13:54 | 06.11.2017
Global Oilfield Services Market Report 2017: Analysis By Applications & Services 2014-2025 – Research and Markets
Services Market Analysis By Application, By Service, And Segment
Forecasts, 2014 – 2025” report has been added to Research
and Markets’ offering.
The global oilfield services market was valued at USD 103.26 billion in
2016 and is estimated to witness a CAGR of 3.4% from 2017 to 2025 and is
expected to be valued at USD 139.1 billion
These services are being increasingly implemented owing to the rising
demand for energy and the development of new oilfields.
The purpose of oilfield services is to help operators control the
subsurface pressures, minimize formation damage, control borehole
erosion, and optimize drilling parameters including the penetration rate
and hole cleaning. The burgeoning offshore industry, particularly in the
Persian Gulf, is anticipated to drive the oilfield services market over
the forecast period. However, the adverse environmental effects of E&P
activities coupled with strict government regulations are likely to
hinder the market growth.
The processing & separation segment accounted for a market share of
12.7% in 2016 and is anticipated to ascend at a CAGR of 2.7% over the
forecast period. This service aids the treatment of oil by means of
distillate treaters, desalting & dehydration electrostatic treaters, and
multiphase separation systems. It helps purify the natural gas obtained
from reservoirs, eliminating its inherent impurities.
The techniques employed in gas processing & treatment include glycol
dehydration, monoethylene glycol reclamation & regeneration, phase
separation, and acid gas treatment & removal. The various advantages of
processing & separation are anticipated to boost the demand for oilfield
services over the next few years.
The growing number of deep-water exploration and production activities
in the Gulf region is projected to fuel the demand for drilling fluids
over the forecast period. In 2015, major companies such as Chevron,
Petronas, Shell, Total, and YPF had announced plans to invest in E&P
activities. However, macroeconomic factors such as inflation, falling
oil prices, and the economic downturn had a negative impact on the oil
production in various parts of Argentina, Brazil, and Venezuela.
Further key findings from the report suggest:
The global demand for oilfield services in onshore applications was
valued at USD 66.57 billion in 2016 and is anticipated to record a
steady growth over the next eight years
Production emerged as the largest segment of the market, by service,
in 2016 and is predicted to be valued at USD 29.57 billion by 2025
Seismic is anticipated to be the fastest growing segment of the
market, by service, ascending at a CAGR of 4.2% over the next eight
Asia Pacific is anticipated to progress at a CAGR of 4.8% over the
forecast period. Growing concerns about the wellbore stability, well
blowout, and extreme temperature operating conditions are expected to
boost the demand for oilfield services in offshore and onshore regions
in the coming years.
Key players of the market include Schlumberger Limited, Baker Hughes
Incorporated, Archer Limited, Halliburton Company, and Weatherford
International. These players often engage in research & development
activities in order to expand their product portfolios and gain larger
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Oilfield Services Market Variables, Trends, and Scope
Chapter 4 Oilfield Services Market: Application Estimates & Trend
Chapter 5 Oilfield Services Market: Service Estimates & Trend Analysis
Chapter 6 Oilfield Services Market: Type Estimates & Trend Analysis
Chapter 7 Oilfield Services Market: Regional Estimates & Trend Analysis
Chapter 8 Competitive Landscape
Chapter 9 Company Profiles
Baker Hughes Inc.
Weatherford International Inc.
Calfrac Well Services Ltd.
Cudd Energy Services
Superior Energy Services, Inc
Trican Well Service Ltd.
C&J Energy Services, Inc.
For more information about this report visit https://www.researchandmarkets.com/research/m28njb/oilfield_services
View source version on businesswire.com: http://www.businesswire.com/news/home/20171106005756/en/