“China’s Shale Revolution are the reasons that will improve the worldwide market”, says Visiongain

29 November 2019
Energy

The Oilfield Services Market Report 2020-2030: Forecasts by Services (Well Completion Equipment & Services, Well Intervention Services, Coiled Tubing Services, Pressure Pumping Services, OCTG, Wireline Services), By Application (Onshore, Offshore), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and analysis of leading companies operating in this industry.

Oilfield facilities include, among many others, numerous oil-related activities such as discovery, excavation, construction, stabilization, development, and involvement to achieve different objectives throughout the entire life cycle of oil well exploration. In well logging, perforation, zonal separation, well relaxation, sand cleaning, and placing tubing plugs, the facilities are also useful. Such facilities support explorers in discovering and processing oil and gas reserves. The key factors that are expected to drive market growth are the discovery of new oil & gas fields along with growing crude oil production volume coupled with the implementation of EOR methodology in maturing oilfields.

Mexican oil & gas industry liberalization along with Mexican oil & gas industry liberalization along with U.S. & China's Shale Revolution are the reasons that will improve the worldwide market. In addition, declines in Asian countries such as Indonesia and Thailand's oil output are other variables that will stimulate market growth. Reduction in exploration-related mining activities along with falling prices of crude oil are key factors that hamper market growth. Recent oil & gas discoveries in the Arctic region, along with growing mergers & acquisitions and re-fracking of conventional oil & gas wells, are the reasons that are expected to offer this industry ample growth opportunities.

The sector is positively affected by technological advances that improve efficiency of oilfield services. Oilfield service providers use these developments to improve productivity by automating oilfield operations and facilities, investing in high-performance software and technologies, and using data-driven methodology to automate practices such as mining, fracking, and manufacturing. Additionally, high reliability, accuracy and decline in time and labour costs and time are other factors why service providers make extensive use of technologically advanced oilfield equipment, thereby having a positive effect on market growth over the forecast period at a CAGR of more than 3 percent.

The global market for oilfield equipment is highly fragmented. The industry is in the growth phase, and by the end of the forecast period, rivalry is anticipated to become less strong. The research report offers an overview of the competitive landscape of the industry and provides information on the products offered by different leading companies in order to help clients increase their sales shares in the sector.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

Visiongain Publishes Coal Tar Market Report 2020-2030

Supply gap due to production halt brought about by COVID-19 pandemic is expected restrict sales growth. However, the rising demand for coal tar products from the healthcare sector is expected to stabilize market growth during the forecast period.

25 September 2020

Read

Visiongain Publishes Circuit Tracers Market Report 2020-2030

Increasing raw material prices is expected to hinder market growth. Furthermore, short term demand drops from the industrial segment due to COVID-19 lockdowns is expected to decline circuit breaker sales.

25 September 2020

Read

Visiongain Publishes Choke and Kill Manifold Market Report 2020-2030

The expanding offshore drilling operations carried out under high-pressure and high temperature conditions, has resulted in the demand for choke and kill manifolds to witness a significant rise.

25 September 2020

Read

Visiongain Publishes Asia Oil Country Tubular Goods (OCTG) Market Report 2020-2030

Oil country tubular goods are likely to be accelerated through an anticipated recovery of crude oil prices and strategic measures taken by the companies operating in the upstream sector to increase the E&P activities.

25 September 2020

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever