Industry Analysis & Industry Trends
During the five years to 2013, the Mining, Oil and Gas Machinery Manufacturing industry has undergone a period of revenue volatility underpinned by booming global demand for mineral and energy commodities on one hand and the Great Recession on the other. The faltering global economy, credit crisis and weaker commodity prices resulted in a sharp downturn in energy and mineral exploration and production, dragging down demand for industry products. In the coming five years, however, conditions will improve as global economies seek out new oil and gas reserves, strengthening demand for related machinery... purchase to read more
Industry Report - Starting a New Business Chapter
The Mining, Oil and Gas Machinery Manufacturing industry poses 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, firms patent the products they develop. If a firm 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