Oilfield Services Market Size, Share, and Analysis, By Service (Drilling Services, Well Completion Equipment & Service, Well Intervention Services, Coiled Tubing Services, Pressure Pumping Services, Seismic Services, and Others), By Deployment (Offshore and Onshore), By Type (Equipment Rental, Field Operation, Analytical, Consulting Services, and Others), By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034
Oilfield Services Market Size, Share, and Analysis, By Service (Drilling Services, Well Completion Equipment & Service, Well Intervention Services, Coiled Tubing Services, Pressure Pumping Services, Seismic Services, and Others), By Deployment (Offshore and Onshore), By Type (Equipment Rental, Field Operation, Analytical, Consulting Services, and Others), By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034
PRODUCT OVERVIEW
Oilfield Services Market is anticipated t%li%grow at a CAGR of 5.6% in the forecast period (2024-2034), with the market size valued at USD 283.9 billion in 2023 and projected t%li%reach USD 515.1 billion by 2034.
Oil field services refers t%li%a wide range of activities that are required for the exploration, drilling, production, and maintenance of oil and gas wells. These services involve seismic testing and well logging, along with stimulation and maintenance. Moreover, in order t%li%help oil & gas producers extract resources more effectively and safely, professional companies in this sector offer manpower, equipment, and knowledge. They use advanced technologies and methods t%li%enhance production, reduce environmental impact, and improve safety standards. Additionally, oil field services are required throughout the whole oil & gas production lifetime, from early exploration t%li%frequent maintenance. They considerably improve the profitability and efficiency of oil and gas firms by providing advanced solutions t%li%satisfy industry needs. Therefore, the significance of oilfield services highlights its role in supporting the operations of global energy industry and maintain a steady supply of oil & gas resources.
MARKET HIGHLIGHTS
Oilfield Services Market is anticipated t%li%reach USD 515.1 billion, growing at a CAGR of 5.6% during the forecast period, due t%li%growing demand for better equipment and technologically equipped services. Innovations in smart drilling and well completion services which is driven by data analytics and visualization, have profoundly impacted the efficiency of the oil & gas sector. These technologies allow companies t%li%improve operations and safety, along with reducing environmental impact. Additionally, the combination of technological platforms and traditional methods indicates an important shift, which encourages growth and innovation across the oilfield service market. Moreover, as corporations adopt these changes, the oilfield sector is expected t%li%witness further change and will gradually adapt t%li%evolving needs, thereby ensuring its role in global energy provision.
Oilfield Services Market Segments:
Growth Drivers
Increasing Global Energy Demand in the Industry will favour Market Growth
Technological Advancements in Reservoir Assessment Services are Beneficial for Market Development
Restraint
Fluctuations in Crude Oil Prices Can Hinder Market growth
Key Players
PRODUCT OVERVIEW
Oilfield Services Market is anticipated t%li%grow at a CAGR of 5.6% in the forecast period (2024-2034), with the market size valued at USD 283.9 billion in 2023 and projected t%li%reach USD 515.1 billion by 2034.
Oil field services refers t%li%a wide range of activities that are required for the exploration, drilling, production, and maintenance of oil and gas wells. These services involve seismic testing and well logging, along with stimulation and maintenance. Moreover, in order t%li%help oil & gas producers extract resources more effectively and safely, professional companies in this sector offer manpower, equipment, and knowledge. They use advanced technologies and methods t%li%enhance production, reduce environmental impact, and improve safety standards. Additionally, oil field services are required throughout the whole oil & gas production lifetime, from early exploration t%li%frequent maintenance. They considerably improve the profitability and efficiency of oil and gas firms by providing advanced solutions t%li%satisfy industry needs. Therefore, the significance of oilfield services highlights its role in supporting the operations of global energy industry and maintain a steady supply of oil & gas resources.
MARKET HIGHLIGHTS
Oilfield Services Market is anticipated t%li%reach USD 515.1 billion, growing at a CAGR of 5.6% during the forecast period, due t%li%growing demand for better equipment and technologically equipped services. Innovations in smart drilling and well completion services which is driven by data analytics and visualization, have profoundly impacted the efficiency of the oil & gas sector. These technologies allow companies t%li%improve operations and safety, along with reducing environmental impact. Additionally, the combination of technological platforms and traditional methods indicates an important shift, which encourages growth and innovation across the oilfield service market. Moreover, as corporations adopt these changes, the oilfield sector is expected t%li%witness further change and will gradually adapt t%li%evolving needs, thereby ensuring its role in global energy provision.
Oilfield Services Market Segments:
- By Services
- Drilling Services
- Well Completion Equipment & Service
- Well Intervention Services
- Coiled Tubing Services
- Pressure Pumping Services
- Seismic Services
- Others
- By Deployment
- Offshore
- Onshore
- By Type
- Equipment Rental
- Field Operation
- Analytical
- Consulting Services
- Others
Growth Drivers
Increasing Global Energy Demand in the Industry will favour Market Growth
Technological Advancements in Reservoir Assessment Services are Beneficial for Market Development
Restraint
Fluctuations in Crude Oil Prices Can Hinder Market growth
Key Players
- Schlumberger Limited
- Baker Hughes
- Weatherford International
- Halliburton
- National Oilwell Varco
- Transocean Ltd.
- Nabors Industries Ltd.
- Oceaneering International, Inc.
- Archer Limited
- TechnipFMC
- Saipem
- Sinopec Oilfield Service Corporation
- Petrofac
- China Oilfield Services Limited
- Superior Energy Services, Inc.
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight int%li%the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
- 3-month post-sales analyst support.
1. EXECUTIVE SUMMARY
1.1.Regional Market Share
1.2. Business Trends
1.3.Oilfield Services Market: COVID-19 Outbreak
1.4.Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1. Research Objective
2.2.Research Approach
2.3.Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
2.5.1. Paid Sources
2.5.2.Public Sources
2.6.Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1. Market Definition
3.2.Oilfield Services Market: COVID-19 Impact
3.3.Key Segmentations
3.4. Key Developments
3.5. Allied Industry Data
4. OILFIELD SERVICES MARKET – INDUSTRY INSIGHTS
4.1.Industry Segmentation
4.2. COVID-19 overview on world economy
4.3. Industry ecosystem Channel analysis
4.4. Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7.MARKET DYNAMICS
7.1. Introduction
7.2.Growth Drivers
7.3.Market Opportunities
7.4. Market Restraints
7.5.Market Trends
8. RISK ANALYSIS
9. MARKET ANALYSIS
9.1. Porters Five Forces
9.2.PEST Analysis
9.2.1. Political
9.2.2.Economic
9.2.3.Social
9.2.4.Technological
10. OILFIELD SERVICES MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11.OILFIELD SERVICES MARKET SIZE & FORECAST 2024A-2034F
11.1.Overview
11.2. Key Findings
11.3. Market Segmentation
11.3.1.By Services
11.3.1.1. Drilling Services
11.3.1.1.1. By Value (USD Million) 2024-2034F
11.3.1.1.2.Market Share (%) 2024-2034F
11.3.1.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.2. Well Completion Equipment & Service
11.3.1.2.1.By Value (USD Million) 2024-2034F
11.3.1.2.2. Market Share (%) 2024-2034F
11.3.1.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.3.Well Intervention Services
11.3.1.3.1.By Value (USD Million) 2024-2034F
11.3.1.3.2. Market Share (%) 2024-2034F
11.3.1.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.4.Coiled Tubing Services
11.3.1.4.1.By Value (USD Million) 2024-2034F
11.3.1.4.2. Market Share (%) 2024-2034F
11.3.1.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.5.Pressure Pumping Services
11.3.1.5.1.By Value (USD Million) 2024-2034F
11.3.1.5.2. Market Share (%) 2024-2034F
11.3.1.5.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.6.Seismic Services
11.3.1.6.1.By Value (USD Million) 2024-2034F
11.3.1.6.2. Market Share (%) 2024-2034F
11.3.1.6.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.7.Others
11.3.1.7.1.By Value (USD Million) 2024-2034F
11.3.1.7.2. Market Share (%) 2024-2034F
11.3.1.7.3. Y-o-Y Growth (%) 2024-2034F
11.3.2. By Deployment
11.3.2.1.Offshore
11.3.2.1.1.By Value (USD Million) 2024-2034F
11.3.2.1.2. Market Share (%) 2024-2034F
11.3.2.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Onshore
11.3.2.2.1. By Value (USD Million) 2024-2034F
11.3.2.2.2.Market Share (%) 2024-2034F
11.3.2.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.3. By Type
11.3.3.1.Equipment Rental
11.3.3.1.1.By Value (USD Million) 2024-2034F
11.3.3.1.2. Market Share (%) 2024-2034F
11.3.3.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Field Operation
11.3.3.2.1. By Value (USD Million) 2024-2034F
11.3.3.2.2.Market Share (%) 2024-2034F
11.3.3.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.3. Analytic
11.3.3.3.1. By Value (USD Million) 2024-2034F
11.3.3.3.2.Market Share (%) 2024-2034F
11.3.3.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.4. Consulting Service
11.3.3.4.1. By Value (USD Million) 2024-2034F
11.3.3.4.2. Market Share (%) 2024-2034F
11.3.3.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.5. Others
11.3.3.5.1. By Value (USD Million) 2024-2034F
11.3.3.5.2.Market Share (%) 2024-2034F
11.3.3.5.3.Y-o-Y Growth (%) 2024-2034F
12. NORTH AMERICA OILFIELD SERVICES MARKET SIZE & FORECAST 2024A-2034F
12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Services
12.3.2.By Deployment
12.3.3.By Type
12.4. Country
12.4.1. United States
12.4.2.Canada
13. EUROPE OILFIELD SERVICES MARKET SIZE & FORECAST 2024A-2034F
13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1. By Services
13.3.2.By Deployment
13.3.3.By Type
13.4. Country
13.4.1.Germany
13.4.2.United Kingdom
13.4.3.France
13.4.4. Italy
13.4.5.Spain
13.4.6.Russia
13.4.7.Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14. ASIA-PACIFIC OILFIELD SERVICES MARKET SIZE & FORECAST 2024A-2034F
14.1.Overview
14.2. Key Findings
14.3. Market Segmentation
14.3.1. By Services
14.3.2.By Deployment
14.3.3.By Type
14.4. Country
14.4.1. India
14.4.2.China
14.4.3. South Korea
14.4.4. Japan
14.4.5. Rest of APAC
15. MIDDLE EAST AND AFRICA OILFIELD SERVICES MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1. By Services
15.3.2.By Deployment
15.3.3.By Type
15.4. Country
15.4.1. Israel
15.4.2.GCC
15.4.3.North Africa
15.4.4. South Africa
15.4.5.Rest of Middle East and Africa
16. LATIN AMERICA OILFIELD SERVICES MARKET SIZE & FORECAST 2024A-2034F
16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Services
16.3.2.By Deployment
16.3.3.By Type
16.4. Country
16.4.1. Mexico
16.4.2.Brazil
16.4.3.Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1. Company market share, 2023
17.2.Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1.Schlumberger Limited
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2. Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Halliburton
18.3. Baker Hughes
18.4. Weatherford International
18.5. National Oilwell Varco
18.6. TechnipFMC
18.7. Saipem
18.8. Sinopec Oilfield Service Corporation
18.9.Petrofac
18.10. China Oilfield Services Limited
18.11. Transocean Ltd.
18.12.Nabors Industries Ltd.
18.13.Oceaneering International, Inc.
18.14. Archer Limited
18.15.Superior Energy Services, Inc.
18.16. Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
1.1.Regional Market Share
1.2. Business Trends
1.3.Oilfield Services Market: COVID-19 Outbreak
1.4.Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1. Research Objective
2.2.Research Approach
2.3.Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
2.5.1. Paid Sources
2.5.2.Public Sources
2.6.Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1. Market Definition
3.2.Oilfield Services Market: COVID-19 Impact
3.3.Key Segmentations
3.4. Key Developments
3.5. Allied Industry Data
4. OILFIELD SERVICES MARKET – INDUSTRY INSIGHTS
4.1.Industry Segmentation
4.2. COVID-19 overview on world economy
4.3. Industry ecosystem Channel analysis
4.4. Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7.MARKET DYNAMICS
7.1. Introduction
7.2.Growth Drivers
7.3.Market Opportunities
7.4. Market Restraints
7.5.Market Trends
8. RISK ANALYSIS
9. MARKET ANALYSIS
9.1. Porters Five Forces
9.2.PEST Analysis
9.2.1. Political
9.2.2.Economic
9.2.3.Social
9.2.4.Technological
10. OILFIELD SERVICES MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11.OILFIELD SERVICES MARKET SIZE & FORECAST 2024A-2034F
11.1.Overview
11.2. Key Findings
11.3. Market Segmentation
11.3.1.By Services
11.3.1.1. Drilling Services
11.3.1.1.1. By Value (USD Million) 2024-2034F
11.3.1.1.2.Market Share (%) 2024-2034F
11.3.1.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.2. Well Completion Equipment & Service
11.3.1.2.1.By Value (USD Million) 2024-2034F
11.3.1.2.2. Market Share (%) 2024-2034F
11.3.1.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.3.Well Intervention Services
11.3.1.3.1.By Value (USD Million) 2024-2034F
11.3.1.3.2. Market Share (%) 2024-2034F
11.3.1.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.4.Coiled Tubing Services
11.3.1.4.1.By Value (USD Million) 2024-2034F
11.3.1.4.2. Market Share (%) 2024-2034F
11.3.1.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.5.Pressure Pumping Services
11.3.1.5.1.By Value (USD Million) 2024-2034F
11.3.1.5.2. Market Share (%) 2024-2034F
11.3.1.5.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.6.Seismic Services
11.3.1.6.1.By Value (USD Million) 2024-2034F
11.3.1.6.2. Market Share (%) 2024-2034F
11.3.1.6.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.7.Others
11.3.1.7.1.By Value (USD Million) 2024-2034F
11.3.1.7.2. Market Share (%) 2024-2034F
11.3.1.7.3. Y-o-Y Growth (%) 2024-2034F
11.3.2. By Deployment
11.3.2.1.Offshore
11.3.2.1.1.By Value (USD Million) 2024-2034F
11.3.2.1.2. Market Share (%) 2024-2034F
11.3.2.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Onshore
11.3.2.2.1. By Value (USD Million) 2024-2034F
11.3.2.2.2.Market Share (%) 2024-2034F
11.3.2.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.3. By Type
11.3.3.1.Equipment Rental
11.3.3.1.1.By Value (USD Million) 2024-2034F
11.3.3.1.2. Market Share (%) 2024-2034F
11.3.3.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Field Operation
11.3.3.2.1. By Value (USD Million) 2024-2034F
11.3.3.2.2.Market Share (%) 2024-2034F
11.3.3.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.3. Analytic
11.3.3.3.1. By Value (USD Million) 2024-2034F
11.3.3.3.2.Market Share (%) 2024-2034F
11.3.3.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.4. Consulting Service
11.3.3.4.1. By Value (USD Million) 2024-2034F
11.3.3.4.2. Market Share (%) 2024-2034F
11.3.3.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.5. Others
11.3.3.5.1. By Value (USD Million) 2024-2034F
11.3.3.5.2.Market Share (%) 2024-2034F
11.3.3.5.3.Y-o-Y Growth (%) 2024-2034F
12. NORTH AMERICA OILFIELD SERVICES MARKET SIZE & FORECAST 2024A-2034F
12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Services
12.3.2.By Deployment
12.3.3.By Type
12.4. Country
12.4.1. United States
12.4.2.Canada
13. EUROPE OILFIELD SERVICES MARKET SIZE & FORECAST 2024A-2034F
13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1. By Services
13.3.2.By Deployment
13.3.3.By Type
13.4. Country
13.4.1.Germany
13.4.2.United Kingdom
13.4.3.France
13.4.4. Italy
13.4.5.Spain
13.4.6.Russia
13.4.7.Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14. ASIA-PACIFIC OILFIELD SERVICES MARKET SIZE & FORECAST 2024A-2034F
14.1.Overview
14.2. Key Findings
14.3. Market Segmentation
14.3.1. By Services
14.3.2.By Deployment
14.3.3.By Type
14.4. Country
14.4.1. India
14.4.2.China
14.4.3. South Korea
14.4.4. Japan
14.4.5. Rest of APAC
15. MIDDLE EAST AND AFRICA OILFIELD SERVICES MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1. By Services
15.3.2.By Deployment
15.3.3.By Type
15.4. Country
15.4.1. Israel
15.4.2.GCC
15.4.3.North Africa
15.4.4. South Africa
15.4.5.Rest of Middle East and Africa
16. LATIN AMERICA OILFIELD SERVICES MARKET SIZE & FORECAST 2024A-2034F
16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Services
16.3.2.By Deployment
16.3.3.By Type
16.4. Country
16.4.1. Mexico
16.4.2.Brazil
16.4.3.Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1. Company market share, 2023
17.2.Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1.Schlumberger Limited
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2. Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Halliburton
18.3. Baker Hughes
18.4. Weatherford International
18.5. National Oilwell Varco
18.6. TechnipFMC
18.7. Saipem
18.8. Sinopec Oilfield Service Corporation
18.9.Petrofac
18.10. China Oilfield Services Limited
18.11. Transocean Ltd.
18.12.Nabors Industries Ltd.
18.13.Oceaneering International, Inc.
18.14. Archer Limited
18.15.Superior Energy Services, Inc.
18.16. Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
