Market Overview:
The global oilfield and drilling 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 increasing investment in exploration and production activities is also propelling the growth of this market. The directional drilling services segment is expected to grow at a CAGR of 6% from 2018 to 2030, owing to the increase in shale gas exploration and production activities across the globe. The onshore segment accounted for majority share of the global oilfield and drilling services market in 2017, owing to high adoption rates across developed economies such as North America and Europe. However, with growing demand for energy resources in developing countries such as China, India, Brazil etc.,the offshore segment is projectedto register highest CAGR during forecast period (2018-2030).
Product Definition:
Oilfield and drilling services are important to the oil and gas industry because they provide the necessary infrastructure for extracting oil and gas from the ground. This infrastructure includes wells, pipelines, and production facilities.
Directional Drilling Services:
Directional drilling is a method of drilling a well by sending the drill string (the rig) in one or more predefined directions using electric-powered rotary rigs. The method provides several benefits over vertical and horizontal drilling, including reduced time on location and cost savings due to fewer turns. Directional wells produce hydrocarbons in multiple locations which can be extracted at different rates; this makes them economical to drill compared to other types of oil wells.
Oilfield and Drilling Supporting Activities:
Oilfield and drilling supporting activities are the set of tools, techniques, and equipment used to lower or control the boom during a drilling operation. It includes functions such as controlling & monitoring the wellbore environment (pressure maintenance), cementing perforations in borehole walls, deploying advance cementing devices for reducing drill string losses, etc.
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Application Insights:
Onshore was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The growth of this application can be attributed to increasing demand for conventional onshore oilfields as well as shale gas and tight gas wells. Conventional onshore oilfields are being replaced with newer technologies such as high-pressure hydraulic fracturing, which has enabled extraction of hydrocarbons from unconventional sources such as shale rock.
Global offshore market is expected to grow significantly owing to rising demand for deepwater drilling activities across the world ocean. Increasing exploration & production activities in ultra-deep waters have led to an increase in need for supporting services such as rig support, installation & removal of equipment, etc., which are provided by offshore service providers.
Regional Analysis:
North America dominated the global market in 2017. The U.S., being a major oil producer, is expected to be a key regional market over the forecast period. However, sluggish growth of unconventional sources such as tight oil and shale gas may hinder the region’s growth in future years.
Asia Pacific is anticipated to witness significant gains over the next eight years owing to increasing demand for onshore and offshore drilling services from developing countries such as India and China along with other Southeast Asian nations.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization in developing countries
- Rising investment in exploration and production activities by oil and gas companies
- Proliferation of new drilling technologies that improve efficiency and reduce costs
- Growing focus on renewable energy sources that is expected to result in reduced demand for oil and gas in the long run
- Stringent environmental regulations that promote the use of cleaner fuels
Scope Of The Report
Report Attributes
Report Details
Report Title
Oilfield and Drilling Services Market Research Report
By Type
Directional Drilling Services, Oilfield and Drilling Supporting Activities
By Application
Onshore, Offshore
By Companies
Schlumberger Limited, Halliburton Company, GE(Baker Hughes), Weatherford International plc (WFT), Transocean Ltd, Seadrill, Ensco plc, China Oilfield Services Limited, Noble Corporation plc, Helmerich & Payne
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
161
Number of Tables & Figures
113
Customization Available
Yes, the report can be customized as per your need.
Global Oilfield and Drilling Services Market Report Segments:
The global Oilfield and Drilling Services market is segmented on the basis of:
Types
Directional Drilling Services, Oilfield and Drilling Supporting Activities
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
Onshore, Offshore
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:
- Schlumberger Limited
- Halliburton Company
- GE(Baker Hughes)
- Weatherford International plc (WFT)
- Transocean Ltd
- Seadrill
- Ensco plc
- China Oilfield Services Limited
- Noble Corporation plc
- Helmerich & Payne
Highlights of The Oilfield and Drilling 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:
- Directional Drilling Services
- Oilfield and Drilling Supporting Activities
- By Application:
- Onshore
- Offshore
- 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 Oilfield and Drilling 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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- Consumer Insights
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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?
Oilfield and Drilling Services is a business that provides drilling services, including well construction, completion operations, and production.
Some of the major companies in the oilfield and drilling services market are Schlumberger Limited, Halliburton Company, GE(Baker Hughes), Weatherford International plc (WFT), Transocean Ltd, Seadrill, Ensco plc, China Oilfield Services Limited, Noble Corporation plc, Helmerich & Payne.
The oilfield and drilling 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 Oilfield and Drilling 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 Oilfield and Drilling Services Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Oilfield and Drilling 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 Oilfield and Drilling 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 Oilfield and Drilling Services Market Size & Forecast, 2018-2028 4.5.1 Oilfield and Drilling Services Market Size and Y-o-Y Growth 4.5.2 Oilfield and Drilling Services Market Absolute $ Opportunity
Chapter 5 Global Oilfield and Drilling Services 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 Oilfield and Drilling Services Market Size Forecast by Type
5.2.1 Directional Drilling Services
5.2.2 Oilfield and Drilling Supporting Activities
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Oilfield and Drilling Services 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 Oilfield and Drilling Services Market Size Forecast by Applications
6.2.1 Onshore
6.2.2 Offshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Oilfield and Drilling 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 Oilfield and Drilling 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 Oilfield and Drilling Services Analysis and Forecast
9.1 Introduction
9.2 North America Oilfield and Drilling Services 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 Oilfield and Drilling Services Market Size Forecast by Type
9.6.1 Directional Drilling Services
9.6.2 Oilfield and Drilling Supporting Activities
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 Oilfield and Drilling Services Market Size Forecast by Applications
9.10.1 Onshore
9.10.2 Offshore
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 Oilfield and Drilling Services Analysis and Forecast
10.1 Introduction
10.2 Europe Oilfield and Drilling Services 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 Oilfield and Drilling Services Market Size Forecast by Type
10.6.1 Directional Drilling Services
10.6.2 Oilfield and Drilling Supporting Activities
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 Oilfield and Drilling Services Market Size Forecast by Applications
10.10.1 Onshore
10.10.2 Offshore
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 Oilfield and Drilling Services Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Oilfield and Drilling Services 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 Oilfield and Drilling Services Market Size Forecast by Type
11.6.1 Directional Drilling Services
11.6.2 Oilfield and Drilling Supporting Activities
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 Oilfield and Drilling Services Market Size Forecast by Applications
11.10.1 Onshore
11.10.2 Offshore
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 Oilfield and Drilling Services Analysis and Forecast
12.1 Introduction
12.2 Latin America Oilfield and Drilling Services 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 Oilfield and Drilling Services Market Size Forecast by Type
12.6.1 Directional Drilling Services
12.6.2 Oilfield and Drilling Supporting Activities
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 Oilfield and Drilling Services Market Size Forecast by Applications
12.10.1 Onshore
12.10.2 Offshore
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) Oilfield and Drilling Services Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Oilfield and Drilling Services 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) Oilfield and Drilling Services Market Size Forecast by Type
13.6.1 Directional Drilling Services
13.6.2 Oilfield and Drilling Supporting Activities
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) Oilfield and Drilling Services Market Size Forecast by Applications
13.10.1 Onshore
13.10.2 Offshore
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 Oilfield and Drilling Services Market: Competitive Dashboard
14.2 Global Oilfield and Drilling Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Schlumberger Limited
14.3.2 Halliburton Company
14.3.3 GE(Baker Hughes)
14.3.4 Weatherford International plc (WFT)
14.3.5 Transocean Ltd
14.3.6 Seadrill
14.3.7 Ensco plc
14.3.8 China Oilfield Services Limited
14.3.9 Noble Corporation plc
14.3.10 Helmerich & Payne