Global Oilfield Services Market to Reach $177.6 Billion by 2030
The global market for Oilfield Services estimated at US$117.5 Billion in the year 2023, is expected to reach US$177.6 Billion by 2030, growing at a CAGR of 6.1% over the analysis period 2023-2030. Equipment Rental Services, one of the segments analyzed in the report, is expected to record a 6.8% CAGR and reach US$99.5 Billion by the end of the analysis period. Growth in the Field Operation Services segment is estimated at 5.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $30.8 Billion, While China is Forecast to Grow at 9.2% CAGR
The Oilfield Services market in the U.S. is estimated at US$30.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$41.3 Billion by the year 2030 trailing a CAGR of 9.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4.9% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$25 Billion by the year 2030.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook