LONDON--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions of release dated July 9, 2018.
The corrected release reads:
GLOBAL OIL WELL CHRISTMAS TREE MARKET 2018-2022 | RISING INVESTMENTS IN THE SHALE INDUSTRY TO BOOST GROWTH | TECHNAVIO
The global oil well Christmas tree market 2018-2022 is expected to grow to USD 10.5 billion by 2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the increase in global rig count. Rigs are a key determinant of performance of the oil drilling industry in the market and provide the financial health information of energy-related companies. The increase in the number of rigs is directly proportional to the number of investors and energy-related companies investing in the activities of the oil and gas industry.
This market research report on the global oil well Christmas tree market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rising investments in the shale industry as one of the key emerging trends in the global oil well Christmas tree market:
Global oil well Christmas tree market: Rising investments in the shale industry
In countries such as the US, the shale industry is witnessing an increase in investments by financiers, which is urging oil producers, to increase their output. Though the influx of investments in the conventional crude oil production is moderately slow, IEA has projected a rise in investments in the oil and gas industry during the forecast period. On the other hand, the shale industry is likely to witness a higher growth rate due to increased investments. Oil companies are focusing on investing in short-cycle shale projects that have low risk and can provide a quick return on investment.
“In 2017, China Energy Investment Corporation announced its plant to invest over USD 83 billion in chemical manufacturing and shale gas development projects. This is one of the major investments by the company, which will be mutually beneficial for both China and the US,” says a senior analyst at Technavio for research on enterprise application.
Global oil well Christmas tree market: Segmentation analysis
This market research report segments the global oil well Christmas tree market into the following applications (onshore and offshore) and key regions (the Americas, APAC, and EMEA).
The onshore segment held the largest market share in 2017, accounting for nearly 65% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC held the highest share of the global oil well Christmas tree market in 2017, accounting for a market share of approximately 39%. The market share occupied by this region is anticipated to decrease by nearly 2% during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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