Oilfield Services Market by Type (Coiled Tubing, Well Completion, Well Intervention, Pressure Pumping, OCTG, Drilling Waster Management, Drilling & Completion Fluids, and Wireline ), & by Region - Global trends & Forecast to 2020
The recent decline in the global crude oil prices has negatively affected the E&P activities which is prominently visible with the sharp decline in the global rig count. The oil & gas rig count decreased from 1,350 rigs in May 2014 to 1,158 rigs in May 2015. Among all the regions, North America has faced the largest decline in rig count with nearly 53% decline in the oil & gas rigs between May 2014 and May 2015. Despite the decline in the rig count, the production of oil & gas has increased from 10.069 mbpd in 2013 to 11.644 mbpd in 2014. Thus, even though the exploration related oilfield services might be facing a decline but the production related oilfield services are expected to increase in the future. Also, the OPEC countries are also expected to achieve their collective production target of 30 mbpd in 2015 which will further increase the demand for oilfield services. Meanwhile, declining petroleum production from countries such as Thailand and Indonesia within the Asia-Pacific region is also expected to boost the oilfield services market as well intervention and stimulation activities can help slow down the production decline.
Oilfield services can also be used for operations such as well logging, gas lift valve repair, perforation, zonal isolation, well stimulation, sand washing, and setting/pulling tubing plugs. Oilfield services also include the services that are used to help the operators explore and produce from oil & gas reservoirs. The oilfield services is further composed of services such as well intervention services, pressure pumping services, well completion equipment & services, and drilling waste management services among others.
The size of the overall market has been determined by forecast techniques based on region-wise E&P capital expenditure along with the well count, rig count, and oil & gas production in different regions, which have been validated through secondary and primary sources. The market is growing at a CAGR of approximately 5.0% from 2015 to 2020.
Oilfield services have been classified on the basis of the application type into onshore and offshore applications which differ on the basis of land/ water based E&P activity. This report forecasts the oilfield services market in terms of value in USD Million. This has been segment into component regions, which has been further split into countries.
This report also includes the profiles for leading oilfield services providers, and equipment manufacturers, such as:
Schlumberger (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), National Oilwell Varco Inc. (U.S.), and Weatherford International (Ireland), Nabors Industries Ltd (Bermuda), Trican Well Service Ltd. (Canada), Precision Drilling Corporation (Canada), Calfrac Well Services Ltd. (Canada), Archer Limited (Bermuda), Basic Energy Services Inc. (U.S.), Key Energy Services (U.S.), Expro International Group (U.K.), and Pioneer Energy Services (U.S.).
Scope of the report: This study estimates the global market of oilfield services, in terms of dollar value, till 2020. It also offers a detailed qualitative and quantitative analysis of this market. This report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues of the market. The report also covers various important aspects of the market. These include analysis of value chain, Porter’s Five Forces model, competitive landscape, market dynamics, market estimates in terms of value, and future trends in the oilfield services market.
Various secondary sources have been considered including encyclopedias, directories, and databases to identify and collect information that is useful for this extensive commercial study of the global oilfield services market. The primary sources involve experts, manufacturers, and utility providers from the industry have all been interviewed to obtain and verify critical information, as well as assess future prospects of the global oilfield services market.
On the basis of service type: Coiled Tubing Services, Well Completion Equipment & Services, Well Intervention Services, Pressure Pumping Services, OCTG, Drilling Waste Management Services, Drilling & Completion Fluids Services, and Wireline Services.
On the basis of applications: Onshore, and Offshore.
On the basis of regions: North America, Europe, South America, Asia-Pacific, Africa, and the Middle East.
With the market data provided above, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Detailed analysis and profiling of additional market players (Up to 5)
Country-wise analysis can be extended by one country for every region