Oilfield Services Market worth $171.7
billion by 2025
Global Oilfield Services Market 2019-2025
Meticulous Research®- leading global market research company published a
research report titled “Oilfield Services Market by Type (Pressure Pumping, Oil
Country Tubular Goods, Well Intervention & Coiled Tubing, Drilling & Completion
Fluid, Well Completion, Seismic Testing), Location (Onshore and Offshore), and
Geography–Global Forecast to 2025”.
According to this latest publication from Meticulous Research®, the global oilfield
services market is projected to reach $171.7 billion in 2025 from $138.9 billion in
2019, growing at a CAGR of 3.6%.
The growth of this market will be driven by factors such as increasing demand for
oil, increasing use of internal sources of funding, and technological advancements.
Moreover, factors such as discovery of new oilfields, mergers and acquisitions, and
recent licenses and product launches are further expected to propel the growth of
this market. However, strict government regulations on E&P activities, fluctuations
in crude oil prices, and shortage of skilled labor are expected to hinder the growth of
this market.
The global oilfield services market study presents historical market data in terms of
values (2017 and 2018), estimated current data (2019), and forecasts for 2025- by
service type (pressure pumping, oil country tubular goods, well intervention & coiled
tubing, drilling & completion fluid, well completion, wireline services, seismic
testing, and other services), and location (onshore and offshore). The study also
evaluates industry competitors and analyzes the market at regional and country
level.
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https://meticulousresearch.com/request-sample-report/cp_id=4963
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Global Oilfield Services Market 2019-2025
On the basis of service type, the global oilfield services market is segmented into
pressure pumping, oil country tubular goods, well intervention & coiled tubing,
drilling & completion fluid, well completion, wireline services, seismic testing, and
other services. The pressure pumping segment accounted for the largest share of the
global oilfield services market, owing to new oil well discoveries, continuous
devotion to technology development, and mandatory requirements of safe and
efficient operations at oil wells. However, well completion services are expected to
grow at the fastest growth rate owing to increasing demand for high oil production
from the production site and shale gas inflation.
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On the basis of location, oilfield services market is segmented into onshore and
offshore. Onshore segment accounted for the largest share of the global oilfield
services market in 2018.
This research report analyzes major geographies and provides comprehensive
analysis of North America, Europe, Asia Pacific, Middle East & Africa, and Latin
America. North America accounted for the largest share of the global oilfield services
market in 2018. Factors such as increasing spending and overall rig and well counts,
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Global Oilfield Services Market 2019-2025
improving offshore market, and mergers and acquisitions are expected to drive the
growth of the oilfield services market in this region. However, APAC region is
expected to grow with highest growth rate during the forecast period. Factors such
as steady oil production, increasing number of oil rig counts, and growing offshore
activities in China are expected to drive the growth of oilfield services market in this
region.
Key study @ https://meticulousresearch.com/request-sample-report/cp_id=4963
The key players operating in the global oilfield services market are Schlumberger
Limited, Baker Hughes GE, Halliburton Company, Weatherford International, Plc,
China Oilfield Services Limited (COSL), Basic Energy Services, Superior Energy
Services, Inc., FMC Technologies, Inc., Welltec, Weir Oil & Gas, National Oilwell
Varco, Oil States International, Inc., and Archer Limited among others.
About Meticulous Research®
Meticulous Research® is founded in 2010 and incorporated as Meticulous Market
Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act,
1956. Since its incorporation, the company has become the leading provider of
premium market intelligence in North America, Europe, Asia-Pacific, Latin America,
and Middle East & Africa. With the meticulous primary and secondary research
techniques, we have built strong capabilities in data collection, interpretation, and
analysis of data including qualitative and quantitative research with the finest team of
analysts.
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+91 744-7780008
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Global Oilfield Services Market 2019-2025
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