Oilfield Service Market 2019-2025
New Study Reports “Oilfield Service Market 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2025”.
Growing Energy Demand Worldwide to Drive Global Oilfield Services Market
Oilfield services have applications in all E&P companies which aid in the enhancement of recovery of fossil fuels. One of the primary factors fostering market growth includes the aging production of wells. Drilling companies must operate in several environments which are leading to the requirement of different types of technology and equipment. Many drilling companies are noted to opt for such services from industry leaders, which lead to higher productivity in the oilfield, hence, complementing market growth.
The oilfield services market has lucrative growth opportunities; however, the expensive investment is one of the factors restricting the growth of the global oilfield services market. However, preliminary costs which are involved in the research, equipment, manpower, and the ability to operate in harsh and remote locations are anticipated to cause friction in growth of the market. Alternatively, the global oilfield services market is anticipated to upscale at a fast pace owing to the growing demand for energy all over the globe, especially in the form of oil and natural gas. Over the years of oil production, the reserves are noted to deplete, and research organizations are consistently working on the development of new resources. However, presently, oil exploration companies are facing a dire need to enhance the recovery of oil from wells with the help of advanced oilfield services.
The report has profiled some of the noteworthy players prevalent in the global oilfield services market including Baker Hughes Incorporated, Halliburton Company, Schlumberger Limited, Weatherford Internation, Superior Energy, National OilWell Varco, Archer Limited, and GE Oil & Gas.
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The global oilfield services market is analyzed for different segments to arrive at an insightful analysis. Such segmentation has been done on the basis of type, application, and region. Based on type, the global oilfield services market is segmented into well completion equipment, oil country tubular goods, coiled tubing service, and well intervention. By application, the oilfield services market is segmented into offshore and onshore.
Detailed Regional Analysis
The global oilfield services market is studied for the regional segments of the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas is segmented into North America and South America. The shale revolution in the US transformed the landscape of the region’s oil market extensively, and is likely to continue doing so. Presently, many countries from the Middle East are looking forward to start applying such technology in their regions to augment oil production. This is one of the largest drivers for the global oilfield services market. Research and development in North America’s oil market have continued at an impressive rate, supplementing market growth.
Substantial shale resources have been located in Africa, especially in countries including Tunisia, Algeria, Morocco, as well as South Africa. This discovery is estimated to create numerous opportunities for the global oilfield services market through the forecast period. As per the Energy Information Administration (EIA), Algeria and Tanzania have major growth prospects for market players in the global oilfield services market.
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Major Key Points from Table of Content:
1 Industry Overview of Oilfield Service
2 Global Oilfield Service Competition Analysis by Players
3 Company (Top Players) Profiles
3.1 Baker Hughes Incorporated
3.1.1 Company Profile
3.1.2 Main Business/Business Overview
3.1.3 Products, Services and Solutions
3.1.4 Oilfield Service Revenue (Value) (2012-2017)
3.1.5 Recent Developments
3.2 Halliburton Company
3.2.1 Company Profile
3.2.2 Main Business/Business Overview
3.2.3 Products, Services and Solutions
3.2.4 Oilfield Service Revenue (Value) (2012-2017)
3.2.5 Recent Developments
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