Global Oilfield Services Market to be driven at a CAGR of 3.5% in the Forecast Period of 2021-2026

30 NORTH GOULD STREET, SHERIDAN, WYOMING, UNITED STATES, October 11, 2022 /EINPresswire.com/ -- The new report by Expert Market Research titled, ‘Global Oilfield Services Market Size, Report and Forecast 2021-2026’, gives an in-depth analysis of the global oilfield services market, assessing the market based on its segments like service type, type, application, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Request a free sample copy in PDF or view the report summary@ https://www.expertmarketresearch.com/reports/oilfield-services-market/requestsample

The key highlights of the report include:

Market Overview (2021-2026)

Historical Market Size (2020): USD 258 Billion

Forecast CAGR (2021-2026): 6.5%

Forecast Market Size (2026): USD 377 Billion

The growth of global oilfield services is driven by the rising demand for energy. The demand for oil and natural gas due to rapid urbanisation and industrialisation is driving the growth for the oilfield market. Additionally, the continuous exploration of new wells to meet the global demand and increasing investment in the offshore drilling will propel the market in the forecast period. The increasing research and development (R&D) in the better techniques for oil extraction and processing is expected to provide growth opportunities. However, the transitioning trend towards renewable energy and depletion of reserves may constrain the growth for global oilfield market.

Industry Definition and Major Segments

Oilfield services are activities are that help oil well operators to explore and extract crude oil and natural gas from the reservoir. It includes activities such as exploration, drilling, stimulation, intervention, production, and completion throughout well exploration.

Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/oilfield-services-market

By service type, the market is divided into:

Subsea Services
Seismic Services
Drilling Services
Workover and Completion Services
Production Equipment
Processing and Separation Services
Others

Based on type, the industry can be segmented into:

Equipment Rental
Field Operation
Analytical and Consulting Services

The market is divided based on application into:

Onshore
Offshore

On the basis of regional markets, the industry is divided into:

1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others

Market Trends

Regionally, North America is largest shareholder in the global oilfield service market in terms of revenue due to growing oil exploration activities and presence of key industry players. Meanwhile, Middle East and Africa is expected to show a significant growth due to presence of world’s major oil reserves. Further, the offshore oil fields near the shores of Kuwait, UAE and Saudi Arabia will aid the growth. However, Asia pacific is expected to grow in the forecast period due to factors such as increasing oil production, increasing offshore activities in emerging economies such as China and India, and increasing oil rig varieties.

Key Market Players

The major players in the market are Schlumberger Limited, Weatherford International plc, Baker Hughes Company, Halliburton Energy Services, Inc., China Oilfield Services Limited, Basic Energy Services, Inc., and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

Read More Reports:

Top Lithium Ion Battery Companies: https://www.expertmarketresearch.com/articles/top-lithium-ion-battery-companies

Hypervolt Plus Cordless Vibration Massager Market: https://www.expertmarketresearch.com/reports/hypervolt-plus-cordless-vibration-massager-market

Infant Formula Market: https://www.expertmarketresearch.com/reports/infant-formula-market

Industrial Seals Market: https://www.expertmarketresearch.com/reports/industrial-seals-market

Food Grade Phosphoric Acid Market: https://www.expertmarketresearch.com/reports/food-grade-phosphoric-acid-market

Fitness Tracker Market: https://www.expertmarketresearch.com/reports/fitness-tracker-market

Virtual Data Room Market: https://www.expertmarketresearch.com/reports/virtual-data-room-market

Gardening Equipment Market: https://www.expertmarketresearch.com/reports/gardening-equipment-market

3D Food Printing Market: https://www.expertmarketresearch.com/reports/3d-food-printing-market

Ammunition Market: https://www.expertmarketresearch.com/reports/ammunition-market

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skillful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

Frara Prih
Expert Market Research
+1 415-325-5166
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.