The value of the global oilfield equipment market is expected to amount to 211 billion U.S. dollars in 2020. This would be lower than the market value reached in 2016 during the last oil price crash. The decline is a result of the oil crisis following a drastic fall in consumer demand due to the coronavirus pandemic and production increases by Saudi Arabia and Russia in a bid to gain greater market shares.
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Spears, & New York Times. (April 1, 2020). Value of oilfield equipment market worldwide from 2014 to 2020 (in billion U.S. dollars) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 30, 2026, from /statistics/463345/global-oilfield-equipment-market-size/
Spears, und New York Times. "Value of oilfield equipment market worldwide from 2014 to 2020 (in billion U.S. dollars)." Chart. April 1, 2020. ÌÇÐÄÆƽâ°æ. Accessed July 30, 2026. /statistics/463345/global-oilfield-equipment-market-size/
Spears, New York Times. (2020). Value of oilfield equipment market worldwide from 2014 to 2020 (in billion U.S. dollars). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 30, 2026. /statistics/463345/global-oilfield-equipment-market-size/
Spears, and New York Times. "Value of Oilfield Equipment Market Worldwide from 2014 to 2020 (in Billion U.S. Dollars)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 1 Apr 2020, /statistics/463345/global-oilfield-equipment-market-size/
Spears & New York Times, Value of oilfield equipment market worldwide from 2014 to 2020 (in billion U.S. dollars) ÌÇÐÄÆƽâ°æ, /statistics/463345/global-oilfield-equipment-market-size/ (last visited July 30, 2026)
Value of oilfield equipment market worldwide from 2014 to 2020 (in billion U.S. dollars) [Graph], Spears, & New York Times, April 1, 2020. [Online]. Available: /statistics/463345/global-oilfield-equipment-market-size/
