Top Oilfield Equipment Companies

The growth of the upstream oil and gas industry (i.e., oil & gas sector) has been an essential component of the growth of the oilfield equipment market around the world due to increased demand for energy worldwide. The growing consumption of fossil fuels has caused the need for new drill sites to be developed and to maintain production levels at existing field locations. Therefore, this increased amount of drilling rig purchase also increases the overall capital spending on drilling rigs, well intervention tools, pressure control equipment, and production systems. The greater the amount of development related to offshore oil and gas development, and to the development of unconventional oil and gas sources (e.g., shale), then there is a need for highly specialized/high-performance oilfield equipment to be developed for those types of oilfield equipment.

Industry Overview

According to SkyQuest Technology “Global Oilfield Equipment Market” By Equipment (Drilling Equipment, Field Production Machinery), By Application (Onshore, Offshore), By Well Type, By Region - Industry Forecast 2025-2032,” Global oilfield equipment market is projected to grow at a CAGR of over 3.9% by 2026-2033, market growth is primarily driven by upstream capital expenditure recovery, offshore project approvals, and redevelopment of mature fields, with automation acting as an efficiency enabler.. A key factor shaping the growth of the global oilfield equipment market is rapid technological advancement and equipment modernization. As operators face pressure to lower operational costs and improve safety, they increasingly adopt automated, digitally enabled, and high-efficiency equipment.

Top 10 Global Oilfield Equipment Companies

1. Schlumberger NV

Schlumberger NV is a global leader in oilfield equipment and services, delivering advanced technology solutions that support efficient and safe hydrocarbon exploration and production worldwide. Founded in 1926, the company operates in more than 100 countries and serves major national and international oil companies across onshore and offshore environments. Schlumberger’s core offerings include drilling systems, well construction, reservoir characterization, production equipment, and digital oilfield technologies. The company's recent developments of automation, data analytics, and low-carbon technologies have created a strong portfolio dedicated to enabling improved performance and supporting a more sustainable energy transition in the global oilfield equipment industry.

2. Baker Hughes Company

As a global leader in energy technology, Baker Hughes delivers the most advanced oilfield equipment & services to west/global markets for exploration, drilling, and production, as well as for other suppliers in over 120 countries. Baker Hughes was founded in 1908 and today has more than 30,000 employees worldwide, serving a wide variety of customers, including NOCs (national oil companies), IOCs (international oil companies), and energy infrastructure development companies. The company’s core products focus on drilling and evaluation tools (DETS), well completion systems (WCSS), production systems (PSS), turbines (TUMS) and digital oilfield solutions (DOSs). The last few years have seen a dramatic increase in baker hughes focus on automation, condition monitoring, and the development of emissions reduction technology.

3. Halliburton Company

Halliburton Company is a global leader in oilfield equipment and services, supporting energy operators throughout the entire lifecycle of oil and gas reservoirs. Founded in 1919, Halliburton operates in more than 70 countries around the world and provides a variety of services to both domestic and international oil-producing companies on their onshore and offshore operations. Halliburton offers a wide range of products and services related to drilling systems, cementing services, completion of a well formation, assessment of the well formation and improving production from the well. In the last few years, Halliburton has begun to build upon their product line by utilizing digital technology, developing Automated and Integrated Well Development Solutions to help operators increase their operational efficiencies, cut costs, and improve safety conditions in the global Oilfield Equipment market.

4. Weatherford International plc

Weatherford International plc is a worldwide supplier of oilfield equipment and services. They provide advanced solutions for increasing the effectiveness of well construction, enhancing production efficiency, and providing greater asset performance within the Energy sector. Since 1987 Weatherford has operated in over 75 nations as a service provider to oil and gas operators on both land and sea. Weatherford's primary products/services are drilling and evaluation systems (hardware/software), completion systems, artificial lift systems, and optimization systems for production. Lately Weatherford has focused on developing Digital Oilfield Platforms, Automation and Integrated Service Models to assist operators in lowering their operational expenses, increasing their well lives, and improving the overall production of oil & gas reservoirs on a global scale.

5. NOV Inc.

NOV Inc. (National Oilwell Varco) is a leading global manufacturer and supplier of oilfield equipment and technologies that support drilling, completion, and production operations across the energy industry. Founded in 1862, the company operates a broad international manufacturing and service network, supplying equipment to onshore and offshore oil and gas projects worldwide. NOV’s core portfolio includes drilling rigs, rig components, wellbore technologies, completion tools, and production systems. In recent times, the focus of the company has been on automating their equipment and using digital rig technology to improve service to customers in the global oilfield equipment industry by improving the reliability of operations and reducing time between repairs.

6. Tenaris S.A.

The Tenaris S.A. Corporation is one of the world's largest producers and distributors of tubes and tubular products for the oil and Gas Industry and plays a very important part in the world market for oilfield service equipment. The company was founded in 2001 and operates through a global network of manufacturing and service facilities within the Americas; Europe; the Middle East; and Asia. The company's primary products are both seamless and weldable OCTG; (Oil Country Tubular Goods); line pipe; premium tapered threads; and pipe related services. Through continued investment in advanced metallurgy; digital supply-chain supporting services; and localized technical support; Tenaris has further solidified its leadership position by providing operators with the tools to better manage the integrity of their wells; attract greater operational efficiencies; and maintain long-term reliability of their assets.

7. TechnipFMC plc

TechnipFMC plc is a global leader in integrated energy projects and oilfield equipment solutions, supporting offshore and onshore oil and gas developments worldwide. Formed in 2017 through the merger of Technip and FMC Technologies, the company operates across major energy regions, serving national and international operators. Its core offerings include subsea production systems, surface wellhead equipment, offshore engineering, and integrated EPCI (engineering, procurement, construction, and installation) services. Recently, TechnipFMC has been concentrating on adopting an "off-the-shelf" type of subsea architecture, developing digital tools for executing projects and providing "lifecycle services" to enhance the speed of delivering projects, reduce costs, and improve operational efficiencies in the worldwide oil field equipment market.

8. Oceaneering International, Inc.

Oceaneering International, Inc., founded in 1964, is a global supplier of specialized equipment used in the oilfield industry; it conducts most of its business offshore and in deep waters. Oceaneering is based out of Houston but operates all over the globe and provides support to energy producers operating in the largest offshore oil & gas-producing basins. Oceaneering’s core products include remotely operated vehicles (ROV), submarine intervention tools, and equipment for maintenance inspection and repairs, umbilicals (a wire or hose bundle used to connect offshore rigs to the surface), and asset integrity solutions. In the last several years, Oceaneering has advanced its capabilities significantly through adding advanced robotics, autonomous systems, and digital asset monitoring technologies that allow safer underwater operations with less human involvement and better overall lifecycle management of oilfield equipment.

9. Saipem S.p.A.

Saipem S.p.A. is a global engineering and construction company providing advanced oilfield equipment and services for complex onshore and offshore energy projects. Founded in 1957, the company operates in more than 60 countries, serving major national and international oil and gas operators. The main services Saipem offers include offshore and onshore engineering, drilling, subsea installation, pipeline construction, and field development. Over the last few years Saipem has invested heavily into deep-water and digital technology, and developing solutions for the energy transition. These investments have enhanced Saipem’s ability to execute projects more efficiently with less impact on the environment while continuing to provide customers with long term value from their investments made in the global oilfield equipment marketplace.

10. Welltec A/S

Founded in 1994, Welltec is a worldwide supplier of advanced oil field equipment and well intervention solutions. The company focuses on providing innovative technologies to improve well integrity and operational efficiency. The company continues to support onshore and offshore oil and gas operators across numerous reservoir types globally. Welltec offers robotic well intervention tools, completion technology, electric line services, and well integrity solutions as part of its core offerings. Welltec has also been focusing on digitalization, automation, and electrically powered interventions to reduce rig reliance; reduce operational risk; and reduce environmental impact, thereby establishing Welltec as a leader in the digital transformation of the oilfield technology sector.

Other Leading Global Oilfield Equipment Companies

• Hilong Group of Companies
• MRC Global
• DNOW Inc.
• Integra
• ERUI International
• Bentec GmbH Drilling & Oilfield Systems
• Diamond Offshore Drilling, Inc.
• China Oilfield Services Ltd.
• Aker Solutions ASA
• Acteon Group Ltd.

Conclusion

The oilfield equipment market is expected to grow steadily as continued increases in upstream (production and exploration) investment and continual need for mature and complex reservoirs to continue producing. As more development occurs offshore and in deep water as well as the development of additional unconventional resources, demand for specialist high-performance machinery will continue. In addition, as technological developments increase rapidly (e.g., the use of automated production and digital tools) the ways in which equipment is manufactured and operated, improving efficiency and safety and controlling costs, are changing rapidly as well. Major players in this field are growing their businesses through the innovation and creation of packages of integrated products and services, thereby ensuring that their businesses will remain competitive in the long term. All three factors of energy demand, investment capital, and technology-based transformation will continue to drive the expansion of this market over the duration of the forecast period.