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ID: MRFR/E&P/0500-HCR | February 2021 | Region: Global | 120 pages
Impact of COVID-19 on the Global Upstream Services Market
Source: Primary Experts, Secondary Sources, and MRFR Analysis
The outbreak of the COVID-19 pandemic has affected the global economy with a profound impact on various sectors, including oil & gas, energy, and manufacturing. The pandemic has not only disrupted the supply chains of the oil & gas industry, but it has also hampered the demand, exploration, and production of oil and gas. The majority of the countries have imposed lockdowns that have brought imports and exports of goods and services to a standstill, thus lowering the demand for oil and gas across the world. The COVID-19 pandemic has also caused financial losses to oil & gas exploration companies. Furthermore, the oil & gas industry requires labor for performing essential operations at exploration and drilling sites. Safety measures such as social distancing and travel restrictions have been enforced by governments to curb the spread of COVID-19, which has created uncertainties in the availability of workers, drastically cutting down the profit margins of companies engaged in the business of oil & gas exploration and production.
Moreover, according to the BP Statistical Review of World Energy 2020, the global production of oil decreased from 95,254 thousand barrels per day (TBPD) in 2018 to 95,192 TBPD in 2019. Therefore, the COVID-19 pandemic has considerably disrupted the momentum of the oil & gas industry. All these factors have, in turn, affected the upstream services market negatively. Furthermore, the crash in oil prices and the uncertainty around the changing government policies across the globe have dealt a devastating blow to the global economy.
World Liquid Fuels Production and Consumption (Million Barrels/Day)
Source: U.S. Energy Information Administration and Short-Term Energy Outlook, May 2020
Furthermore, major oil-producing countries such as the US, the UK, Germany, China, and Saudi Arabia, have witnessed a steep fall in the demand and supply of oil and gas, which has significantly impacted the global upstream services market. The global players are, therefore, focused on the development of preventive measures and new business models to address the situation to meet the energy demands of the global oil & gas industry.
Table of content
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining power of buyers
3.1.3 Bargaining power of suppliers
3.1.4 Threat of substitutes
3.1.5 Segment rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Upstream Services Market, By Type
5.1 Introduction
5.2 Pressure Pumping
5.2.1 Market Estimates & Forecast, 2020-2027
5.2.2 Market Estimates & Forecast by Region, 2020-2027
5.3 Tubular Goods
5.3.1 Market Estimates & Forecast, 2020-2027
5.3.2 Market Estimates & Forecast by Region, 2020-2027
5.4 Waste Management
5.4.1 Market Estimates & Forecast, 2020-2027
5.4.2 Market Estimates & Forecast by Region, 2020-2027
5.5 Coiled Tubing
5.5.1 Market Estimates & Forecast, 2020-2027
5.5.2 Market Estimates & Forecast by Region, 2020-2027
5.6 Completion
5.6.1 Market Estimates & Forecast, 2020-2027
5.6.2 Market Estimates & Forecast by Region, 2020-2027
5.7 Intervention
5.7.1 Market Estimates & Forecast, 2020-2027
5.7.2 Market Estimates & Forecast by Region, 2020-2027
5.8 Well Fluids
5.8.1 Market Estimates & Forecast, 2020-2027
5.8.2 Market Estimates & Forecast by Region, 2020-2027
5.9 Wireline
5.9.1 Market Estimates & Forecast, 2020-2027
5.9.2 Market Estimates & Forecast by Region, 2020-2027
5.10 Others
5.10.1 Market Estimates & Forecast, 2020-2027
5.10.2 Market Estimates & Forecast by Region, 2020-2027
6 Global Upstream Services Market, By Well Type
6.1 Introduction
6.2 Onshore
6.2.1 Market Estimates & Forecast, 2020-2027
6.2.2 Market Estimates & Forecast by Region, 2020-2027
6.3 Offshore
6.3.1 Market Estimates & Forecast, 2020-2027
6.3.2 Market Estimates & Forecast by Region, 2020-2027
7 Global Upstream Services Market, By Region
7.1 Introduction
7.2 North America
7.2.1 Market Estimates & Forecast, 2020-2027
7.2.2 Market Estimates & Forecast by Type, 2020-2027
7.2.3 Market Estimates & Forecast by Well Type, 2020-2027
7.2.4 U.S.
7.2.4.1 Market Estimates & Forecast, 2020-2027
7.2.4.2 Market Estimates & Forecast by Type, 2020-2027
7.2.4.3 Market Estimates & Forecast by Well Type, 2020-2027
7.2.5 Canada
7.2.5.1 Market Estimates & Forecast, 2020-2027
7.2.5.2 Market Estimates & Forecast by Type, 2020-2027
7.2.5.3 Market Estimates & Forecast by Well Type, 2020-2027
7.3 Europe
7.3.1 Market Estimates & Forecast, 2020-2027
7.3.2 Market Estimates & Forecast by Type, 2020-2027
7.3.3 Market Estimates & Forecast by Well Type, 2017-2023
7.3.4 Russia
7.3.4.1 Market Estimates & Forecast, 2020-2027
7.3.4.2 Market Estimates & Forecast by Type, 2020-2027
7.3.4.3 Market Estimates & Forecast by Well Type, 2020-2027
7.3.5 Norway
7.3.5.1 Market Estimates & Forecast, 2017-2023
7.3.5.2 Market Estimates & Forecast by Type, 2020-2027
7.3.5.3 Market Estimates & Forecast by Well Type, 2020-2027
7.3.6 Rest of Europe
7.3.6.1 Market Estimates & Forecast, 2020-2027
7.3.6.2 Market Estimates & Forecast by Type, 2020-2027
7.3.6.3 Market Estimates & Forecast by Well Type, 2020-2027
7.4 Asia Pacific
7.4.1 Market Estimates & Forecast, 2020-2027
7.4.2 Market Estimates & Forecast by Type, 2020-2027
7.4.3 Market Estimates & Forecast by Well Type, 2020-2027
7.4.4 China
7.4.4.1 Market Estimates & Forecast, 2020-2027
7.4.4.2 Market Estimates & Forecast by Type, 2020-2027
7.4.4.3 Market Estimates & Forecast by Well Type, 2020-2027
7.4.5 Australia
7.4.5.1 Market Estimates & Forecast, 2020-2027
7.4.5.2 Market Estimates & Forecast by Type, 2020-2027
7.4.5.3 Market Estimates & Forecast by Well Type, 2020-2027
7.4.6 Rest of Asia-Pacific
7.4.6.1 Market Estimates & Forecast, 2020-2027
7.4.6.2 Market Estimates & Forecast by Type, 2020-2027
7.4.6.3 Market Estimates & Forecast by Well Type, 2020-2027
7.5 Middle East & Africa
7.5.1 Market Estimates & Forecast, 2020-2027
7.5.2 Market Estimates & Forecast by Type, 2020-2027
7.5.3 Market Estimates & Forecast by Well Type, 2020-2027
7.6 Latin America
7.6.1 Market Estimates & Forecast, 2020-2027
7.6.2 Market Estimates & Forecast by Type, 2020-2027
7.6.3 Market Estimates & Forecast by Well Type, 2020-2027
7.7 Rest of the World
7.7.1 Market Estimates & Forecast, 2020-2027
7.7.2 Market Estimates & Forecast by Type, 2020-2027
7.7.3 Market Estimates & Forecast by Well Type, 2020-2027
8 Competitive Landscape
9 Company Profile
9.1 Schlumberger Limited
9.1.1 Company Overview
9.1.2 Product/Services Offering
9.1.3 Financial Overview
9.1.4 Key Developments
9.1.5 Strategy
9.1.6 SWOT Analysis
9.2 Halliburton
9.2.1 Company Overview
9.2.2 Product /Services Offering
9.2.3 Financial Overview
9.2.4 Key Developments
9.2.5 Strategy
9.2.6 SWOT Analysis
9.3 Baker Hughes Incorporated
9.3.1 Company Overview
9.3.2 Product /Services Offering
9.3.3 Financial Overview
9.3.4 Key Developments
9.3.5 Strategy
9.3.6 SWOT Analysis
9.4 Petrofac Limited
9.4.1 Company Overview
9.4.2 Product /Services Offering
9.4.3 Financial Overview
9.4.4 Key Developments
9.4.5 Strategy
9.4.6 SWOT Analysis
9.5 Weatherford
9.5.1 Company Overview
9.5.2 Product /Services Offering
9.5.3 Financial Overview
9.5.4 Key Developments
9.5.5 Strategy
9.5.6 SWOT Analysis
9.6 TECHNIP
9.6.1 Company Overview
9.6.2 Product /Services Offering
9.6.3 Financial Overview
9.6.4 Key Developments
9.6.5 Strategy
9.6.6 SWOT Analysis
9.7 China Oilfield Services Limited
9.7.1 Company Overview
9.7.2 Product /Services Offering
9.7.3 Financial Overview
9.7.4 Key Developments
9.7.5 Strategy
9.7.6 SWOT Analysis
9.8 Transocean Ltd.
9.8.1 Company Overview
9.8.2 Product /Services Offering
9.8.3 Financial Overview
9.8.4 Key Developments
9.8.5 Strategy
9.8.6 SWOT Analysis
9.9 Flour Corporation
9.9.1 Company Overview
9.9.2 Product /Services Offering
9.9.3 Financial Overview
9.9.4 Key Developments
9.9.5 Strategy
9.9.6 SWOT Analysis
9.10 Saipem S.p.A.
9.10.1 Company Overview
9.10.2 Product /Services Offering
9.10.3 Financial Overview
9.10.4 Key Developments
9.10.5 Strategy
9.10.6 SWOT Analysis
10 Conclusion
11 Appendix
List of Tables
Table 1 Global Upstream Services Market: By Region, 2020-2027
Table 2 North America Upstream Services Market: By Country, 2020-2027
Table 3 Europe Upstream Services Market: By Country, 2020-2027
Table 4 Asia Pacific Upstream Services Market: By Country, 2020-2027
Table 5 RoW Upstream Services Market: By Country, 2020-2027
Table 6 Global Upstream Services Market by Type: By Regions, 2020-2027
Table 7 North America Upstream Services Market by Type: By Country, 2020-2027
Table 8 Europe Upstream Services Market by Type: By Country, 2020-2027
Table 9 Asia Pacific Upstream Services Market by Type: By Country, 2020-2027
Table 10 RoW Upstream Services Market by Type: By Country, 2020-2027
Table 11 Global Upstream Services Market, by Well Type, By Regions, 2020-2027
Table 12 North America Upstream Services Market, by Well Type, By Country, 2020-2027
Table 13 Europe Upstream Services Market, by Well Type, By Country, 2020-2027
Table 14 Asia Pacific Upstream Services Market, by Well Type, By Country, 2020-2027
Table 15 RoW Upstream Services Market, by Well Type, By Country, 2020-2027
Table 16 Global Upstream Services Market: By Region, 2020-2027
Table 17 Global Upstream Services Market: By Region, 2020-2027
Table 18 Global Upstream Services Market: By Region, 2020-2027
Table 19 North America Upstream Services Market, By Country
Table 20 North America Upstream Services Market, by Type
Table 21 North America Upstream Services Market, By Well Type
Table 22 Europe: Upstream Services Market, By Country
Table 23 Europe: Upstream Services Market, by Type
Table 24 Europe: Upstream Services Market, By Well Type
Table 25 Asia Pacific: Upstream Services Market, By Country
Table 26 Asia Pacific: Upstream Services Market, by Type
Table 27 Asia Pacific: Upstream Services Market, By Well Type
Table 28 RoW: Upstream Services Market, By Region
Table 29 RoW Upstream Services Market, by Type
Table 30 RoW Upstream Services Market, By Well Type
 
List of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
FIGURE 7 VALUE CHAIN ANALYSIS
FIGURE 8 GLOBAL UPSTREAM SERVICES MARKETSHARE, BY TYPE, 2020 (%)
FIGURE 9 GLOBAL UPSTREAM SERVICES MARKET, BY TYPE, 2020-2027 (USD MILLION)
FIGURE 10 GLOBAL UPSTREAM SERVICES MARKETSHARE, BY WELL TYPE, 2020 (%)
FIGURE 11 GLOBAL UPSTREAM SERVICES MARKET, BY WELL TYPE, 2020-2027 (USD MILLION)
FIGURE 12 GLOBAL UPSTREAM SERVICES MARKET SHARE (%), BY REGION, 2020
FIGURE 13 GLOBAL UPSTREAM SERVICES MARKET, BY REGION, 2020-2027 (USD MILLION)
FIGURE 14 NORTH AMERICA UPSTREAM SERVICES MARKETSHARE (%), 2020
FIGURE 15 NORTH AMERICA UPSTREAM SERVICES MARKETBY COUNTRY, 2020-2027 (USD MILLION)
FIGURE 16 EUROPE UPSTREAM SERVICES MARKETSHARE (%), 2020
FIGURE 17 EUROPE UPSTREAM SERVICES MARKETBY COUNTRY, 2020-2027 (USD MILLION)
FIGURE 18 ASIA PACIFIC UPSTREAM SERVICES MARKETSHARE (%), 2020
FIGURE 19 ASIA PACIFIC UPSTREAM SERVICES MARKETBY COUNTRY, 2020-2027 (USD MILLION)
FIGURE 20 REST OF THE WORLD UPSTREAM SERVICES MARKETSHARE (%), 2020
FIGURE 21 REST OF THE WORLD UPSTREAM SERVICES MARKETBY COUNTRY, 2020-2027 (USD MILLION)