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Oil and Gas Drilling Equipment Manufacturing - Industry Market Research Report

Oil and Gas Drilling Equipment Manufacturing

The Oil and Gas Drilling Equipment Manufacturing industry continued to benefit from a resurgence in the oil and gas extraction sector in the United States until 2014; however, the decline in oil prices beginning late 2014 affected the industry significantly. In response to declining oil prices that occurred over the five years to 2019, downstream demand for oil and gas machinery dried up, forcing industry operators to cut back on manufacturing. Additionally, as the value of the US dollar recovered, industry exports suffered even more, pulling down revenue further. Major players in the industry responded by cutting jobs and closing several locations. As a result, industry revenue decreased sharply during the current period. However, growth trends are anticipated to reverse over the five years to 2024, as industry revenue is projected to rise. This projected growth is attributable to the United States likely continuing to prioritize energy independence.

Operators in this industry manufacture oil and gas drilling machinery and equipment to sell to extractors.

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.


  • About this Industry
  • Industry at a Glance
    • Table Key Statistics Snapshot
    • Table Revenue vs. employment growth
    • Table Products and services segmentation (2019)
    • Table Industry Structure
  • Industry Performance
    • Table World price of natural gas
    • Table Industry revenue
    • Table Life Cycle Stage
  • Products & Markets
    • Table KEY BUYING INDUSTRIES
    • Table KEY SELLING INDUSTRIES
    • Table Products and services segmentation (2019)
    • Table Major market segmentation (2019)
    • Table Industry trade balance
    • Table Exports To ...
    • Table Business Locations 2019
    • Table Distribution of establishments vs. population
  • Competitive Landscape
    • Table Sector vs. Industry Costs
    • Table Barriers to Entry checklist
    • Table Trade Globalization
  • Major Companies
    • Table Major Players
    • Table Halliburton Company (US industry-specific segment) - financial performance*
    • Table National Oilwell Varco Inc. (US industry-specific segment) - financial performance*
    • Table Baker Hughes, a GE company, LLC (US industry-specific segment) - financial performance*
  • Operating Conditions
    • Table Capital Intensity
    • Table Tools of the Trade: Growth Strategies for Success
    • Table Volatility vs. growth
  • Key Statistics
    • Table Industry Data
    • Table Annual Change
    • Table Key Ratios
  • Jargon & Glossary

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