What is Oilfield Services Market?
Oilfield services refers to various activities such as drilling, exploration, stimulation, completion, intervention, and production for the entire life cycle of the well exploration. The Oilfield services assist the operators in producing and exploring oil and gas from reservoirs by assisting in well logging, well stimulation, zonal isolation, setting tubing plugs and sand washing. Moreover, with continuously increasing population, the oil and gas industry is currently up surging demand for the global oilfield services market.
The market study is being classified by Type (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), by Application (Onshore and Offshore) and major geographies with country level break-up. According to AMA, the Global Oilfield Services market is expected to see growth rate of 3.5%
Baker Hughes (United States), Halliburton (United States), Schlumberger (United States), Weatherford International (United States), Superior Energy Services (United States), National Oilwell Varco (United States), China Oilfield Services Limited (COSL) (China), Archer (Norway), Expro International (United Kingdom), TechnipFMC (United Kingdom), GE Oil & Gas (United States) and Trican Well Service (Canada) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Welltec (Denmark), Basic Energy Services (United States), Nabors Industries (Bermuda), Pioneer Energy Services (United States), Altus (Singapore), Scomi Energy Services BHD (Malaysia), Nordic Gulf (UAE), Condor Energy (Canada), The Engineering and Development Group (Jordan), Gyrodata Incorporated (United States), Oilserv (UAE), Almansoori Petroleum Services (UAE), Calfrac Well Services (Canada) and Key Energy Services (United States).
Research Analyst at AMA predicts that North American, Asian, Middle Eastern Manufacturers will contribute to the maximum growth of Global Oilfield Services market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Oilfield Services market by Type, Application and Region.
On the basis of geography, the market of Oilfield Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Demand from End User Sectors including Transportation, Power Plants, and Other Industries
- Robust Increase in Crude Oil Production Volume
- Introduction to Enhanced Oil Recovery (EOR) Technique
- Increasing Demand for Onshore Oilfield Services
- Expensive Gas and Crude Oil Extraction
- Imbalance in Crude Oil Demand-Supply
- Upsurging Demand for Oil and Gas in Transportation and Automobile Industry
- Robust Growing Demand Due to Rapid Industrialization
- Fluctuating Currency Rates
- Threat of Substitutes (Electronic Automobiles)
On June 27th, 2018, GE said that it has planned to divest its equity ownership position in Baker Hughes, a GE Oil and Gas Company 62.5% interest in an orderly manner over the next two to three years.
For the United State, Each of Federal, State, and Local governments regulate various aspects of oil and gas operations. The regulator for the laws depends on land ownership and whether for the specific region federal regulations or state laws apply. In general, Federal regulations primarily safeguard water and air quality and worker safety, as well as exploration and production on Native American lands, federal lands, and the Outer Continental Shelf, on the other hand drilling and production is regulated by the states. As of 2018, some federal drilling and production regulations revised, enacted, or proposed since 2008 are being re-evaluated or rescinded by the current Administration.
Key Target Audience
Oilfield Service Providers, Oil and Gas Distributors and Traders, Oilfield Services Upstream and Downstream Buyers, Government Agencies, Private Agencies and Others
Customization in the Report Available:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase