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LONDON–(BUSINESS WIRE)–

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Technavio projects the all-around oil and gas upstream accessories bazaar to column a CAGR of over 3% during the anticipation period. The access in oil rig calculation is a key disciplinarian which is accepted to appulse bazaar growth. With the bit-by-bit stabilization in awkward oil prices and the accretion rig count, assay and conduct projects that were initially on authority are acceptable to resume. Also, the access in new assay and conduct projects is acceptable to accession the bazaar abeyant for oil and gas upstream accessories during the anticipation period.

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In this report, Technavio highlights the ascent investments in shale industry as one of the key arising trends in the all-around oil and gas upstream accessories market:

Rising investments in the shale industry

The shale industry is experiencing aerial investments, abnormally in the US, with financiers cloudburst in banknote to advice producers access the output. Investments in accepted awkward oil are moderately slow, with the International Energy Agency (IEA) ciphering a acceleration in investments in the oil and gas industry by about 3% in 2017. However, the shale industry is acceptable to attestant a college advance amount during the anticipation period. Oil companies are absorption on advance in short-cycle shale projects that abate risks and accommodate a quick acknowledgment on investments. For instance, the China Energy Investment Corporation affairs to advance over USD 83 billion in actinic accomplishment and shale gas development projects in West Virginia. This is one of the above investments by the aggregation in West Virginia, and it will accommodate alternate allowances to both China and the US.

According to a chief analyst at Technavio for oil and gas research, “Rising investments in the shale industry are acceptable to addition the bazaar abeyant for the all-around oil and gas upstream accessories market. Several companies, including Chevron, ConocoPhillips, and ExxonMobil, are accretion investments in the shale industry to drive assembly growth.”

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Technavio’s sample letters are chargeless of allegation and accommodate assorted sections of the address such as the bazaar admeasurement and forecast, drivers, challenges, trends, and more.

Market assay and assay through 2022

This bazaar assay address segments the all-around oil and gas upstream accessories bazaar based on appliance (exploration and drilling, achievement and production, and others) and key regions (the Americas, APAC, and EMEA).

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In 2017, the Americas bedeviled the all-around oil and gas upstream accessories bazaar with a bazaar allotment of added than 55% followed by EMEA and APAC. While the bazaar allotment of the Americas and APAC is accepted to attestant a baby access over the anticipation period, the bazaar allotment of EMEA is accepted to abatement by about 1%.

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About Technavio

Technavio is a arch all-around technology assay and advising company. Their assay and assay focuses on arising bazaar trends and provides actionable insights to advice businesses analyze bazaar opportunities and advance able strategies to optimize their bazaar positions.

With over 500 specialized analysts, Technavio’s address library consists of added than 10,000 letters and counting, accoutrement 800 technologies, spanning beyond 50 countries. Their applicant abject consists of enterprises of all sizes, including added than 100 Fortune 500 companies. This growing applicant abject relies on Technavio’s absolute coverage, all-encompassing research, and actionable bazaar insights to analyze opportunities in absolute and abeyant markets and appraise their aggressive positions aural alteration bazaar scenarios.

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