4 MIN. READ
The oil and gas field machinery manufacturing market, like many manufacturing markets today, is in a consistent state of fluctuation.
For salespeople and marketers, keeping track of the market at large can be tricky, but understanding some of the largest companies and their values can aid you in taking the right sales approach.
According to data collected by MNI, compiler of the industrial data that powers IndustrySelect, there are currently 1,010 oil and gas field machinery manufacturers in the U.S. 17% of these companies are publicly-owned, while 1% are women-owned. Oil & gas machinery manufactureres in the U.S. are major exporters, with 54% reporting international distribution, while 12% report importing materials.
Globally, the industry remains strong, valuing at around $324 billion and expanding at a compound annual growth rate (CAGR) of 5.2%3.
Further Reading: Key Facts on the U.S Industrial Machinery Manufacturing Sector
The following nine companies are currently the fastest growing oil and gas field machinery manufacturers in the US market.
|COMPANY||EMPLOYEES ON SITE||CITY||STATE|
|Schlumberger Technology Corp.||2,100||Sugar Land||TX|
|Schlumberger Technology Corp. - DT&R Div.||2,000||Houston||TX|
|Baker Hughes Co.||1,500||Houston||TX|
|Halliburton Energy Services, Inc.||1,500||Houston||TX|
|Weir Pumps, Inc.||1,000||Fort Worth||TX|
|National Oilwell Varco, Inc.||975||Orange||CA|
|Baker Hughes Oilfield Operations, LLC||900||Houston||TX|
1. Halliburton Co.
Thanks to its political entanglements with figures such as Dick Cheney, Halliburton is something of a household name in the US. Despite any public image issues, the company's relentless dedication to expansion and cutting-edge technology have kept it moving forward at an impressive pace.
2. Schlumberger Technology Corp.
With Schlumberger's commitment to technological innovation, the company has enabled itself and the industry at large to advance dramatically. The company is making significant strides in green energy and continues to be a world leader.
3. Schlumberger Technology Corp. DT&R Division
Another branch of the Schlumberger empire, the company's DT&R Division showcases just how committed to cutting-edge technology the company is.
4. Baker Hughes Co.
A General Electrics company, Baker Hughes6provides energy enterprises with leading technology solutions to help them create and deliver best-in-class services. Baker stands apart for its focus on corporate responsibility.
5. Halliburton Energy Services, Inc.
Halliburton's Energy Services offshoot could make this list two more times if we were simply listing companies by number of employees stationed at different plants. The sheer size and dominance of Halliburton, as previously mentioned, make it a stand-out enterprise.
6. WesternGeco, LLC
Schlumberger actually owns WesternGeco. WesternGeco helps companies use seismic readings and other landscape evaluations to determine the best locations for oil withdrawal.
7. Weir Pumps, Inc.
Weir Pumps is unique for the company's commitment to improving worker safety at any cost. The company is also focused on efficient, sustainable products, making them a forerunner in an era of socially conscious and responsible corporations.
8. National Oilwell Varco, Inc.
National Oilwell Varco supplies companies with drilling equipment and drill bits that increase withdrawal volume while decreasing withdrawal times. Varco's commitment to high-performance products has led the company to continued success over the years.
9. Baker Hughes Oilfield Operations, LLC
Baker Hughes makes the list again, this time specifically for the company's Oilfield Operations division. Displaying the business's trademark commitment to quality and innovation, Baker Hughes' Oilfield Operations wing allows the company to assist with oil withdrawal specifically.
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Editor's note: This article was originally published in January 2020. It is updated annually to reflect new statistics in the oil & gas sector.