Oilfield Consumables Market Rugged Expansion Foreseen by 2026
Posted: Feb 10, 2019
Oilfield consumable products are used in oilfields in oil & gas exploration activities. Oilfield consumable products are meant for one time use. Various oilfield consumable products such as valves, wash pipes, pump gaskets, pump packing, fittings, hydraulic seat pullers, pipe wipers, pipe strippers, top drive bushings, metre sticks, shaker deck wedges, mud pump consumables, hoses, hoses nozzles, and flanges are used in oilfield activities.Oilfield consumable products are useful for adjustment, tightening, loosening, and fixing major components in oil & gas industry activities. Oilfield consumables assist in optimal performance and functioning of large vital machinery used in oil & gas activities.
The market for oilfield consumables is increasing steadily over the past few years.Oilfield consumables market has grown significantly and is directly dependent on oil & gas industry. Major oilfield consumables industry players have diversified their portfolio and also offer consumable products for other industries such as automotive, space and construction.
The global oilfield consumables market is segmented on the basis of geography. North America including the U.S and Canada and Mexico have the highest share of oilfield consumables market. Europe, Latin America and Middle East including Russia, Germany, U.K, Ukraine, Argentina, Saudi Arabia, Iran and Algeria also have a huge market for oilfield consumables. Asia Pacific has a large potential market for oilfield consumables. Asia Pacific market for oilfield consumables has grown enormously in recent years. Countries such as Australia, China, India, Kazakhstan, and Indonesia have given a huge boost to oilfield consumables market.
The drivers for oilfield consumables market includes the increasing demand for energy and discovery of new oil & gas reserves around the globe. In recent years, oil & gas production has increased enormously worldwide. New energy sources and advanced drilling technology will further bolster the demand for oilfield consumables. Also, shifted focus on more productive wells will boost oil & gas production that will reinstate the demand for oilfield consumables. In recent times, many onshore oil & gas reserves have been discovered and utilized. This has given immense boost to demand for oilfield consumables. Although, the falling prices of fuel around the globe may pose a threat to oil & gas producers. Low-grade quality could hamper the growth of oilfield consumables market. However, new natural gas and oil resources along with rise in consumption of oil & gas may prove beneficial to oilfield consumables industry. All these factors picture a good growth trajectory for oilfield consumables market.
Get PDF Brochure for more Professional & Technical industry insights:https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=7126
Some of the key players in the oilfield consumablesmarket include Accurate Oilfield Supply, Southwest Oilfield Products Inc., HiTEK Urethane Global, Craig International Supplies Ltd., Project Sales Corporation, Wildcat Minerals LLC, Task Synergy Group, Gaffney-Kroese Supply Corporation, and Safar Oilfield Services among others.
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
Transparency Market Research
90 State Street,
NY – 12207
USA – Canada Toll Free 866-552-3453
As SEO Analyst in Research Moz my primary responsibilities are SEO, Website Optimization, Digital Marketing and Lead Generation.