The global market for mining and oil & gas field machinery manufacturing reached $265 billion in 2016 and should reach $324.1 billion in 2020 at a compound annual growth rate (CAGR)of 5.2% for the period of 2016-2020

LONDON, Dec. 4, 2017 /PRNewswire/ --

• The global market for mining and oil & gas field machinery manufacturing reached $265 billion in 2016 and should reach $324.1 billion in 2020 at a compound annual growth rate (CAGR)of 5.2% for the period of 2016-2020.



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• Asia-Pacific market is expected to grow from $59.9 billion in 2016 to $74.8 billion in 2020 at a CAGR of 5.7% from 2016 through 2020.
• Western Europe market is expected to grow from $30.1 billion in 2016 to $34.4 billion in 2020 at a CAGR of 3.4% from 2016 through 2020.

Chapter 1: Introduction
BCC Research's goal in performing this study was to determine the global market and future demand growth for mining and oil & gas field machinery manufacturing over the five-year period from 2016 through 2020. Of particular focus was characterizing and quantifying the potential of the market for mining and oil & gas field machinery manufacturing by geography, and product (i.e., oil & gas field machinery and equipment manufacturing, mining machinery and equipment manufacturing, and others).

The report also evaluates the market across each geography. Opportunities in each type of geography have been discussed in detail. Factors that affect the market such as drivers, restraints, and trends have been discussed. The key objective was to present a comprehensive discussion of where the state-of-theart is in mining and oil & gas field machinery manufacturing and forecast the future commercial potential for the key market segments.

This discussion provides a basis for companies to make strategic choices about developing new products and markets or deciding which applications are needed in their organizations. The study will benefit mining and oil & gas field machinery manufacturers, providers of raw materials, users of mining and oil & gas field machinery, governments around the world, and others.

Study Goals and Objectives
• To sum up the global mining and oil & gas field machinery manufacturing market size.
• To estimate the growth rate of the global mining and oil & gas field machinery manufacturing market.
• To segment the market in the deepest possible way.
• To provide market numbers and growth rates at geographically.
• To identify major drivers and restraints.
• To identify key trends and technology updates in the field.

Reasons for Doing This Study
Technological advances such as cloud computing, 3D printing, 3D mapping, autonomous vehicles, machine learning, automation and wearable technologies has led to an increase in the demand for oil and gas and mining equipment globally. Global industry leaders and large organizations see an expanded role for product development, investment in autonomous machinery, 3D printing, and 3D mapping in the mining and oil & gas field machinery manufacturing industry.

The global mining and oil & gas field machinery manufacturing market is growing due to increased demand for oil and gas products, and steel and other metals and mineral products, decline in commodity prices, and globalization. These factors along with political support in form of tax waivers and subsidies offered by national and state governments for oil and gas, coal and other mineral exploration companies will drive the mining and oil & gas field machinery manufacturing.

The market for mining and oil & gas field machinery manufacturing is marginally consolidated with a few large players, dominating the market. Major players in the market include Schlumberger Ltd., Caterpillar Inc., Komatsu Ltd., National Oilwell Varco Inc., and others.

Scope of Report
This research report categorizes the mining and oil & gas field machinery manufacturing market by type. Product type include oil & gas field machinery and equipment, mining machinery and equipment, and others.

Information Sources
• Public information via annual reports to shareholders as well as other government reports that are available for public review.
• Company marketing information, advertising, company press releases, state and local news sources, and subscription-based information.
• Online research including third-party references.
• Trade associations, directories and publications.
• Telephone interviews with both current customers and prospects.
• Various private industry sources.

Methodology
Research methodology followed in this report is a top-down approach. Various sources were used to arrive at the total market figure, which was broken down into various applications and sub markets based on primary and secondary data. Both a quantitative and qualitative approaches were used to derive the market size and growth rates. Many secondary sources were reviewed and extensive primary research was conducted with key opinion leaders, marketing managers, product managers and end users.
Market numbers have been calculated in constant U.S. dollars.

Geographic Breakdown

In this report, the geographic regions considered for market analysis include, and only include:
• Asia Pacific
• North America
• South America
• Western Europe
• Eastern Europe
• Middle East
• Africa

Mining and Oil and Gas Field Machinery Manufacturing, by Region
Asia Pacific
North America
South America
Western Europe
Eastern Europe
Middle East Africa

Mining and Oil and Gas Field Machinery Manufacturing, by Country
China
USA
Russia
Germany
Australia
Brazil
India
UK
France
Italy
Spain
Japan
Others

Chapter 2: Summary and Highlights
Global mining and oil & gas field machinery manufacturing market is currently in a very crucial phase of transformation. There is mounting pressure to reduce costs, improve quality and satisfy customers as it has been moving from a provider-driven model to a consumer-driven model. At the same time, emerging market growth, low interest rate environment, rapid urbanization, rising population, improving technology, research and development investment, and rising income levels is driving the demand for mining and oil & gas products. These factors are, in turn, generating demand for mining and oil & gas field machinery to meet high expectations.

The market for mining and oil & gas field machinery manufacturing reached a value of nearly $265 billion in 2016 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% to nearly $324.1 billion by 2020.

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