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Oilfield Services Global Market Size, Share, By Type, By Service, By Application, Competition, Opportunities And Forecast 2023-2032 | Baker Hughes GE, Halliburton Company, Transocean Ltd., National Oilwell Varco, Saipem Spa
Oilfield Services Market
Oilfield Services Market Size, Growth Rate, And Forecast
The global oilfield services market size grew from $180.32 billion in 2022 to $192.1 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The oilfield services market size is expected to grow to $241.41 billion in 2027 at a CAGR of 5.9%.
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Oilfield Services Market Drivers
Increasing shale gas extraction is expected to propel the growth of the oilfield services market going forward. Shale gas refers to natural gas that has been trapped inside shale rocks. Oilfield services such as directional drilling and hydraulic fracturing have increased shale gas production from such important sources.
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Oilfield Services Market Segments
• By Service Type: Subsea Services, Seismic Services, Drilling Services, Workover and Completion Services, Production Equipment, Processing and Separation Services, Other Service Types
• By Type: Equipment Rental, Field Operation, Analytical and Consulting Services
• By Application: Onshore, Offshore
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Oilfield Services market.
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Oilfield Services Market Key Players
Major players in the Oilfield Services market are Schlumberger Limited, Baker Hughes GE, Halliburton Company, Weatherford International PLC., China Oilfield Services Limited (COSL), Basic Energy Services Inc., Superior Energy Services Inc., Transocean Ltd., National Oilwell Varco, Saipem Spa, Petrofac Limited, Trican Well Services Ltd., Oil States industries, The Emerson Electric Company, Welltec Oilfield Services Pvt Ltd., Weir Oil & Gas Inc., and TechnipFMC plc.
The Business Research Company's "Global Oilfield Services Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table of Content for The Oilfield Services Market Include:
1. Executive Summary
2. Oilfield Services Market Characteristics
3. Oilfield Services Market Trends And Strategies
4. Oilfield Services Market - Macro Economic Scenario
5. Oilfield Services Market Size And Growth
.....
26. Africa Oilfield Services Market
27. Oilfield Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Oilfield Services Market
29. Oilfield Services Market Future Outlook and Potential Analysis
30. Appendix
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