Report Ocean offers a thorough analysis of the Oilfield Services Market, including assessments of business solutions, studies and advancements, applications, advantages, benefits, and breadth. This market research study on Oilfield Services Market provides a thorough analysis and improvement of the important business producers, opportunities, difficulties, and worldwide suppliers as well as a close investigation of risks and access restrictions. Additionally, it provides a competitive analysis of the most recent technological advancements, innovations, future market potential, industry share, sales, sales generation, funding analysis, and overall business environment.
Global Oilfield Services Market is valued at approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $$ over the forecast period 2022-2028.
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The oilfield equipment and services (or OFS) industry encompasses all goods and services related with the oil and gas exploration and production process, i.e., the energy industry’s upstream sector. In general, these businesses manufacture, repair, and maintain equipment used in oil extraction and transportation. The increasing construction of new oilfields and rising energy consumption are projected to be significant drivers of the market over the forecast period. According to the United States Energy Information Administration (EIA), worldwide energy consumption is increasing rapidly as a result of rising power usage and transportation. This is bolstered further by growing per capita income and a boom in global GDP. Over the previous few years, the global economy has grown steadily. Mature economies such as the United States and Europe had GDP growth after 2011 as a result of capacity expansions in numerous industries, higher exports, and growing individual incomes. Over the last decade, technology has grown increasingly crucial in oil and gas exploration and production. Industry participants are focused on technological advancements that will assist them in increasing overall production and operational efficiency. Contributors to oil services aimed to create further technology advancements that would improve the productivity and costs of E&P activities.
During the projected period, this is likely to boost the market. Shale gases are natural gases trapped in shale strata. This is due to the poor permeability of shale rocks, trapped gases cannot easily flow deep into the ground. To increase the permeability of such shale reservoirs and liberate trapped shale gases, oil and gas firms utilize hydraulic fracturing and maybe other stimulation procedures. The ultra-deep-water finding in Guyana, the United States, and Cyprus is controlled entirely by big oil firms, indicating that the industry’s focus has shifted to deep-water exploration. New oil field discoveries generate appealing opportunities for the oil and gas industry’s services sector, propelling market expansion throughout the projection period. According to BP’s Energy Outlook 2017, natural gas consumption is expected to expand at the fastest rate from 2008 to 2020. It is expected to expand at a CAGR of 1.9 percent from 2012 to 2035, with non-OECD nations accounting for the majority of this growth, surpassing demand in OECD member countries. The rising need for energy, particularly natural gas, has shifted the market’s focus to oilfield services. However, a drop in crude oil prices stifles market development throughout the projection period of 2022-2028.
The key regions considered for the Global Oilfield Services Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific emerged as the market leader. Over the previous decade, Asia Pacific has emerged as a key energy user. The region’s rising energy consumption is fueled by an ever-increasing population, particularly in China and India, which feeds the fundamental energy requirements for power, transportation, and cooking fuel. The region’s need for crude oil and hydrocarbons is expanding due to the region’s rapid urbanization.
Major market players included in this report are:
Schlumberger
Halliburton
Baker Hughes
Weatherford International
Calfrac Well Services
Cudd Energy Services
National Oilwell Varco, Inc
China Oilfield Services Limited (COSL)
Superior Energy Services, Inc.
Technipfmc.PLC
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Onshore
Offshore
By Service:
Workover & Completion
Production
Drilling
Subsea
Seismic
Processing & separation services
Others
By Type:
Equipment rental
Field Operation
Analytical & Consulting services
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the Market opportunities, market risk, and market overview of this industry?
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