Oilfield Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Oilfield Equipment Market report segments the industry into Deployment (Onshore, Offshore), Equipment Type (Drilling Equipment, Production Equipment & Intervention Equipment, Completion Equipment, Other Equipment Types) and Geography (North America, Europe, Asia-Pacific, South America, Middle-East and Africa). Get five years of historical data alongside five-year market forecasts.

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Oilfield Equipment Market Size

Compare market size and growth of Oilfield Equipment Market with other markets in Energy & Power Industry

Oilfield Equipment Market Analysis

The Oilfield Equipment Market size is estimated at USD 240.31 billion in 2025, and is expected to reach USD 274.09 billion by 2030, at a CAGR of 2.67% during the forecast period (2025-2030).

  • Over the medium term, factors such as the increasing number of deep-water and ultra-deepwater fields and the growing drilling operations in regions (like South America, North America, the Middle East, and Africa) will likely drive the oilfield equipment market during the forecast period.
  • On the other hand, the volatile oil prices due to the supply-demand gap and geopolitics are major factors restraining the market's growth.
  • Nevertheless, the increasing oil and gas discoveries and the global liberalization in the industry creates new opportunities for the players to invest in.
  • North America is anticipated to witness significant growth in the global oilfield equipment market during the forecast period due to surge in deep-water and ultra-deepwater fields.

Oilfield Equipment Industry Overview

The oilfield equipment market is consolidated, with some of the top companies holding the major share of the market. Some companies include (in no particular order) include Schlumberger Limited, Baker Hughes Company, Halliburton Company, Weatherford International PLC, and Tenaris SA, among others.

Oilfield Equipment Market Leaders

  1. Schlumberger Limited

  2. Baker Hughes Company

  3. Halliburton Company

  4. Weatherford International PLC

  5. Tenaris SA

  6. *Disclaimer: Major Players sorted in no particular order
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Oilfield Equipment Market News

  • March 2025: The International Financial Services Centers Authority (IFSCA) announced plans to introduce oilfield equipment leasing in GIFT City, Gujarat, India. This initiative seeks to broaden the current leasing framework, which already covers ships and aircraft, to include oilfield equipment. This strategic move is poised to bolster oil exploration activities in India and establish GIFT City as a key regional hub for oilfield equipment leasing services.
  • October 2024: Petrobras awarded Baker Hughes Co substantial contracts to deliver 77 km of flexible pipe systems for Brazil's pre-salt fields. This multi-year endeavor encompasses risers and flowlines essential for hydrocarbon extraction, as well as gas and water injection. Designed to combat stress-induced corrosion cracking from CO2, the equipment guarantees both safety and efficiency. Set for deployment across multiple fields, deliveries are slated to commence in mid-2026.

Oilfield Equipment Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD , till 2030
  • 4.3 Onshore and Offshore Active Rig Count and Forecast, till 2030
  • 4.4 Crude Oil and Natural Gas Production and Forecast, till 2030
  • 4.5 Historic and Demand Forecast of CAPEX in USD, by Onshore and Offshore, till 2030
  • 4.6 Recent Trends and Developments
  • 4.7 Market Dynamics
    • 4.7.1 Drivers
    • 4.7.1.1 The Increasing Number of Deep-Water and Ultra-Deepwater Fields
    • 4.7.1.2 Growing Drilling Operations in Regions
    • 4.7.2 Restraints
    • 4.7.2.1 The Volatile Oil Prices, Owing to the Supply-demand Gap and Geopolitics
  • 4.8 Supply Chain Analysis
  • 4.9 Porter's Five Forces Analysis
    • 4.9.1 Bargaining Power of Suppliers
    • 4.9.2 Bargaining Power of Consumers
    • 4.9.3 Threat of New Entrants
    • 4.9.4 Threat of Substitutes Products and Services
    • 4.9.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Deployment
    • 5.1.1 Onshore
    • 5.1.2 Offshore
  • 5.2 Equipment Type
    • 5.2.1 Drilling Equipment
    • 5.2.2 Production Equipment & Intervention Equipment
    • 5.2.3 Completion Equipment
    • 5.2.4 Other Equipment Types
  • 5.3 Geography
    • 5.3.1 North America
    • 5.3.1.1 United States of America
    • 5.3.1.2 Canada
    • 5.3.1.3 Rest of the North America
    • 5.3.2 Europe
    • 5.3.2.1 United Kingdom
    • 5.3.2.2 Germany
    • 5.3.2.3 France
    • 5.3.2.4 Italy
    • 5.3.2.5 Rest of the Europe
    • 5.3.3 Asia-Pacific
    • 5.3.3.1 China
    • 5.3.3.2 India
    • 5.3.3.3 South Korea
    • 5.3.3.4 Rest of the Asia-Pacific
    • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Rest of the South America
    • 5.3.5 Middle-East and Africa
    • 5.3.5.1 Saudi Arabia
    • 5.3.5.2 United Arab Emirates
    • 5.3.5.3 Iran
    • 5.3.5.4 Rest of the Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted and SWOT Analysis by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Schlumberger Limited
    • 6.3.2 Weatherford International PLC
    • 6.3.3 Baker Hughes Company
    • 6.3.4 Halliburton Company
    • 6.3.5 Tenaris SA
    • 6.3.6 Oceaneering International Inc.
    • 6.3.7 National Oilwell Varco Inc.
    • 6.3.8 Vallourec SA
    • 6.3.9 Aker Solutions ASA
    • 6.3.10 Stabil Drill Specialties LLC
  • *List Not Exhaustive
  • 6.4 List of Other Prominent Players
  • 6.5 Market Ranking Analysis

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 The Increasing Oil and Gas Discoveries, Coupled with the Liberalization in the Industry
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Oilfield Equipment Industry Segmentation

Oilfield equipment refers to tools and machinery that are primarily useful in upstream operations such as exploration, drilling, and production processes. These are used in developing oilfield projects, both onshore and offshore. Oilfield equipment is chosen according to the application and offers precision.

The oilfield equipment market is segmented by deployment, equipment type, and geography. By deployment, the market is segmented into onshore and offshore. By equipment type, the market is segmented into drilling equipment, production equipment & intervention equipment, completion equipment and other equipment types. The report also covers the market size and forecasts for the oilfield equipment market across major regions, such as Asia-Pacific, North America, Europe, South America, the Middle East, and Africa. 

For each segment, the market sizing and forecasts have been done based on revenue (USD). 

Deployment Onshore
Offshore
Equipment Type Drilling Equipment
Production Equipment & Intervention Equipment
Completion Equipment
Other Equipment Types
Geography North America United States of America
Canada
Rest of the North America
Europe United Kingdom
Germany
France
Italy
Rest of the Europe
Asia-Pacific China
India
South Korea
Rest of the Asia-Pacific
South America Brazil
Argentina
Rest of the South America
Middle-East and Africa Saudi Arabia
United Arab Emirates
Iran
Rest of the Middle-East and Africa
Deployment
Onshore
Offshore
Equipment Type
Drilling Equipment
Production Equipment & Intervention Equipment
Completion Equipment
Other Equipment Types
Geography
North America United States of America
Canada
Rest of the North America
Europe United Kingdom
Germany
France
Italy
Rest of the Europe
Asia-Pacific China
India
South Korea
Rest of the Asia-Pacific
South America Brazil
Argentina
Rest of the South America
Middle-East and Africa Saudi Arabia
United Arab Emirates
Iran
Rest of the Middle-East and Africa
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Oilfield Equipment Market Research Faqs

How big is the Oilfield Equipment Market?

The Oilfield Equipment Market size is expected to reach USD 240.31 billion in 2025 and grow at a CAGR of 2.67% to reach USD 274.09 billion by 2030.

What is the current Oilfield Equipment Market size?

In 2025, the Oilfield Equipment Market size is expected to reach USD 240.31 billion.

Who are the key players in Oilfield Equipment Market?

Schlumberger Limited, Baker Hughes Company, Halliburton Company, Weatherford International PLC and Tenaris SA are the major companies operating in the Oilfield Equipment Market.

Which is the fastest growing region in Oilfield Equipment Market?

North America is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Oilfield Equipment Market?

In 2025, the North America accounts for the largest market share in Oilfield Equipment Market.

What years does this Oilfield Equipment Market cover, and what was the market size in 2024?

In 2024, the Oilfield Equipment Market size was estimated at USD 233.89 billion. The report covers the Oilfield Equipment Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Oilfield Equipment Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Oilfield Equipment Industry Report

Statistics for the 2025 Oilfield Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Oilfield Equipment analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Oilfield Equipment Market Report Snapshots