Wellhead Equipment Industry - Regional Synopsis
North America industry is expected to account for largest revenue share by 2037, 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.
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Frequently Asked Questions (FAQ)
In the year 2025, the industry size of wellhead equipment is estimated at USD 7.34 billion.
Wellhead Equipment Market size was valued at USD 7.06 billion in 2024 and is likely to cross USD 12.67 billion by 2037, registering more than 4.6% CAGR during the forecast period i.e., between 2025-2037.
North America industry is expected to account for largest revenue share by 2037, 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.
The major players in the market are General Electric Company, Aker Solutions ASA, Schlumberger Limited, Trican Well Service Ltd., Oil States International, Inc, Forum Energy Technologies Inc., Cameron International Corporation, and others.
