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Wellhead Equipment Market Trends

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

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Wellhead Equipment Market Trends

Growth Drivers

Increasing Demand for Oil and Gas
Rising Construction of New Oil Wells
Rising Exploration and Production Activities in Energy and Power Industry

Challenges

Constantly Depleting Oil Reserves
Increasing Adoption of Green Energy

Wellhead Equipment Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	4.6%
Base Year Market Size (2023)	USD 6.75 billion
Forecast Year Market Size (2036)	USD 12.11 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Wellhead Equipment Market Size & Share, Growth Forecast 2036

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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