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PUBLISHER: Grand View Research | PRODUCT CODE: 1575098
PUBLISHER: Grand View Research | PRODUCT CODE: 1575098
Oilfield Services Market Size, Share & Trends Analysis Report By Application (Onshore), By Service (Workover & Completion Services), By Type (Equipment Rental, Field Operation), By Region, And Segment Forecasts, 2024 - 2030
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Oilfield Services Market Growth & Trends:
The global oilfield services market size is expected to be valued at USD 166.4 billion by 2030 , growing at a CAGR of 3.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. These services are being increasingly implemented owing to the rising demand for energy and the development of new oilfields. The purpose of oilfield services is to help operators control the subsurface pressures, minimize formation damage, control borehole erosion, and optimize drilling parameters including the penetration rate and hole cleaning. The burgeoning offshore industry, particularly in the Persian Gulf, is anticipated to drive the oilfield services market over the forecast period. However, the adverse environmental effects of E&P activities coupled with strict government regulations are likely to hinder the market growth.
The processing & separation segment accounted for a market share of 11.84% in 2023 and is anticipated to ascend at a CAGR of 0.79% over the forecast period. This service aids the treatment of oil by means of distillate treaters, desalting & dehydration electrostatic treaters, and multiphase separation systems. It helps purify the natural gas obtained from reservoirs, eliminating its inherent impurities. The techniques employed in gas processing & treatment include glycol dehydration, monoethylene glycol reclamation & regeneration, phase separation, and acid gas treatment & removal. The various advantages of processing & separation are anticipated to boost the demand for oilfield services over the next few years.
The growing number of deep-water exploration and production activities in the Gulf region is projected to fuel the demand for drilling fluids over the forecast period. In 2015, major companies such as Chevron, Petronas, Shell, Total, and YPF had announced plans to invest in E&P activities. However, macroeconomic factors such as inflation, falling oil prices, and the economic downturn had a negative impact on oil production in various parts of Argentina, Brazil, and Venezuela.
Oilfield Services Market Report Highlights:
- The global oilfield services market size was valued at USD 133.1 billion in 2023 and is projected to grow at a CAGR of 3.4% from 2024 to 2030.
- The onshore segment dominated the market and accounted for the largest revenue share of 65.9% in 2023.
- The workover & completion services segment accounted for the largest revenue share of 20.34% in 2023.
- The seismic services segment is expected to grow at the fastest CAGR of 6.7% over the forecast period.
- The oilfield services market in Asia Pacific is expected to grow at the fastest CAGR of 3.9% over the forecast period. Growing concerns about the wellbore stability, well blowout, and extreme temperature operating conditions are expected to boost the demand for oilfield services in offshore and onshore regions in the coming years.
Product Code: GVR-1-68038-692-9
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Oilfield Services Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Market Size and Growth Prospects (USD Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.4. Oilfield Services Market Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
- 3.4.1. Porter's Analysis
Chapter 4. Oilfield Services Market: Application Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Oilfield Services: Application Analysis, 2023 & 2030 (USD Million)
- 4.3. Onshore
- 4.3.1. Onshore Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Offshore
- 4.4.1. Offshore Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Oilfield Services Market: Service Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Oilfield Services Market: Service Analysis, 2023 & 2030 (USD Million)
- 5.3. Workover & Completion Services
- 5.3.1. Workover & Completion Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Production
- 5.4.1. Production Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. Drilling Services
- 5.5.1. Drilling Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.6. Subsea Services
- 5.6.1. Subsea Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.7. Seismic Services
- 5.7.1. Seismic Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.8. Processing and Separation Services
- 5.8.1. Processing and Separation Services Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.9. Others
- 5.9.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Oilfield Services Market: Type Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Oilfield Services: Type Analysis, 2023 & 2030 (USD Million)
- 6.3. Equipment Rental
- 6.3.1. Equipment Rental Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Field Operation
- 6.4.1. Field Operation Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Analytical & Consulting Services
- 6.5.1. Analytical & Consulting Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Oilfield Services Market: Regional Estimates & Trend Analysis
- 7.1. Oilfield Services Market Share, By Region, 2023 & 2030, USD Million
- 7.2. North America
- 7.2.1. North America Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.2. U.S.
- 7.2.2.1. U.S. Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.3. Canada
- 7.2.3.1. Canada Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.4. Mexico
- 7.2.4.1. Mexico Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3. Europe
- 7.3.1. Europe Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.2. UK
- 7.3.2.1. UK Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.3. Germany
- 7.3.3.1. Germany Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.4. France
- 7.3.4.1. France Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.5. Spain
- 7.3.5.1. Spain Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.6. Russia
- 7.3.6.1. Russia Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.7. Netherlands
- 7.3.7.1. Netherlands Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.8. Norway
- 7.3.8.1. Norway Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.2. China
- 7.4.2.1. China Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.3. India
- 7.4.3.1. India Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.4. Japan
- 7.4.4.1. Japan Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.5. Australia
- 7.4.5.1. Australia Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.6. South Korea
- 7.4.6.1. South Korea Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.7. Indonesia
- 7.4.7.1. Indonesia Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.8. Malaysia
- 7.4.8.1. Malaysia Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.9. Thailand
- 7.4.9.1. Thailand Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5. Latin America
- 7.5.1. Latin America Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.2. Brazil
- 7.5.2.1. Brazil Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.3. Argentina
- 7.5.3.1. Argentina Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.4. Venezuela
- 7.5.4.1. Venezuela Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6. Middle East and Africa
- 7.6.1. Middle East and Africa Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.2. South Africa
- 7.6.2.1. South Africa Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.3. Saudi Arabia
- 7.6.3.1. Saudi Arabia Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.4. UAE
- 7.6.4.1. UAE Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.5. Kuwait
- 7.6.5.1. Kuwait Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.6. Qatar
- 7.6.6.1. Qatar Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.7. Oman
- 7.6.7.1. Oman Oilfield Services Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis by Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Heat Map Analysis
- 8.4. Company Profiles
- 8.4.1. Baker Hughes Company
- 8.4.1.1. Participant's Overview
- 8.4.1.2. Financial Performance
- 8.4.1.3. Product Benchmarking
- 8.4.1.4. Recent Developments/ Strategic Initiatives
- 8.4.2. HALLIBURTON
- 8.4.2.1. Participant's Overview
- 8.4.2.2. Financial Performance
- 8.4.2.3. Product Benchmarking
- 8.4.2.4. Recent Developments/ Strategic Initiatives
- 8.4.3. SLB
- 8.4.3.1. Participant's Overview
- 8.4.3.2. Financial Performance
- 8.4.3.3. Product Benchmarking
- 8.4.3.4. Recent Developments/ Strategic Initiatives
- 8.4.4. Weatherford
- 8.4.4.1. Participant's Overview
- 8.4.4.2. Financial Performance
- 8.4.4.3. Product Benchmarking
- 8.4.4.4. Recent Developments/ Strategic Initiatives
- 8.4.5. Superior Energy Services
- 8.4.5.1. Participant's Overview
- 8.4.5.2. Financial Performance
- 8.4.5.3. Product Benchmarking
- 8.4.5.4. Recent Developments/ Strategic Initiatives
- 8.4.6. NOV.
- 8.4.6.1. Participant's Overview
- 8.4.6.2. Financial Performance
- 8.4.6.3. Product Benchmarking
- 8.4.7. China Oilfield Services Limited
- 8.4.7.1. Participant's Overview
- 8.4.7.2. Financial Performance
- 8.4.7.3. Product Benchmarking
- 8.4.7.4. Recent Developments/ Strategic Initiatives
- 8.4.8. ARCHER OILFIELD ENGINEERS
- 8.4.8.1. Participant's Overview
- 8.4.8.2. Financial Performance
- 8.4.8.3. Product Benchmarking
- 8.4.8.4. Recent Developments/ Strategic Initiatives
- 8.4.9. Expro Group
- 8.4.9.1. Participant's Overview
- 8.4.9.2. Financial Performance
- 8.4.9.3. Product Benchmarking
- 8.4.9.4. Recent Developments/ Strategic Initiatives
- 8.4.10. TechnipFMC plc
- 8.4.10.1. Participant's Overview
- 8.4.10.2. Financial Performance
- 8.4.10.3. Product Benchmarking
- 8.4.10.4. Recent Developments/ Strategic Initiatives
- 8.4.1. Baker Hughes Company
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