Wellhead Equipment Market Share

On the basis of geographical analysis, the wellhead equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America industry is set to hold largest revenue share by 2036, backed by increasing demand for crude oil, high production of oil and gas, and presence of large number of oil reserves in Canada, and the US. Canada is one of the largest producers and exporters of crude oil, producing over 15,500 barrels per day in 2019.

The wellhead equipment market in Middle East and Africa region witnessed noteworthy growth by the end of 2021, on the back of owing to the large number of oil reserves, increasing global demand of crude oil, along with rising investment from western countries.