Worldwide Mining and Oil and Gas Field Machinery Manufacturing Market
The study was to see the worldwide market and future demand growth for mining and oil & gas field machinery manufacturing over the five-year amount from 2016 through 2020. The report additionally evaluates the market across every earth science. The key objective was to gift a comprehensive discussion of wherever the progressive is in mining and oil & gas field machinery manufacturing and forecast the longer term industrial potential for the key market segments.
Global Mining and Oil & Gas Field machinery manufacturing market should reach $324.1 billion by 2020 from $265 billion in 2016 at a compound annual growth rate (CAGR) of 5.2%, from 2016 to 2020.
-An overview of the global market for mining and oil and gas field machinery manufacturing
-Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2020
-Detailed analyses of the market's drivers, restraints, opportunities, and future developments to help develop strategies
-Breakdowns of the market by region and country, including the size of the market by region, and their historic and forecast market growth
-Comprehensive profiles of leading companies in the industry
This study was to determine the global market and future demand growth for mining and oil & gas field machinery manufacturing over the five-year period from 2016 through 2020. Of particular focus was characterizing and quantifying the potential of the market for mining and oil & gas field machinery manufacturing by geography, and product (i.e., oil & gas field machinery and equipment manufacturing, mining machinery and equipment manufacturing, and others).
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The report also evaluates the market across each geography. Opportunities in each type of geography have been discussed in detail. Factors that affect the market such as drivers, restraints, and trends have been discussed. The key objective was to present a comprehensive discussion of where the state-of-the-art is in mining and oil & gas field machinery manufacturing and forecast the future commercial potential for the key market segments.
This discussion provides a basis for companies to make strategic choices about developing new products and markets or deciding which applications are needed in their organizations. The study will benefit mining and oil & gas field machinery manufacturers, providers of raw materials, users of mining and oil & gas field machinery, governments around the world, and others.
Study Goals and Objectives
-To sum up the global mining and oil & gas field machinery manufacturing market size.
-To estimate the growth rate of the global mining and oil & gas field machinery manufacturing market.
-To segment the market in the deepest possible way.
-To provide market numbers and growth rates at geographically.
-To identify major drivers and restraints.
-To identify key trends and technology updates in the field.
Reasons for Doing This Study
Technological advances such as cloud computing, 3D printing, 3D mapping, autonomous vehicles, machine learning, automation and wearable technologies has led to an increase in the demand for oil and gas and mining equipment globally. Global industry leaders and large organizations see an expanded role for product development, investment in autonomous machinery, 3D printing, and 3D mapping in the mining and oil & gas field machinery manufacturing industry.
The global mining and oil & gas field machinery manufacturing market is growing due to increased demand for oil and gas products, and steel and other metals and mineral products, decline in commodity prices, and globalization. These factors along with political support in form of tax waivers and subsidies offered by national and state governments for oil and gas, coal and other mineral exploration companies will drive the mining and oil & gas field machinery manufacturing.
The market for mining and oil & gas field machinery manufacturing is marginally consolidated with a few large players, dominating the market. Major players in the market include Schlumberger Ltd., Caterpillar Inc., Komatsu Ltd., National Oilwell Varco Inc., and others.
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by: Sandhya Nair