Oilfield Services Market Scope
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.
According to AMA, the Global Oilfield Services market is expected to see growth rate of 3.5% Research Analyst at AMA estimates that North American, Asian, Middle Eastern Manufacturers will contribute to the maximum growth of Global Oilfield Services market throughout the predicted period.
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 States), GE Oil & Gas (United States) and Trican Well Service (Canada) are some of the key players that are part of study coverage. 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).
Segmentation Overview
The study have segmented the market of Global Oilfield Services market 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 Region with country level break-up.
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).
Influencing Trend:
Introduction to Enhanced Oil Recovery (EOR) Technique and Increasing Demand for Onshore Oilfield Services
Market Growth Drivers:
Increasing Demand from End User Sectors including Transportation, Power Plants, and Other Industries and Robust Increase in Crude Oil Production Volume
Challenges:
Fluctuating Currency Rates and Threat of Substitutes (Electronic Automobiles)
Restraints:
Expensive Gas and Crude Oil Extraction and Imbalance in Crude Oil Demand-Supply
Opportunities:
Upsurging Demand for Oil and Gas in Transportation and Automobile Industry and Robust Growing Demand Due to Rapid Industrialization
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
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.