National Oilwell Varco SWOT Analysis
Here is a detailed SWOT analysis of National Oilwell Varco covering strengths, weaknesses, opportunities and threats.
National Oilwell Varco Strengths
- Very diverse product lines
- Vast range of services, ranging from drilling rig technologies to providingsupply chain services
- Market leaders in supply chain management with help of their distribution network of more than 700 location
- CSR initiatives and environmental programs have been undertaken aggressively
- National Oilwell Varco has more than 110 brands under it
- Has a strong workforce of approx 50,000 employees
Above are the strengths in the SWOT Analysis of National Oilwell Varco. The strengths of National Oilwell Varco looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
National Oilwell Varco Weaknesses
- Spills and environmental violations have affected brand image
- The business is excessively dependent on finding new reserves of oil which are found very infrequently
These were the weaknesses in the National Oilwell Varco SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
National Oilwell Varco Opportunities
- Growing demand of oil field equipments
- Increase of deep water drilling
- Emergence of shale drilling outside US borders presents huge opportunity for the company
- Acquisition of Wilson leading distribution of pipe, valves and fittings have provided new market opportunities
Above we covered the opportunities in National Oilwell Varco SWOT Analysis. The opportunities for any brand can include prospects of future growth.
National Oilwell Varco Threats
- Natural gas prices in North America are very low this may cause a fall in demand for shale drilling as it will become a very expensive proposition
- Development of greener sources of energy may be a big threat for its oil business
- Fluctuating foreign exchanges and global crisis affects operations
The threats in the SWOT Analysis of National Oilwell Varco are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the National Oilwell Varco SWOT analysis.
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About National Oilwell Varco
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| National Oilwell Varco Overview | |
|---|---|
| Parent Company |
National Oilwell Varco |
| Category |
Oil Services and Equipment |
| Sector | |
| Tagline/ Slogan |
One Company Unlimited Solutions |
| USP |
It is worldwide leader in the land and offshore drilling industry |
| National Oilwell Varco STP | |
| Segmentation |
Corporates, countries looking to fulfill energy services needs |
| Target Market |
Companies needing oil and gas drilling equipments |
| Positioning |
It is positioned as worldwide leader in designing, manufacturing and selling equipments used in oil and gas drilling |
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