Oilfield Services Market was valued at US$ 108.25 Bn. in 2022. The Global Oilfield Services Market size is estimated to grow at a CAGR of 3.4% over the forecast period.
Oilfield Services Market Overview
The report insights about top players, market size, share, key drivers, challenges, opportunities, competitive landscape, market attractiveness analysis, new product launches, technological innovations, and growth contributors which helps to analyse the Oilfield Services Market.
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Oilfield Services Market Report Scope and Research Methodology
The qualitative and quantitative data collected by primary research resources, free and paid databases, surveys, Google forms, etc. is further analysed by tools such as SWOT and PESTLE analysis to understand the Oilfield Services market.
Oilfield Services Market Regional Insights
A regional analysis typically includes a precise examination of market trends, competitive landscape, consumer behaviour, and regulatory environment in each region.
Oilfield Services Market Segmentation
The Global Oilfield Services Market is divided into three categories based on type: Equipment Rental, Field Operation, and Analytical Services. In 2022, the market share of the equipment rental segment was 48%. Equipment rental, also known as plant hire in some countries, is a service sector that offers limited-term use of machinery, equipment, and tools of all sizes and types, including earthmoving equipment, powered access equipment, power production equipment, handheld tools, etc., to end users, mostly for construction reasons. The market for renting out equipment is coming due to operational, environmental, and financial and economic issues. It reduces the risk of owning equipment fleets financially.
The Global Oilfield Services Market is divided into Production, Drilling, Completion & Workover, Processing & Separation, and Geophysical segments based on service type. Due to initiatives for oil recovery and well testing in existing oilfields or the growth of the oilfield industry, the production category is predicted to retain a larger position in market share accounting for 34% in 2022. Oilfield services come in many forms, including artificial lift systems, floating production vessels, support vessels, well testing services, subsea equipment, increased oil recovery, digital oilfield, and other services.
1. Global Oilfield Services Market Size by Type(2022-2029)
• Equipment Rental
• Field Operation
• Analytical Services
2. Global Oilfield Services Market Size, by Application(2022-2029)
• Offshore
• Onshore
3. Global Oilfield Services Market Size, by Service Type (2022-2029)
• Production Segment
• Drilling Segment
• Completion & Workover Segment
• Process & Separation Segment
• Geophysical Segment
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Oilfield Services Market Key Players
1. Schulumberger Ltd.
2. Halliburton Ltd.
3. Baker Hughes Incorporate
4. Weatherford International Ltd.
5. Nabors Industries Ltd.
6. Saipem
7. Petrofac
8. Trican Well Services Ltd.
9. Precision Drilling CO.
10. SGS S.A.
11. Superior Energy Services Inc.
12. Fluor
13. Transocean
14. Oil States industries
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Key questions answered in Oilfield Services Market are:
- What is the Oilfield Services market size of the dominating region?
- What was the Oilfield Services market size in 2022?
- What is the expected Oilfield Services market size by 2029?
- What is the growth rate of the Oilfield Services Market?
- Which are the factors expected to drive the Oilfield Services market growth?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the oilfield services market include Schlumberger, Halliburton, National Oilwell Varco, Baker Hughes, Weatherford International, China Oilfield Services, Petrofac, Saipem, Transocean, and Worley Parsons.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Oilfield Services Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/oilfield-services-market/download-sampleMarket DynamicsThe major factors driving the oilfield services demand are the global increase in oil and gas exploration onshore and offshore, rising demand for energy, expanding exploration facilities, and favorable regulations.
The revival of carbon emission limits by rules presents many opportunities for market growth.
The new regulations, IMO 2020 mandates a maximum sulfur content of 0.5% in marine fuels globally.
The IMO 2020 regulation has cause marine fuel producing facilities to make significant changes, causing growth in oilfield services.
