Oilfield Services (OFS) Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The oilfield services market is expected to grow at a CAGR of over 3% during the forecast period of 2022– 2028. 

The oilfield services sector is considered an essential partner for oil exploration and production companies. They provide well maintenance, completion, production, supply and logistics support services both onshore and offshore. Typically, oilfield service companies manufacture, repair, and maintain equipment used for oil extraction and transportation. Factors such as increased oil demand, increased use of internal funds, and advances in technology are considered to be driving the growth of this market. In addition, the discovery of new oil fields, mergers and acquisitions, and recent licensing and product launches are expected to present significant opportunities in this market. However, strict government regulations on E&P activities, fluctuations in crude oil prices, and a lack of skilled labor are expected to hinder the growth of this market to some extent.

 

Company Profile

Baker Hughes Incorporated (US), Halliburton Company (US), Schlumberger Limited (US), Weatherford International, PLC (Switzerland), National Oilwell Varco, Inc. (US), China Oilfield Services Limited (COSL)(China), Superior Energy Services, Inc. (US), Technipfmc.PLC (U.K), Trican Well Service, Ltd. (US), Welltec International APS (Denmark), Nabors Industries, Ltd. (Bermuda), Nordic Well Services, LLC (UAE).

Market Segmentation

By Service Type

• Pressure Pumping
• Oil Country Tubular Goods (OCTG) Services
• Well Intervention and Coiled Tubing
• Drilling and Completion Fluid
• Well Completion
• Wireline Services
• Seismic Testing
• Other Services

By Location

• Onshore
• Offshore

Scope of the Report

The research study analyzes the global Oilfield Services (OFS) industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Oilfield Services (OFS) Market Report

1. What was the Oilfield Services (OFS) Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2022-2028).

2. What will be the CAGR of Oilfield Services (OFS) Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Oilfield Services (OFS) Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.