New ARC Advisory Group research on the Upstream Oilfield Machinery market reveals that higher energy prices have forced consumers and businesses to make more significant adjustments to manage costs. Operations that consume large amounts of energy have a greater opportunity for savings through optimization. A prime example of this is drilling equipment systems where energy accounts for more than one-third of total lifecycle costs. As a result of the energy-intensive nature of pumps, solids control systems, and topdrives systems, the energy saving advantages of upstream oilfield machinery will be a significant contributor to its market growth.
“Looking ahead, owner-operators, independent E&P firms, and oilfield services companies will have to become even more cost and energy efficient and environmentally aware when drilling new wells, maintaining well integrity, or enhancing production from mature wells. This will involve managing oilfield drilling operations to reduce overall costs, increase production performance, reduce operating and financial risks, and minimize impact on the environment,” according to Jyoti Prakash, Analyst at ARC Advisory Group and key author of ARC’s Upstream Oilfield Machinery Global Market Research 2017-2022 report.
About the Upstream Oilfield Machinery Research
This ARC research explores current market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the upstream oilfield machinery market. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modeling techniques. The research includes competitive analysis, plus five-year market forecasts by region, system type, and revenue category.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include a:
- Market Intelligence Workbook (Excel) - personalized spreadsheet includes the current base year market data and five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
- Concise Market Analysis Report (PDF) – provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. The PDF is available with or without detailed charts.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.