Global Oilfield Services (OFS) Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Global Oilfield Services (OFS) Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

The oilfield services or (OFS) industry encompasses all products and services associated with the oil and gas exploration and production process, i.e. the energy industry's upstream sector.

Oil field service companies typically provide products such as seismic testing, trucking services, crew transportation and safety services, and directional solutions for horizontal drillers in addition to well construction, production, and completion services and related equipment.

However, the OFS umbrella includes a diverse range of products and services, including many technology-based services critical to successful field operations. Locating energy sources, managing energy data, drilling and formation evaluation, geological sciences, and other services fall into this category.

Drivers

Rising Oil and Gas Activities Globally

Energy prices around the world are on the rise due to the supply-demand imbalance triggered by the covid-19 pandemic. Prices have risen as more vaccinated populations have been released from coronavirus lockdowns, assisting in the recovery of economic activity.

At the same time, global commodity prices, including those used as fuel for power generation such as coal and gas, have risen from Asia to Europe. Because of coal shortages, some Indian states are experiencing power outages. Meanwhile, the Chinese government has ordered miners to increase coal production as power prices rise.

This makes the oil an appealing commodity for generating power and maintaining economic activity, and higher demand is pushing crude markets higher.

According to BP statistical review of world energy, global Oil consumption increased by 5.3 million barrels per day (b/d) in 2021 and global oil output increased by 1.4 million barrels per day, with OPEC+ accounting for more than three-quarters of the increase. The countries such as Libya (840,000 b/d), Iran (540,000 b/d), and Canada (300,000 b/d) saw the greatest increases.

Global natural gas demand increased by 5.3% in 2021, returning to pre-pandemic levels and crossing the 4 tcm threshold for the first time. Implying the rising demand for natural gas. As many countries are considering to replace coal with natural gas to fulfill their emission reduction targets, the demand for natural gas is expected to increase in the future.

The rising shale gas extraction and enhanced oil recovery due to the rising demand for oil and gas globally are some of the other major factors driving the oilfield services market.

The new report from Blackridge Research on Global Oilfield Services (OFS) Market comprehensively analyses the Oilfield Services (OFS) Market and provides deep insight into the current and future state of the industry. The study examines the drivers, restraints, and regional trends influencing Global Oilfield Services (OFS) Market demand and growth. The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the Oilfield Services (OFS) Market, important commercial developments, trends, regions, and segments poised for the fastest growth, competitive landscape, and market share of key players. Further, the report will also provide Oilfield Services (OFS) Market size, demand forecast, and growth rates.

What we cover in the report?

Oilfield Services (OFS) Market Drivers & Restraints

The study covers all the major underlying forces that help the market develop and grow and the factors that constrain the growth.

The report includes a meticulous analysis of each factor, explaining the relevant, qualitative information with supporting data.

Each factor's respective impact in the near, medium, and long term will be covered using Harvey balls for visual communication of qualitative information and functions as a guide for you to analyze the degree of impact.

Oilfield Services (OFS) Market Analysis

This report discusses the overview of the market, latest updates, important commercial developments and structural trends, and government policies and regulations.

This section provides an assessment of COVID-19 impact on Oilfield Services (OFS) Market demand.

Oilfield Services (OFS) Market Size and Demand Forecast

The report provides Global Oilfield Services (OFS) Market size and demand forecast until 2028, including year-on-year (YoY) growth rates and CAGR.

Oilfield Services (OFS) Market Industry Analysis

The report examines the critical elements of the Oilfield Services (OFS) industry supply chain, its structure, and the participants using Porter's five forces framework, the report covers the assessment of the Oilfield Services (OFS) industry's state of competition and profitability.

Oilfield Services (OFS) Market Segmentation & Forecast

The report dissects the Global Oilfield Services (OFS) Market into various segments. A detailed summary of the current scenario, recent developments, and market outlook will be provided for each segment.

Further, market size and demand forecasts will be presented along with various drivers and barriers for individual market segments.

Effective market segmentation enables you to identify emerging trends and opportunities for long-term growth.

for "bespoke" market segmentation to better align the research report with your requirements.

Regional Market Analysis

The report covers detailed profiles of major countries across the world. Each country's analysis covers the current market scenario, market drivers, government policies & regulations, and market outlook.

In addition, market size, demand forecast, and growth rates will be provided for all regions.

Following are the notable countries covered under each region.

North America

- United States, Canada, Mexico, and Rest of North America

Europe

- Germany, France, United Kingdom (UK), Russia, and Rest of Europe

Asia-Pacific

- China, India, Japan, South Korea, Australia, Rest of APAC

Rest of the world

- Saudi Arabia, Brazil, Nigeria, South Africa, and other countries

Key Company Profiles

This report presents detailed profiles of Key companies in the Oilfield Services (OFS) industry. In general, each company profile includes - overview of the company, relevant products and services, a financial overview, and recent developments.

Competitive Landscape

The report provides a comprehensive list of notable companies in the market, including mergers and acquisitions (M&As), joint ventures (JVs), partnerships, collaborations, and other business agreements.

The study also discusses the strategies adopted by leading players in the industry.

Executive Summary

Executive Summary will be jam-packed with charts, infographics, and forecasts. This chapter summarizes the findings of the report crisply and clearly.

The report begins with an Executive Summary chapter and ends with Conclusions and Recommendations.
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