Oilfield Services Market Research Report 2020: Global Industry Analysis, Business Development, Size, Share, Trends, Future Growth, Forecast To 2027

The market report aims to provide an overview of the industry through detailed market segmentation. The report provides thorough information regarding the overview and scope of the market, along with the market drivers, restrains, and key trends. It covers both the quantitative and qualitative aspects of the industry in each region and country participating in the study.

Key Drivers of the Oilfield Services Market:

The global oilfield services market is witnessing an upsurging demand during the forecast period. The rise in the exploration activities and production of oil & gas due to increasing demand across various industries such as the manufacturing and transportation sector are certain drivers propelling the growth of the market. Moreover, technological advancements have resulted in improved efficiencies for extracting the resource, along with the increasing research & development activities in the oil and gas industry for creating new technologies, products, and processes to preserve the environment are some other factors boosting the growth of the global oilfield services market during the forecast period. Growth in the production of shale gas extraction, crude oil, and the presence of various offshore oil reserves are certain factors fuelling the demand for oilfield services in the market worldwide.

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The rapidly rising offshore industry, increasing penetration of activities for the recreation of the old reservoirs, and the growing implementation of the improved oil recovery technique as it helps the efficient use of existing infrastructure and equipment in the new locations, coupled with reduces the land & habitat disturbance are the factors energizing the growth of the global oilfield services market. On the other hand, the drivers responsible for hampering the growth of the global oilfield services market include the fluctuations in the prices of crude oil and the fundamental shift towards renewable energy across the world. With the emergence of the outbreak of COVID-19, there has been a temporary shutdown of production units, manufacturing plants, and other offshore and onshore wind plants, which in turn reduced the demand for the oilfield services market. However, the market is expected to bounce back in 2021 while increasing at a significant rate from 2022 onwards.

This report splits the Oilfield Services Market as follows:

By Application:

Offshore

Well Intervention Services
Well Completion Services

Onshore

Well Completion Services
Well Intervention Services

By Type:

Field Operation
Equipment Rental
Analytical Services

By Service:

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

By Region:

North America

United States of America
Canada

Asia Pacific

China
Japan
India
Rest of APAC

Europe

United Kingdom
Germany
France
Spain
Rest of Europe

Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)

Competitive Landscape:

The oilfield services market report also scans the competitive landscape and profiles the major players operating in the market including Weatherford, Halliburton, Baker Hughes Company, Schlumberger Limited, National Oilwell Varco, Superior Energy Services, Inc., China Oilfield Services Limited, TechnipFMC plc, Expro Group, and Archer, among others.

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About GMI Research

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