18-Jun-2020 | Facts and Factors
Findings from Facts and Factors report “Oilfield Services Market By Service (Pressure Pumping Services, Oil Country Tubular Goods, Wireline Services, Well Completion Equipment & Services, Well Intervention Services, Drilling & Completion Fluid Services, Drilling Waste Management Services, and Coiled Tubing Services) and By Application (Offshore, and Onshore) and Type (Equipment rental, Field operation, and Analytical services): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global oilfield services market in 2019 was approximately USD 117 Billion The market is expected to grow at a CAGR of 3.35% and is anticipated to reach around USD 143 Billion by 2026.
The oilfield services include various oil-related activities such as interference, stabilization, drilling, development, completion, and extraction, among several others to achieve several objectives beyond the complete life cycle of well extraction of oil. Furthermore, the facilities are beneficial in well detection, zonal insulation, sand cleaning, perforation, well relaxation and setting. The oil and gas industry is booming due to the steadily rising population in recent years, and thus the demand for oilfield services on the global market is expected to rise by a healthy percentage of growth over the forecast period.
Browse the full “Oilfield Services Market By Service (Pressure Pumping Services, Oil Country Tubular Goods, Wireline Services, Well Completion Equipment & Services, Well Intervention Services, Drilling & Completion Fluid Services, Drilling Waste Management Services, and Coiled Tubing Services) and By Application (Offshore, and Onshore) and Type (Equipment rental, Field operation, and Analytical services): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/oilfield-services-market-by-service-pressure-pumping-services-1217
The global economic growth is rising at a faster rate especially in developing region owing to the growing industrialization and urbanization in emerging market such as South and Central America and Asia Pacific. The presence of enormous resources in onshore and offshore areas is the primary driving this region’s market share. Moreover, rising volume of oil production coupled with the implementation of the EOR technique in maturing oilfields and the Mexican oil & gas industry's liberalization along with the Mexican oil & gas industry's liberalization combined with the U.S. & China shale revolution are
The oilfield services market is segmented based on service, type and application. On the basis of service, the market has been fragmented into pressure pumping services, oil country tubular goods, wireline services, well completion equipment & services, well intervention services, drilling & completion fluid services, drilling waste management services, and coiled tubing services. The well completion equipment and services segment is anticipated to be the fastest growing market owing to presence of natural resources. In terms of application, it has been classified into offshore, and onshore. The onshore application is dominating the market owing to its huge presence onshore wells in developing economies such as North America and Middle East & Africa and massive investment in onshore application for oil and gas production. Moreover, redeveloping aging reservoirs and new well discoveries are providing lucrative opportunities for oil field services market.
On the basis of geography, the market for oilfield services is classified into Asia Pacific, North America, Europe, Latin America, Middle East and Africa. North America region is dominating the regional market owing to its availability of production technologies of unconventional hydrocarbons and presence of natural resources. Moreover, huge presence of industry participants makes the implementation of production technologies at site economical. In addition, growing offshore activities, and rise in number of oil rig counts in China, Japan, and Korea will significantly influence the growth of oilfield services market in this region. The regions are further analyzed into major countries in this research report are the U.S., Mexico, Germany, UK, Canada, South Korea, Italy, India, Japan, Brazil, UAE, Egypt, France, China, South Africa, and Kuwait among others.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 117 Billion |
Projected Market Size in 2026 |
USD 143 Billion |
CAGR Growth Rate |
3.35% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Baker Hughes Incorporated, Halliburton Company, Schlumberger Limited, Weatherford International PLC, National Oilwell Varco, Inc., China Oilfield Services Limited (COSL), Superior Energy Services, Inc., Technipfmc.PLC, Trican Well Service, Ltd., Welltec International APS, Nabors Industries, Ltd., and Nordic Well Services, LLC, and Others |
Key Segment |
By Service, Application, Type, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
Request customized purchase options to meet your research needs. Explore purchase options |
Some of the essential players operating in the oilfield services market, but not restricted to include
Baker Hughes Incorporated, Halliburton Company, Schlumberger Limited, Weatherford International PLC, National Oilwell Varco, Inc., China Oilfield Services Limited (COSL), Superior Energy Services, Inc., Technipfmc.PLC, Trican Well Service, Ltd., Welltec International APS, Nabors Industries, Ltd., and Nordic Well Services, LLC among others.
This report segments the oilfield services market as follows:
By Service Segmentation Analysis
- Pressure Pumping Services
- Oil Country Tubular Goods
- Wireline Services
- Well Completion Equipment & Services
- Well Intervention Services
- Drilling & Completion Fluid Services
- Drilling Waste Management Services
- Coiled Tubing Services
By Application Segmentation Analysis
By Type Segmentation Analysis
- Equipment rental
- Field operation
- Analytical services
By Regional Segmentation Analysis
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Contact Us:
Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]
Web: https://www.fnfresearch.com
