National Oilwell Varco SWOT Analysis, Competitors & USP
Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of National Oilwell Varco analyses the brand by its strengths, weaknesses, opportunities & threats. In National Oilwell Varco SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like National Oilwell Varco to benchmark its business & performance as compared to the competitors. National Oilwell Varco is one of the leading brands in the energy & power sector.
The article below lists the National Oilwell Varco SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the National Oilwell Varco SWOT Analysis:
For National Oilwell Varco, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
National Oilwell Varco Strengths
The strengths of National Oilwell Varco looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of National Oilwell Varco :
1. Very diverse product lines 2. Vast range of services, ranging from drilling rig technologies to providing supply chain services 3. Market leaders in supply chain management with help of their distribution network of more than 700 location
4. CSR initiatives and environmental programs have been undertaken aggressively
5. National Oilwell Varco has more than 110 brands under it 6. Has a strong workforce of approx 50,000 employees
National Oilwell Varco Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the National Oilwell Varco SWOT Analysis:
1. Spills and environmental violations have affected brand image
2. The business is excessively dependent on finding new reserves of oil which are found very infrequently
National Oilwell Varco Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in National Oilwell Varco SWOT Analysis:
1.Growing demand of oil field equipments
2. Increase of deep water drilling
3.Emergence of shale drilling outside US borders presents huge opportunity for the company
4. Acquisition of Wilson leading distribution of pipe, valves and fittings have provided new market opportunities
National Oilwell Varco Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of National Oilwell Varco are as mentioned:
1. 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
2. Development of greener sources of energy may be a big threat for its oil business 3. Fluctuating foreign exchanges and global crisis affects operations
National Oilwell Varco Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of National Oilwell Varco:
It is worldwide leader in the land and offshore drilling industry
National Oilwell Varco STP
Corporates, countries looking to fulfill energy services needs
Companies needing oil and gas drilling equipments
It is positioned as worldwide leader in designing, manufacturing and selling equipments used in oil and gas drilling
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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