San Francisco, California (PRWEB) June 26, 2014
The global market for oilfield equipment is expected to reach USD 127.60 billion by 2020; according to a new study by Grand View Research, Inc. Increasing drilling activities, on account of growing energy demand, is expected to remain a key driving factor for the market. However, cost intensive nature of the market due to risk and low reliability of operations is a major challenge to the growth of this market.
Drilling equipment was the leading product segment and accounted for 73.7% of total market revenue in 2013. In addition to being the largest product segment, drilling equipment is also expected to be the fastest growing product segment at an estimated CAGR of 4.2% from 2014 to 2020. It was followed by field production machinery and pumps & valves which is expected to exceed a market worth USD 20 billion by 2020, at an estimated CAGR of 3% from 2014 to 2020.
The report “Oilfield Equipments Market Analysis By Product (Drilling Equipments, Pumps & Valves, Field Production Machinery) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/oilfield-equipments-market.
Request Free Sample of This Report @ http://www.grandviewresearch.com/industry-analysis/oilfield-equipments-market/request
Further key findings from the study suggest:
Browse All Reports of This Category @ http://www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments
For the purpose of this study, Grand View Research has segmented the Oilfield Equipment market on the basis of product and region:
Browse All Grand View Research Ongoing Reports @ http://www.grandviewresearch.com/ongoing-reports
Medical Polymers Market Analysis By Product (Resins & Fibers, Elastomers, Biodegradable Plastics), By Application (Devices and Equipments, Packaging) and Segment Forecasts To 2020 (http://www.grandviewresearch.com/industry-analysis/medical-polymers-market)
The global market for medical polymers is expected to reach USD 17.05 billion by 2020, according to a new study by Grand View Research, Inc. Increasing substitution of conventional materials such as glass and metals in medical devices by high performance polymers such as PVC and polypropylene coupled with growing demand for medical devices from the fast developing Asian healthcare market is expected to drive medical polymer demand over the next six years.
Bisphenol A (BPA) Market Analysis By Application (Polycarbonates, Epoxy resins) and Segment Forecasts To 2020 (http://www.grandviewresearch.com/industry-analysis/bisphenol-a-bpa-market)
The global market for Bisphenol A (BPA) is expected to reach USD 20.03 billion by 2020, according to a new study by Grand View Research, Inc. BPA is largely used for the production of polycarbonates and growing demand of polycarbonates in consumer goods and medical devices is expected to be a key driver for the market. In addition, the growing construction industry and growing BPA demand in automobile industry are expected to further augment market growth. However, health hazards associated with the use of BPA resulting in regulatory pressure is expected to be a key challenge for the industry over the next six years.
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519