NEW YORK, July 15, 2015 /PRNewswire/ — This study analyzes US demand for products and services used in drilling oil and natural gas wells. Products include oilfield country tubular goods, rig equipment, pressure control equipment, drill bits, downhole tools, drilling fluids, and others. Also included are drilling services, such as contract drilling, logging and measurement services, directional drilling control, and all other services directly related to oilfield drilling. In this study, all of these products and services are treated in the aggregate to define the size of the market for oil and gas drilling products.
Excluded from the scope of this study are products and services related to oil and gas well completion, stimulation, workover, and production, as well as products and services related to enhanced oil recovery operations.
Historical data (2004, 2009, and 2014) and forecasts for the years 2019 and 2024 are provided for sales of drilling products and services at the aggregate level, valued in millions of current US dollars, including inflation.
The term “demand” refers to “apparent consumption” and is defined as shipments (also referred to variously as “production,” “output,” or “supply”) from domestic manufacturing facilities, plus imports, minus exports. It is used interchangeably with the terms “market,” “sales,” and “consumption.”
In addition, major suppliers of drilling products and services to the US market are identified and profiled, and the key competitive variables are discussed. The entire report is framed within the US oil and gas drilling product and service industry’s economic, technological, and market environments, and thus environmental variables affecting supply and demand patterns — especially oil and natural gas prices and drilling activity – are emphasized.
As with many analyses involving combined markets of both goods and services, there is a potential for an inflation of aggregate sales due to the rental or consumption of purchased equipment during service operations. While the large stock of capital equipment in the drilling industry limits the potential for overcounting with regard to equipment rental, the cost of products consumed during the performance of a service may be included in the value of that service. An effort has been made to distinguish between drilling services and the products consumed in the performance of these services and to ensure that services demand data does not include consumable products.
Throughout this study, product and service demand is related to various indicators for comparative purposes and to facilitate further analysis.
Macroeconomic and demographic indicators used in this study have been obtained from The Freedonia Group Consensus Forecasts dated April 2015.
Tabular details may not add to totals due to independent rounding. Ratios may be rounded for the sake of clarity.
Information and data on the US oil and gas drilling industry were obtained from a variety of primary and secondary sources, including government and trade associations, industry participants, online databases, and other Freedonia studies. Secondary data and background information were obtained through various trade publications, including Hydrocarbon Engineering, Offshore, Oil & Gas Journal, Unconventional Oil & Gas Report, and World Oil. Corporate annual reports, SEC Form 10-K filings, product catalogs and other company information were also used in framing the industry and market environments and as input for market size assessments.
Read the full report: http://www.reportlinker.com/p03090238-summary/view-report.html
ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need – instantly, in one place.
Contact Clare: email@example.com
Intl: +1 339-368-6001