What is Production Oilfield Services and Equipments Market?
The oil and gas industry cannot function without a large number of suppliers and service providers. Governments want to ensure that they have professional and independent expertise to optimize the development of their natural resources in line with their longevity. Upstream operators generally need support in drilling, evaluating, finishing, producing, maintaining, or releasing at a certain point in time - by providing services or equipment. Since the oil and gas industry is trying to find and develop conventional and unconventional reserves at new locations, in border areas and increasingly in deeper waters or under more difficult geological conditions, this specialist knowledge has never been so in demand. Expertise and support can include advice in all areas, from reservoir management, environmental protection systems, data management, creative technical solutions for well sites/pipelines, and drilling and fracking techniques to the development and manufacture of key components for oil and gas projects and the provision of wells Oil rigs and project management services.
The market study is being classified by Type (Pressure Pumping Services, Completion & Equipment Services, Drilling & Production Specialty Chemicals, Well Servicing, Coil Tubing, Surface Equipment Services and Rig Equipments), by Application (Oil Production and Gas Production) and major geographies with country level break-up.
Baker Hughes Incorporated (United States), Schlumberger Limited (United States), Weatherford International Limited (United States), Halliburton Company (United States), Beron Energy Ltd. (United States), Frontier Oilfield Services Inc. (United States), The Weir Group PLC (United Kingdom) and Cameron (United States) are some of the key players profiled in the study.
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail of competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Production Oilfield Services and Equipments market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Production Oilfield Services and Equipments market by Type, Application and Region.
On the basis of geography, the market of Production Oilfield Services and Equipments 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.
Market Drivers
- Improved Investment in Oil and Gas and New Well Discoveries
- Rise In Redevelopment of Mature Oil Wells, Oil Price Recovery, and Increase in Exploration and Drilling Activities for Oil around the Globe
- A Shift towards Developing Other Unconventional Energy Sources to Meet Global Demand
Market Trend
- Presence of Natural Resources and the Availability of Technology for Production of Unconventional Hydrocarbons
- Hydraulic Fracturing and Other Stimulation Procedures Are Adopted By Oil & Gas Companies to Increase the Permeability of These Shale Formations, To Produce These Trapped Shale Gases
Restraints
- Strict Government Regulations on E&P Activities
Opportunities
- Increase in New Oilfields and Reserves That Are Being Discovered Across the Globe
- Advancements in Technology in Oilfield Equipment Offers Benefits Such As Increase in Safety, Reduction in Costs, Rise in Speed of the Processes, And, Surge in Efficiency
Challenges
- Fluctuating Crude Oil Process
Key Target Audience
Providers of Production Oilfield Services and Equipment, Downstream Vendors, Private Research Institutes, Market Research Organizations, Government Research Organizations and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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