Industry Analysis & Industry Trends
Underpinned by booming global demand for mineral and energy commodities, the Mining, Oil and Gas Machinery Manufacturing industry's revenue is estimated to grow. Rising resource prices led mining and oil industries to expand existing production and increase exploration, resulting in strong demand for machinery and equipment. In the next five years, rising commodity prices and economic recovery will encourage customers in downstream sectors to spend on machinery and equipment. Additionally, heightened global efforts to discover new oil and gas reserves will further stimulate industry sales... purchase to read more
Industry Report - Starting a New Business Chapter
The Mining, Oil and Gas Machinery Manufacturing industry has several barriers to entry, namely the level of capital and intellectual property required. Mining, oil and gas field equipment is highly technical, and there is a high degree of uniqueness in many of the products manufactured as extraction conditions vary worldwide. As a result, companies patent the products they develop. If a company entering the industry wishes to use an existing patent, it must pay for it.
Many of this industry's clients exist in remote locations; therefore, industry firms need to have the capability to transport bulky products through adverse environments, such as from oil rigs in the middle of oceans... purchase to read more