Wellhead Equipment Market Size

  • Report ID: 3611
  • Published Date: Aug 26, 2024
  • Report Format: PDF, PPT

Wellhead Equipment Market Size

Wellhead Equipment Market size was over USD 6.75 billion in 2023 and is poised to cross USD 12.11 billion by 2036, growing at more than 4.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of wellhead equipment is evaluated at USD 7 billion. The growth of the market can be attributed to increasing number of oil wells across the world, backed by rising investment in the oil & gas sector. Wellhead is made up of spools, valves and adapters to provide pressure control of the oil well. The growing application of wellheads to ensure safe operation of oil wells, is estimated to boost the market growth. The growing construction of onshore as well as offshore oil wells, to meet the growing demand for oil petroleum, is further expected to fuel the wellhead equipment market growth significantly. According to the data by the International Energy Agency (IEA), the oil production touched 98.3 million barrel per day in 2018. Furthermore, global oil consumption is projected to touch 104.1 million barrel per day by 2026, registering an increase of 4.4 million barrel per day from 2019.


Wellhead Equipment Market
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Author Credits:  Dhruv Bhatia


  • Report ID: 3611
  • Published Date: Aug 26, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of wellhead equipment is evaluated at USD 7 billion.

Wellhead Equipment Market size was over USD 6.75 billion in 2023 and is poised to cross USD 12.11 billion by 2036, growing at more than 4.6% CAGR during the forecast period i.e., between 2024-2036. The growing construction of new oil wells to meet the mounting demand of petroleum product will boost the market growth.

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.

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.
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