1st April 2020 – Global Oilfield
Services Market report offers the latest industry trends, technological
alteration and forecast data. A deep-dive view of Oilfield Services industry
based on its size, growth, development plans, and opportunities is offered by
this report. The forecast information, SWOT analysis, Oilfield Services
barriers, and feasibility study are the vital aspects evaluated in this report.
Synopsis:
The global Oilfield Services
Market scope was appreciated by US$ 103.26 billion in 2016 and is projected to
touch US$ 139.1 billion by the completion of 2025. It will register a CAGR of
3.4% between 2017 and 2025.
The oilfield services comprise diverse
oil-associated actions for example intervention, stimulation, drilling,
production, completion and exploration, among numerous others for accomplishing
several purposes above the complete life cycle of oil well exploration. The
services are furthermore useful in classification of well, zonal isolation,
sand washing, perforation, well stimulation, and setting tubing plugs.
Due to the continuously growing
population, the oil and gas industry is presently flourishing, and therefore
the demand in the global market for oilfield services is estimated to grow by a
healthy development percentage for the duration of the forecast.
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Main features of the report:
·
To provide detailed analysis of
the market structure along with forecast of the various segments and
sub-segments of the global Oilfield Services Market.
·
A complete backdrop analysis,
which includes an assessment of the parent market
·
Important changes in market
dynamics
·
Market segmentation up to the
second or third level
·
To provide country level
analysis of the market for segment by application, product type and
sub-segments.
·
To provide strategic profiling
of key players in the market, comprehensively analyzing their core
competencies, and drawing a competitive landscape for the market.
·
Track and analyze competitive
developments such as joint ventures, strategic alliances, mergers and
acquisitions, new product developments, and research and developments in the
global Oilfield Services Market.
·
Emerging niche segments and
regional markets
·
An objective assessment of the
trajectory of the industry.
Drivers:
The finding of fresh fields of oil &
gas is likely to trigger the demand for oilfield services particularly from
subdivisions for example transportation and power plants. During the last few
years, there has been an important growth in the removal of oil & gas
resources for example crude oil and natural gas. This growth is additional
reason motivating the oilfield services industry.
The sector of oil & gas is
transforming due to enhanced oil recovery or EOR. This involves methods of
thermal injection, gas injection, and chemical injection. This is additionally
estimated to trigger the demand for oilfield equipment; thereby altering the
viewpoint of oilfield services business. The technologies for example robotic
oil rigs and remotely operated vehicles or ROVs may well help the enlargement
of offshore oilfields. In this manner motivating the oilfield service market.
Additionally, this is expected to empower development in the business of
oilfield services for the duration of forecast. Oilfield operators are
constantly concentrating on increasing the production and dropping price of
oilfield equipment to enhance the market for oilfield services.
Regional Lookout:
By Region the global oilfield services
market can be classified as North America, Europe, Asia Pacific, Latin America,
and Middle East & Africa. North America is projected to make up the most
important stake in the global market for oilfield services by the completion of
the prediction period. Furthermore, the increasing demand for oilfield services
in the U.S.A. comprises directional and horizontal drilling actions, mainly due
to the existence of shale gas reservoir.
Additional cause accountable for the
development of oilfield services in this region is the growing number of
deep-water schemes particularly in the U.S.A. The Asia Pacific’s market is
likewise estimated to develop at an important percentage due to the reasons for
example growing number of offshore actions particularly in China and increasing
figure of oil rigs. Finally, the market for oilfield services in the Middle
East & Africa is expected to observe a greater CAGR. This is mainly due to
the growing budget of investment in Gulf nation state and concentration on
offshore possessions.
Companies:
Some of the important companies
for oilfield services market are China Oilfield Services Limited, Oil States
Industries, BJ Services Company, Weatherford International Ltd., Baker Hughes
Inc., National Oilwell Varco, Schlumberger Limited, Weir Oil and Gas, Petrofac,
Saipem, Transocean, SGS, Halliburton Company, Superior Energy Services, GE Oil
& Gas, Nabors Industries Ltd., Superior Energy Services Inc., Precision
Drilling Corporation, Trican Well Service Ltd., Liberty Oilfield Service,
TechnipFMC plc, Bronco Oilfield Services Inc., and Asian Oilfield Services
Limited.
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