Europe and Middle East Oilfield Services Market- Industry Trends and Forecast to 2030
The Europe and Middle East oilfield services market is expected to reach USD 131,230.78 million by 2030 from USD 84,150.07 million in 2022, growing at a CAGR of 5.8% during the forecast period of 2023 to 2030.
Market SegmentationEurope and Middle East Oilfield Services Market, By Type (Equipment Rental, Field Operations, Analytical Services, and Consulting Services), Service Type (Drilling Services, Completion and Workover Services, Production Services, Processing and Separation Services, Reservoir Services, Seismic Services, Subsea Services, and Other Services), Application (Onshore and Offshore), Country (Russia, Norway, U.K., Denmark, Italy, Turkey, Germany, Netherlands, France, Spain, Switzerland, Belgium, Finland, Sweden, Rest of Europe, Saudi Arabia, U.A.E., Kuwait, Qatar, Oman, Bahrain, Israel, and Rest of Middle East)
Some of the major factors contributing to the growth of the Europe and Middle East oilfield services market are
Driver• Rising penetration of emerging technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) in the oil and gas sector
Restraint• Volatility in the prices of crude oil
Opportunity• Rise in demand for well-intervention services and operational digital oilfield solutions
Market PlayersSome of the major market players operating in the Europe and Middle East oilfield services market are
• NAPESCO
• SLB
• Halliburton
• Baker Hughes Company
• ABB
• Weatherford
• Rockwell Automation
• Siemens Energy
• SAIPEM SpA
• Petrofac Limited
• Oil States International, Inc.
• Oceaneering International
• TRANSOCEAN LTD.
• NOV Inc.
• TAQA KSA
• Superior Energy Services
• Stark Oilfield Service Company
• MIDDLE EAST OILFIELD SERVICES LLC
• Abu Dhabi Oilfield Services Company
• ADNOC Group
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