Irving, TX (PRWEB) July 04, 2012
The global oil and gas field equipment and services industry has experienced significant growth over the last five years and is expected to continue its growth momentum, reaching approximately US $613 billion by 2017 with a CAGR of 6.9% over the next five years.
Lucintel, a leading global management consulting and market research firm, has analyzed the global oil and gas field equipment and services market and presents its findings in “Global Oil & Gas Field Equipment and Services Industry 2012-2017:Trend, Profit and Forecast Analysis.”
The oil and gas field equipment and services industry consists of sales of equipment and services used in crude oil and natural gas extraction. The industry is highly fragmented in terms of suppliers and buyers; it highly depends on the upstream business of the oil and gas companies.
Political instability in many oil-producing regions, government mandates,and environmental regulations are some of the challenges facing the industry. Increasing demand and stronger pricing for pressure pumping services, however, are expected to drive the market. Discovery of new resources in addition to ongoing exploration and production activity are expected to boost the market. The APAC region is forecast to havethe highest growth during next five years. Robust demand for oilfield services in North American unconventional oil and gas shale is expected to lead the industry.
This study provides an overview of the global oil & gas field equipment and services industry. The report tracks five industry segments for four regions; thus, it tracks 20 segments of the global oil & gas field equipment and services industry. The industry includes the sale of equipment, evaluation, contract drilling and well completion and production services related to the extraction of oil and gas. It also identifies the high growth areas and markets for the future business expansion and market expansion.
For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit http://www.lucintel.com.