Oilfield Services Market Is Booming Worldwide Size, Development Growth Strategies, Product Scope and Forecast by 2027

Posted on Jun 23 2022 4:25 AM

"Key Companies Covered in Oilfield Services Market are Schlumberger, Halliburton, Baker Hughes, Weir Oil and Gas, Emerson, National Oilwell Varco, Weatherford, AlMansoori Specialized Engineering, Saudi Aramco, Protiviti, Abu Dhabi Oilfield Services, YAS Oilfield Services, Superior Oilfield Services LLC, National Arabian Petroleum Services Company, Larsen & Toubro, Oceaneering, China Oilfield Services Ltd., Petroleum Dynamics Oil and Gas, Petroleum Services Co. Kuwait, SPECIAL OILFIELD SERVICES CO. L.L.C., Vallourec, BJ Services, STARK International, Ruker Inc., Xi'an Huayang Oil&Gas Equipment Co., Ltd., ADES - Advanced Energy Systems, Biyaq Oilfield Services, Petrodar Operating Company, Middle East Oilfield Services LLC "

The global oilfield services market size was USD 267.82 billion in 2019 and is projected to reach USD 346.45 billion by 2027, exhibiting a CAGR of 6.6% during the forecast period.

The Oilfield Services Market 2022 | Energy And Power Industry Global Analysis by Covid-19 Impact On, Size, Trends, Growth, Share, Business, Key Players, Merger, Statistics, Competitive Landscape, And Regional Forecast To 2027 is latest study published by Fortune Business Insights.The Oilfield Services Market Growth rate or CAGR exhibited by a market for a given forecast period is calculated based on various factors and their level of impact on the market.

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                           Oilfield Services Market

Key Industry Development: 

June 2020: Norwegian oil and gas company Equinor awarded two contracts worth up to USD 187,1 million to oilfield services provider Technip. Under the contract, TechnipFMC will provide pipelaying and subsea installation for three projects on the Norwegian continental shelf (NCS).

Oilfield Services Market Report Scope: 

Market size available for years 2020-2027
CAGR Value  6.6%
Base year considered 2019
Historical data 2016-2018
Forecast Period 2020-2027
Quantitative units Revenue in USD million and CAGR from 2020-20271
Segments Covered Types, Applications, End-Users, and more.
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
Customization scope Report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options Avail of customized purchase options to meet your exact research needs. Explore purchase options


Industry Globalization Drivers:

Growing Demand for Shale Gas to Propel Market

The increasing demand for shale gas has led to the advancement in technologies such as directional drilling and hydraulic fracturing technology to improve the production process in reservoirs. The high requirement for oilfield services during extraction can spur opportunities for the market. The ongoing plans and strategies to enhance the production of shale gas will simultaneously enrich the business of the market during the forecast period. For instance, China has announced that it will escalate its production up to 30 bcm/per year by 2020, and 80-100 bcm/per year by 2030 through advanced technologies and drilling techniques. China accounts for a high percent of shale gas production, which originally comes from the Sichuan Basin located in the Chongqing area. Moreover, the increasing exploration activities for untapped resources will enable healthy growth of the market in the forthcoming years.

The Oilfield Services Market COVID-19 influence analysis:

  • Pre & post COVID-19 market size
  • A qualitative investigation of the long-term & short term influence of COVID-19 on the industry
  • The analysis provides the main approaches adopted by competitors to minimize the impact of the epidemics on their enterprise activities & scope for future developments.

Stepping into a Post-COVID Economy: How Energy and Power Industry Will Play an Essential Role in its Recovery. Request Sample Copy

The study provides analysis on market participants including:

  • Schlumberger (Texas, United States)
  • Halliburton (Texas, United States)
  • Baker Hughes (Texas, United States)
  • Weir Oil and Gas (Glasgow, United Kingdom)
  • Emerson (Missouri, United States)
  • National Oilwell Varco (Texas, United States)
  • Weatherford (Texas, United States)
  • AlMansoori Specialized Engineering (Abu Dhabi, UAE)
  • Saudi Aramco (Dhahran, Saudi Arabia)
  • Protiviti (California, United States)
  • Abu Dhabi Oilfield Services (Abu Dhabi, UAE)
  • YAS Oilfield Services (Texas, US)
  • Superior Oilfield Services LLC (Abu Dhabi, UAE)
  • National Arabian Petroleum Services Company (Dammam, Saudi Arabia)
  • Larsen & Toubro (Mumbai, India)
  • Oceaneering (Houston, Texas)
  • China Oilfield Services Ltd. (Beijing, China)
  • Petroleum Dynamics Oil and Gas (East Ahmadi, Kuwait)
  • Petroleum Services Co. Kuwait (Kuwait)
  • Vallourec (Boulogne-Billancourt, France)
  • BJ Services (Texas, U.S.)
  • STARK International (Doha -Qatar)
  • Ruker Inc. (Billerica, Massachusetts)
  • Xi'an Huayang Oil&Gas Equipment Co., Ltd. (Xi'an, Shaanxi)
  • ADES - Advanced Energy Systems (Egypt)
  • Biyaq Oilfield Services (Mawaleh, Muscat)
  • Petrodar Operating Company (PDOC) (Khartoum, Sudan)
  • Middle East Oilfield Services LLC (Muscat, Oman)

Segmental Outlook

Key segments, including types and applications, were detailed in this report. Consultants of verified market reports studied all segments and used historical data to provide market size. They also talked about the growth opportunities the segment could pose in the future. The study provides production and revenue data by type and application during the past period and forecast period(2022-2027).

Highlights of the Report:

Industry Overview: The first section of the research study covers an overview of the global Oilfield Services Market,market status and prospects,and product range. In addition,it provides highlights of the major segments of the global Oilfield Services Market,i.e. region, type and application segments.

 Competitive Analysis:This report illuminates important mergers and acquisitions,business expansion,product or service differences,market concentration,competitive status of the global Oilfield Services Market, and market size by player.

Company Profiles and Key Data:This section covers companies profiling the major players in the global Oilfield Services Market based on the aforementioned revenue,products,business and other factors.

 Market size by type and application:In addition to providing in-depth analysis of the global Oilfield Services Market size by type and application,this section provides research on top end users or consumers and potential applications.

Market Dynamics: This report covers the drivers, trends and opportunities of the global Oilfield Services Market. This section also includes Porter's analysis of five forces.

 Findings and Conclusions:It provides strong recommendations for new as well as established players for securing a position of strength in the global Oilfield Services Market.

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Detailed TOC of Global Oilfield Services Market Report 2022

Oilfield Services Market Introduction and Market Overview

  • Objectives of the Study
  • Overview of Oilfield Services Market
  • Oilfield Services Market Market Scope and Market Size Estimation
  • Market Concentration Ratio and Market Maturity Analysis
  • Global Oilfield Services Market Revenue and Growth Rate

 Market Segmentation

  • Types of Oilfield Services Market
  • Applications of Oilfield Services Market
  • Research Regions
  • Market Dynamics
  • Oilfield Services Market Industry Trends
  • Oilfield Services Market Drivers
  • Oilfield Services Market Market Challenges
  • Oilfield Services Market Market Restraints
  • Industry News and Policies by Regions
  • Industry News
  • Industry Policies
  • Mergers & Acquisitions, Expansion Plans
  • Oilfield Services Market Development Trends under COVID-9 Outbreak
  • Global COVID-9 Status Overview
  • Influence of COVID-9 Outbreak on Oilfield Services Market Industry Development

Industry Chain Analysis

  • Upstream Raw Material Supply and Demand Analysis
  • Global Oilfield Services Market Major Upstream Raw Material and Suppliers
  • Raw Material Source Analysis
  • Major Players of Oilfield Services Market
  • Major Players Manufacturing Base of Oilfield Services Market in 2027
  • Major Players Market Distribution in 2027
  • Oilfield Services Market Manufacturing Cost Structure Analysis
  • Production Process Analysis
  • Manufacturing Cost Structure of Oilfield Services Market
  • Market Channel Analysis of Oilfield Services Market
  • Major Down Stream Customers by Application


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