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Oilfield Services Market Growth By Application and Geography - Forecast and Analysis - 2022-2026

  • Published: Sep 2022
  • Pages: 136
  • SKU: IRTNTR74370
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According to the research report, the oilfield services market will witness a growth of 2.92% at a CAGR of 4.36 which is expected to increase by USD 31.18 billion.

This oilfield services market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers oilfield services market segmentations by application (onshore and offshore) and geography (North America, Middle East and Africa, APAC, Europe, and South America). The oilfield services market report also offers information on several market vendors, including Archer Ltd., Baker Hughes Co., Calfrac Well Services Ltd., Caterpillar Inc., China Oilfield Services Ltd., Expro Group Holdings NV, Halliburton Co., Helmerich and Payne Inc., Key Energy Services Inc., Nabors Industries Ltd., NOV Inc., Oil States International Inc., Patterson UTI Energy Inc., SAIPEM SpA, Schlumberger Ltd., Superior Energy Services Inc., TechnipFMC plc, Transocean Ltd., Trican Well Service Ltd., Weatherford International Plc, and Welltec International ApS among others.

What will the Oilfield Services Market Size be During the Forecast Period?

Oilfield Services Market Size

Download Report Sample to Unlock the Oilfield Services Market Size for the Forecast Period and Other Important Statistics

 

Oilfield Services Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year, and 2022 as the estimated year, and produced drivers, trends, and challenges for the oilfield services market. In the COVID-19 pandemic, the demand for the oilfield services market has impacted a lot accelerating but a holistic analysis of drivers will help in exact demands and refining marketing strategies to gain a competitive advantage.

Key Oilfield Services Market Driver

One of the major factors driving the oilfield services market growth is the growth in global oil and natural gas demand.  As developing countries are urbanizing rapidly, the demand for energy is also increasing significantly. Thus, the consumption of liquid fuels and natural gas has increased.  According to the World Bank Group, the percentage of the urban population in China increased from 49.23% in 2010 to 64.7% in 2021. According to the US EIA, global liquid fuel consumption increased to 98.3 mbpd in March 2022, an increase of 2.4 mbpd from March 2021. Thus, to cater to the growing energy demand, major oil and gas companies are increasing their E&P activities. Moreover, with the increasing consumption of fuel in developing economies such as India and China, the demand for natural gas is also likely to rise during the forecast period. With the growing demand for energy, oil and gas, E&P companies will increase their seismic activities to identify new prospects at both onshore and offshore locations. Therefore, the growing demand for oil and natural gas is expected to drive the growth of the global oilfield services market during the forecast period.

Key Oilfield Services Market Trend

One of the major trends driving the oilfield services market growth is the technological innovations to drive productivity in the oilfield services market. Oilfield service providers are increasingly looking for new technological innovations and technical breakthroughs to drive productivity and profitability, as the oilfield services industry is facing pricing pressures from oilfield operators and E&P companies. They are driving productivity by automating oilfield processes and equipment, investing in high-performance tools and systems, and using the data-driven approach to optimize activities such as exploration, drilling, and production. Other than automated drilling, companies are also investing in high-speed, precision drilling capabilities such as laser drilling and innovative drilling tools. Laser drilling offers various advantages such as increased rate of penetration, high accuracy, precision drilling, single diameter borehole, and reduction in drilling time when drilling through hard formations. Laser drilling uses about 15 times less power than conventional drilling rigs, hence ensuring huge savings on energy costs. To further develop such technologies, many major oilfield service companies are also investing in in-house R&D centers. The use of advanced technology in oilfield services is expected to become a critical factor for the growth of service providers in the market during the forecast period.

Key Oilfield Services Market Challenge

The major challenge impeding the oilfield services market growth is the fluctuations in crude oil prices. Fluctuations in crude oil prices impact the profitability and performance of upstream oil and gas companies. The average crude oil price in 2019 was $64.4 per barrel, which declined to $41.96 per barrel in 2020, and in 2021, the price reached $70.68 per barrel. The falling crude oil and natural gas prices have had a negative impact on the oil and gas upstream sector. Many oil and gas E&P projects were canceled or postponed across the world due to the outbreak of COVID-19 in 2020. Fluctuations in crude oil prices also affect investment decisions in new and existing projects, leading to project abandonment, delays, and a cut down in investment outlays. The global oilfield services market is a critical part of the upstream industry and is also directly affected by such decisions. Fluctuations in crude oil prices can directly affect contract prices for oilfield service providers, resulting in low profitability or unsustainable operations. This has been a major challenge for the oilfield services industry, as the fluctuations in prices can have a huge impact on the demand for oilfield services.

This oilfield services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global oilfield services market as a part of the global oilfield equipment and services. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the oilfield services market during the forecast period.

Who are the Major Oilfield Services Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Archer Ltd.
  • Baker Hughes Co.
  • Calfrac Well Services Ltd.
  • Caterpillar Inc.
  • China Oilfield Services Ltd.
  • Expro Group Holdings NV
  • Halliburton Co.
  • Helmerich and Payne Inc.
  • Key Energy Services Inc.
  • Nabors Industries Ltd.
  • NOV Inc.
  • Oil States International Inc.
  • Patterson UTI Energy Inc.
  • SAIPEM SpA
  • Schlumberger Ltd.
  • Superior Energy Services Inc.
  • TechnipFMC plc
  • Transocean Ltd.
  • Trican Well Service Ltd.
  • Weatherford International Plc
  • Welltec International ApS

 

This statistical study of the oilfield services market encompasses successful business strategies deployed by the key vendors. The oilfield services market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The oilfield services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Oilfield Services Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain, and parent market of the oilfield services market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Oilfield Services Market?

Oilfield Services Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

46% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for the oilfield services market in North America. Market growth in this region will be faster than the growth of the market in other regions.

Recovery in crude oil prices and the significant growth in shale oil production will facilitate the oilfield services market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

During the COVID-19 pandemic in 2020, the reduction in oil and gas prices intensified the pressure on the oil and gas industry to boost productivity and minimize production costs. The US Energy Information Administration (EIA) forecasted in 2020 that the crude oil production would fall to 11.7 million barrels per day (b/d) that year and further to 10.9 b/d in 2021, compared to a 2019 average of 12.2 b/d. The US active rig count fell from 796 at the beginning of 2020 to an all-time low of 251 at the end of July 2020. These trends, thus, have negatively impacted the oilfield services market in the region. 

What are the Revenue-generating Application Segments in the Oilfield Services Market?

Oilfield Services Market Share

To gain further insights on the market contribution of various segments Request PDF Sample

The oilfield services market share growth in the onshore segment will be significant during the forecast period. The growth of the onshore segment is attributed to the increasing upstream activities, including new drilling and implementation of enhanced oil recovery technologies, propelled by the global rise in energy demand. Oil and gas E&P companies in North America and the Middle East are focused on developing new greenfield projects as older fields reach the end of their project lifespan which will facilitate growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the oilfield services market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Oilfield Services Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.36%

Market growth 2022-2026

$ 31.18 billion

Market structure

Fragmented

YoY growth (%)

2.92

Regional analysis

North America, Middle East and Africa, APAC, Europe, and South America

Performing market contribution

North America at 46%

Key consumer countries

US, Canada, Saudi Arabia, China, and Russia

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

Archer Ltd., Baker Hughes Co., Calfrac Well Services Ltd., Caterpillar Inc., China Oilfield Services Ltd., Expro Group Holdings NV, Halliburton Co., Helmerich and Payne Inc., Key Energy Services Inc., Nabors Industries Ltd., NOV Inc., Oil States International Inc., Patterson UTI Energy Inc., SAIPEM SpA, Schlumberger Ltd., Superior Energy Services Inc., TechnipFMC plc, Transocean Ltd., Trican Well Service Ltd., Weatherford International Plc, and Welltec International ApS

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Oilfield Services Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive oilfield services market growth during the next five years
  • Precise estimation of the oilfield services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the oilfield services industry across North America, Middle East and Africa, APAC, Europe, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of oilfield services market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Onshore - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Onshore - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 29: Data Table on Onshore - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 30: Chart on Onshore - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Onshore - Year-over-year growth 2021-2026 (%)
    • 5.4 Offshore - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Offshore - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 33: Data Table on Offshore - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 34: Chart on Offshore - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Offshore - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 36: Market opportunity by Application ($ billion)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 47: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 48: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 Europe - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Saudi Arabia - Market size and forecast 2021-2026
      • Exhibit 66: Chart on Saudi Arabia - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 67: Data Table on Saudi Arabia - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 68: Chart on Saudi Arabia - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on Saudi Arabia - Year-over-year growth 2021-2026 (%)
    • 7.10 China - Market size and forecast 2021-2026
      • Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.11 Canada - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.12 Russia - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Russia - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 79: Data Table on Russia - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 80: Chart on Russia - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Russia - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Baker Hughes Co.
              • Exhibit 89: Baker Hughes Co. - Overview
              • Exhibit 90: Baker Hughes Co. - Business segments
              • Exhibit 91: Baker Hughes Co. - Key news
              • Exhibit 92: Baker Hughes Co. - Key offerings
              • Exhibit 93: Baker Hughes Co. - Segment focus
            • 10.4 China Oilfield Services Ltd.
              • Exhibit 94: China Oilfield Services Ltd. - Overview
              • Exhibit 95: China Oilfield Services Ltd. - Business segments
              • Exhibit 96: China Oilfield Services Ltd. - Key offerings
              • Exhibit 97: China Oilfield Services Ltd. - Segment focus
            • 10.5 Halliburton Co.
              • Exhibit 98: Halliburton Co. - Overview
              • Exhibit 99: Halliburton Co. - Business segments
              • Exhibit 100: Halliburton Co. - Key news
              • Exhibit 101: Halliburton Co. - Key offerings
              • Exhibit 102: Halliburton Co. - Segment focus
            • 10.6 Helmerich and Payne Inc.
              • Exhibit 103: Helmerich and Payne Inc. - Overview
              • Exhibit 104: Helmerich and Payne Inc. - Business segments
              • Exhibit 105: Helmerich and Payne Inc. - Key offerings
              • Exhibit 106: Helmerich and Payne Inc. - Segment focus
            • 10.7 NOV Inc.
              • Exhibit 107: NOV Inc. - Overview
              • Exhibit 108: NOV Inc. - Business segments
              • Exhibit 109: NOV Inc. - Key news
              • Exhibit 110: NOV Inc. - Key offerings
              • Exhibit 111: NOV Inc. - Segment focus
            • 10.8 Oil States International Inc.
              • Exhibit 112: Oil States International Inc. - Overview
              • Exhibit 113: Oil States International Inc. - Business segments
              • Exhibit 114: Oil States International Inc. - Key offerings
              • Exhibit 115: Oil States International Inc. - Segment focus
            • 10.9 Schlumberger Ltd.
              • Exhibit 116: Schlumberger Ltd. - Overview
              • Exhibit 117: Schlumberger Ltd. - Business segments
              • Exhibit 118: Schlumberger Ltd. - Key offerings
              • Exhibit 119: Schlumberger Ltd. - Segment focus
            • 10.10 Superior Energy Services Inc.
              • Exhibit 120: Superior Energy Services Inc. - Overview
              • Exhibit 121: Superior Energy Services Inc. - Business segments
              • Exhibit 122: Superior Energy Services Inc. - Key offerings
              • Exhibit 123: Superior Energy Services Inc. - Segment focus
            • 10.11 TechnipFMC plc
              • Exhibit 124: TechnipFMC plc - Overview
              • Exhibit 125: TechnipFMC plc - Business segments
              • Exhibit 126: TechnipFMC plc - Key offerings
              • Exhibit 127: TechnipFMC plc - Segment focus
            • 10.12 Weatherford International Plc
              • Exhibit 128: Weatherford International Plc - Overview
              • Exhibit 129: Weatherford International Plc - Business segments
              • Exhibit 130: Weatherford International Plc - Key news
              • Exhibit 131: Weatherford International Plc - Key offerings
              • Exhibit 132: Weatherford International Plc - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 133: Inclusions checklist
                • Exhibit 134: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 135: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 136: Research methodology
                • Exhibit 137: Validation techniques employed for market sizing
                • Exhibit 138: Information sources
              • 11.5 List of abbreviations
                • Exhibit 139: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
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              Oilfield Services market growth will increase by $31.18 billion during 2022-2026.
              The oilfield services market is expected to grow at a CAGR of 4.36% during 2022-2026.
              Technavio has segmented the oilfield services market by geographic (North America, Middle East and Africa, APAC, Europe, and South America).
              Archer Ltd., Baker Hughes Co., Calfrac Well Services Ltd., Caterpillar Inc., China Oilfield Services Ltd., Expro Group Holdings NV, Halliburton Co., Helmerich and Payne Inc., Key Energy Services Inc., Nabors Industries Ltd., NOV Inc., Oil States International Inc., Patterson UTI Energy Inc., SAIPEM SpA, Schlumberger Ltd., Superior Energy Services Inc., TechnipFMC plc, Transocean Ltd., Trican Well Service Ltd., Weatherford International Plc, Welltec International ApS are a few of the key vendors in the oilfield services market.
              North America will register the highest growth rate of 46.3% among the other regions. Therefore, the oilfield services market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • Canada
              • Saudi Arabia
              • China
              • Russia
              The key factors driving the oilfield services market growth are:
              • Growth in global oil and natural gas demand
              • Technological innovations to drive productivity in oilfield services market
              The oilfield services market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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