World Oilfield Equipment to 2016


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World Oilfield Equipment to 2016

  1. 1. World Oilfield Equipment to 2016Report Details:Published:October 2012No. of Pages: 324Price: Single User License – US$6100This study analyzes the world oilfield equipment industry. It presents historical demand data forthe years 2001, 2006 and 2011, and forecasts for 2016 and 2021 by product (e.g., drillingequipment, field production machinery, pumps and valves), world regional market and majornational market. The study also considers market environment factors, details industry structure,evaluates company market share and profiles industry players.Global demand to rise 3.7% annually through 2016Worldwide demand for oilfield equipment is forecast to increase 3.7 percent per annum through2016 to $106 billion, an improvement from the 2006-2011 pace. Demand gains will be fueled by asubstantial uptick in oil and gas production as the world economy distances itself from the generaleconomic weakness surrounding the 2009 global recession. Growth in oil and gas output isexpected to be especially strong in developing regions, where increasing energy requirements andimproving infrastructure will contribute to more drilling activity.Developing countries to see fastests gains in demandThrough 2016, most of the faster gains in oilfield equipment demand will occur in a variety ofsmaller developing countries. Among larger markets, gains will tend to be more moderate. China,which dominates demand in the Asia/Pacific region, will experience steady growth as its energyconsumption continues to rise. Russia, the world’s largest energy producer, will see oilfieldequipment demand grow at a below average pace, but this will represent a substantialimprovement on a weak 2006-2011 performance. Growth in demand for oilfield equipment will beespecially rapid in Brazil, which is expected to see a major boom in oil and gas production as anumber of large discoveries from the later part of the preceding decade are developed.The oilfield equipment market will be relatively weaker in developed regions, although NorthAmerica and Europe are still expected to see improvements from the pace of the 2006-2011period. Demand for oilfield equipment in the US will rise at about the world average as thecontinuing shale gas boom somewhat counteracts an overall slowdown in oil and gas production.In the UK, demand for oilfield equipment is expected to be held back by declining oilfield output,continuing the trend of the past decade. Weak demand growth will not be limited to wealthiernations, however Argentina, Mexico, and Venezuela will all be among the world’s more sluggishmarkets.Equipment price increases expected to continue
  2. 2. The discovery of new reserves and the depletion of existing ones has led to new extractiontechniques and increased complexity of drilling, raising the costs of production. Going forward,technological advancements leading to increased drilling efficiency will serve to constrain costssomewhat, but the necessity of developing new techniques to capitalize on unconventionalreserves, particularly shale oil and oil sands, will continue to raise prices.Industrialized countries to remain key producersGlobal production of oilfield equipment is concentrated in larger developed economies, whichpossess greater capacity for manufacture of hightechnology industrial machinery. The pattern ofproduction is substantially different from the distribution of demand, and only a few countries arenet exporters. The US is by far the biggest producer, accounting for 44 percent of oilfieldequipment output in 2011. Russia, China, and Canada are also major producers, but are all netimporters. Although oilfield equipment manufacturing in most smaller countries is expected to growalong with demand, production of larger, more technologically intensive components is expectedto remain concentrated in larger industrialized nations.Company Profilesfor 26 players in the global industryAdditional InformationThis study analyzes world supply and demand for oilfield machinery and equipment, defined asdrilling equipment (rotary, portable drilling rigs, tubular goods, and other -- primarily cable-toolequipment), field production machinery (sucker rods, wellhead equipment, etc.), pumps and valves(separately sold, i.e., not installed in other systems that are sold as a unit), and other machineryand equipment (primarily drilling derricks and logging-related equipment). Excluded from thescope of the study are pipeline pipe, pressure pumping equipment, most types of analytical andmeasuring instruments, power generation systems (engines, turbines, etc.), oilfield chemicals, andoilfield services; as a result, the market data presented in this study may differ from otherestimates that utilize different definitions and encompass additional or different products. Oilfieldequipment includes equipment used for both oil and gas exploration and production activities.Historical data (2001, 2006, and 2011) and forecasts to the years 2016 and 2021 are provided forshipments, demand, and net exports of oilfield machinery and equipment at the aggregate level ona country-by-country basis, valued in millions of current US dollars, including inflation. Detaileddata on oilfield equipment product markets are for sales in millions of current US dollars. The term“demand” actually refers to “apparent consumption,” and is defined as shipments (also referred tovariously as “production,” “output,” or “supply”) from a country’s indigenous manufacturing facilitiesplus imports minus exports. It is used interchangeably with the terms “market,” “sales,” and“consumption.”A potential source of statistical discrepancy in the historical series for both shipments and sales isthe conversion from national currencies to a common currency, in this case the US dollar. Demandin US dollars reflects local-currency inflation and demand growth but rates of exchange betweenlocal currencies and the US dollar have been held constant in all reported periods, that is, at anaverage-annual exchange rate calculated for the base year of 2011. As such, while the base yeardata is comparable, historical figures may differ from results calculated from local currency dataand current exchange rates.
  3. 3. Data on world oilfield equipment supply and demand are derived from differing sources anddeveloped from statistical relationships. As a result, variations are commonplace in this type ofinternational reporting, and, consequently, data presented in this study are historically consistentbut may differ from other sources. Variances may occur because of definitional differences,undistributed exports, inventory accumulation, and goods-intransit, among other reasons. Toreduce the impact of such discrepancies, total world oilfield equipment imports and exports havebeen assumed to balance in any given year.In addition, major global manufacturers of oilfield machinery and equipment are identified andprofiled, and the key competitive variables are discussed. The entire report is framed within theworld oilfield equipment industry’s economic, technological, and market environments, and thusenvironmental variables affecting oilfield equipment supply/demand patterns -- especially crude oilproduction -- are emphasized. All crude oil production data presented in this study include naturalgas plant liquids. World oilfield equipment market share and revenue by company data presentedin the “Industry Structure” section are estimated based on consultation with multiple sources. Inaddition, tabular details may not always add to totals due to rounding. Historical rig count datautilizes Baker Hughes data and Freedonia China Group research. Wells drilled data data and China Group research.Get your copy of this report @ points covered in Table of Contents of this report includeTABLE OF CONTENTSINTRODUCTION xiI. EXECUTIVE SUMMARY 1II. MARKET ENVIRONMENT 4General 4World Economic Overview 5Recent Historical Trends 6World Economic Outlook 8World Demographic Overview 12World Manufacturing Outlook 14World Oil & Gas Outlook 16World Petroleum Outlook 18Reserves & Exploration 19Production 22Pricing Patterns 24World Natural Gas Outlook 26Reserves & Exploration 27Production 30Pricing Patterns 33Oilfield Services Overview 35
  4. 4. Oilfield Equipment Pricing Trends 37Environmental & Regulatory Issues 37III. OVERVIEW 41General 41Demand by Region 42Demand by Product 46Drilling Equipment 48Field Production Machinery 50Pumps & Valves 51Other Machinery & Equipment 53World Oilfield Equipment Production 55International Trade 58IV. NORTH AMERICA 60General 60Supply & Demand 61Outlook 63United States 65Canada 72Mexico 77V. CENTRAL & SOUTH AMERICA 83General 83Supply & Demand 84Outlook 86Argentina 87Brazil 92Venezuela 96Other Central & South America 101VI. EUROPE 106General 106Supply & Demand 109Outlook 110Norway 112Russia 118United Kingdom 124Other Europe 129VII. AFRICA/MIDEAST 135General 135Supply & Demand 136Outlook 138Algeria 139Iran 144Kuwait 149
  5. 5. Libya 153Nigeria 157Qatar 162Saudi Arabia 166United Arab Emirates 171Other Africa/Mideast 175VIII. ASIA/PACIFIC 180General 180Supply & Demand 181Outlook 183Australia 185China 189India 195Indonesia 200Kazakhstan 205Malaysia 209Other Asia/Pacific 214IX. INDUSTRY STRUCTURE 218General 218Industry Composition 219Market Share 221Product Development & Manufacturing 225Marketing & Distribution 228Financial Requirements 229Cooperative Agreements 231Mergers & Acquisitions 233Company Profiles 238Aker Solutions ASA 239Atlas Copco AB 243Baker Hughes Incorporated 245BICO Drilling Tools, see Schoeller-Bleckmann OilfieldEquipmentBlakers Pump Engineers, see ITTCameron International Corporation 249Capital Valves, see National Oilwell VarcoChristensen Roder Productos E Servicos De PetroleoLimitada, see National Oilwell VarcoDover Corporation 254Dresser, see General ElectricEbara Corporation 259Emerson Electric Company 261Flowserve Corporation 263
  6. 6. Foster Wheeler AG 267Framo Engineering, see SchlumbergerFranklin (CE), see National Oilwell VarcoGE Oil & Gas, see General ElectricGeneral Electric Company 269Goulds Pumps, see ITTH&F Drilling Supplies, see Atlas CopcoHalliburton Company 272Harbison-Fischer, see DoverIngersoll-Rand plc 276ITT Corporation 278KITZ Corporation 280KSB AG 282Lawrence Pumps, see FlowserveLeTourneau Drilling Systems, see Cameron InternationalNational Oilwell Varco Incorporated 286Norris Production Solutions, see DoverOil Lift Technology, see DoverPetrowell, see Weatherford InternationalProduction Control Services, see DoverQuartzdyne, see DoverRowan Companies plc 294Sandvik AB 295Saudi Seamless Pipes Factory, see VallourecSchlumberger Limited 297Schoeller-Bleckmann Oilfield Equipment AG 303Smith International, see SchlumbergerSulzer Limited 306Technip SA 308Tenaris SA 310Tyco International Limited 313US Synthetic, see DoverVallourec SA 316Vescon Equipamentos Industriais Limitada, see CameronInternationalvoestalpine Tubulars, see National Oilwell VarcoWeatherford International Limited 320Wellstream Holdings, see General ElectricWilson International, see National Oilwell VarcoLIST OF TABLESSECTION I -- EXECUTIVE SUMMARYSummary Table 3
  7. 7. SECTION II -- MARKET ENVIRONMENT1 World Gross Domestic Product by Region 122 World Population by Region 143 World Manufacturing Value Added by Region 164 World Oil & Gas Output 185 World Petroleum Reserves by Country, 2011 216 World Crude Oil Production by Region 247 World Natural Gas Reserves by Country, 2011 298 World Natural Gas Production by Region 339 World Oilfield Services Indicators 36SECTION III -- OVERVIEW1 World Oilfield Equipment Demand by Region 452 World Oilfield Equipment Demand by Product 473 World Drilling Equipment Demand by Region 504 World Field Production Machinery Demand by Region 515 World Pumps & Valves Demand by Region 536 World Other Machinery & Equipment Demand by Region 557 World Oilfield Equipment Production by Region 578 World Oilfield Equipment Net Exports by Region 59SECTION IV -- NORTH AMERICA1 North America: Oilfield Equipment Supply & Demand 632 North America: Oilfield Equipment Demand by Product 643 United States: Oilfield Equipment Supply & Demand 694 United States: Oilfield Equipment Demand by Product 715 Canada: Oilfield Equipment Supply & Demand 756 Canada: Oilfield Equipment Demand by Product 777 Mexico: Oilfield Equipment Supply & Demand 808 Mexico: Oilfield Equipment Demand by Product 82SECTION V -- CENTRAL & SOUTH AMERICA1 Central & South America: Oilfield EquipmentSupply & Demand 852 Central & South America: Oilfield EquipmentDemand by Product 873 Argentina: Oilfield Equipment Supply & Demand 904 Argentina: Oilfield Equipment Demand by Product 915 Brazil: Oilfield Equipment Supply & Demand 946 Brazil: Oilfield Equipment Demand by Product 967 Venezuela: Oilfield Equipment Supply & Demand 998 Venezuela: Oilfield Equipment Demand by Product 1019 Other Central & South America: Oilfield EquipmentSupply & Demand 10410 Other Central & South America: Oilfield Equipment
  8. 8. Demand by Product 105SECTION VI -- EUROPE1 Europe: Oilfield Equipment Supply & Demand 1102 Europe: Oilfield Equipment Demand by Product 1123 Norway: Oilfield Equipment Supply & Demand 1164 Norway: Oilfield Equipment Demand by Product 1185 Russia: Oilfield Equipment Supply & Demand 1216 Russia: Oilfield Equipment Demand by Product 1247 United Kingdom: Oilfield Equipment Supply & Demand 1278 United Kingdom: Oilfield Equipment Demand by Product 1299 Other Europe: Oilfield Equipment Supply & Demand 13210 Other Europe: Oilfield Equipment Demand by Product 134SECTION VII -- AFRICA/MIDEAST1 Africa/Mideast: Oilfield Equipment Supply & Demand 1372 Africa/Mideast: Oilfield Equipment Demand by Product 1393 Algeria: Oilfield Equipment Supply & Demand 1424 Algeria: Oilfield Equipment Demand by Product 1445 Iran: Oilfield Equipment Supply & Demand 1476 Iran: Oilfield Equipment Demand by Product 1497 Kuwait: Oilfield Equipment Supply & Demand 1518 Kuwait: Oilfield Equipment Demand by Product 1539 Libya: Oilfield Equipment Supply & Demand 15510 Libya: Oilfield Equipment Demand by Product 15711 Nigeria: Oilfield Equipment Supply & Demand 16012 Nigeria: Oilfield Equipment Demand by Product 16113 Qatar: Oilfield Equipment Supply & Demand 16414 Qatar: Oilfield Equipment Demand by Product 16615 Saudi Arabia: Oilfield Equipment Supply & Demand 16916 Saudi Arabia: Oilfield Equipment Demand by Product 17117 United Arab Emirates: Oilfield Equipment Supply& Demand 17318 United Arab Emirates: Oilfield Equipment Demandby Product 17519 Other Africa/Mideast: Oilfield Equipment Supply& Demand 17820 Other Africa/Mideast: Oilfield Equipment Demandby Product 179SECTION VIII -- ASIA/PACIFIC1 Asia/Pacific: Oilfield Equipment Supply & Demand 1832 Asia/Pacific: Oilfield Equipment Demand by Product 1843 Australia: Oilfield Equipment Supply & Demand 1874 Australia: Oilfield Equipment Demand by Product 188
  9. 9. 5 China: Oilfield Equipment Supply & Demand 1936 China: Oilfield Equipment Demand by Product 1957 India: Oilfield Equipment Supply & Demand 1988 India: Oilfield Equipment Demand by Product 2009 Indonesia: Oilfield Equipment Supply & Demand 20310 Indonesia: Oilfield Equipment Demand by Product 20411 Kazakhstan: Oilfield Equipment Supply & Demand 20712 Kazakhstan: Oilfield Equipment Demand by Product 20913 Malaysia: Oilfield Equipment Supply & Demand 21214 Malaysia: Oilfield Equipment Demand by Product 21315 Other Asia/Pacific: Oilfield Equipment Supply & Demand 21616 Other Asia/Pacific: Oilfield Equipment Demand by Product 217SECTION IX -- INDUSTRY STRUCTURE1 World Oilfield Equipment Sales by Company, 2011 2202 Selected Cooperative Agreements 2323 Selected Acquisitions & Divestitures 235LIST OF CHARTSSECTION II -- MARKET ENVIRONMENT1 World Petroleum Reserves by Region, 2011 222 Average Annual Spot Prices for Crude Oil, 2001-2011 263 Proven Natural Gas Reserves by Region, 2011 304 Average Annual Spot Prices for Natural Gas, 2001-2011 35SECTION III -- OVERVIEW1 Oilfield Equipment Demand/Crude Oil ProductionRelationship, 2011 442 World Oilfield Equipment Demand by Region, 2011 453 World Oilfield Equipment Demand by Product, 2011 474 World Oilfield Equipment Production by Region, 2011 57SECTION IX -- INDUSTRY STRUCTURE1 World Oilfield Equipment Market Share by Company, 2011 221Contact: for more information.