Global Oilfield Services Market 2022-2026
Technavio has been monitoring the oilfield services market and it is poised to grow by $31.18 bn during 2022-2026, accelerating at a CAGR of 4.36% during the forecast period. Our report on the oilfield services market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growth in global oil and natural gas demand, an increase in the number of deep-water and ultra-deep-water drilling projects, and a rise in unconventional oil and gas resources.
The oilfield services market analysis includes the application segment and geographic landscape.
Technavio's oilfield services market is segmented as below:
By Application
By Geographical Landscape
- North America
- Middle East and Africa
- APAC
- Europe
- South America
This study identifies the technological innovations to drive productivity in the oilfield services market as one of the prime reasons driving the oilfield services market growth during the next few years. Also, well operators opting for extended-reach drilling technologies and adopting IoT technology will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the oilfield services market covers the following areas:
- Oilfield services market sizing
- Oilfield services market forecast
- Oilfield services market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading oilfield services market vendors that include Archer Ltd., Baker Hughes Co., Calfrac Well Services Ltd., Caterpillar Inc., China Oilfield Services Ltd., Expro Group Holdings NV, Halliburton Co., Helmerich and Payne Inc., Key Energy Services Inc., Nabors Industries Ltd., NOV Inc., Oil States International Inc., Patterson UTI Energy Inc., SAIPEM SpA, Schlumberger Ltd., Superior Energy Services Inc., TechnipFMC plc, Transocean Ltd., Trican Well Service Ltd., Weatherford International Plc, and Welltec International ApS. Also, the oilfield services market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.