Oilfield Services Market Research Reportβ€”Global Forecast till 2028

Oilfield Services Market Research Report: Information, by Service Type (Well Completion Equipment & Services, Well Intervention Services, Coiled Tubing Services, Pressure Pumping Services, OCTG, Wireline Services, And Drilling Waste Management Services), by Application (Onshore, Offshore), Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Forecast till 2028

ID: MRFR/E&P/5370-CR | May 2022 | Region: Global | 150 Pages         

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

1.1 MARKET ATTRACTIVENESS ANALYSIS

1.1.1 GLOBAL OILFIELD SERVICES MARKET, BY TYPE

1.1.2 GLOBAL OILFIELD SERVICES MARKET, BY APPLICATION

1.1.3 GLOBAL OILFIELD SERVICES MARKET, BY REGION

2 MARKET INTRODUCTION

2.1 DEFINITION

2.2 SCOPE OF THE STUDY

2.3 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS

3.2 PRIMARY RESEARCH

3.3 SECONDARY RESEARCH

3.4 MARKET SIZE ESTIMATION

3.5 TOP-DOWN AND BOTTOM-UP APPROACH

3.6 FORECAST MODEL

3.7 LIST OF ASSUMPTIONS & LIMITATIONS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 DRIVERS

4.2.1 GROWING DEMAND FOR ENHANCED OIL RECOVERY

4.2.2 RAPIDLY GROWING SHALE GAS EXPLORATION

4.3 RESTRAINTS

4.3.1 INCREASING PREFERENCE FOR RENEWABLE SOURCES OF ENERGY

4.3.2 FLUCTUATING CRUDE OIL PRICES

4.4 OPPORTUNITIES

4.4.1 INCREASING OIL & GAS INVESTMENTS IN THE MENA REGION

4.5 CHALLENGES

4.5.1 ENVIRONMENTAL CHALLENGES IN THE OIL & GAS INDUSTRY

4.5.2 STRINGENT REGULATIONS PERTAINING TO OIL & GAS ACTIVITIES

4.6 IMPACT ANALYSIS OF COVID-19

4.6.1 IMPACT ON OIL & GAS INDUSTRY

4.6.1.1 ECONOMIC IMPACT

4.6.2 IMPACT ON OILFIELD SERVICES MARKET

4.6.3 IMPACT ON SUPPLY CHAIN OF OILFIELD SERVICES MARKET

4.6.3.1 PRICE VARIATION OF HARDWARE COMPONENTS

4.6.3.2 PRODUCTION SHUTDOWN

4.6.3.3 CASH FLOW CONSTRAINTS

4.6.3.4 IMPACT ON IMPORT/EXPORT

4.6.4 IMPACT ON THE MARKET DEMAND FOR OILFIELD SERVICES

4.6.4.1 IMPACT DUE TO LOCKDOWN

4.6.4.2 CONSUMER SENTIMENTS

4.6.5 IMPACT ON PRICING OF OILFIELD SERVICES

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY CHAIN ANALYSIS

5.1.1 RESEARCH & DEVELOPMENT

5.1.2 COMPONENT/EQUIPMENT SUPPLY

5.1.3 SOFTWARE PROVIDERS

5.1.4 END USE

5.2 PORTER'S FIVE FORCES ANALYSIS

5.2.1 THREAT OF NEW ENTRANTS

5.2.2 BARGAINING POWER OF SUPPLIERS

5.2.3 THREAT OF SUBSTITUTES

5.2.4 BARGAINING POWER OF BUYERS

5.2.5 INTENSITY OF RIVALRY

6 GLOBAL OILFIELD SERVICES MARKET, BY SERVICE TYPE

6.1 OVERVIEW

6.1.1 OILFIELD SERVICES: MARKET ESTIMATES & FORECAST BY SERVICE TYPE, 2019–2028

6.2 WELL COMPLETION EQUIPMENT & SERVICES

6.2.1 WELL COMPLETION EQUIPMENT & SERVICES: MARKET ESTIMATES & FORECAST BY REGION, 2019–2028

6.3 WELL INTERVENTION SERVICES

6.3.1 WELL INTERVENTION SERVICES: MARKET ESTIMATES & FORECAST BY REGION, 2019–2028

6.4 COILED TUBING SERVICES

6.4.1 COILED TUBING SERVICES: MARKET ESTIMATES & FORECAST BY REGION, 2019–2028

6.5 PRESSURE PUMPING SERVICES

6.5.1 PRESSURE PUMPING SERVICES: MARKET ESTIMATES & FORECAST BY REGION, 2019–2028

6.6 OCTG

6.6.1 OCTG: MARKET ESTIMATES & FORECAST BY REGION, 2019–2028

6.7 WIRELINE SERVICES

6.7.1 WIRELINE SERVICES: MARKET ESTIMATES & FORECAST BY REGION, 2019–2028

6.8 DRILLING WASTE MANAGEMENT SERVICES

6.8.1 DRILLING WASTE MANAGEMENT SERVICES: MARKET ESTIMATES & FORECAST BY REGION, 2019–2028

6.9 OTHERS

6.9.1 OTHERS: MARKET ESTIMATES & FORECAST BY REGION, 2019–2028

7 GLOBAL OILFIELD SERVICES MARKET, BY APPLICATION

7.1 OVERVIEW

7.1.1 OILFIELD SERVICES: MARKET ESTIMATES & FORECAST BY APPLICATION, 2019–2028

7.2 ONSHORE

7.2.1 ONSHORE: MARKET ESTIMATES & FORECAST BY REGION, 2019–2028

7.3 OFFSHORE

7.3.1 OFFSHORE: MARKET ESTIMATES & FORECAST BY REGION, 2019–2028

8 GLOBAL OILFIELD SERVICES MARKET, BY REGION

8.1 OVERVIEW

8.2 NORTH AMERICA

8.2.1 US

8.2.2 CANADA

8.2.3 MEXICO

8.3 EUROPE

8.3.1 GERMANY

8.3.2 FRANCE

8.3.3 SPAIN

8.3.4 UK

8.3.5 ITALY

8.3.6 RUSSIA

8.3.7 REST OF EUROPE

8.4 ASIA-PACIFIC

8.4.1 CHINA

8.4.2 JAPAN

8.4.3 INDIA

8.4.4 SOUTHEAST ASIA

8.4.5 REST OF ASIA-PACIFIC

8.5 LATIN AMERICA

8.5.1 BRAZIL

8.5.2 ARGENTINA

8.5.3 CHILE

8.5.4 REST OF LATIN AMERICA

8.6 THE MIDDLE EAST & AFRICA

8.6.1 IRAQ

8.6.2 IRAN

8.6.3 EGYPT

8.6.4 SAUDI ARABIA

8.6.5 REST OF THE MIDDLE EAST & AFRICA

9 COMPETITIVE LANDSCAPE

9.1 INTRODUCTION

9.2 COMPETITION DASHBOARD

9.3 COMPETITIVE BENCHMARKING

9.4 MARKET SHARE ANALYSIS, 2020

9.5 THE LEADING PLAYER IN TERMS OF NUMBER OF DEVELOPMENTS IN GLOBAL OILFIELD SERVICES MARKET

9.6 KEY DEVELOPMENTS & GROWTH STRATEGY

9.6.1 NEW PRODUCT DEVELOPMENT

9.6.2 MERGER & ACQUISITIONS AND JOINT VENTURE

9.6.3 CONTRACT & AGREEMENTS

9.6.4 EXPANSION & INVESTMENTS

10 COMPANY PROFILES

10.1 SCHLUMBERGER LIMITED

10.1.1 COMPANY OVERVIEW

10.1.2 FINANCIAL OVERVIEW

10.1.3 PRODUCTS OFFERED

10.1.4 KEY DEVELOPMENTS

10.1.5 SWOT ANALYSIS

10.1.6 KEY STRATEGIES

10.2 HALLIBURTON CORPORATION

10.2.1 COMPANY OVERVIEW

10.2.2 FINANCIAL OVERVIEW

10.2.3 PRODUCTS OFFERED

10.2.4 KEY DEVELOPMENTS

10.2.5 SWOT ANALYSIS

10.2.6 KEY STRATEGIES

10.3 BAKER HUGHES

10.3.1 COMPANY OVERVIEW

10.3.2 FINANCIAL OVERVIEW

10.3.3 PRODUCTS OFFERED

10.3.4 KEY DEVELOPMENTS

10.3.5 SWOT ANALYSIS

10.3.6 KEY STRATEGIES

10.4 WEATHERFORD

10.4.1 COMPANY OVERVIEW

10.4.2 FINANCIAL OVERVIEW

10.4.3 PRODUCTS OFFERED

10.4.4 KEY DEVELOPMENTS

10.4.5 SWOT ANALYSIS

10.4.6 KEY STRATEGIES

10.5 NATIONAL OILWELL VARCO

10.5.1 COMPANY OVERVIEW

10.5.2 FINANCIAL OVERVIEW

10.5.3 PRODUCTS OFFERED

10.5.4 KEY DEVELOPMENTS

10.5.5 SWOT ANALYSIS

10.5.6 KEY STRATEGIES

10.6 ASIAN ENERGY SERVICES LIMITED

10.6.1 COMPANY OVERVIEW

10.6.2 FINANCIAL OVERVIEW

10.6.3 PRODUCTS OFFERED

10.6.4 KEY DEVELOPMENT

10.6.5 SWOT ANALYSIS

10.6.6 KEY STRATEGIES

10.7 TECHNIPFMC PLC

10.7.1 COMPANY OVERVIEW

10.7.2 FINANCIAL OVERVIEW

10.7.3 PRODUCTS OFFERED

10.7.4 KEY DEVELOPMENTS

10.7.5 SWOT ANALYSIS

10.7.6 KEY STRATEGIES

10.8 SUPERIOR ENERGY SERVICES, INC

10.8.1 COMPANY OVERVIEW

10.8.2 FINANCIAL OVERVIEW

10.8.3 PRODUCTS OFFERED

10.8.4 KEY DEVELOPMENTS

10.8.5 SWOT ANALYSIS

10.8.6 KEY STRATEGIES

10.9 CHINA OILFIELD SERVICES LIMITED

10.9.1 COMPANY OVERVIEW

10.9.2 FINANCIAL OVERVIEW

10.9.3 PRODUCTS OFFERED

10.9.4 KEY DEVELOPMENTS

10.9.5 SWOT ANALYSIS

10.9.6 KEY STRATEGIES

10.10 NABORS INDUSTRIES, LTD.

10.10.1 COMPANY OVERVIEW

10.10.2 FINANCIAL OVERVIEW

10.10.3 PRODUCTS OFFERED

10.10.4 KEY DEVELOPMENTS

10.10.5 SWOT ANALYSIS

10.10.6 KEY STRATEGIES

10.11 ARCHER LIMITED

10.11.1 COMPANY OVERVIEW

10.11.2 FINANCIAL OVERVIEW

10.11.3 PRODUCTS OFFERED

10.11.4 KEY DEVELOPMENTS

10.11.5 SWOT ANALYSIS

10.11.6 KEY STRATEGIES

10.12 EXPRO INTERNATIONAL GROUP

10.12.1 COMPANY OVERVIEW

10.12.2 FINANCIAL OVERVIEW

10.12.3 PRODUCTS OFFERED

10.12.4 KEY DEVELOPMENTS

10.12.5 SWOT ANALYSIS

10.12.6 KEY STRATEGIES

10.13 TRICAN WELL SERVICE LTD.

10.13.1 COMPANY OVERVIEW

10.13.2 FINANCIAL OVERVIEW

10.13.3 PRODUCTS OFFERED

10.13.4 KEY DEVELOPMENTS

10.13.5 SWOT ANALYSIS

10.13.6 KEY STRATEGIES

10.14 PRECISION DRILLING CORPORATION

10.14.1 COMPANY OVERVIEW

10.14.2 FINANCIAL OVERVIEW

10.14.3 PRODUCTS OFFERED

10.14.4 KEY DEVELOPMENTS

10.14.5 SWOT ANALYSIS

10.14.6 KEY STRATEGIES

10.15 CALFRAC WELL SERVICES, LTD.

10.15.1 COMPANY OVERVIEW

10.15.2 FINANCIAL OVERVIEW

10.15.3 PRODUCTS OFFERED

10.15.4 KEY DEVELOPMENTS

10.15.5 SWOT ANALYSIS

10.15.6 KEY STRATEGIES

11 APPENDIX

11.1 REFERENCES

11.2 RELATED REPORTS

 

LIST OF TABLES

TABLE 1 LIST OF ASSUMPTIONS & LIMITATIONS

TABLE 2 OILFIELD SERVICES MARKET ESTIMATES & FORECAST, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 3 WELL COMPLETION EQUIPMENT & SERVICES MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD MILLION)

TABLE 4 WELL INTERVENTION SERVICES MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD MILLION)

TABLE 5 COILED TUBING SERVICES MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD MILLION)

TABLE 6 PRESSURE PUMPING SERVICES MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD MILLION)

TABLE 7 OCTG MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD MILLION)

TABLE 8 WIRELINE SERVICES MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD MILLION)

TABLE 9 DRILLING WASTE MANAGEMENT SERVICES MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD MILLION)

TABLE 10 OTHERSS MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD MILLION)

TABLE 11 OILFIELD SERVICES MARKET ESTIMATES & FORECAST, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 12 ONSHORE MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD MILLION)

TABLE 13 OFFSHORE MARKET ESTIMATES & FORECAST, BY REGION, 2019–2028 (USD MILLION)

TABLE 14 GLOBAL OILFIELD SERVICES MARKET, BY REGION, 2019–2028 (USD MILLION)

TABLE 15 NORTH AMERICA: OILFIELD SERVICES MARKET, BY COUNTRY, 2019–2028 (USD MILLION)

TABLE 16 NORTH AMERICA: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 17 NORTH AMERICA: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 18 US: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 19 US: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 20 CANADA: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 21 CANADA: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 22 MEXICO: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 23 MEXICO: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 24 EUROPE: OILFIELD SERVICES MARKET, BY COUNTRY, 2019–2028 (USD MILLION)

TABLE 25 EUROPE: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 26 EUROPE: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 27 GERMANY: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 28 GERMANY: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 29 FRANCE: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 30 FRANCE: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 31 SPAIN: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 32 SPAIN: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 33 UK: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 34 UK: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 35 ITALY: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 36 ITALY: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 37 RUSSIA: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 38 RUSSIA: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 39 REST OF EUROPE: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 40 REST OF EUROPE: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 41 ASIA-PACIFIC: OILFIELD SERVICES MARKET, BY COUNTRY, 2019–2028 (USD MILLION)

TABLE 42 ASIA-PACIFIC: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 43 ASIA-PACIFIC: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 44 CHINA: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 45 CHINA: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 46 JAPAN: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 47 JAPAN: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 48 INDIA: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 49 INDIA: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 50 SOUTHEAST ASIA: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 51 SOUTHEAST ASIA: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 52 REST OF ASIA-PACIFIC: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 53 REST OF ASIA-PACIFIC: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 54 LATIN AMERICA: OILFIELD SERVICES MARKET, BY COUNTRY, 2019–2028 (USD MILLION)

TABLE 55 LATIN AMERICA: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 56 LATIN AMERICA: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 57 BRAZIL: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 58 BRAZIL: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 59 ARGENTINA: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 60 ARGENTINA: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 61 CHILE: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 62 CHILE: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 63 REST OF LATIN AMERICA: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 64 REST OF LATIN AMERICA: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 65 THE MIDDLE EAST & AFRICA: OILFIELD SERVICES MARKET, BY COUNTRY, 2019–2028 (USD MILLION)

TABLE 66 THE MIDDLE EAST & AFRICA: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 67 THE MIDDLE EAST & AFRICA: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 68 IRAQ: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 69 IRAQ: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 70 IRAN: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 71 IRAN: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 72 EGYPT: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 73 EGYPT: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 74 SAUDI ARABIA: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 75 SAUDI ARABIA: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 76 REST OF THE MIDDLE EAST & AFRICA: OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019–2028 (USD MILLION)

TABLE 77 REST OF THE MIDDLE EAST & AFRICA: OILFIELD SERVICES MARKET, BY APPLICATION, 2019–2028 (USD MILLION)

TABLE 78 SCHLUMBERGER LIMITED: FINANCIAL OVERVIEW SNAPSHOT

TABLE 79 THE MOST ACTIVE PLAYER IN THE GLOBAL OILFIELD SERVICES MARKET

TABLE 80 NEW PRODUCT DEVELOPMENT

TABLE 81 MERGER & ACQUISITIONS AND JOINT VENTURE

TABLE 82 CONTRACT & AGREEEMENTS

TABLE 83 EXPANSION & INVESTMENTS

TABLE 84 SCHLUMBERGER LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 85 SCHLUMBERGER: KEY DEVELOPMENTS

TABLE 86 HALLIBURTON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 87 HALLIBURTON CORPORATION: KEY DEVELOPMENTS

TABLE 88 BAKER HUGHES: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 89 BAKER HUGHES: KEY DEVELOPMENTS

TABLE 90 WEATHERFORD: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 91 WEATHERFORD: KEY DEVELOPMENTS

TABLE 92 NATIONAL OILWELL VARCOS: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 93 ASIAN ENERGY SERVICES LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 94 TECHNIPFMC PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 95 TECHNIPFMC PLC: KEY DEVELOPMENTS

TABLE 96 SUPERIOR ENERGY SERVICES, INC: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 97 SUPERIOR ENERGY SERVICES, INC: KEY DEVELOPMENTS

TABLE 98 CHINA OILFIELD SERVICES LIMITED: PRODUCTS OFFERED

TABLE 99 NABORS INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 100 ARCHER LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 101 EXPRO INTERNATIONAL GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 102 EXPRO INTERNATIONAL GROUP: KEY DEVELOPMENTS

TABLE 103 TRICAN WELL SERVICE LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 104 PRECISION DRILLING CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED

TABLE 105 CALFRAC WELL SERVICES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED

 

LIST OF FIGURES

FIGURE 1 MARKET SYNOPSIS

FIGURE 2 MARKET ATTRACTIVENESS ANALYSIS: GLOBAL OILFIELD SERVICES MARKET, 2020

FIGURE 3 GLOBAL OILFIELD SERVICES MARKET ANALYSIS BY TYPE

FIGURE 4 GLOBAL OILFIELD SERVICES MARKET ANALYSIS BY APPLICATION

FIGURE 5 GLOBAL OILFIELD SERVICES MARKET ANALYSIS BY REGION

FIGURE 6 GLOBAL OILFIELD SERVICES MARKET: MARKET STRUCTURE

FIGURE 7 RESEARCH PROCESS OF MRFR

FIGURE 8 MARKET DYNAMICS OVERVIEW

FIGURE 9 NUMBER OF EOR PROJECTS IN GLOBAL OPERATION, 2017

FIGURE 10 DRIVERS IMPACT ANALYSIS

FIGURE 11 CRUDE OIL PRICE FLUCTUATIONS, WTI

FIGURE 12 RESTRAINTS IMPACT ANALYSIS

FIGURE 13 PLANNED INVESTMENT IN ENERGY SECTOR BY MIDDLE EAST & AFRICA REGION (2018–2022)

FIGURE 14 SUPPLY CHAIN ANALYSIS FOR GLOBAL OILFIELD SERVICES MARKET

FIGURE 15 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL OILFIELD SERVICES MARKET

FIGURE 16 GLOBAL OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2020 (% SHARE)

FIGURE 17 GLOBAL OILFIELD SERVICES MARKET, BY SERVICE TYPE, 2019 TO 2028 (USD MILLION)

FIGURE 18 GLOBAL OILFIELD SERVICES MARKET, BY APPLICATION, 2020 (% SHARE)

FIGURE 19 GLOBAL OILFIELD SERVICES MARKET, BY APPLICATION, 2019 TO 2028 (USD MILLION)

FIGURE 20 GLOBAL OILFIELD SERVICES MARKET, BY REGION, 2020 (% SHARE)

FIGURE 21 GLOBAL OILFIELD SERVICES MARKET, BY REGION, 2019–2028 (USD MILLION)

FIGURE 22 NORTH AMERICA: OILFIELD SERVICES MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 23 EUROPE: OILFIELD SERVICES MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 24 ASIA-PACIFIC: OILFIELD SERVICES MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 25 LATIN AMERICA: OILFIELD SERVICES MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 26 THE MIDDLE EAST & AFRICA: OILFIELD SERVICES MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 27 COMPETITIVE BENCHMARKING

FIGURE 28 GLOBAL OILFIELD SERVICES MAJOR PLAYERS MARKET SHARE ANALYSIS, 2020 (%)

FIGURE 29 SCHLUMBERGER LIMITED: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 30 SCHLUMBERGER LIMITED: SWOT ANALYSIS

FIGURE 31 HALLIBURTON CORPORATION: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 32 HALLIBURTON CORPORATION: SWOT ANALYSIS

FIGURE 33 BAKER HUGHES: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 34 BAKER HUGHES: SWOT ANALYSIS

FIGURE 35 WEATHERFORD: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 36 WEATHERFORD: SWOT ANALYSIS

FIGURE 37 NATIONAL OILWELL VARCOS: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 38 NATIONAL OILWELL VARCOS: SWOT ANALYSIS

FIGURE 39 ASIAN ENERGY SERVICES LIMITED: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 40 ASIAN ENERGY SERVICES LIMITED: SWOT ANALYSIS

FIGURE 41 TECHNIPFMC PLC: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 42 TECHNIPFMC PLC: SWOT ANALYSIS

FIGURE 43 SUPERIOR ENERGY SERVICES, INC: SWOT ANALYSIS

FIGURE 44 CHINA OILFIELD SERVICES LIMITED: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 45 CHINA OILFIELD SERVICES LIMITED: SWOT ANALYSIS

FIGURE 46 NABORS INDUSTRIES, LTD.: FINANCIAL OVERVIEW

FIGURE 47 NABORS INDUSTRIES, LTD.: SWOT ANALYSIS

FIGURE 48 ARCHER LIMITED: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 49 ARCHER LIMITED: SWOT ANALYSIS

FIGURE 50 EXPRO INTERNATIONAL GROUP: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 51 EXPRO INTERNATIONAL GROUP: SWOT ANALYSIS

FIGURE 52 TRICAN WELL SERVICE LTD.: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 53 TRICAN WELL SERVICE LTD..: SWOT ANALYSIS

FIGURE 54 PRECISION DRILLING CORPORATION: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 55 PRECISION DRILLING CORPORATION: SWOT ANALYSIS

FIGURE 56 CALFRAC WELL SERVICES, LTD.: FINANCIAL OVERVIEW SNAPSHOT

FIGURE 57 CALFRAC WELL SERVICES, LTD.: SWOT ANALYSIS

Oilfield Services Market

The global Oilfield Services Market is expected to reach USD 4,09,921.5 million by 2028 and register a CAGR of 5.12% during the forecast period of 2021 to 2028

Segmentation

By Service Type Well Completion Equipment & Services Well Intervention Services Coiled Tubing Services Pressure Pumping Services Octg Wireline Services Drilling Waste Management Services
By Application Onshore Offshore

Key Players

  • Schlumberger Limited (US)
  • Halliburton (US)
  • Baker Hughes (US)
  • Weatherford International plc (US)
  • National Oilwell Varcos (US)
  • Asian Energy Services Limited (India)
  • TechnipFMC plc (UK)
  • Superior Energy Services Inc (US)
  • China Oilfield Services Limited (China)

Drivers

  • Growing demand for enhanced oil recovery
  • Rapidly growing shale gas exploration
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The global oilfield services market is expected to reach USD 4,09,921.5 million by 2028 and register a CAGR of 5.12% during the forecast period of 2021 to 2028.


Oilfield Services Market Overview:


Oilfield services are the operations related to the oil used for the complete life cycle of well exploration. These operations include drilling,  exploration, stimulation, completion, intervention, and production. These services help operators in various ways by controlling the subsurface pressures, borehole erosion, lessening formation damage, optimizing drilling parameters, and analyzing penetration rate and hole cleaning. The latest technologies raise the efficiency in resource extraction and management. High accuracy, precision, and minimized time & labor costs are the few factors that escalate the advanced technologies in oilfield services.


In the oil & gas industry, the oilfield services are highly preferred in the upstream service, particularly in offshore assets. Owing to the surging production of oil & gas and the rise in shale gas extraction are projected to enhance the growth of the market. Decreasing the oilfield services cost and rising the production output are the major factors driving the market growth. Rising shale gas extraction from hydraulic fracturing and other stimulation procedures are accelerating the market growth. Growing demand for oil & gas from offshore areas is fueling the demand for the oilfield services in the market.


The global oilfield services market is expected to witness significant growth during the review period. Key drivers of the oilfield services market include the growth of the oil & gas industry and the rapidly growing shale gas exploration. Increased oil & gas investment in the potential region, i.e., Middle East & Africa, promotes the demand for oil & gas services. However, increasing focus on renewable energy production coupled with the fluctuating crude oil prices is the major hindrance to oilfield services market growth.


Oilfield Services Market Key Players


The prominent players in the global oilfield services market are Schlumberger Limited (US), Halliburton (US), Baker Hughes (US), Weatherford International plc (US), National Oilwell Varcos (US), Asian Energy Services Limited (India), TechnipFMC plc (UK), Superior Energy Services, Inc (US), and China Oilfield Services Limited (China) among others.


Recent Developments



  • In May 2021, Halliburton launched a massive coiled tubing intervention system at its new training facility in Louisiana. The system includes the largest, most powerful, and strongest components ever deployed, consists of Halliburton's V135HP coiled tubing injector, a reel capable of handling 36,000 feet of 2-3/8-inch coiled tubing, and a 750-ton capacity tension lift frame.

  • In July 2021, TechnipFMC acquired the remaining 49% of shares of Island Offshore Management AS (Island Offshore). TIOS AS, a joint venture between TechnipFMC and Island Offshore Management AS formed in 2018. TIOS provides fully integrated Riserless Light Well Intervention (RLWI) services, including project management and engineering for plug and abandonment, coiled tubing, and well completion and intervention operations, and has serviced over 740 wells globally since 2005.

  • In March 2021, Baker Hughes and Akastor ASA entered a joint venture to combine Baker Hughes’ Subsea Drilling Systems (SDS) business with Akastor’s wholly owned subsidiary, MHWirth AS (MHWirth).


Oilfield Services Market Dynamics


Drivers


  • Growing demand for enhanced oil recovery


The invention of plastics to overcome the problems with alternatives, such as wood, glass, paper & paperboard, and metal, boosted their adoption across several end-use verticals, including food & beverage, confectionery, personal care & cosmetics, wines & spirits, and fashion. This, unfortunately, gave rise to a severe problem of pollution and impacted the Earth’s ecosystems on which mankind depends largely. In 2018, the US Environmental Protection Agency (EPA) reported the generation of 14,530 thousand US tons of plastic containers and municipal solid waste. However, only 1,980 thousand US tons was recycled, resulting in 10,090 thousand US tons going into landfills in the same year. This is raising concerns over environmental sustainability and greenhouse gases and resulting in changing climatic conditions.



  • Rapidly growing shale gas exploration


Restraints


  • Increasing preference for renewable sources of energy


The growing use of renewable energy sources such as solar, wind, geothermal, biomass, and hydropower energy as an alternative to traditional fossil fuels such as oil and coal is expected to hamper the growth of the global and regional oilfield services market. The increasing environmental regulations to reduce carbon emissions and sustainable development drive the demand for renewable energy sources, primarily in the developed markets. The renewable energy consumption in 2018 increased by about 15% from 490.2 million tons oil equivalent in 2017 to 561.4 million tons oil equivalent.



  • Fluctuating crude oil prices


Opportunity


  • Increasing oil & gas investments in the MENA region


The total gas investments in MENA for 2021-2025 are expected to total USD 75 billion. Qatar, Saudi Arabia, and Iraq are the top three MENA countries in terms of committed gas investments. This is attributed to Qatar’s North Field East megaproject, Saudi Arabia’s gas-to-power drive, and the massive Jafurah unconventional gas development—likely to make the kingdom a global blue hydrogen exporter—and Iraq’s gas-to-power projects and determination to cut flaring and greenhouse gas emissions.


Oilfield Services Market Segment Overview:


By Service Type


  • Well completion equipment & services


Well completion services help accelerate production, increase the ultimate recovery, and maximize efficiency. After a well has been drilled to the required depth, completion is the process of making it ready for production or injection. Components of the completion equipment include production packers (various types), liner systems, subsurface flow control equipment (sleeves, nipples, chokes, valves, and plugs), subsurface safety valves (SSSV), and screens when required.



  • Well intervention services


The well intervention services segment accounted for a market share of 4.29% in 2020. Well intervention helps safely enter a well with well control to do several tasks other than drilling. These services help extend the life of producing wells. A well may require intervention due to restrictions in flow, changes in reservoir characteristics, sand production, mechanical failure, or access to additional hydrocarbon pay zones.



  • Coiled tubing services


The coiled tubing services segment held the market share of 2.40% in 2020 and is expected to register a 4.37% CAGR during the forecast period and reach a market value of USD 9,303.8 million by 2028. The growth of the coiled tubing segment can be driven by growing demand from the oil & gas industry for various applications such as perforating, matrix and fracture stimulation, wellbore cleanout, and other application.



  • Pressure pumping services


The pressure pumping services segment held the largest market share of 36.32% in 2020 and is expected to register a 5.22% CAGR during the forecast period and reach a market value of USD 1,50,061.9 million by 2028. Pressure Pumping offers advanced chemical technology and services for safe and effective production enhancements. It has a wide range of applications in oilfield services such as water blast, hydro-mining, and jet cutting. Pressure pumping services include acidizing, fracturing and fluid systems, and miscellaneous pumping for well applications.



  • OCTG


OCTG services are expected to account for a high share of the global oilfield service market due to increasing investments in the offshore sector and the growing number of offshore discoveries. These services provide equipment consisting of drill pipe, casing, and tubing, for drilling and the completion of oil or natural gas wells.



  • Wireline services


The wireline services segment accounted for a market share of 15.32% in 2020 and is anticipated to grow significantly during the study period and reach a market value of USD 61,778 million by 2028. Wireline services include open-hole and cased-hole logging services that measure the physical properties of underground formations to determine production potential, detect cement and casing integrity issues.



  • Drilling waste management services


The drilling waste management services segment accounted for a market share of 3.25% in 2020 and is expected to register a larger CAGR of 4.78% during the forecast period and reach a market value of USD 13,001.8 million by 2028. The drilling waste management process plays a crucial role in oil & gas Exploration and Production (E&P). This process is used to safely and efficiently drill cutting. It includes directional drilling, logging drilling, and rotary-steerable systems. This service segment covers a full range of downhole equipment, including high-temperature and high-pressure sensors, drilling reamers, and circulation subs.


By Application


  • Onshore


Onshore oil field services consist of specific technologies and management approaches that can efficiently and effectively extract undersea oil and gas. Onshore application is widely implemented in North America and the Middle East & Africa, where the maximum number of onshore wells and manufacturers and providers are located for oilfield services. The other factors driving the growth of onshore applications are improved investment in oil and gas and new well discoveries, which are expected to contribute to the segment's growth in the global oilfield services market during the forecast period.



  • Offshore


The offshore segment accounted for a market share of 25.21% in 2020 and is expected to register a CAGR of 4.59% during the forecast period to reach a market value of USD 99,275.5 million in 2028. The growth in segment can be attributed to the major discoveries included Deepwater offshore field discovery in Senegal, Shetland Islands, Alpine high in West Texas, the US, and Golan Heights in Israel, among others. Well completion and well-intervention services are widely used in offshore applications.


Oilfield Services Market Regional Analysis


The global oilfield services market has been segmented, on the basis of region, into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.


GLOBAL oilfield services market, BY REGION, 2020 (% SHARE)
GLOBAL oilfield services market, BY REGION, 2020 (% SHARE)
Source: MRFR analysis


North America


North America accounted for oilfield service market share of 41.39% in 2020 and is expected to register a CAGR of 5.50% during the forecast period North America is one of the leading markets for oilfield services, owing to the increasing drilling & production activities. In the US, advancements in hydraulic fracturing technology have helped the operators increase their shale production in this region. Thus, the country is one of the largest markets for drilling oilfield services. In 2018, the US had 968 active rigs and more than a million producing wells, and it is one of the largest markets for drilling oilfield services market in the world.


Europe


Europe has been segmented into Germany, Russia, Italy, France, the UK, Spain, Poland, the Netherlands, Belgium, and the Rest of Europe. The availability of natural gas reserves in Europe in the North Sea, Black Sea, the Caspian, the Mediterranean, the Norwegian Sea, and the Barents Sea and the presence of large shale gas reserves present lucrative opportunities for the players operating in the European and international oilfield services market.


Impact of COVID-19


The first quarter of 2020 proved to be an unexpected turning point for the oil & gas and chemical industries. The combined effects of the COVID-19-related economic downturn and the oil price collapse reverberated throughout these industries, which were already dealing with difficult long-term trends. The oil & gas demand has decreased considerably during the pandemic, leading to a decreased demand from the industrial and commercial sectors. As most countries are under lockdown, economic activities have come to a standstill, and only essential industries are operating, leading to a substantial decline in demand for oil & gas.


Report Overview


The study covers the existing short-term and long-term market effects, helping decision-makers draft short-term and long-term plans for businesses by region. The oilfield services market report covers major regions in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. The report analyzes oilfield service market drivers, restraints, opportunities, challenges, and Porter's Five Forces.


Oilfield Services Market Competitive Landscape


The competitive landscape offers an analysis of the key developments by the companies operating in the global oilfield services market in the last three years. The global oilfield services market for oilfield services is projected to witness healthy growth during the forecast period, owing to the increasing demand from the oil & gas industries. The global market represents strong numbers in terms of consumption.


Oilfield Services Market Segmentation


Global Oilfield Services Market, by Service Type



  • Well Completion Equipment & Services

  • Well Intervention Services

  • Coiled Tubing Services

  • Pressure Pumping Services

  • OCTG

  • Wireline Services

  • Drilling Waste Management Services


Global Oilfield Services Market, by Application



  • Onshore

  • Offshore


Global Oilfield Services Market, by Region



  • North America

    • US

    • Canada

    • Mexico



  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Russia

    • Rest of Europe



  • Asia-Pacific

    • Japan

    • China

    • India

    • Southeast Asia

    • Rest of Asia-Pacific



  • Latin America

    • Brazil

    • Argentina

    • Chile

    • Rest of Latin America



  • Middle East & Africa

    • Iraq

    • Iran

    • Egypt

    • Saudi Arabia

    • Rest of the Middle East & Africa





Report Scope:
Report Attribute/Metric Details
  Market Size   2028: USD 4,09,921.5 million
  CAGR   5.12%
  Base Year   2020
  Forecast Period   2021-2028
  Historical Data   2018 & 2019
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Service Type, Application, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
  Key Vendors   Schlumberger Limited (US), Halliburton (US), Baker Hughes (US), Weatherford International plc (US), National Oilwell Varcos (US), Asian Energy Services Limited (India), TechnipFMC plc (UK), Superior Energy Services, Inc (US), China Oilfield Services Limited (China)
  Key Market Opportunities   β€’ Increasing oil & gas investments in the MENA region
  Key Market Drivers   β€’ Growing demand for enhanced oil recovery β€’ Rapidly growing shale gas exploration


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Frequently Asked Questions (FAQ) :

• Horizontal drilling • Multilateral drilling • Extended reach drilling • Automated drilling

This technology allows the operators to reach the deposits that are unreachable by the drilling rigs. It could reach the surface areas where the vertical rigs can't reach.

• Drilling equipment • Pressure and flow control equipment • Fishing equipment

Fluctuation in the oil prices, decreased drilling activities are the major restraints of the Oilfield service industry.