Credence Research states the interest of a new study on Production Oilfield Services & Equipments Market. The Production Oilfield Services & Equipments Market is expected to Exhibit Rapid Growth during the Forecast Period. The research report, named “Production Oilfield Services & Equipments Market- Growth, Future Prospects, and Competitive Analysis, 2018- 2026,” estimates the historical performance and the current standing of this market, emphasizing especially on the dynamics of the need and supply of Production Oilfield Services & Equipments.
The study research also considers many sections of the global Production Oilfield Services & Equipments Market completely on the basis of the product type and application, considering their current as well as historical performance across the globe. Moreover, the report also shows the growth trajectory of each of the sections, global as well as in each of the regional segments, representing a descriptive analysis of the overall industry.
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Oil & gas production is intricate and hazardous process which requires advanced technology for safe and efficient operation. Volatile oil prices, environmental concerns and accidents happened in past has derived the need of specialized oilfield services to enhanced oil production with safe operations. Major oilfield services provider offers variety of services ranging from exploration till production of crude oil. Production oilfield services and equipment includes services such as pressure pumping, SURF support, completion & equipment services, drilling and production services, specialty chemicals, well servicing, coil tubing, surface equipment, etc. Slowdown in oil & gas industry due to supply demand disproportion has negatively impacted the demand for exploratory oilfield services. However, production oilfield services and equipments are still in demand and expected to register significant growth over the forecast period (2016-2023). Pressure pumping is expected to be the largest segment among services type due to growing nonconventional shale gas production activities across the globe. Followed by it, SURF support segment is anticipated to be the second largest segment expected to register moderate growth over the forecast period. Other services such as well servicing, specialty chemicals, drilling & production are expected to register slow growth due to low oil prices till 2017. However, the segments are anticipated to gain momentum after the recovery of oil prices.
Global production oilfield services & equipments market is expected to gain momentum due to increasing demand for fossil fuel and with recovery in oil prices. Discovery of nonconventional shale especially in North America has fostered the demand for production oilfield service & equipments since 2010. Moreover, growing exploration and production activities in offshore reserves especially in U.S. Gulf of Mexico is expected to drive the demand for oilfield services & equipments over the forecast period (2016-2023). However, stringent regulatory policies regarding waste disposal and oil spillage are expected to restrain the demand for production oilfield services. Moreover, nonconventional shale gas exploration is banned in few countries such as France, Germany, and others. France has ban shale gas exploration due to the concern that water can be contaminated from chemicals used in the hydraulic fracturing process, while Germany has temporarily ban shale gas exploration and production awaiting further environmental assessments.
The study paper also speaks about the present as well as upcoming ventures in the global Production Oilfield Services & Equipments Market at length, making this knowledge of special value for businesses, consultants, and stakeholders functional in this market.
Further, the report analyzes the competitive aspect of this market by reviewing the profiles of the key market participants in a bid to determine the current hierarchy.
The main purpose of this research study is to help the associates operating in the worldwide industry for Production Oilfield Services & Equipments Market in planning active artifices and enhancing their decision-making techniques to gain a competitive edge over their challengers.
The report added new project SWOT analysis, investment feasibility analysis, and investment return analysis.
- The research gives an in-depth analysis of the global Production Oilfield Services & Equipments Market, with running trends and future views, to elucidate the imminent investment pockets.
- The quantitative study from 2018 to 2026 is demanded to enable the stakeholders to capitalize on prevailing market possibilities.
- The report provides real historical figures for 2014 and year-on-year predictions from 2018 to 2026, considering 2018/2018 as a base.
- Overall analysis of all geographical regions is presented to determine the general opportunities.
Production Oilfield Services & Equipments Market key segments
- By type
- By technology
- By end-user
- By region
O North America
10.1 Baker Hughes Incorporated
10.2 Schlumberger Limited
10.3 Weatherford International Limited
10.4 Halliburton Company
10.5 Yantai Jereh Oilfield Services Group Co. Ltd
10.6 Beron Energy Ltd
10.7 Frontier Oilfield Services Inc.
10.8 The Weir Group PLC
On the basis of services, global production oilfield services & equipment market is categorized into following types:
- Pressure pumping services
- SURF support
- Completion & Equipment Services
- Drilling & Production
- Specialty Chemicals
- Well Servicing
- Coil tubing
- Surface Equipment services
- Rig Equipments
- Others (Renting & Fishing)
Oilfield services are end to end services including drilling & production, specialty chemicals, hydraulic fracturing, simulation, production, etc. supporting exploration and production activities. Global oil production has grown 8.7% since 2010 to reach 95.7 Mn barrels per day in 2015 which has caused supply demand imbalance this in turn has negatively influence the oil prices since 2014. Oil producers are reducing their capital expenditure on upstream exploration and production activities in order to minimize the impact of oil prices volatility which in turn has negatively influenced the oilfield services & equipments market. However, increasing energy consumption across the globe due to growth in population and increasing urbanization is expected to counter the imbalance between supply and demand by 2017 end. Also, growing shale gas production especially in North America is expected to foster the growth of oilfield services& equipments market over the forecast period.
On the basis of services, the global production oilfield services & equipments market can be segmented as pressure pumping, SURF support, completion & equipment services, drilling & production, specialty chemicals, well servicing, and others. Pressure pumping is expected to be the most dominant and fastest growing segment owing to increasing production of shale gas in North America and other regions of the globe.
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