Oilfield Services Market Size, Competitive Landscape and Market Forecast - 2029
Global Oilfield Services Market is segmented By Services (Seismic, Drilling, Production, Well Intervention, Well Completion, Processing & Separation, Software, Others), By Application (Onshore, Offshore), By Type (Field Operations, Equipment Rentals, Analytical & Consulting), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
The Global Oilfield Services Market is expected to grow at a CAGR of 3.70% during the forecasting period (2022-2029).
Oilfield Services Market Scope and Summary
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Metrics |
Details |
|
Market CAGR |
3.70% |
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Segments Covered |
By Services, By Application, By Type and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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What’s trending in the oilfield services market?
- Global consumption of oil & gas, Increasing investments in drilling and exploration of oil & gas resources.
- Also, growing focus on renewable energy due to environmental concerns is also leading the market to expand. In addition to all of the reasons as mentioned earlier, increasing advancement in oil and gas exploration technology and increasing Iranian oil export is creating new opportunities for the oilfield services market globally.
- Segmentation and market characteristics of the global oilfield services market
Oilfield Services Market Segmentation
By services
- Seismic
- Drilling
- Production
- Well Intervention
- Well Completion
- Processing & Separation
- Software and Others
By Application
- Onshore
- Offshore
- The onshore segment is the significant segment since it accounted for the largest market share. However, due to growing exploration and production activities, the offshore sector will be growing at a healthy pace during the forecast period.
By Type
- Field Operations,
- Equipment Rentals
- Analytical & Consulting
By Geography
- North America,
- Asia-Pacific,
- Europe,
- South America and
North America accounted for the largest global oilfield services market share due to growing oil & gas exploration activities in the U.S.
Oilfield Services Market Companies
Some of the major players in global Oilfield Services market include Schlumberger, Halliburton, Saipem, Transocean, Baker Hughes, Weatherford International, and China Oilfield Services.
Recent developments in this market
- In Jan 2018, Houston-based Stallion Oilfield Services completed two acquisitions. As a result, it has expanded its transportation services in the Permian Basin and the tri-state area of Pennsylvania, West Virginia, and Ohio.
- In Mar 2018, Gradient Energy Services (GES), an oilfield services company announced a water treatment facility contract with a major operator in the Delaware Basin.
Key takeaways from this report
- Visualization of the composition of the Oilfield Services market across each indication, regarding type and applications along with highlights of the principal commercial assets and players.
- Identification of business opportunities in Oilfield Services by analyzing trends and co-development deals.
- Most comprehensive study on Oilfield Services to date.
- Excel data sheet with thousands of data points in the Oilfield Services market – level 4/5 segmentation
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
- Product mapping in excel for the key Oilfield Services products of all major market players.
Frequently Asked Questions
What is the Oilfield Services Market growth?
The market is growing at a high CAGR of 3.70%.
What is the Oilfield Services Market size in 2021?
The Market size was valued at USD YY million in 2021.
Who are the key players in Oilfield Services Market?
Major Players are Schlumberger, Halliburton, Saipem, Transocean, Baker Hughes, Weatherford International, BJ Services Company, Petrofac, China Oilfield Services Ltd., Fluor, Derrick Petroleum Services, OES Oilfield Services.