Oilfield Services Market Size, Share, Industry, Forecast and outlook (2023-2030)
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, 2023-2030
Oilfield Services Market Report Overview
The Global Oilfield Services Market report provides an analysis of the market shares, size, recent trends, future market outlook, and competitive intelligence. The demand for oilfield services is increasing due to the growth of the oil and gas industry and the need for the exploration and production of new reserves. The market is witnessing a surge in demand from emerging economies such as Asia-Pacific and the Middle East. The competitive rivalry is intensifying with major players such as Schlumberger Limited, Halliburton Company, Baker Hughes Company and others actively operating in the market.
Oilfield Services Market Scope and Summary
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Metrics |
Details |
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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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Oilfield Services Market Dynamics and Trends
- 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 Oilfield Services 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.
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