Irving, Texas (PRWEB) August 25, 2012
Deepwater test drilling technology and subsea separation and compression technologiesare expected be the chief drivers for global oil and gas field equipment and infrastructure industrymarket growth. The industryexperienced a robust growth over the last five years and is expected to continue its growth momentum reaching approximately $217.9 billion in 2017 with a CAGR of 8.7% over next five years (2012-2017).
Lucintel, a leading global management consulting and market research firm, has analyzed the global oil and gas field equipment and infrastructure industryand presents its findings in “Global Oil and Gas Field Equipment and Infrastructure Industry 2012-2017:Trend, Profit and Forecast Analysis.”
The global oil and gas field equipment and infrastructure industry is highly fragmented. North America dominates this market. A combination of factors such as strong oil prices and exploration and production budget is seen to affect market dynamics considerably.The demand for equipment and infrastructure is expected to grow significantly because of increasing drilling activity in shale gas formations and an increase in pipeline construction activity.
Lucintel’s research indicates that the Asia Pacific (APAC) witnessed the highest growth rate in 2011 due to a shift toward more technically challenging fields, such as deepwater, and a positive outlook for offshore exploration activity in Southeast Asia. North America, the Middle East, and APAC present growth potential in the equipment market and have huge reserves in onshore and offshore areas, creating opportunities for further discovery of new resources.
As the study indicates, political instability, geographic challenges, government regulations, scarcity of skillful workforce, and environmental factorsare the biggest challenges for the industry. Increasing demand for technology advancement, rising unconventional resources development, high oil prices, increasing deepwater services, and emerging sources are anticipated to boost the industry.
The report tracks one market segment for four regions;thus, it tracks four segments of the global oil and gas well completion and production industry.
For a detailed table of contents and pricing information on this timely, insightful report, 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.