantial improvement on a weak 2006-2011 performance. Growth in demand for oilfield equipment will be especially rapid in Brazil, which is expected to see a major boom in oil and gas production as a number of large discoveries from the later part of the preceding decade are developed.

The oilfield equipment market will be relatively weaker in developed regions, although North America and Europe are still expected to see improvements from the pace of the 2006-2011 period. Demand for oilfield equipment in the US will rise at about the world average as the continuing shale gas boom somewhat counteracts an overall slowdown in oil and gas production. In the UK, demand for oilfield equipment is expected to be held back by declining oilfield output, continuing the trend of the past decade. Weak demand growth will not be limited to wealthier nations, however Argentina, Mexico, and Venezuela will all be among the world’s more sluggish markets.

Equipment price increases expected to continue
The discovery of new reserves and the depletion of existing ones has led to new extraction techniques and increased complexity of drilling, raising the costs of production. Going forward, technological advancements leading to increased drilling efficiency will serve to constrain costs somewhat, but the necessity of developing new techniques to capitalize on unconventional reserves, particularly shale oil and oil sands, will continue to raise prices.

Industrialized countries to remain key producers
Global production of oilfield equipment is concentrated in larger developed economies, which possess greater capacity for manufacture of hightechnology industrial machinery. The pattern of production is substantially different from the distribution of demand, and only a few countries are net exporters. The US is by far the biggest producer, accounting for 44 percent of oilfield equipment output in 2011. Russia, China, and Canada are also major producers, but are all net importers. Although oilfield equipment manufacturing in most smaller countries is expected to grow along with demand, production of larger, more technologically intensive components is expected to remain concentrated in larger industrialized nations.


  • INTRODUCTION
  • EXECUTIVE SUMMARY
    • Table WORLD OILFIELD EQUIPMENT DEMAND BY REGION (million dollars)
  • MARKET ENVIRONMENT
    • General
    • World Economic Overview
      • Recent Historical Trends
      • World Economic Outlook
        • Table WORLD GROSS DOMESTIC PRODUCT BY REGION (billion 2010 dollars)
    • World Demographic Overview
      • Table WORLD POPULATION BY REGION (million persons)
    • World Manufacturing Outlook
      • Table WORLD MANUFACTURING VALUE ADDED BY REGION (billion 2010 dollars)
    • World Oil & Gas Outlook
      • Table WORLD OIL & GAS OUTPUT (quadrillion Btus)
    • World Petroleum Outlook
      • Reserves & Exploration
        • Table WORLD PETROLEUM RESERVES BY COUNTRY, 2011 (billion barrels)
      • Production
        • Table WORLD CRUDE OIL PRODUCTION BY REGION (million barrels)
      • Pricing Patterns
    • World Natural Gas Outlook
      • Reserves & Exploration
        • Table WORLD NATURAL GAS RESERVES BY COUNTRY, 2011 (trillion cubic feet)
      • Production
        • Table WORLD NATURAL GAS PRODUCTION BY REGION (trillion cubic feet)
      • Pricing Patterns
    • Oilfield Services Overview
      • Table WORLD OILFIELD SERVICES INDICATORS
    • Oilfield Equipment Pricing Trends
    • Environmental & Regulatory Issues
  • OVERVIEW
    • General
    • Demand by Region
      • Table WORLD OILFIELD EQUIPMENT DEMAND BY REGION (million dollars)
    • Demand by Product
      • Table WORLD OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
      • Drilling Equipment
        • Table WORLD DRILLING EQUIPMENT DEMAND BY REGION (million dollars)
      • Field Production Machinery
        • Table WORLD FIELD PRODUCTION MACHINERY DEMAND BY REGION (million dollars)
      • Pumps & Valves
        • Table WORLD PUMPS & VALVES DEMAND BY REGION (million dollars)
      • Other Machinery & Equipment
        • Table WORLD OTHER MACHINERY & EQUIPMENT DEMAND BY REGION (million dollars)
    • World Oilfield Equipment Production
      • Table WORLD OILFIELD EQUIPMENT PRODUCTION BY REGION (million dollars)
    • International Trade
      • Table WORLD OILFIELD EQUIPMENT NET EXPORTS BY REGION (million dollars)
  • NORTH AMERICA
    • North America: General
    • North America: Supply & Demand
      • Table NORTH AMERICA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
    • North America: Outlook
      • Table NORTH AMERICA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • United States
      • Table UNITED STATES: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table UNITED STATES: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Canada
      • Table CANADA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million US dollars)
      • Table CANADA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million US dollars)
    • Mexico
      • Table MEXICO: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table MEXICO: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
  • CENTRAL & SOUTH AMERICA
    • Central & South America: General
    • Central & South America: Supply & Demand
      • Table CENTRAL & SOUTH AMERICA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
    • Central & South America: Outlook
      • Table CENTRAL & SOUTH AMERICA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Argentina
      • Table ARGENTINA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table ARGENTINA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Brazil
      • Table BRAZIL: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table BRAZIL: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Venezuela
      • Table VENEZUELA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table VENEZUELA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Other Central & South America
      • Table OTHER CENTRAL & SOUTH AMERICA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table OTHER CENTRAL & SOUTH AMERICA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
  • EUROPE
    • Europe: General
    • Europe: Supply & Demand
      • Table EUROPE: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
    • Europe: Outlook
      • Table EUROPE: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Norway
      • Table NORWAY: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table NORWAY: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Russia
      • Table RUSSIA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table RUSSIA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • United Kingdom
      • Table UNITED KINGDOM: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table UNITED KINGDOM: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Other Europe
      • Table OTHER EUROPE: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table OTHER EUROPE: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
  • AFRICA/MIDEAST
    • Africa/Mideast: General
    • Africa/Mideast: Supply & Demand
      • Table AFRICA/MIDEAST: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
    • Africa/Mideast: Outlook
      • Table AFRICA/MIDEAST: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Algeria
      • Table ALGERIA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table ALGERIA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Iran
      • Table IRAN: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table IRAN: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Kuwait
      • Table KUWAIT: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table KUWAIT: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Libya
      • Table LIBYA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table LIBYA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Nigeria
      • Table NIGERIA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table NIGERIA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Qatar
      • Table QATAR: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table QATAR: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Saudi Arabia
      • Table SAUDI ARABIA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table SAUDI ARABIA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • United Arab Emirates
      • Table UNITED ARAB EMIRATES: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table UNITED ARAB EMIRATES: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Other Africa/Mideast
      • Table OTHER AFRICA/MIDEAST: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table OTHER AFRICA/MIDEAST: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
  • ASIA/PACIFIC
    • Asia/Pacific: General
    • Asia/Pacific: Supply & Demand
      • Table ASIA/PACIFIC: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
    • Asia/Pacific: Outlook
      • Table ASIA/PACIFIC: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Australia
      • Table AUSTRALIA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million US dollars)
      • Table AUSTRALIA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million US dollars)
    • China
      • Table CHINA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table CHINA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • India
      • Table INDIA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table INDIA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Indonesia
      • Table INDONESIA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table INDONESIA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Kazakhstan
      • Table KAZAKHSTAN: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table KAZAKHSTAN: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Malaysia
      • Table MALAYSIA: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table MALAYSIA: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
    • Other Asia/Pacific
      • Table OTHER ASIA/PACIFIC: OILFIELD EQUIPMENT SUPPLY & DEMAND (million dollars)
      • Table OTHER ASIA/PACIFIC: OILFIELD EQUIPMENT DEMAND BY PRODUCT (million dollars)
  • INDUSTRY STRUCTURE
    • General
    • Industry Composition
      • Table WORLD OILFIELD EQUIPMENT SALES BY COMPANY, 2011 (million dollars)
    • Market Share
    • Product Development & Manufacturing
    • Marketing & Distribution
    • Financial Requirements
    • Cooperative Agreements
      • Table SELECTED COOPERATIVE AGREEMENTS
    • Mergers & Acquisitions
      • Table SELECTED ACQUISITIONS & DIVESTITURES
    • Company Profiles
      • Aker Solutions ASA
      • Atlas Copco AB
      • Baker Hughes Incorporated
      • Cameron International Corporation
      • Dover Corporation
      • Ebara Corporation
      • Emerson Electric Company
      • Flowserve Corporation
      • Foster Wheeler AG
      • General Electric Company
      • Halliburton Company
      • Ingersoll-Rand plc
      • ITT Corporation
      • KITZ Corporation
      • KSB AG
      • National Oilwell Varco Incorporated
      • Rowan Companies plc
      • Sandvik AB
      • Schlumberger Limited
      • Schoeller-Bleckmann Oilfield Equipment AG
      • Sulzer Limited
      • Technip SA
      • Tenaris SA
      • Tyco International Limited
      • Vallourec SA
      • Weatherford International Limited

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