The analysts forecast global wellhead equipment market to grow at a CAGR of 3.06% during the period 2017-2021. The latest trend gaining momentum in the market is Varying reservoir characteristics.
Each reservoir has its specific characteristics according to the formation and the layer of the traps. The reservoir characteristics have an impact on the production of any well, which ultimately decides the types of well drilling and completion tools that would be used during the operations.
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The composition and purity of crude oil, character of the reservoir rock, and the nature and strength of the drive mechanism influence the flow rate and the ultimate productivity of a reservoir. Reservoir depth, orientation, and complexity are the key factors that determine the cost and complexity of drilling and completion of a well.
Major key players are provided in global wellhead equipment market: Aker Solutions, GENERAL ELECTRIC, National Oilwell Varco, Schlumberger, TechnipFMC, Weir Group, Aker Solutions, GENERAL ELECTRIC, National Oilwell Varco, Schlumberger, TechnipFMC, and Weir Group
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According to the wellhead equipment market report, one of the major drivers for this market is Increasing number of deep and ultra-deepwater drilling projects. As per the US Energy Information Administration (EIA), the recent oil shock witnessed a decline in the crude oil price, which was as low as $27/bbl in January 2016; the lowest since 2003.
The oil price has almost doubled since then and was hovering around the $53-55/bbl mark as of October 2017. During the phase of low crude oil price, several projects, especially deep and ultra-deepwater projects, were put on hold.
Further, the wellhead equipment market report states that one of the major factors hindering the growth of this market is Fluctuations in oil and gas prices. The continued trend of low crude prices has put additional pressure on the oil and gas service providing companies.
Low-profit margins for a continued period result in reduced revenues, which directly influence the financial aspect of any company.
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Low investments in oil and gas projects have reduced the market potential for oil and gas service companies. Integrated oil companies were still able to absorb some of the market pressure, but pure play upstream companies were affected the most.
Major Points from Table of Contents:
1: Executive Summary
2: Scope of The Report
3: Research Methodology
5: Market Landscape
6: Market Sizing
7: Five Forces Analysis
8: Market Segmentation By Application
9: Market Segmentation By Components
10: Customer Landscape
11: Regional Landscape
12: Decision Framework
13: Drivers and Challenges
14: Market Trends
15: Vendor Landscape
16: Vendor Analysis
Complete report on Wellhead Equipment Market spread across 115 pages, analyzing 13 major companies and providing 80 data exhibits now available at www.reportsnreports.com/reports/12…t-2017-2021.html.
Few Points from List of Exhibits:
Exhibit 1: Major Segments of Oil and Gas Industry
Exhibit 2: Parent Market
Exhibit 3: Global Wellhead Equipment Market
Exhibit 4: Market Characteristics
Exhibit 5: Market Segments
Exhibit 6: Market Definition - Inclusions and Exclusions Checklist
Exhibit 7: Market Size 2016
Exhibit 8: Validation Techniques Employed For Market Sizing 2016
Exhibit 9: Global Wellhead Equipment Market Market Size and Forecast 2016-2021 ($ Millions)
Exhibit 10: Global Wellhead Equipment Market Year-Over-Year Growth 2017-2021 (%)
Exhibit 11: Petroleum Upstream Activities Stages
Exhibit 12: Five Forces Analysis 2016
Exhibit 13: Five Forces Analysis 2021
Exhibit 14: Bargaining Power of Buyers
Exhibit 15: Bargaining Power of Suppliers
Exhibit 16: Threat of New Entrants
Exhibit 17: Threat of Substitutes
Exhibit 18: Threat of Rivalry
Exhibit 19: Market Condition - Five Forces
Exhibit 20: Application Market Share 2016-2021 (%)