Market Overview:
The global oil and gas field equipment and services market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for oil and gas across the globe. In addition, the growing exploration and production activities in offshore areas are also contributing to the growth of this market. The global oil and gas field equipment and services market can be segmented on the basis of type, application, and region. On the basis of type, the market can be divided into exploration, drilling, well completion & production, equipment & infrastructure, drilling related services, and others. The drilling segment is expected to grow at a highest CAGR during forecast period owing to increasing demand for upstream activities across different regions worldwide. On the basis of application, petroleum exploration & development accounted for majority share in 2017 followed by natural gas exploration & development segments respectively due To high consumption rate as fuel source in various industries such as automotive etc.
Product Definition:
Oil and Gas Field Equipment and Services is a collective term for the various types of equipment and services used in the oil and gas industry. This includes everything from drilling rigs to pipelines to tankers. The importance of oil and gas field equipment and services cannot be overstated; it is essential for extracting, transporting, refining, and storing oil and gas products.
Exploration:
Exploration is the primary process in oil and gas field equipment and services market. It includes techniques such as drilling, exploration, extraction, refining and transportation of crude oil or natural gas from the ground. The growth factor for this market is crude oil & natural gas production around the globe which has increased over last few years owing to growing demand coupled with effective technology usage in extraction processes.
Oil & Gas Drilling:
Oil and gas drilling is the process of creating a well through which petroleum can be extracted. It is used in Oil and Gas Field Equipment and Services industry for various applications such as oil extraction, gas extraction, geothermal energy production, water supply injection, etc. The global market size was valued at USD 32.5 billion in 2016 owing to increasing demand from end-use industries including transportation fuels (fuels), power generation utilities (power plants), chemicals manufacturing sector among others.
Application Insights:
Petroleum exploration and development accounted for the largest revenue share in 2016. The segment is expected to continue its dominance over the forecast period owing to increasing investments by various companies for petroleum exploration and production activities across various regions. For instance, in March 2017, Halliburton subsidiary announced about expanding its operations at South America by acquiring a drilling rig fleet of four units with an estimated value of USD 446 million from Dresser Peru S.A.
Natural gas exploration and development are also likely to witness significant growth over the forecast period owing to increasing demand from countries such as China, India, Mexico etc.
Regional Analysis:
North America accounted for the largest revenue share in 2017. The region is expected to maintain its dominance over the forecast period owing to factors such as increasing offshore drilling activities and shale gas exploration in U.S., which will drive market growth over the forecast period. In addition, growing demand for enhanced oil recovery (EOR) techniques due to large proven reserves of oil sands and conventional crude oils is anticipated to augment industry growth in North America during the same period.
Asia Pacific is estimated to be one of the fastest-growing regions with a CAGR exceeding 5% from 2018 to 2030 owing herringbone pattern of drilling rigs activity across major countries including China, India, South Korea, Philippines and Indonesia; hence driving market growth across this region during same period.
Growth Factors:
- Increasing demand for oil and gas field equipment and services due to the growth in the global population and economy.
- Rapid technological advancements in oil and gas field equipment that improve efficiency, safety, and environmental compliance.
- Rising investments in exploration and production activities by oil-and-gas companies to meet growing energy demands.
- Growing concerns over energy security leading to an increase in investments in domestic production capacity of oil and gas resources
Scope Of The Report
Report Attributes
Report Details
Report Title
Oil and Gas Field Equipment and Services Market Research Report
By Type
Exploration, Oil & Gas Drilling, Well Completion and Production, Equipment and Infrastructure, Drilling Related Services
By Application
Petroleum Exploration And Development, Natural Gas Exploration And Development
By Companies
GE(Baker Hughes), Halliburton, National Oilwell Varco, Saipem, Schlumberger
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
160
Number of Tables & Figures
112
Customization Available
Yes, the report can be customized as per your need.
Global Oil and Gas Field Equipment and Services Market Report Segments:
The global Oil and Gas Field Equipment and Services market is segmented on the basis of:
Types
Exploration, Oil & Gas Drilling, Well Completion and Production, Equipment and Infrastructure, Drilling Related Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Petroleum Exploration And Development, Natural Gas Exploration And Development
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GE(Baker Hughes)
- Halliburton
- National Oilwell Varco
- Saipem
- Schlumberger
Highlights of The Oil and Gas Field Equipment and Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Exploration
- Oil & Gas Drilling
- Well Completion and Production
- Equipment and Infrastructure
- Drilling Related Services
- By Application:
- Petroleum Exploration And Development
- Natural Gas Exploration And Development
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Oil and Gas Field Equipment and Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Oil and gas field equipment and services are used to extract oil and natural gas from the ground. This includes things like drilling rigs, pipelines, processing plants, storage tanks, and other infrastructure.
Some of the major companies in the oil and gas field equipment and services market are GE(Baker Hughes), Halliburton, National Oilwell Varco, Saipem, Schlumberger.
The oil and gas field equipment and services market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Oil and Gas Field Equipment and Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Oil and Gas Field Equipment and Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Oil and Gas Field Equipment and Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Oil and Gas Field Equipment and Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Oil and Gas Field Equipment and Services Market Size & Forecast, 2020-2028
4.5.1 Oil and Gas Field Equipment and Services Market Size and Y-o-Y Growth
4.5.2 Oil and Gas Field Equipment and Services Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Exploration
5.2.2 Oil & Gas Drilling
5.2.3 Well Completion and Production
5.2.4 Equipment and Infrastructure
5.2.5 Drilling Related Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Petroleum Exploration And Development
6.2.2 Natural Gas Exploration And Development
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Oil and Gas Field Equipment and Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Oil and Gas Field Equipment and Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Exploration
9.6.2 Oil & Gas Drilling
9.6.3 Well Completion and Production
9.6.4 Equipment and Infrastructure
9.6.5 Drilling Related Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Petroleum Exploration And Development
9.10.2 Natural Gas Exploration And Development
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Exploration
10.6.2 Oil & Gas Drilling
10.6.3 Well Completion and Production
10.6.4 Equipment and Infrastructure
10.6.5 Drilling Related Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Petroleum Exploration And Development
10.10.2 Natural Gas Exploration And Development
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Exploration
11.6.2 Oil & Gas Drilling
11.6.3 Well Completion and Production
11.6.4 Equipment and Infrastructure
11.6.5 Drilling Related Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Petroleum Exploration And Development
11.10.2 Natural Gas Exploration And Development
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Exploration
12.6.2 Oil & Gas Drilling
12.6.3 Well Completion and Production
12.6.4 Equipment and Infrastructure
12.6.5 Drilling Related Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Petroleum Exploration And Development
12.10.2 Natural Gas Exploration And Development
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Exploration
13.6.2 Oil & Gas Drilling
13.6.3 Well Completion and Production
13.6.4 Equipment and Infrastructure
13.6.5 Drilling Related Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Petroleum Exploration And Development
13.10.2 Natural Gas Exploration And Development
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Oil and Gas Field Equipment and Services Market: Competitive Dashboard
14.2 Global Oil and Gas Field Equipment and Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE(Baker Hughes)
14.3.2 Halliburton
14.3.3 National Oilwell Varco
14.3.4 Saipem
14.3.5 Schlumberger
