Oilfield Services Market Size Was Usd 267.82 Billion in 2019

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Oilfield Services Market

The global oilfield services market size was USD 267.82 billion in 2019 and is projected to reach USD 346.45 billion by 2027, exhibiting a CAGR of 6.6% during the forecast period.

Oilfield Services Market Strategic growth 2022 Global Industry Size, Trends, Share and Growth Forecast to 2029 report provides comprehensive information on current scenario which includes historical and projected Oilfield Services Market insights. Oilfield Services Market is expected to expand at the highest growth rate by 2029.

The report for Global Oilfield Services Market of Fortune Business Insights covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance.

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In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects:

We analysed industry trends in the context of COVID-19. We analysed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyse the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.

Years Considered to Estimate the Market Size:

History Year: 2016-2018

Base Year: 2019

Estimated Year: 2022

Forecast Year: 2022-2027

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Segmental Outlook:

Key segments, including types and applications, were detailed in this report. Consultants of verified market reports studied all segments and used historical data to provide market size. They also talked about the growth opportunities the segment could pose in the future. The study provides production and revenue data by type and application during the past period and forecast period(2022-2027).

Major Key players profiled in the report include:

Schlumberger (Texas, United States)
Halliburton (Texas, United States)
Baker Hughes (Texas, United States)
Weir Oil and Gas (Glasgow, United Kingdom)
Emerson (Missouri, United States)
National Oilwell Varco (Texas, United States)
Weatherford (Texas, United States)
AlMansoori Specialized Engineering (Abu Dhabi, UAE)
Saudi Aramco (Dhahran, Saudi Arabia)
Protiviti (California, United States)
Abu Dhabi Oilfield Services (Abu Dhabi, UAE)
YAS Oilfield Services (Texas, US)
Superior Oilfield Services LLC (Abu Dhabi, UAE)
National Arabian Petroleum Services Company (Dammam, Saudi Arabia)
Larsen and Toubro (Mumbai, India)
Oceaneering (Houston, Texas)
China Oilfield Services Ltd. (Beijing, China)
Petroleum Dynamics Oil and Gas (East Ahmadi, Kuwait)
Petroleum Services Co. Kuwait (Kuwait)
Vallourec (Boulogne-Billancourt, France)
BJ Services (Texas, U.S.)
STARK International (Doha -Qatar)
Ruker Inc. (Billerica, Massachusetts)
Xi’an Huayang OilandGas Equipment Co., Ltd. (Xi’an, Shaanxi)
ADES – Advanced Energy Systems (Egypt)
Biyaq Oilfield Services (Mawaleh, Muscat)
Petrodar Operating Company (PDOC) (Khartoum, Sudan)
Middle East Oilfield Services LLC (Muscat, Oman)
Key Industry Development:

June 2020: Norwegian oil and gas company Equinor awarded two contracts worth up to USD 187,1 million to oilfield services provider Technip. Under the contract, TechnipFMC will provide pipelaying and subsea installation for three projects on the Norwegian continental shelf (NCS).

Industry Globalization Drivers:

Growing Demand for Shale Gas to Propel Market

The increasing demand for shale gas has led to the advancement in technologies such as directional drilling and hydraulic fracturing technology to improve the production process in reservoirs. The high requirement for oilfield services during extraction can spur opportunities for the market. The ongoing plans and strategies to enhance the production of shale gas will simultaneously enrich the business of the market during the forecast period. For instance, China has announced that it will escalate its production up to 30 bcm/per year by 2020, and 80-100 bcm/per year by 2030 through advanced technologies and drilling techniques. China accounts for a high percent of shale gas production, which originally comes from the Sichuan Basin located in the Chongqing area. Moreover, the increasing exploration activities for untapped resources will enable healthy growth of the market in the forthcoming years.

The report shares key insights on:

Current market size
Market forecast
Market opportunities
Key drivers and restraints
Regulatory scenario
Industry trend
New product approvals/launch
Promotion and marketing initiatives
Pricing analysis
Competitive landscape
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Detailed TOC of Global Oilfield Services Market Report 2022

Report Overview
Research Scope
Market Segment by Type
Global Oilfield Services Market Size Growth Rate by Type
Market Segment by Application
Global Oilfield Services Market Share by Application
Study Objectives
Years Considered
Market Perspective
Global Oilfield Services Market Size (2022-2027)
Global Oilfield Services Market Revenue (2022-2027)
Global Oilfield Services Market Sales (2022-2027)
Global Oilfield Services Market Size across Key Geographies Worldwide:
Global Oilfield Services Market Sales by Regions (2022-2022)
Global Oilfield Services Market Revenue by Regions (2022-2022)
Global Oilfield Services Market Size Forecast by Region
Global Oilfield Services Market Sales Forecast by Region (2022-2027)
Global Oilfield Services Market Revenue Forecast by Region (2022-2027)
Global Top Oilfield Services Market Regions (Countries) Ranking by Market Size
Oilfield Services Market Industry Trends
Oilfield Services Market Trends
Oilfield Services Market Drivers
Oilfield Services Market Challenges
Oilfield Services Market Restraints
Competitive Landscape by Manufacturers
Global Oilfield Services Market Size by Type
Global Oilfield Services Market Size by Application
North America
Asia Pacific
Latin America
Middle East and Africa
Company Profiles
Value Chain and Sales Channels Analysis
Research Findings and Conclusion

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