NAICS 333132 Quarterly Industry Report
Oil and Gas Field Machinery and Equipment Manufacturing
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 333132Sector: 33Updated: Q1 2026
About This Report
This Fair Market Value industry report covers NAICS 333132 (Oil and Gas Field Machinery and Equipment Manufacturing) using the 2022 North American Industry Classification System. Data sources include the U.S. Census Bureau[5] NAICS classification, Bureau of Labor Statistics[6] employment data for oil and gas related industries, and SBA size standard tables. Content addresses industry structure, product scope, and market dynamics for establishments primarily engaged in manufacturing drilling and production equipment for oil and gas operations.
Industry Snapshot
Key metrics for the oil and gas field machinery and equipment manufacturing industry.
Industry Definition & Overview
Oil and Gas Field Machinery and Equipment Manufacturing (NAICS 333132) encompasses establishments primarily engaged in manufacturing machinery and equipment for oil and gas field operations, including drilling rigs, derricks, Christmas tree assemblies, drilling bits, and water well drilling machinery. Per the Census Bureau[5], this classification covers equipment designed for exploration, drilling, completion, and production phases of oil and gas extraction.
Manufacturing processes combine heavy steel fabrication, precision machining of pressure-rated components, and hydraulic system integration. Equipment must meet API (American Petroleum Institute) standards for pressure ratings, material specifications, and safety performance. Workforce requirements include certified welders, CNC machinists, hydraulic technicians, and field service engineers. Capital intensity is high, with production requiring specialized machine tools for boring, honing, and thread cutting on large-diameter components.
Geographic concentration tracks oil and gas production activity. Facilities cluster in Texas and Oklahoma near major drilling markets, with additional operations in Louisiana, Pennsylvania, and Colorado. Per BLS data[6], oil and gas extraction employment concentrates heavily in Texas, which accounts for over half of U.S. onshore production. Equipment manufacturers position facilities near customers to support rapid delivery and field service response. Raw material inputs include heavy steel plate, alloy bar stock, hydraulic components, diesel engines, and electronic control systems.
What's Included in This Industry
- Rotary drilling rigs and portable drilling equipment
- Derricks, masts, and substructures for drilling operations
- Wellhead equipment including Christmas tree assemblies
- Blowout preventers and well control systems
- Drilling bits, rock drill bits, and downhole tools
- Mud pumps and drilling fluid circulation systems
- Water well drilling machinery and equipment
- Artificial lift equipment including pump jacks
- Well servicing and workover equipment
- Production separation and processing equipment
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Subsector | Machinery Manufacturing | 333 |
| Industry Group | Agriculture, Construction, and Mining Machinery Manufacturing | 3331 |
| NAICS Industry | Mining and Oil and Gas Field Machinery Manufacturing | 33313 |
| National Industry | Oil and Gas Field Machinery and Equipment Manufacturing | 333132 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 333131 | Mining Machinery and Equipment Manufacturing | Manufactures underground mining machinery and equipment including core drills and coal cutters, sharing drilling technology expertise and heavy fabrication capabilities but serving mineral extraction rather than petroleum operations |
| 333120 | Construction Machinery Manufacturing | Produces construction and surface mining machinery sharing heavy fabrication, hydraulic system design, and powertrain integration capabilities with oil field equipment manufacturers but serving construction markets |
| 332911 | Industrial Valve Manufacturing | Manufactures industrial valves including gate, globe, and check valves used in wellhead assemblies, flow control systems, and production equipment within oil and gas field installations |
| 332410 | Power Boiler and Heat Exchanger Manufacturing | Produces power boilers, heat exchangers, and pressure vessels sharing pressure-rated fabrication expertise, welding certifications, and material testing requirements with oil field equipment manufacturers |
| 333995 | Fluid Power Cylinder and Actuator Manufacturing | Manufactures fluid power cylinders and actuators serving as essential hydraulic subsystems in drilling equipment, blowout preventers, and production machinery requiring precise force and motion control |
| 333612 | Speed Changer, Industrial High-Speed Drive, and Gear Manufacturing | Produces speed changers, industrial drives, and gear assemblies integrated into drawworks, mud pumps, and rotary table systems used in oil and gas drilling operations |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | Texas | 56.4% | 337 |
| 2 | Louisiana | 12.0% | 72 |
| 3 | Oklahoma | 11.2% | 67 |
| 4 | California | 3.2% | 19 |
| 5 | Wyoming | 2.7% | 16 |
| 6 | Kansas | 1.8% | 11 |
| 7 | Florida | 1.8% | 11 |
| 8 | Colorado | 1.7% | 10 |
| 9 | Pennsylvania | 1.5% | 9 |
| 10 | Ohio | 1.3% | 8 |
% Of Establishments
0%
56%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
48
Total SBA Loans
$59.5M
Total Loan Volume
$1.2M
Average Loan Size
11 yrs
Average Loan Term
10.58%
Average Interest Rate
984
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The Small Business Administration[7] sets the size standard for NAICS 333132 at 1,250 employees. Firms averaging 1,250 or fewer employees over the preceding 12 months qualify as small businesses for SBA loan programs, federal contracting set-asides, and small business certifications. This elevated threshold reflects the capital intensity and scale requirements of oil field equipment manufacturing, where large machining centers and specialized testing facilities characterize competitive operations. Eligible businesses can access SBA 7(a) loans[8] for working capital, equipment, and acquisition financing, while 504 loans[9] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | First United Bank and Trust Company | 8 | $40.0M | $5.0M |
| 2 | First Savings Bank | 8 | $15.2M | $1.9M |
| 3 | Northeast Bank | 16 | $3.1M | $195K |
| 4 | BayFirst National Bank | 8 | $840K | $105K |
| 5 | Zions Bank, A Division of | 8 | $280K | $35K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 333132?
NAICS 333132 classifies establishments primarily engaged in manufacturing equipment for oil and gas field operations. Products include drilling rigs, derricks, wellhead assemblies, blowout preventers, drilling bits, mud pumps, and production equipment. The Census Bureau[5] distinguishes this from underground mining equipment (NAICS 333131) and construction machinery (NAICS 333120).
How is the oil and gas field machinery industry structured?
A small number of large multinational firms manufacture complete drilling rig systems and integrated production equipment. Mid-size companies specialize in specific equipment categories such as blowout preventers, mud systems, or artificial lift equipment. Hundreds of smaller manufacturers produce drilling bits, downhole tools, replacement parts, and specialty components. Service companies often integrate manufacturing with field operations and equipment rental.
What is the SBA size standard for oil and gas field machinery manufacturers?
The SBA sets the size standard at 1,250 employees for NAICS 333132. Firms at or below this threshold qualify as small businesses for federal contracting preferences and SBA lending programs. Details appear in the SBA size standards table[7].
What NAICS codes are closely related to oil field machinery manufacturing?
NAICS 333131 covers mining machinery sharing drilling technology. NAICS 333120 covers construction equipment sharing heavy fabrication. Several 332911 covers industrial valves used in wellhead systems. NAICS 333995 covers hydraulic cylinders used in drilling equipment. These adjacent codes reflect shared supply chains, engineering capabilities, and manufacturing processes with oil field equipment production.
What industries depend on oil and gas field machinery manufacturers?
Oil and gas exploration and production companies purchase drilling rigs, wellhead equipment, and production machinery. Well servicing companies buy workover rigs and intervention equipment. Pipeline operators purchase separation and metering equipment. BLS data[6] confirms that oil and gas extraction employment drives demand for field equipment manufacturing concentrated in major producing states.
What activities does NAICS 333132 include?
Covered products include drilling rigs, derricks, wellhead equipment, blowout preventers, drilling bits, mud pumps, water well drilling machinery, artificial lift systems, and production processing equipment. Manufacturing activities span heavy steel fabrication, precision machining, hydraulic assembly, and equipment integration. Excluded items include offshore floating platforms (NAICS 336611), mining drills (NAICS 333131), and pumping equipment sold separately (NAICS 333914).
Are oil field equipment manufacturers eligible for SBA loans?
Yes, manufacturers meeting the 1,250-employee threshold qualify for SBA 7(a) loans, 504 loans, and federal contracting set-asides. The SBA funding programs[10] page details eligibility for manufacturing businesses seeking capital for equipment, facilities, and working capital.
Where is oil and gas field machinery manufacturing concentrated in the United States?
Texas hosts the largest concentration of oil field equipment manufacturers, positioned near the Permian Basin and Gulf Coast drilling markets. Oklahoma and Louisiana maintain additional manufacturing clusters. Pennsylvania serves Marcellus and Utica shale operations. According to BLS employment data[6], oil and gas extraction activity, which drives equipment demand, concentrates most heavily in Texas accounting for over half of U.S. onshore production.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]Census Bureau census.gov
- [6]BLS data bls.gov
- [7]Small Business Administration sba.gov
- [8]SBA 7(a) loans sba.gov
- [9]504 loans sba.gov
- [10]SBA funding programs sba.gov
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