The European oilfield equipment market is expected to reach USD 18.71 billion by 2022, according to a new report by Grand View Research, Inc. Horizontal and directional drilling activities are expected to drive revenue growth over the forecast period. In these processes, the well is turned horizontal or to a specific target or location. These flexible drilling techniques have already emerged as a separate growth industry in North America and are now expected to gain importance in other regions including Europe. Declining crude oil prices have been a major factor inhibiting the regional oilfield equipment market in the recent past. Stable crude oil prices in the near future is expected to help in oilfield equipment industry’s recovery.
http://www.grandviewresearch.com/industry-analysis/europe-oilfield-equipment-market
No comments:
Post a Comment