Global Oilfield Equipment and Services (OFS) Market Growth (Status and Outlook) 2025-2031

The global Oilfield Equipment and Services (OFS) market size is predicted to grow from US$ 214670 million in 2025 to US$ 248810 million in 2031; it is expected to grow at a CAGR of 2.5% from 2025 to 2031.

The oilfield equipment and services (or OFS) industry refers to all products and services associated with the oil and gas exploration and production process, i.e. the upstream sector of the energy industry. In general these companies are engaged in the manufacturing, repair, and maintenance of equipment used in oil extraction and transportation.

Products such as seismic testing, transport services, and directional services for horizontal drillers in addition to well construction, and production and completion services are generally what most would typically think when an oilfield services company comes to mind.

However, the range of products and services under the OFS umbrella is wide and include many technology-based services that are vital for successful field operations. Such services include locating energy sources, energy data management, drilling and formation evaluation, geological sciences, and many others.

Global Energy Demand: The continuous and growing global demand for energy, particularly in emerging economies, is a major driver. Oil and gas remain primary sources of energy, driving the need for efficient exploration, production, and extraction.

Technological Advancements: Ongoing advancements in technology are driving the development of innovative oilfield equipment and services. Enhanced drilling technologies, IoT integration, automation, robotics, and data analytics are leading to increased efficiency, safety, and cost-effectiveness in operations.

LPI (LP Information)' newest research report, the “Oilfield Equipment and Services (OFS) Industry Forecast” looks at past sales and reviews total world Oilfield Equipment and Services (OFS) sales in 2024, providing a comprehensive analysis by region and market sector of projected Oilfield Equipment and Services (OFS) sales for 2025 through 2031. With Oilfield Equipment and Services (OFS) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Oilfield Equipment and Services (OFS) industry.

This Insight Report provides a comprehensive analysis of the global Oilfield Equipment and Services (OFS) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Oilfield Equipment and Services (OFS) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Oilfield Equipment and Services (OFS) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Oilfield Equipment and Services (OFS) and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Oilfield Equipment and Services (OFS).

This report presents a comprehensive overview, market shares, and growth opportunities of Oilfield Equipment and Services (OFS) market by product type, application, key players and key regions and countries.

Segmentation by Type:
Drilling Services
Workover & Completion Services
Production Services
Processing & Separation Services
Geophysical Services
Other Services

Segmentation by Application:
Onshore
Offshore

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Schlumberger
Halliburton
Baker Hughes (GE)
Weatherford
National Oilwell Varco
TechnipFMC
COSL
Archer
Expro
Trican Well Service
Basic Energy Services
Nabors
Pioneer Energy Services
Saipem
Patterson-UTI
Liberty Oilfield Services
Helmerich & Payne
Calfrac Well Services
Key Energy Services
Welltec
Transocean
Petrofrac
RPC
AlMansoori
ADES
Eurasia Drilling
KCA Deutag
NexTier Oilfield Solutions

Please note: The report will take approximately 2 business days to prepare and deliver.