{"id":8166,"date":"2016-10-07T00:00:00","date_gmt":"2016-10-07T00:00:00","guid":{"rendered":"https:\/\/www.westwoodenergy.com\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share\/"},"modified":"2022-09-07T02:51:52","modified_gmt":"2022-09-07T01:51:52","slug":"world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share","status":"publish","type":"post","link":"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share","title":{"rendered":"World Oilfield Equipment Market \u2013 Onshore Set to Recover Expenditure Share"},"content":{"rendered":"<h2 class=\"color-red\"><strong>World Oilfield Equipment Market \u2013 Onshore Set to Recover Expenditure Share<\/strong><\/h2>\n<p>Douglas-Westwood\u2019s (DW) Q3 <a href=\"http:\/\/www.douglas-westwood.com\/report\/drilling-and-production-forecast\/world-oilfield-equipment-market-forecast-2016-2020\/\">World Oilfield Equipment Market Forecast<\/a> highlights the strong growth potential of the onshore oilfield equipment (OFE) sector through the forecast period (2016-2020). From lows of $61 billion (bn) in 2016, global onshore expenditure is set to increase at a rate of 8% year-on-year through the forecast period to $83bn by 2020 \u2013 driven by a recovery in North American shale drilling.<\/p>\n<p>Onshore growth will be offset by developments offshore, where the story is less promising. Offshore OFE expenditure is expected to decline from $67bn to $43bn between 2016 and 2020, primarily due to a significant drop in project sanctioning and an oversupply of drilling units. The decline in offshore expenditure will lead to a flat global profile through to 2020 for total OFE expenditure, which is set to total $125bn in 2020, down from $128bn in 2016.<\/p>\n<p>Declining offshore spend coupled with increasing onshore activity will result in onshore recovering this share of expenditure from lows of 48% in 2016 to 66% in 2020 \u2013 higher than at any point in DW\u2019s hindcast. Due to the recovery in onshore OFE expenditure, DW expects equipment lines associated with onshore drilling activity to exhibit strong growth profiles through the forecast period \u2013 Conveyancing Tools, Downhole Drilling Equipment and Tubular Goods will show particularly strong growth profiles, increasing 10%, 13% and 13% year-on-year, respectively.<\/p>\n<p>DW\u2019s analysis has highlighted key growth sectors onshore, providing much-needed opportunities for manufacturers in a dampened market.<\/p>\n<p><a class=\"btn btn-red small\" href=\"http:\/\/www.douglas-westwood.com\/wp-content\/uploads\/2016\/01\/World-Oilfield-Equipment-Market-\u2013-Onshore-Set-to-Recover-Expenditure-Share.pdf\">World Oilfield Equipment Market \u2013 Onshore Set to Recover Expenditure Share<\/a><\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Douglas-Westwood\u2019s (DW) quarterly publication the\u00a0<a href=\"http:\/\/www.douglas-westwood.com\/report\/drilling-and-production-forecast\/world-oilfield-equipment-market-forecast-2016-2020\/\">World Oilfield Equipment Market Forecast 2016-2020<\/a> provides unique insight into the global oilfield equipment (OFE) market. The underlying data and models have been fully updated for the latest Q3 2016 report, derived from DW\u2019s proprietary <a href=\"http:\/\/www.douglas-westwood.com\/reports\/drilling-and-production-forecast\/\"><em>\u2018Drilling &amp; Production Database\u2019<\/em><\/a>, an in-house information system <strong>exclusive<\/strong> to DW and provides unique insight into the sector. The outputs include historic, current and future expenditure forecasts for 60 diverse\u00a0oilfield equipment lines including blowout preventers, frac equipment, compressors, pumps, production trees and ESPs.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>World Oilfield Equipment Market \u2013 Onshore Set to Recover Expenditure Share Douglas-Westwood\u2019s (DW) Q3 World&#8230;<\/p>\n","protected":false},"author":1,"featured_media":9404,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[48,50],"tags":[],"class_list":{"0":"post-8166","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"category-press-releases"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>World Oilfield Equipment Market \u2013 Onshore Set to Recover Expenditure Share - Westwood<\/title>\n<meta name=\"description\" content=\"Global onshore expenditure is set to increase at a rate of 8% year-on-year through the forecast period to $83bn by 2020.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Oilfield Equipment Market \u2013 Onshore Set to Recover Expenditure Share - Westwood\" \/>\n<meta property=\"og:description\" content=\"Global onshore expenditure is set to increase at a rate of 8% year-on-year through the forecast period to $83bn by 2020.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share\" \/>\n<meta property=\"og:site_name\" content=\"Westwood\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-07T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-07T01:51:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2019\/05\/World-Oilfield-Equipment-Market-Forecast.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share\",\"url\":\"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share\",\"name\":\"World Oilfield Equipment Market \u2013 Onshore Set to Recover Expenditure Share - Westwood\",\"isPartOf\":{\"@id\":\"https:\/\/www.westwoodenergy.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2019\/05\/World-Oilfield-Equipment-Market-Forecast.jpg\",\"datePublished\":\"2016-10-07T00:00:00+00:00\",\"dateModified\":\"2022-09-07T01:51:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.westwoodenergy.com\/#\/schema\/person\/d877ec91e6b3cc3a238d98f0a16617e8\"},\"description\":\"Global onshore expenditure is set to increase at a rate of 8% year-on-year through the forecast period to $83bn by 2020.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share#primaryimage\",\"url\":\"https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2019\/05\/World-Oilfield-Equipment-Market-Forecast.jpg\",\"contentUrl\":\"https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2019\/05\/World-Oilfield-Equipment-Market-Forecast.jpg\",\"width\":2000,\"height\":1300,\"caption\":\"World Oilfield Equipment Market Forecast Header\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.westwoodenergy.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"World Oilfield Equipment Market \u2013 Onshore Set to Recover Expenditure Share\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.westwoodenergy.com\/#website\",\"url\":\"https:\/\/www.westwoodenergy.com\/\",\"name\":\"Westwood\",\"description\":\"Westwood Global Energy Group\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.westwoodenergy.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.westwoodenergy.com\/#\/schema\/person\/d877ec91e6b3cc3a238d98f0a16617e8\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.westwoodenergy.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/8664e8203c841b98af3195537b2b4688e92a83cc890c5c63befabecd05f588cc?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/8664e8203c841b98af3195537b2b4688e92a83cc890c5c63befabecd05f588cc?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\/\/www.westwoodenergy.com\/author\/purr\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"World Oilfield Equipment Market \u2013 Onshore Set to Recover Expenditure Share - Westwood","description":"Global onshore expenditure is set to increase at a rate of 8% year-on-year through the forecast period to $83bn by 2020.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share","og_locale":"en_GB","og_type":"article","og_title":"World Oilfield Equipment Market \u2013 Onshore Set to Recover Expenditure Share - Westwood","og_description":"Global onshore expenditure is set to increase at a rate of 8% year-on-year through the forecast period to $83bn by 2020.","og_url":"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share","og_site_name":"Westwood","article_published_time":"2016-10-07T00:00:00+00:00","article_modified_time":"2022-09-07T01:51:52+00:00","og_image":[{"width":2000,"height":1300,"url":"https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2019\/05\/World-Oilfield-Equipment-Market-Forecast.jpg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share","url":"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share","name":"World Oilfield Equipment Market \u2013 Onshore Set to Recover Expenditure Share - Westwood","isPartOf":{"@id":"https:\/\/www.westwoodenergy.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share#primaryimage"},"image":{"@id":"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share#primaryimage"},"thumbnailUrl":"https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2019\/05\/World-Oilfield-Equipment-Market-Forecast.jpg","datePublished":"2016-10-07T00:00:00+00:00","dateModified":"2022-09-07T01:51:52+00:00","author":{"@id":"https:\/\/www.westwoodenergy.com\/#\/schema\/person\/d877ec91e6b3cc3a238d98f0a16617e8"},"description":"Global onshore expenditure is set to increase at a rate of 8% year-on-year through the forecast period to $83bn by 2020.","breadcrumb":{"@id":"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share#primaryimage","url":"https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2019\/05\/World-Oilfield-Equipment-Market-Forecast.jpg","contentUrl":"https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2019\/05\/World-Oilfield-Equipment-Market-Forecast.jpg","width":2000,"height":1300,"caption":"World Oilfield Equipment Market Forecast Header"},{"@type":"BreadcrumbList","@id":"https:\/\/www.westwoodenergy.com\/news\/world-oilfield-equipment-market-onshore-set-to-recover-expenditure-share#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.westwoodenergy.com\/"},{"@type":"ListItem","position":2,"name":"World Oilfield Equipment Market \u2013 Onshore Set to Recover Expenditure Share"}]},{"@type":"WebSite","@id":"https:\/\/www.westwoodenergy.com\/#website","url":"https:\/\/www.westwoodenergy.com\/","name":"Westwood","description":"Westwood Global Energy Group","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.westwoodenergy.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.westwoodenergy.com\/#\/schema\/person\/d877ec91e6b3cc3a238d98f0a16617e8","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.westwoodenergy.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/8664e8203c841b98af3195537b2b4688e92a83cc890c5c63befabecd05f588cc?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/8664e8203c841b98af3195537b2b4688e92a83cc890c5c63befabecd05f588cc?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/www.westwoodenergy.com\/author\/purr"}]}},"_links":{"self":[{"href":"https:\/\/www.westwoodenergy.com\/wp-json\/wp\/v2\/posts\/8166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.westwoodenergy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.westwoodenergy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.westwoodenergy.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.westwoodenergy.com\/wp-json\/wp\/v2\/comments?post=8166"}],"version-history":[{"count":0,"href":"https:\/\/www.westwoodenergy.com\/wp-json\/wp\/v2\/posts\/8166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.westwoodenergy.com\/wp-json\/wp\/v2\/media\/9404"}],"wp:attachment":[{"href":"https:\/\/www.westwoodenergy.com\/wp-json\/wp\/v2\/media?parent=8166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.westwoodenergy.com\/wp-json\/wp\/v2\/categories?post=8166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.westwoodenergy.com\/wp-json\/wp\/v2\/tags?post=8166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}