The increase of oil and gas exploration drives demand for extraction equipment. Drilling is the main kind of various extraction equipments, accounting for above 70% of the total production value of petroleum extraction equipment industry. Demand for drilling will maintain a certain growth in the future globally, but the growth rate will decline.
In 2007, china has 476 petroleum extraction equipment manufacturers with a considerable scale, the total production value of china petroleum extraction equipment industry was CNY57.64 billion, accounting for 0.79% of the total production value of china machinery industry, the proportion was slightly higher than 2006.
In 2007, the import & export value of China petroleum extraction equipments totaled at US $2.14 billion, up 26.73% year on year; of which US $329 million was from import, up 90.31% year on year, US $1.81 billion was from export, up 19.46% year on year.
Import & Export Value of China Petroleum Extraction Equipments in 2007
Source: ResearchInChina
Based on authoritative statistics from National Bureau of Statistics, General Administration of Customs and China Machinery Industry Federation, this report in-depth analyzes China petroleum extraction equipment industry on the aspects of manufacturing, sales, market situation, competitions, products, import and export.