First Research US Industry Profile

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Oil & Gas Field Equipment Manufacturing
SIC Codes: 3533
NAICS Codes: 333132
Last Quarterly Update: 7/22/2019
Companies in this industry manufacture machinery and equipment used in oil and gas exploration and production, as well as water well drilling machinery. Major companies include Baker Hughes, a GE Company (BHGE); National Oilwell Varco; and Schlumberger (all based in the US); along with Nabors Industries (Bermuda); Shandong Kerui Petroleum Equipment (China); Technipfmc (UK); and Weatherford International (Ireland).
The global oil and gas field equipment and services market is forecast to grow nearly 4% per year through 2026, reaching a value of about $330 billion, according to Fortune Business Insights. Leading demand drivers include deepwater drilling, production from shale gas reserves in the US and China, and increased drilling and exploration activities in the Middle East and Africa.
The US oil and gas field equipment manufacturing industry includes about 685 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $12 billion.
Separate profiles cover two closely related industries: Oil & Gas Field Services and Oil & Gas Exploration & Production.
Competitive Landscape
Demand is driven by oil and gas prices. The profitability of individual companies depends on engineering expertise and efficient production. Large companies have economies of scale in purchasing. Small companies can compete effectively by specializing. The US industry is highly concentrated: the top 50 companies account for about 80% of revenue.
About 20% of US production of oil and gas field equipment is exported. Top export markets include Argentina, Saudi Arabia, the United Arab Emirates, Russia, and Canada. Imports largely come from Canada, China, Mexico, the UK, and Austria and account for about 10% of the US market. The downturn in oil prices that began in 2014 greatly reduced the level of global trade in oil and gas field machinery.
Products, Operations & Technology
Major products include drill bits, drilling pipe, drilling motors, derricks, valves, portable rigs, well monitoring instruments, tubing, wellheads, blowout ... plus:
Sales & Marketing
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Finance & Regulation
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Regional & International Issues
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Human Resources
Also includes the following chapters:
Quarterly Industry Update
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Industry Indicators
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Business Challenges
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Trends and Opportunities
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Call Preparation Questions
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Financial Information
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Industry Forecast
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Industry Websites
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Glossary of Acronyms

Historical Profiles (PDF format)

03/25/2019
12/17/2018
09/17/2018
06/18/2018
03/12/2018
12/04/2017
09/04/2017
06/05/2017
03/06/2017
11/14/2016
08/15/2016
05/16/2016
02/15/2016
11/09/2015
08/10/2015
05/11/2015
02/09/2015
11/10/2014
08/18/2014
05/26/2014
03/03/2014
11/25/2013
09/02/2013
06/10/2013
03/18/2013
12/10/2012
09/17/2012
07/02/2012
04/09/2012
12/19/2011
09/26/2011
06/13/2011
03/21/2011