$20.7bn
$X.Xbn
47,127
709
$X.Xbn
Mining, oil and gas machinery manufacturers have endured declines in recent years. The poor performance of various downstream markets, including gold, silver, iron ore and coal miners, have contributed to declines. Industry-wide revenue has been falling at a CAGR of 2.0% over the past five years to total an estimated $20.7 billion in 2024, including an estimated decrease of 1.8% in 2024.
Industry revenue has declined at a CAGR of 2.0 % over the past five years, to reach an estimated $20.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
AP Moller - Maersk Group | 1,657.1 | 76.2 | 4.6 | |
Caterpillar Inc. | 1,308.3 | 173.1 | 13.2 | |
Nov Inc. | 1,305.0 | -17.2 | -1.3 |
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Mining, Oil & Gas Machinery Manufacturing in the US
Industry revenue is measured across several distinct product and services lines, including Mining machinery, Rotary oil and gas field drilling machinery and equipment and Oil and gas field production machinery and equipment excluding pumps. Mining machinery is the largest segment of the Mining, Oil & Gas Machinery Manufacturing in the US.
Expenditure on oil and gas machinery and equipment has remained stable but endured headwinds
Mining, oil and gas machinery companies manufacture oil and gas field equipment and underground mining machinery. Products include rotary and portable drilling rigs and parts; crushing, pulverizing, screening and mineral processing machinery; and derricks, substructures and related accessories. Parts are included, but support services are excluded.
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NAICS 33313 - Mining, Oil & Gas Machinery Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Volatile commodity prices hindered manufacturers. Following the outbreak of COVID-19, commodity prices plummeted alongside investment in new machinery. Climbing import penetr...
Learn about an industry's products and services, markets and trends in international trade.
Manufacturers have faced headwinds selling to oil and gas field producers and contractors. Climbing import penetration has hindered growth in this market.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Various resources in the Southeast justify concentration in the region. Ore deposits in the Appalachian areas and liquified natural gas production in Louisiana attract manufa...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Manufacturers face considerable import penetration. Competition from foreign producers is stiff because their low wages enable them to offer lower prices.
Learn about the performance of the top companies in the industry.
Oil machinery providers amass the most market share. AP Moller Maersk and Halliburton accumulated considerable market share by providing cutting-edge oil and gas equipment.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Tariffs and private associations assist mining, oil and gas machinery manufacturers. The Paycheck Protection Program immensely helped manufacturers with payroll, rent, utilit...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit has inched upward. Over the past five years, falling steel prices and wage costs have benefitted machinery manufacturers’ profit.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Mining, Oil & Gas Machinery Manufacturing in the US industry in United States is $20.7bn in 2024.
There are 709 businesses in the Mining, Oil & Gas Machinery Manufacturing in the US industry in United States, which has declined at a CAGR of 0.3 % between 2019 and 2024.
The market size of the Mining, Oil & Gas Machinery Manufacturing in the US industry in United States has been declining at a CAGR of 2.0 % between 2019 and 2024.
Over the next five years, the Mining, Oil & Gas Machinery Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Mining, Oil & Gas Machinery Manufacturing market in United States are AP Moller - Maersk Group, Caterpillar Inc. and Nov Inc.
Manufacturing oil and gas field machinery and equipment and Manufacturing rotary oil and gas field drilling machinery and equipment are part of the Mining, Oil & Gas Machinery Manufacturing in the US industry.
The company holding the most market share in United States is AP Moller - Maersk Group.
The level of competition is high and steady in the Mining, Oil & Gas Machinery Manufacturing in the US industry in United States.