Oilfield Services Market by Type (Pressure Pumping, Oil Country Tubular Goods, Well Intervention & Coiled Tubing, Drilling & Completion Fluid, Well Completion, Seismic Testing), Location (Onshore and Offshore), and Geography–Global Forecast to 2025
The global oilfield services market is expected to grow at a CAGR of 3.6% from 2019 to reach $171.7 billion by 2025.
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, opportunities, and trends. The factors such as increasing demand for oil, growing use of internal sources of funding, and technological advancements are driving the growth of this market. Moreover, discovery of new oilfields, mergers and acquisitions, and recent licenses and product launches are expected to provide significant opportunities for the market players. However, factors such as strict government regulations on E&P activities, fluctuations in crude oil prices, and shortages of skilled labors are hindering the growth of oilfield services market.
On the basis of service type, pressure pumping services segment accounted for the largest share of the global oilfield services market in 2018. Factors such as new oil well discoveries, continuous devotion to technology development, and mandatory requirements of safe and efficient operations at oil wells are driving the growth of this segment.
On the basis of location, onshore segment accounted for the largest share of the global oilfield services market in 2018. Factors such as increasing new oil well discoveries and production of earth oil are primarily driving the growth of this market segment.
An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America). North America commanded the largest share of the global oilfield services market in 2018, followed by Europe and Asia Pacific. Factors such as increasing spending and overall rig and well counts, improving offshore market, and mergers and acquisitions are expected to drive the growth of the oilfield services market in this region.
The key players operating in the global oilfield services market are Schlumberger Limited, Baker Hughes GE, Halliburton Company, Weatherford International, Plc, China Oilfield Services Limited (COSL), Basic Energy Services, Superior Energy Services, Inc., FMC Technologies, Inc., Welltec, Weir Oil & Gas, National Oilwell Varco, Oil States International, Inc., and Archer Limited among others.
Scope of the Report:
Market by Service Type
Oil Country Tubular Goods (OCTG) Services
Well Intervention and Coiled Tubing
Drilling and Completion Fluid
Market by Location
Market by Geography
Asia Pacific (APAC)
Middle East and Africa
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