Oil And Gas Fishing Market Analysis, Size, and Forecast 2025-2029: North America (US, Canada, and Mexico), Europe (France, Germany, and UK), APAC (Australia, China, India, and Japan), and Rest of World (ROW)

Oil And Gas Fishing Market Size 2025-2029

The oil and gas fishing market size is forecast to increase by USD 2.24 billion, at a CAGR of 6.4% between 2024 and 2029.

• The market is driven by the escalating demand for oil and gas, necessitating the need for effective fishing techniques to extract resources from reservoirs. Technological advancements in exploration, mechanical elements, fishing operations, and shale gas production through horizontal drilling and hydraulic fracturing, also play a significant role. However, the market faces a significant challenge: the lack of skilled labor to operate these advanced technologies. As the industry evolves, companies must invest in training programs to address this workforce shortage and ensure the successful implementation of innovative fishing solutions. Furthermore, the increasing adoption of intelligent fishing systems, including real-time monitoring and automation, is expected to enhance operational efficiency and productivity.
• Despite these opportunities, the industry must also navigate the challenges posed by complex reservoir conditions and stringent regulatory requirements. By staying abreast of technological advancements and investing in workforce development, companies can capitalize on market opportunities and navigate challenges effectively. Drilling projects rely on a myriad of mechanical elements, including pumps and drill strings, to extract resources. This trend is expected to continue, making it essential for companies to invest in training and development programs to meet the growing demand for expertise.

What will be the Size of the Oil And Gas Fishing Market during the forecast period?

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• The market encompasses the intersection of the seafood industry and various sectors of the energy industry. This market is influenced by numerous factors, including marine ecology, fishing economics, and renewable energy. For instance, the proliferation of offshore wind farms poses both opportunities and challenges for fishing communities. On one hand, these installations can create artificial reefs, attracting fish and boosting seafood population dynamics. On the other hand, they can disrupt traditional fishing strategies and require the adoption of new techniques, such as subsea intervention and the use of autonomous underwater vehicles. Climate change and ocean acidification also impact the fishing industry, affecting fish behavior and physiology.
• To mitigate these effects, researchers employ oceanographic research and underwater robotics to monitor fish population dynamics and develop sustainable fishing strategies. Meanwhile, the rise of seafood culture and tourism creates new opportunities for seafood processing, retail, and packaging. Furthermore, the integration of renewable energy into the oil and gas sector is transforming the market landscape. For example, carbon capture technologies can reduce greenhouse gas emissions from offshore oil and gas operations, while seismic surveys and pipeline inspection can be conducted using renewable energy sources. In the realm of underwater robotics, the development of remotely operated vehicles and autonomous underwater vehicles is enabling more efficient and eco-friendly exploration and intervention activities.

How is this Oil And Gas Fishing Industry segmented?

The oil and gas fishing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

• Application
  • Onshore
  • Offshore
• Product
  • Casing cutters
  • Milling tools
  • Overshoots and spears
  • Fishing jars
• Type
  • Fishing tools
  • Fishing services
  • Rental services
• Geography
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • UK
  • APAC
    • Australia
    • China
    • India
    • Japan
  • Rest of World (ROW)

By Application Insights

The onshore segment is estimated to witness significant growth during the forecast period. In the dynamic marine environment, various entities intertwine to shape the market. Onshore activities, a crucial component, encompass drilling rigs extracting oil and gas through advanced technology and machinery. Hydrographic surveys and seabed mapping aid in locating potential resources, while fishery management and environmental monitoring ensure sustainable practices. Fish handling, seafood safety, and fish storage are integral to the seafood supply chain, which is influenced by fishing quotas, seasons, and target species. Navigation systems and weather forecasting ensure safe and efficient operations, as does corrosion prevention and fishing vessel design. Fishing gear maintenance, innovation, and bycatch reduction contribute to economic impact and sustainability.

Offshore fishing involves drilling rigs, production platforms, and catch processing, with fish aggregating devices and sonar systems used to locate fish stocks. Offshore fishing in regions like the Gulf of Mexico and the North Sea involves submarine drilling, well integrated production, and well management. Subsea fishing and trawl nets are employed, while training and certification ensure workboat safety and adherence to fishing regulations. Seafood labeling and distribution maintain transparency and trust in the market. Environmental concerns, such as marine pollution and biofouling control, are addressed through regulations and technological advancements. Oil spill prevention and emergency response systems ensure safety and minimize potential damage. Remote sensing and oceanographic data provide valuable insights into the marine ecosystem and resource availability. In this complex and evolving market, collaboration and innovation are key to addressing challenges and ensuring long-term sustainability.

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The Onshore segment was valued at USD 4.39 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The marine industry in North America is marked by its abundant energy resources and advanced technologies, positioning it as a significant player in the market. With the presence of major oil and gas reserves, such as the Permian Basin in the US and the Alberta Oil Sands in Canada, North America provides a solid foundation for market growth. Leading oilfield service companies in the region specialize in fishing operations, leveraging their expertise and innovative technologies to drive efficiency and productivity. Hydrographic surveys and seabed mapping play crucial roles in the industry, ensuring safe and effective fishing practices. Weather forecasting and navigation systems enable fishermen to navigate the waters and optimize their operations.

Sustainable fishing practices, including bycatch reduction and fish stock management, are essential for maintaining fish populations and ensuring long-term economic viability. Environmental monitoring and marine pollution prevention are also key concerns, with regulations and certifications in place to ensure seafood safety and traceability. Fish handling and storage technologies help maintain the quality of the catch, while fish farming and fishery management contribute to the overall sustainability of the industry. Innovations in fishing vessel design, fishing gear maintenance, and fishfinder technology continue to shape the market. Oil spill prevention and emergency response systems are essential for mitigating risks and ensuring the safety of fishermen and the environment. The economic impact of the industry is significant, with contributions to the supply chain, from production platforms to seafood distribution and labeling. The market in North America is a dynamic and evolving landscape, shaped by the interplay of various entities, including fish species, fishing seasons, fishing quotas, and regulatory frameworks. The industry's focus on sustainability, innovation, and safety positions it for continued growth and success.

Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the Oil And Gas Fishing market drivers leading to the rise in the adoption of Industry?

• The increase in demand for oil and gas serves as the primary driver for market growth in this sector. The oil and gas industry's expansion is driven by the escalating energy demand resulting from industrialization and urbanization, particularly in developing countries. For instance, China's urbanization rate reached approximately 67% in 2024, with over two-thirds of its population residing in urban areas. This demographic shift has significantly increased the consumption of liquid fuels and natural gas. Moreover, the oil and gas sector encompasses various applications, including subsea fishing, production platforms, and catch processing. Ensuring workboat safety, seafood sustainability, biofouling control, and water quality are crucial aspects of these operations. Advanced technologies, such as sonar systems and fishing gear innovation, are employed to optimize catch yields and minimize environmental impact.

• Fishing licenses and seafood distribution are essential components of the industry's regulatory framework. Stringent regulations ensure the ethical and sustainable sourcing of target species, while emergency response plans safeguard both personnel and the environment. Seafood labeling is another critical aspect, enabling consumers to make informed decisions regarding their purchases. The oil and gas industry's growth is underpinned by the increasing demand for energy and the need for sustainable, efficient, and regulated fishing practices. Innovations in technology and regulations contribute to the industry's ongoing development.

What are the Oil And Gas Fishing market trends shaping the Industry?

• The current market trend reflects a significant focus on technological advancements in the oil and gas industry, specifically in fishing tools and equipment. This sector continues to evolve, driven by innovations that enhance efficiency, productivity, and safety. The market is experiencing significant advancements in technology, leading to increased efficiency, safety, and cost savings. One notable development is the introduction of intelligent drilling tools, which are equipped with sensors and real-time data transmission capabilities. These tools enable operators to monitor and control drilling operations remotely, reducing the need for manual intervention and improving accuracy. Another innovation is the use of robotic systems for downhole operations, which minimize the risk of accidents and equipment failure. Additionally, hydrographic surveys, fish handling, and fish farming technologies have been enhanced, ensuring seafood traceability, fish species identification, and improved fish safety.

• Furthermore, environmental monitoring, fishery management, weather forecasting, seabed mapping, and corrosion prevention technologies have become increasingly important for sustainable and responsible fishing practices. Overall, these advancements are transforming the oil and gas fishing industry, making it more efficient, sustainable, and cost-effective.

How does Oil And Gas Fishing market face challenges during its growth?

• The oil and gas industry faces significant growth challenges due to a scarcity of skilled workers capable of performing fishing services, which are essential for extracting resources from underwater environments. The oil and gas fishing industry plays a crucial role in maximizing the efficiency of drilling and production operations in the energy sector. However, the industry faces a significant challenge in the form of a labor shortage, particularly in the area of fishing services. This scarcity of skilled workers is due in part to the limited availability of specialized training and educational programs. The complex nature of fishing services necessitates a deep understanding of the subject matter, coupled with practical experience. Unfortunately, there are only a few educational institutions and training programs that provide comprehensive instruction in this field.

• Navigation systems, fishfinder technology, fishing vessel design, fishing gear maintenance, and oil spill prevention are just some of the essential aspects of fishing services in the oil and gas industry. The economic impact of the fishing industry is substantial, with high demand for seafood consumption and the need for sustainable fishing practices. Additionally, fishing vessel propulsion and safety are critical considerations for the industry. Addressing the labor shortage through increased investment in education and training programs is essential to ensure the long-term success and growth of the oil and gas fishing industry.

Exclusive Customer Landscape

The oil and gas fishing market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the oil and gas fishing market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, oil and gas fishing market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Archer Ltd. - The company specializes in oil and gas fishing services, utilizing top-tier equipment and inventive solutions.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Archer Ltd.
• Ardyne Technologies Ltd
• Baker Hughes Co.
• China Oilfield Services Ltd.
• Equity Petroleum Services Nigeria Ltd.
• Expro Group Holdings NV
• Falcon Downhole Services LLC
• NOV Inc.
• Odfjell Technology Ltd.
• Schlumberger Ltd.
• Tecon Oil Services Ltd.
• Tobitem DownHole Solutions Co. Ltd.
• Weatherford International Plc
• Wellbore Integrity Solutions
• Wenzel Downhole Tools

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Oil And Gas Fishing Market

• In January 2023, Schlumberger, a leading oilfield services company, announced the launch of its new fishing tool, the "Oceanscope iSpector," which uses advanced sonar technology to improve the efficiency and accuracy of fishing operations in deepwater environments (Schlumberger press release, 2023).
• In March 2024, Baker Hughes, a GE company, and Saudi Aramco, the Saudi Arabian national oil company, signed a strategic collaboration agreement to develop and implement digital solutions for enhancing oilfield operations, including fishing and well intervention services (Baker Hughes press release, 2024).
• In August 2024, National Oilwell Varco, a leading provider of equipment and components used in oil and gas drilling and production, completed the acquisition of FMC Technologies, a leading supplier of technology solutions for the oil and gas industry, significantly expanding its product offerings and market presence (National Oilwell Varco press release, 2024).

Research Analyst Overview

The market is a dynamic and evolving industry, encompassing various sectors that work in harmony to ensure the sustainable production and distribution of seafood. Hydrographic surveys and seabed mapping play a crucial role in identifying fish stocks and suitable fishing grounds, while fish handling practices ensure the preservation of catch quality. Seafood safety is paramount, with corrosion prevention and fish farming implementing rigorous standards to maintain product integrity. Weather forecasting and navigation systems enable fishermen to navigate the seas safely and efficiently, while fishery management and environmental monitoring ensure the long-term health of fish stocks. Fishing seasons and target species vary, requiring continuous adaptation and innovation in fishing vessel design, propulsion, and gear maintenance.

The Oil and Gas Fishing Market plays a crucial role in recovering lost or stuck equipment from drilling operations, ensuring minimal downtime and operational efficiency. While unrelated to traditional marine biology, the term "fishing" in this context refers to specialized techniques for retrieving tools. Understanding fish physiology is essential in offshore projects, as marine ecosystems can be impacted by oil and gas activities. The industry indirectly influences seafood packaging, seafood retail, and seafood restaurants by maintaining environmental safety and preventing contamination. I

Marine conservation and seafood traceability are integral to the industry, with sustainable fishing practices and bycatch reduction technologies reducing environmental impact. Economic impact studies and seafood market analysis provide valuable insights into consumer trends and industry growth. Fish storage, fish pumps, and catch processing technologies ensure efficient and effective production, while training and certification programs promote workboat safety and professionalism. Remote sensing and sonar systems offer valuable data for oceanographic research and emergency response, contributing to the ongoing evolution of the market.

Dive into Technavio's strong research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Oil And Gas Fishing Market insights. See full methodology.

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What are the Key Data Covered in this Oil And Gas Fishing Market Research and Growth Report?

• CAGR of the Oil And Gas Fishing industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2025 and 2029
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across North America, APAC, Europe, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the oil and gas fishing market growth of industry companies

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