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Article Title: Oilfield Equipment
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Publication: Upstream Pumping Solutions, 6/17/2013
Freedonia Study: World Oilfield Equipment (2937)

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Gains in oilfield equipment demand will be fueled by a substantial increase in oil and gas production as the world economy rebounds from the general economic weakness triggered by the 2009 global recession. Growth in oil and gas investment is expected to be especially strong in developing regions, in which improvements in infrastructure will contribute to more drilling activity.
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Article Title: Global Demand for Oilfield Equipment to Reach $109 Billion in 2016
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Publication: Impeller, 10/26/2012
Freedonia Study: World Oilfield Equipment (2937)

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Through 2016, most of the faster growth in oilfield equipment demand will occur in a variety of developing countries, while gains in developed markets will tend to be more moderate. China, which dominates demand in the Asia/Pacific region, will experience steady growth as its energy consumption continues to rise. Russia, the world’s largest energy producer, will see oilfield equipment demand grow at a below average pace, but this will represent a substantial improvement on a weak 2006-2011 performance. Growth in demand for oilfield equipment will be especially rapid in Brazil, which is expected to see a major boom in oil and gas production as a number of large discoveries from the last several years are developed to productivity.
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