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Global Oilfield Services Market

  • Published Date: 06 Jun 2018
  • Number of Pages: 180
  • Category: Energy and Utilities
  • Country: Global
The Global oilfield services market was valued at US$ 106.43 Billionin 2017 and is expected to reach US$ 125.51 Billionby 2022 growing at a CAGR of3.35%during the forecast period 2017-2022.Oilfield services are used for the treatment of oil by various scientific techniques. It helps purify the natural gas obtained from reservoirs, removing its inherent impurities. It aids operators control the subsurface pressures, control borehole erosion, minimize formation damage, and optimize drilling parameters that includethe penetration rate and hole cleaning.

Market Dynamics

The global market is going to witness a substantial growth due to the increasing shale gas exploration,growing efforts in exploring the need to improve productivity from mature and new reserves, increasing oil & gas production and lifting of Iranian oil export sanction which would trigger the oilfield services market. The other factors driving the market are growing investments, deep-water exploration in North & Norwegian seas and technological advancements in the sector.

On the contrary, the market is currently facing constraint in the form ofvolatility of oil prices, which will be overcome in the long term with the increase in the demand for oil & gas from around the world. Other causes of concern to the oilfield services industry includeenvironmental issues regarding exploration and production activities, and operational challenges, especially in deep and ultra-deep water locations.There has also been a drastic decrease in the rig count globally, and this fall has been reflected in the demand for oilfield services.

Market Segmentation

The oilfield services market can be segmented on the basis of application, service and region. The segmentation based on the application includes onshore and offshore.Within the application segment, the onshore segment led the oilfield services market in 2016, and is expected to dominate the market during the forecast period. However, the offshore segment is expected to grow at the fastest rate due to new exploration and production activities being carried out in offshore areas. By service the market is segmented into coiled tubing services, well completion equipment & services, drilling & completion fluids services, drilling waste management services, oil country tubular goods, pressure pumping services, well intervention and wireline services. The pressure pumping services sub-segment, within the services segmentis projected to dominate the market during the forecast period. By region, the oilfield services market can be divided into six regions, namely, North America, South America, Europe, Asia-Pacific, the Middle East, and Africa.

Regional/Geographic Analysis

North America is expected to dominate the market, especially in the U.S due to the increased oil & gas exploration activities. Also the North America market would be driven by the production of oil & gas from oil sands, tight gas, and natural gas from coal, in Canada, combined with shale gas activities in the U.S.There is also an increase in investment in the Asia-Pacific oil & gas industry which are promoted actively by the governments in this region. Along with it growing urbanization in countries like China, India, Indonesia, etc. contribute to the increasing demand for oil & gas in this region.

Opportunities

The growing interest in deep-water exploration in Southeast Asia and East Africa is going to provide the most promising opportunities for the oilfield services industry.The global energy demand is expected to increase by 40% from 2012 to 2040 which is going to make the long-term global demand for oil & gas more substantial.

Key Players

Some of the major players in the oilfield servicesmarket include Baker Hughes Incorporated (U.S.), Halliburton Company (U.S.), Schlumberger Limited (U.S.), Weatherford International, PLC (Switzerland), Superior Energy Services, Inc. (U.S.), and GE Oil & Gas (U.K.), National OilWell Varco, Inc. (U.S.) and Archer Limited (Bermuda) among others.

The report contains comprehensive analysis on:

--> Global paints and coatings Market Segments

--> Global paints and coatings Market Drivers, Restraints and Opportunities

--> Global paints and coatings Market Size & Forecast 2016 to 2022

--> Supply & Demand Value Chain

--> Global paints and coatings Current Trends

--> Competition & Major Companies

--> Technology and R&D Status

--> Porters Five Force Analysis

--> Strategic and Critical Success Factor Analysis of Key Players

Regional analysis for Feed Software Market includes

--> North America
>> US and Canada
--> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
--> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
--> Eastern Europe
>> Russia
>> Poland
>> Rest of Eastern Europe
--> Asia Pacific
>> China
>> India
>> Japan
>> Australia and New Zealand
>> Rest of Asia Pacific
--> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.

Report Highlights::

--> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)

--> Consumer and Pricing Analysis

--> Market dynamics of the industry

--> In-depth Market Segmentation

--> Historical and Projected Market Sizing in terms of volume and value

--> Recent market trends and Impact Factors

--> R&D Status and Technology Overview

--> Extensive Industry Structure Coverage
Publisher Name : Market Litmus

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