Global Oilfield Equipment and Services (OFS) Market Research Report 2022

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.

Industry Insights

The global Oilfield Equipment and Services (OFS) market size is projected to reach US$ million by 2028, from US$ million in 2021, at a CAGR of % during 2022-2028.

Fully considering the economic change by this health crisis, Drilling Services accounting for % of the Oilfield Equipment and Services (OFS) global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Onshore segment is altered to an % CAGR throughout this forecast period.

China Oilfield Equipment and Services (OFS) market size is valued at US$ million in 2021, while the North America and Europe Oilfield Equipment and Services (OFS) are US$ million and US$ million, severally. The proportion of the North America is % in 2021, while China and Europe are % and respectively, and it is predicted that China proportion will reach % in 2028, trailing a CAGR of % through the analysis period 2022-2028. Japan, South Korea, and Southeast Asia are noteworthy markets in Asia, with CAGR %, %, and % respectively for the next 6-year period. As for the Europe Oilfield Equipment and Services (OFS) landscape, Germany is projected to reach US$ million by 2028 trailing a CAGR of % over the forecast period 2022-2028.

With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Oilfield Equipment and Services (OFS) market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Oilfield Equipment and Services (OFS) market in terms of revenue.

Overall, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Oilfield Equipment and Services (OFS) market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Oilfield Equipment and Services (OFS) market.

Impact of Covid-19 Outbreak

This section of the report has explored the overall status of the Covid scenario and has offered valuable insights into the changes in supply chain disruption, fluctuations in demand, etc. The analysts have also focused on the key measures that the companies are opting to withstand the harsh scenario.

Segmental Analysis

The report has been segmented into product and application segments. The researchers have documented all the products present today in the Oilfield Equipment and Services (OFS) market. They have also shed light on the new product innovations and launches by the key players. In the segmental analysis, the analysts have provided revenue forecast figures based on type and application for the period 2017-2028. They have also discussed about the growth rate and potential of each segment for the period 2017-2028.

Oilfield Equipment and Services (OFS) Breakdown Data by Type

Drilling Services

Workover & Completion Services

Production Services

Processing & Separation Services

Geophysical Services

Other Services

Oilfield Equipment and Services (OFS) Breakdown Data by Application

Onshore

Offshore

Regional Analysis

North America

United States

Canada

Europe

Germany

France

UK

Italy

Russia

Nordic Countries

Rest of Europe

Asia-Pacific

China

Japan

South Korea

Southeast Asia

India

Australia

Rest of Asia

Latin America

Mexico

Brazil

Rest of Latin America

Middle East & Africa

Turkey

Saudi Arabia

UAE

Rest of MEA

Competitive Landscape

This segment focuses on the key players operating in the industry. It underlines all the current and future activities by the prominent manufacturers. By understanding various initiatives being taken up by different players, readers will gain the ability to settle on correct business choices. The authors of the report have provided accurate revenue figures of the companies for the period 2017-2022. The clients are sure to gain the upper hand once they get hold of this report. Key players studied in the research report include:

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

Frequently Asked Questions

What factors will challenge the Oilfield Equipment and Services (OFS) market growth?

Which end-use segment will expand at the fastest CAGR in the Oilfield Equipment and Services (OFS) market?

Which are the emerging players in the Oilfield Equipment and Services (OFS) market?

How concentrated is the Oilfield Equipment and Services (OFS) market?

Which factors are positively contributing to the Oilfield Equipment and Services (OFS) market growth?

Which are the novel product innovations in the Oilfield Equipment and Services (OFS) market?

Which product segment will emerge as the most lucrative in the Oilfield Equipment and Services (OFS) market?

Which factors are increasing the competition in the Oilfield Equipment and Services (OFS) market?

Which are the strategic measures taken by the Oilfield Equipment and Services (OFS) industry players?

Which region will witness inactive growth during the forecast period?

What key trends are likely to emerge in the Oilfield Equipment and Services (OFS) market in the coming years?