North Sea Oilfield Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The North sea oilfield equipment market is segmented by Equipment Type (Drilling Equipment, Production Equipment, and Other Equipment Types) and Geography (United Kingdom, Norway, and the Rest of North Sea Region). The report offers the market size and forecasts in revenue (USD Million) for all the above segments.

North Sea Oilfield Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

North Sea Oilfield Equipment Market Size

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North Sea Oilfield Equipment  - Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 2.50 %
Market Concentration Low

Major Players

North Sea Oilfield Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

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North Sea Oilfield Equipment Market Analysis

The North Sea Oilfield Equipment Market is expected to register a CAGR of greater than 2.5% during the forecast period.

The market was severely impacted by the COVID-19 pandemic in 2020. Presently, the market has now reached pre-pandemic levels.

  • Over the medium term, the increasing investments in the gas sector due to growing demand from the power sector and heating applications are likely to drive the market during the studied period.
  • On the other hand, the shift toward renewable energy sources and volatility of oil & gas prices are leading to uncertainty among oil and gas operators and are expected to restrain the growth of the North Sea oilfield equipment market in the coming years.
  • Nevertheless, the emergence of new technologies such as digitalization and automation, new drilling methods, and next-generation electric fracking methods are expected to provide opportunities to the players involved in the future.
  • Norway is expected to witness significant growth during the forecast period, owing to the increasing investments and active oil and gas exploration and production activities.

North Sea Oilfield Equipment Industry Overview

The North Sea Oilfield Equipment market is partially fragmented. Some of the major companies include Schlumberger Ltd, Halliburton Company, Baker Hughes Company, Weatherford International PLC, and Tenaris S.A.

North Sea Oilfield Equipment Market Leaders

  1. Schlumberger Ltd

  2. Halliburton Company

  3. Baker Hughes

  4. Weatherford International PLC

  5. Tenaris S.A.

  6. *Disclaimer: Major Players sorted in no particular order
Market Concentration - NorthSea Oilfield Equipment.png
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North Sea Oilfield Equipment Market News

  • In August 2022, Norwegian oil and gas company Aker BP submitted a plan for development and operation (PDO) of the Trell & Trine offshore project in the North Sea to the Ministry of Petroleum and Energy (MPE). The project comprises a planned investment of about USD 700 million. The Trell & Trine development is designed with three wells and two new subsea installations to be tied back to existing infrastructure on East Kameleon and further to the Alvheim FPSO. The production is scheduled to start in the first quarter of 2025, and the development is planned to be carried out in cooperation with Aker BP's alliance partners.
  • In August 2022, C-Kore Systems completed a successful campaign on a subsea oil field in the North Sea. The C-Kore tools were used to test the electrical integrity of the subsea assets, which gives quick feedback to the operator for their maintenance decisions on the field. Operators and installation contractors use these subsea testing tools globally on installation campaigns and fault-finding operations.
  • In May 2022, Equinor announced extending its contracts with Baker Hughes Norge, Halliburton AS, and Schlumberger Norge AS for integrated drilling and well services on the Norwegian continental shelf (NCS) operated by Equinor. In addition, the company has extended its contracts with the same companies and 13 other suppliers for additional services. The contracts will apply for two years from June 2022.

North Sea Oilfield Equipment Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD million, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Equipment Type
    • 5.1.1 Drilling Equipment
    • 5.1.2 Production Equipment
    • 5.1.3 Other Equipment Types
  • 5.2 Geography
    • 5.2.1 United Kingdom
    • 5.2.2 Norway
    • 5.2.3 Rest of North Sea Region

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Schlumberger Ltd
    • 6.3.2 Halliburton Company
    • 6.3.3 Baker Hughes Company
    • 6.3.4 Weatherford International PLC
    • 6.3.5 Tenaris S.A.
    • 6.3.6 Superior Energy Services Inc.
    • 6.3.7 National Oilwell Varco Inc.
    • 6.3.8 Herrenknecht Vertical GmbH
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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North Sea Oilfield Equipment Industry Segmentation

The oilfield equipment in the market study includes the equipment required by the upstream oil & gas companies at different stages of oilfield activities, such as drilling, completion, and production. The Oilfield equipment market in the North Sea is segmented by equipment type and geography. By equipment type, the market is segmented into drilling equipment, production equipment, and other equipment types. By geography, the market is segmented into United Kingdom, Norway, and the rest of North Sea region. For each segment, the market sizing and forecasts have been done based on the revenue (USD Million).

Equipment Type Drilling Equipment
Production Equipment
Other Equipment Types
Geography United Kingdom
Norway
Rest of North Sea Region
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North Sea Oilfield Equipment Market Research FAQs

What is the current North Sea Oilfield Equipment Market size?

The North Sea Oilfield Equipment Market is projected to register a CAGR of greater than 2.5% during the forecast period (2025-2030)

Who are the key players in North Sea Oilfield Equipment Market?

Schlumberger Ltd, Halliburton Company, Baker Hughes, Weatherford International PLC and Tenaris S.A. are the major companies operating in the North Sea Oilfield Equipment Market.

What years does this North Sea Oilfield Equipment Market cover?

The report covers the North Sea Oilfield Equipment Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the North Sea Oilfield Equipment Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

North Sea Oilfield Equipment Industry Report

Statistics for the 2025 North Sea Oilfield Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North Sea Oilfield Equipment analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.