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Oilfield Services Market - Global Industry Analysis

Oilfield Services Market (Pressure Pumping Services, Oil Country Tubular Goods, Wireline Services, Well Completion Equipment & Services, Well Intervention Services, Drilling & Completion Fluid Services, And Coiled Tubing Services) For Offshore And Onshore Applications: Global Industry Perspective, Comprehensive Analysis And Forecast, 2020-2028

Published Date: 01-Jul-2021 Category: Energy & Mining Report Format : PDF Pages: 167 Report Code: ZMR-2087 Status : Published

The global Oilfield Services Market accounted for USD 118.9 Billion in 2020 and is expected to reach USD 152.5 Billion by 2028, growing at a CAGR of around 3.1% between 2021 and 2028.

Description

Market Overview     

The global Oilfield Services Market accounted for USD 118.9 Billion in 2020 and is expected to reach USD 152.5 Billion by 2028, growing at a CAGR of around 3.1% between 2021 and 2028.   

Oilfield services include a diversity of activities starting from finding to extracting oil or gas. The oilfield services company supplies the products which are required to construct, complete, and produce oil & gas wells and support within the process of finding, evaluating, producing, developing, and abandoning oil and gas resources. These companies are involved in the manufacturing, repair & maintenance of the equipment that's utilized in oil extraction and transportation. The oilfield services provide a good range of products and services various, which incorporates By Application-based services that are required for performing actual field operations. These services comprise energy data management, locating energy sources, geological sciences, drilling & formulation evaluation, among others.

COVID-19 Impact Analysis  

COVID-19 has impacted businesses across the globe. The imposed lockdown and spread of the contagious virus has slowed down the operations in various industries including chemical, metallurgy, Power Generation, Mechanical and many more. Measures such as restriction and lockdown across the globe have been explicit and unprecedented. Following the pandemic, several oil and gas companies around the world have announced job cuts as part of their efforts to reduce expenses. It has further disrupted supply chains, delayed projects on an oilfield, power generation, and created labor shortages.

Growth Factors

Growing government & vendor funding of exploration and production operations is anticipated to favor up the worldwide oilfield services market trends over the approaching years. Besides this, the planet-wide demand for oil & gas across the world will further impel the recognition of oilfield services over the forthcoming years. With renewable energy trends gaining momentum across the world and heating becoming a buzzword, it's more likely that the operations of oilfield services may get impacted and this might end in the decline of the oilfield services market revenue within the near future. Nonetheless, technological innovation in oil & gas exploration activities is projected to make lucrative prospects for the oilfield services market over the forthcoming years, thereby normalizing the impact of hindrances on the oilfield services market, reports the study.

Report Scope:  

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

 Segment Analysis Preview  

The report segments the Oilfield Services market, By Service Type, into onshore and offshore applications. The onshore application is predicted to carry the most important market share by 2023. Onshore application is very implemented in regions like North America and MEA where a maximum number of onshore wells are located for oilfield services. Factors like improved investment in oil & gas and new well discoveries are anticipated to boost the market.

The well completion equipment and services segment is predicted to grow at the very best rate during the forecast period. The market growth during this segment is often attributed to the necessity for the preparation of well for petroleum production. North America region is that the major contributor to the expansion of the segment with the presence of natural resources and therefore the availability of By Application for the production of unconventional hydrocarbons within the region. Additionally, the presence of major players within the region makes the implementation of By Application at the production site economical.

Regional Analysis Preview

Regionally, North America has been leading the worldwide oilfield services market and is expected to continue on the dominant position within the years to return. The increase in oil and gas exploration activities within the region is that the main factor behind the dominance of the North American oilfield services market. the assembly of oil & gas from oil sands, tight gas, and gas from coal, in Canada, combined with shale gas activities within the US is predicted to drive the expansion of this regional oilfield services market.

Key Market Players & Competitive Landscape

The major players that are comprised in Oilfield Services Market are Baker Hughes Incorporated, Halliburton Company, Schlumberger Limited, Weatherford International, PLC, Superior Energy Services, Inc., National Oilwell Varco, Inc., China Oilfield Services Limited (COSL), Archer Limited, Expro International Group Holdings, Ltd. and GE Oil & Gas.

The global Oilfield Services Market is segmented as follows:

By Service Type

  • Pressure Pumping Services
  • Oil Country Tubular Goods
  • Wireline Services
  • Well Completion Equipment & Services
  • Well Intervention Services
  • Drilling & Completion Fluid Services
  • Coiled Tubing Services

By Service Type

  • Offshore
  • Onshore

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Service Type
        • 2.1.1.2. Market Attractiveness Analysis, By Application
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Oilfield Services Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Oilfield Services Market – Service Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Service Type, 2020 & 2028
    • 4.2. Pressure Pumping Services
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Oil Country Tubular Goods
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Wireline Services
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Well Completion Equipment & Services
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Well Intervention Services
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.7. Drilling & Completion Fluid Services
      • 4.7.1. Market Size and Forecast, By Region (USD Billion)
      • 4.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.8. Coiled Tubing Services
      • 4.8.1. Market Size and Forecast, By Region (USD Billion)
      • 4.8.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.8.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Oilfield Services Market – Application Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Application Type, 2020 & 2028
    • 5.2. Offshore
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Onshore
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Plant Factory Grow Market – Region Segment Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Service Type, 2016 – 2028
      • 6.2.3. North America Market Revenue, By Application, 2016 – 2028
      • 6.2.5. U.S.
        • 6.2.5.1. U.S. Market Revenue, By Service Type, 2016 – 2028
        • 6.2.5.2. U.S. Market Revenue, By Application, 2016 – 2028
      • 6.2.6. Canada
        • 6.2.6.1. Canada Market Revenue, By Service Type, 2016 – 2028
        • 6.2.6.2. Canada Market Revenue, By Application, 2016 – 2028
      • 6.2.7. Mexico
        • 6.2.7.1. Mexico Market Revenue, By Service Type, 2016 – 2028
        • 6.2.7.2. Mexico Market Revenue, By Application, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Service Type, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By Application, 2016 – 2028
      • 6.3.5. Germany
        • 6.3.5.1. Germany Market Revenue, By Service Type, 2016 – 2028
        • 6.3.5.2. Germany Market Revenue, By Application, 2016 – 2028
      • 6.3.6. France
        • 6.3.6.1. France Market Revenue, By Service Type, 2016 – 2028
        • 6.3.6.2. France Market Revenue, By Application, 2016 – 2028
      • 6.3.7. U.K.
        • 6.3.7.1. U.K. Market Revenue, By Service Type, 2016 – 2028
        • 6.3.7.2. U.K. Market Revenue, By Application, 2016 – 2028
      • 6.3.8. Italy
        • 6.3.8.1. Italy Market Revenue, By Service Type, 2016 – 2028
        • 6.3.8.2. Italy Market Revenue, By Application, 2016 – 2028
      • 6.3.9. Spain
        • 6.3.9.1. Spain Market Revenue, By Service Type, 2016 – 2028
        • 6.3.9.2. Spain Market Revenue, By Application, 2016 – 2028
      • 6.3.10. Rest of Europe
        • 6.3.10.1. Rest of Europe Market Revenue, By Service Type, 2016 – 2028
        • 6.3.10.2. Rest of Europe Market Revenue, By Application, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Service Type, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 6.4.5. China
        • 6.4.5.1. China Market Revenue, By Service Type, 2016 – 2028
        • 6.4.5.2. China Market Revenue, By Application, 2016 – 2028
      • 6.4.6. Japan
        • 6.4.6.1. Japan Market Revenue, By Service Type, 2016 – 2028
        • 6.4.6.2. Japan Market Revenue, By Application, 2016 – 2028
      • 6.4.7. India
        • 6.4.7.1. India Market Revenue, By Service Type, 2016 – 2028
        • 6.4.7.2. India Market Revenue, By Application, 2016 – 2028
      • 6.4.8. South Korea
        • 6.4.8.1. South Korea Market Revenue, By Service Type, 2016 – 2028
        • 6.4.8.2. South Korea Market Revenue, By Application, 2016 – 2028
      • 6.4.9. South-East Asia
        • 6.4.9.1. South-East Asia Market Revenue, By Service Type, 2016 – 2028
        • 6.4.9.2. South-East Asia Market Revenue, By Application, 2016 – 2028
      • 6.4.10. Rest of Asia Pacific
        • 6.4.10.1. Rest of Asia Pacific Market Revenue, By Service Type, 2016 – 2028
        • 6.4.10.2. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Service Type, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By Application, 2016 – 2028
      • 6.5.5. Brazil
        • 6.5.5.1. Brazil Market Revenue, By Service Type, 2016 – 2028
        • 6.5.5.2. Brazil Market Revenue, By Application, 2016 – 2028
      • 6.5.6. Argentina
        • 6.5.6.1. Argentina Market Revenue, By Service Type, 2016 – 2028
        • 6.5.6.2. Argentina Market Revenue, By Application, 2016 – 2028
      • 6.5.7. Rest of Latin America
        • 6.5.7.1. Rest of Latin America Market Revenue, By Service Type, 2016 – 2028
        • 6.5.7.2. Rest of Latin America Market Revenue, By Application, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Service Type, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 6.6.5. GCC Countries
        • 6.6.5.1. GCC Countries Market Revenue, By Service Type, 2016 – 2028
        • 6.6.5.2. GCC Countries Market Revenue, By Application, 2016 – 2028
      • 6.6.6. South Africa
        • 6.6.6.1. South Africa Market Revenue, By Service Type, 2016 – 2028
        • 6.6.6.2. South Africa Market Revenue, By Application, 2016 – 2028
      • 6.6.7. Rest of Middle-East Africa
        • 6.6.7.1. Rest of Middle-East Africa Market Revenue, By Service Type, 2016 – 2028
        • 6.6.7.2. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
  • Chapter No. 7: Oilfield Services Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. By Application Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8: Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Oilfield Services Market: Company Market Share, 2019
      • 8.1.2. Global Oilfield Services Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Oilfield Services Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Oilfield Services Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9: Company Profiles
    • 9.1. Baker Hughes Incorporated
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. Halliburton Company
    • 9.3. Schlumberger Limited
    • 9.4. Weatherford International, PLC
    • 9.5. Superior Energy Services, Inc.
    • 9.6. National Oilwell Varco, Inc.
    • 9.7. China Oilfield Services Limited (COSL)
    • 9.8. Archer Limited
    • 9.9. Expro International Group Huldings, Ltd.
    • 9.10 GE Oil & Gas
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Service Type
FIG NO. 2. Market Attractiveness Analysis, By Application
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Oilfield Services Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Service Type, 2020 & 2028 
FIG NO. 7. Global Oilfield Services Market for Pressure Pumping Services, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Oilfield Services Market for Pressure Pumping Services, By Country, 2020 & 2028
FIG NO. 9. Global Oilfield Services Market for Oil Country Tubular Goods, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Oilfield Services Market for Oil Country Tubular Goods, By Country, 2020 & 2028
FIG NO. 9. Global Oilfield Services Market for Wireline Services, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Oilfield Services Market for Wireline Services, By Country, 2020 & 2028
FIG NO. 11. Global Oilfield Services Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Oilfield Services Market for Others, By Country, 2020 & 2028
FIG NO. 13. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 14. Global Oilfield Services Market for OffShore, Revenue (USD Billion) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Oilfield Services Market for OffShore, By Country, 2020 & 2028 
FIG NO. 16. Global Oilfield Services Market for OnShore, Revenue (USD Billion) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Oilfield Services Market for OnShore, By Country, 2020 & 2028
FIG NO. 18. Global Oilfield Services Market Revenue Share, By Region, 2020 & 2028
FIG NO. 19. North America Oilfield Services Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 20. Porter’s Five Forces Analysis for Global Oilfield Services Market
FIG NO. 21. PEST Analysis for Global Oilfield Services Market
FIG NO. 22. Pricing Analysis for Global Oilfield Services Market
FIG NO. 23. Value Chain Analysis for Global Oilfield Services Market
FIG NO. 24. Company Share Analysis, 2019
FIG NO. 25. Radar Determinant Chart, 2019
FIG NO. 26. Company Strategic Developments – Heat Map Analysis
FIG NO. 27. The Sherwin-Williams Company Business Segment Revenue Share, 2020 (%)
FIG NO. 28. The Sherwin-Williams Company Geographical Segment Revenue Share, 2020 (%)
FIG NO. 29. Market Channels
FIG NO. 30. Marketing Channel Development Trend
FIG NO. 31. Growth in World Gross Product, 2008-2018
FIG NO. 32. Research Methodology – Detailed View
FIG NO. 33. Research Methodology
 


List of Tables 

TABLE NO. 1. Global Oilfield Services Market: Snapshot
TABLE NO. 2. Quarterly Oilfield Services Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Oilfield Services Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion) 
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion) 
TABLE NO. 6. Global Oilfield Services Market for Pressure Pumping Services, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Oilfield Services Market for Oil Country Tubular Goods, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Oilfield Services Market for Wireline Services, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Oilfield Services Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Oilfield Services Market for OffShore, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11 Global Oilfield Services Market for OnShore, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12 Global Oilfield Services Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. North America Oilfield Services Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 14. North America Oilfield Services Market Revenue, By Service Type, 2016 – 2028 (USD Billion)
TABLE NO. 15. North America Oilfield Services Market Revenue, By Service Type, 2016 – 2028 (USD Billion)
TABLE NO. 16. U.S. Oilfield Services Market Revenue, By Service Type, 2016 – 2028 (USD Billion)
TABLE NO. 17. U.S. Oilfield Services Market Revenue, By Service Type, 2016 – 2028 (USD Billion)
TABLE NO. 18. Canada Oilfield Services Market Revenue, By Service Type, 2016 – 2028 (USD Billion)
TABLE NO. 19. Canada Oilfield Services Market Revenue, By Service Type, 2016 – 2028 (USD Billion)
TABLE NO. 20. Mexico Oilfield Services Market Revenue, By Service Type, 2016 – 2028 (USD Billion)
TABLE NO. 21. Mexico Oilfield Services Market Revenue, By Service Type, 2016 – 2028 (USD Billion)
TABLE NO. 22. Drivers for the Oilfield Services Market: Impact Analysis
TABLE NO. 23. Restraints for the Oilfield Services Market: Impact Analysis
TABLE NO. 24. Major Buyers of Plant Factory Grow Lights
TABLE NO. 25. Distributors/Traders List of Plant Factory Grow Lights
TABLE NO. 26. Global Oilfield Services Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 27: Global Oilfield Services Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)   


 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Oilfield Services market. Zion Research has collected and analyzed key data belong to the global Oilfield Services market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Oilfield Services across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Oilfield Services industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Oilfield Services market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Global oilfield services market is expected to witness lucrative growth within the forecast period on account of increasing government and vendor investments in exploration and production activities. Oilfield service companies assist in the setting up of oil and gas wells. In general, these companies manufacture, repair and maintain equipment used in oil extraction and transport. The services are also helpful in good logging, perforation, zonal isolation, well stimulation, sand washing and setting tubing plugs. Oilfield services and equipment are critical for the upstream sector and account for a large share of oil and gas companies’ spending. The increased consumption of oil and gas across the globe is expected to be the major driver for the oilfield services market. The growing demand has resulted in various government and private sector investments in the drilling and exploration of oil and gas resources. Moreover, increasing shale gas production is expected to further propel the growth of the oilfield services market within the forecast period. The increased focus on renewable energy in order to combat the global climate change issues is expected to curb the growth of the oilfield services market in the coming years. However, technological advancements in oil and gas exploration coupled with the lifting of Iranian oil export sanctions is expected to open new avenues of opportunities for the oilfield services market within the forecast period.

The oilfield services market can be segmented into categories by service types such as pressure pumping services, oil country tubular goods, wireline services, well completion equipment & services, well intervention services, drilling & completion fluid services and coiled tubing services. The pressure pumping services accounted for the largest market share in 2016 and are expected to maintain this trend over the forecast period. However, the good completion equipment & services are expected to emerge as the fastest growing segment within the forecast period owing to the increasing oil and gas exploration activities across the globe.

Global Oilfield Services Market

Offshore and onshore are the application segments of the global oilfield services market. The onshore application dominated the global oilfield services market across the forecast period and is expected to continue its dominance in the forecast period. The new exploration and drilling activities are expected to spur the growth of the offshore segment of the oilfield services market. Hence, it is expected to be the fastest growing segment of the global oilfield services market within the forecast period.

North America accounted for the largest share of the global oilfield services market in 2016 and is expected to grow in light of the increased oil and gas exploration activities in the region. North America is also expected to register the fastest growth rate during the forecast period owing to 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.

The key players in the global fuel cells market are Baker Hughes Incorporated, Halliburton Company, Schlumberger Limited, Weatherford International, PLC, Superior Energy Services, Inc., National Oilwell Varco, Inc., China Oilfield Services Limited (COSL), Archer Limited, Expro International Group Holdings, Ltd. and GE Oil & Gas among others.

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FrequentlyAsked Questions

The global Oilfield Services Market was valued at USD 118.9 billion in 2020.

The global Oilfield Services Market is expected to reach USD 152.5 billion by 2028, growing at a CAGR of 3.1% between 2021 to 2028.

The major factors driving the oilfield services market include the global increase in oil and gas production and growing shale gas extraction. 

North America has been leading the worldwide oilfield services market and is anticipated to continue in the dominant position in the years to come.

The major players that are comprised in Oilfield Services Market are Baker Hughes Incorporated, Halliburton Company, Schlumberger Limited, Weatherford International, PLC, Superior Energy Services, Inc., National Oilwell Varco, Inc., China Oilfield Services Limited (COSL), Archer Limited, Expro International Group Holdings, Ltd. and GE Oil & Gas.

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