Global oilfield equipment market value 2014-2020

The value of the global oilfield equipment market is expected to amount to 211 billion U.S. dollars in 2020. This would be lower than the market value reached in 2016 during the last oil price crash. The decline is a result of the oil crisis following a drastic fall in consumer demand due to the coronavirus pandemic and production increases by Saudi Arabia and Russia in a bid to gain greater market shares.

Value of oilfield equipment market worldwide from 2014 to 2020

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Sources

Release date

April 2020

Region

Worldwide

Survey time period

2014, 2016, and 2019

Supplementary notes

* Figure manually calculated by Statista.
** Estimate.

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