The Mining And Oil And Gas Field Machinery Manufacturing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Mining And Oil And Gas Field Machinery Manufacturing Global Market Report 2024, The mining and oil and gas field machinery manufacturing market size has grown strongly in recent years. It will grow from $178.92 billion in 2023 to $192.65 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to global demand for natural resources, infrastructure development projects, energy demand, renewal and upgradation of machinery, emerging markets and economic growth.
The mining and oil and gas field machinery manufacturing market size is expected to see strongly grown in the next few years. It will grow to $253.4 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to environmental sustainability, renewable energy transition, remote and harsh environments, mining of critical minerals, geopolitical factors. Major trends in the forecast period include advanced automation and robotics, digitalization and data analytics, focus on sustainability and environmental impact, remote monitoring and maintenance, integration of artificial intelligence.
The increased oil exploration is expected to propel the growth of the mining and oil and gas field machinery manufacturing market going forward. Oil exploration is the process of looking into locations where there may be abundant oil and natural gas resources beneath the surface of the earth. Oil exploration is used in mining and oil and gas field machinery manufacturing for drilling water wells and blasting natural gas extraction wells, including portable drilling rigs for oil and gas fields. For instance, in December 2022, according to a report shared by the U.S. Energy Information Administration, a US-based government agency, in 2021, the proven reserves of US crude oil and lease condensate had grown by 6.2 billion barrels (16 percent), to 44.4 billion barrels. Additionally, the oil production in the US increased to 11.6 million barrels per day in 2021. Therefore, the increasing oil exploration is driving the growth of the mining and oil and gas field machinery manufacturing market.
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The mining and oil and gas field machinery manufacturing market covered in this report is segmented –
1) By Machinery Types: Oil And Gas Field Machinery And Equipment, Mining Machinery and Equipment, Others Machinerys
2) By Application: On-shore, Off-shore
The monoclonal antibody market has been witnessing multiple strategic initiatives in recent years. Top companies in the market are strategically acquiring start-ups and mid-sized companies to broaden their products and services. Strategic collaborations, acquisitions, and partnership agreements help vendors expand their existing product portfolio and geographical reach. For instance, in March 2022, Sanofi S.A., a France based pharmaceutical and healthcare company specialising in the discovery, development, manufacturing, and commercialization of drugs, announced a strategic collaboration with Seagen Inc., a US-based pharmaceutical company specialising in the development and commercialization of novel, powerful monoclonal antibody-based cancer treatments. Under this agreement, the partnership will use Seagen’s and Sanofi’s exclusive monoclonal antibody (mAb) and antibody-drug conjugate (ADC) technologies to design, develop, and market ADCs for up to three cancer targets. Furthermore, Boehringer Ingelheim, a Germany-based research-driven pharmaceutical company, announced a collaboration with MabGenesis, Inc., a Japan-based biopharmaceutical company pioneering in the development of therapeutic monoclonal antibody drugs for the treatment of human diseases. Through this collaboration, Boehringer Ingelheim and MabGenesis discover and develop novel therapeutic monoclonal antibodies for the treatment of various diseases and strategic research and development strategies. Companies in the industry are increasingly realigning their portfolios and pursuing profitable inorganic growth opportunities. Additionally, M&A interest is also being fueled by stronger corporate balance sheets, liquid debt markets, and continued favourable interest rates globally.
The mining and oil and gas field machinery manufacturing market report table of contents includes:
1. Executive Summary
2. Mining And Oil And Gas Field Machinery Manufacturing Market Characteristics
3. Mining And Oil And Gas Field Machinery Manufacturing Market Trends And Strategies
4. Mining And Oil And Gas Field Machinery Manufacturing Market – Macro Economic Scenario
5. Global Mining And Oil And Gas Field Machinery Manufacturing Market Size and Growth
……………….
31. Global Mining And Oil And Gas Field Machinery Manufacturing Market Competitive Benchmarking
32. Global Mining And Oil And Gas Field Machinery Manufacturing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Mining And Oil And Gas Field Machinery Manufacturing Market
34. Mining And Oil And Gas Field Machinery Manufacturing Market Future Outlook and Potential Analysis
35. Appendix
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