#Global Oilfield Logging Services Market Trend
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Global Oilfield Logging Services Market Dynamics and Strategic Insights Review 2024 - 2031
The global oilfield logging services market was valued at approximately $255.6 billion in 2023. Forecasts indicate that the market will grow to $270.11 billion in 2024 and is projected to reach $420.27 billion by 2032. This growth reflects a compound annual growth rate (CAGR) of about 5.68% from 2024 to 2032.
Overview of Oilfield Logging Services
The global oilfield logging services market is a vital component of the oil and gas industry, providing critical data and insights that enhance the efficiency of drilling and production operations. This article delves into the current landscape, growth drivers, challenges, and future trends in the oilfield logging services market.
Key Types of Oilfield Logging Services
Wireline Logging Wireline logging is a traditional method where instruments are lowered into the wellbore on a wireline cable. This technique allows for real-time data acquisition and analysis, providing insights into the reservoir's properties.
Measurement While Drilling (MWD) MWD technology collects data during the drilling process. This real-time information helps operators make informed decisions, improving drilling accuracy and efficiency.
Logging While Drilling (LWD) LWD combines drilling and logging processes, enabling operators to gather data on the geological formation while drilling continues. This method enhances data availability and reduces downtime.
Geophysical Logging Geophysical logging measures the physical and chemical properties of the rock and fluids within the well. This data helps in reservoir characterization and evaluation.
Market Drivers
Increasing Global Energy Demand
The growing global energy demand, especially in emerging economies, is a significant driver for the oilfield logging services market. As countries strive to meet their energy needs, the exploration of new oilfields becomes essential, boosting the demand for logging services.
Technological Advancements
Advancements in logging technology, including improved sensors and data analytics, have enhanced the precision and efficiency of oilfield logging. Companies that leverage these technologies can gain a competitive advantage and improve operational performance.
Focus on Enhanced Oil Recovery (EOR)
As conventional oil reserves dwindle, there is an increasing focus on Enhanced Oil Recovery techniques. Logging services provide critical data necessary for implementing EOR strategies, thereby increasing recovery rates and maximizing output.
Challenges in the Market
Environmental Regulations
The oil and gas industry faces heightened scrutiny regarding its environmental impact. Regulatory pressures related to environmental sustainability can pose challenges for traditional logging services, prompting the need for more eco-friendly practices.
Market Volatility
Fluctuating oil prices significantly influence investment levels in exploration and production, leading to market volatility. This uncertainty can impact the demand for oilfield logging services.
Skilled Labor Shortage
The industry is currently experiencing a shortage of skilled professionals, which may hinder the quality and availability of oilfield logging services. This challenge necessitates investment in workforce development and training.
Regional Analysis
North America
North America is a leading market for oilfield logging services, driven by robust exploration activities in shale oil and gas formations. The region's technological advancements and infrastructure further support market growth.
Asia-Pacific
The Asia-Pacific region is witnessing rapid energy demand growth, particularly in countries like China and India. Increased investments in oil exploration are driving the demand for logging services in this region.
Europe
In Europe, the focus is shifting towards sustainable energy solutions and advanced technologies. The oilfield logging services market is evolving to meet the changing demands of this environmentally conscious market.
Future Outlook
The global oilfield logging services market is set for growth, propelled by technological innovations and an ongoing need for efficient resource management. Companies that adapt to market changes and invest in cutting-edge solutions will likely succeed in this competitive landscape.
Conclusion
The oilfield logging services market is essential for the efficient and sustainable extraction of oil and gas resources. As the industry evolves, understanding the key drivers, challenges, and future trends will be crucial for stakeholders aiming to navigate this dynamic market.
By leveraging advanced technologies and responding to environmental and market challenges, the oilfield logging services sector can contribute significantly to the future of energy production.
#Global Oilfield Logging Services Market Size#Global Oilfield Logging Services Market Trend#Global Oilfield Logging Services Market Growth
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The Oilfield Services Market is projected to grow from USD 134007 million in 2024 to an estimated USD 169756.05 million by 2032, with a compound annual growth rate (CAGR) of 3% from 2024 to 2032.The oilfield services (OFS) market plays a critical role in the global oil and gas industry. It encompasses a wide range of services required during various phases of exploration, drilling, production, and maintenance of oil and gas wells. The market's dynamics are driven by fluctuations in crude oil prices, technological advancements, and increasing demand for energy. As the world transitions toward a balanced energy mix, the oilfield services market continues to evolve, integrating new technologies and responding to the shifting needs of the oil and gas industry. This article explores the current trends, growth drivers, challenges, and future outlook for the oilfield services market.
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Market Overview and Segmentation
Oilfield services are integral to the oil and gas value chain. They include services such as well drilling, formation evaluation, well completion, production optimization, and well intervention. The OFS market is typically segmented into three categories: 1. Drilling Services: Encompassing all services related to well drilling, such as rig operation, directional drilling, and logging. 2. Completion Services: These services ensure the well is ready for production, involving tasks such as casing, cementing, and hydraulic fracturing. 3. Production and Maintenance Services: Focused on optimizing well performance and extending its lifespan. This includes pressure pumping, enhanced oil recovery (EOR) techniques, and well intervention services.
The oilfield services market is directly influenced by the exploration and production (E&P) activities of oil and gas companies. Therefore, its performance closely correlates with oil price trends, geopolitical stability, and regulatory policies. As oil prices rise, investments in E&P projects increase, leading to higher demand for oilfield services. Conversely, a downturn in oil prices can result in reduced investments, slowing the OFS market.
Key Market Trends
1. Technological Advancements: One of the most significant trends shaping the oilfield services market is the adoption of advanced technologies. Innovations such as artificial intelligence (AI), big data analytics, automation, and Internet of Things (IoT) are transforming how oil and gas companies manage their operations. AI-powered predictive maintenance tools, for instance, help companies reduce equipment downtime and improve operational efficiency. Additionally, the advent of digital oilfields—integrating sensors, data analytics, and automated workflows—has enhanced productivity and decision-making capabilities.
2. Shift Toward Unconventional Resources: The growing focus on unconventional oil and gas resources, such as shale gas and tight oil, has opened new avenues for the OFS market. Horizontal drilling and hydraulic fracturing (fracking) have become common in unconventional resource extraction. As a result, demand for services related to well stimulation and reservoir evaluation has surged. North America, particularly the United States, has been at the forefront of this shift due to its large shale reserves, which has made it one of the most lucrative markets for oilfield services.
3. Energy Transition and Sustainability: As the world moves toward a low-carbon future, oil and gas companies are under increasing pressure to adopt sustainable practices. The oilfield services sector is responding by offering solutions that reduce environmental impact. These include greener fracturing fluids, carbon capture and storage (CCS) technologies, and waste management services. Moreover, the rise of renewable energy has prompted oilfield services companies to diversify their offerings and venture into supporting offshore wind, geothermal, and hydrogen projects.
Growth Drivers
1. Rising Energy Demand: The global demand for energy, driven by population growth and industrialization, is one of the primary factors driving the oilfield services market. Despite the push for renewables, fossil fuels still account for a significant portion of global energy consumption, and oilfield services are essential to ensuring continued production.
2. Recovery in Oil Prices: After experiencing a downturn during the COVID-19 pandemic, oil prices have gradually recovered, encouraging E&P companies to resume operations. This recovery has revitalized drilling and production activities, subsequently driving the demand for oilfield services.
3. Increasing Investments in E&P: With global oil demand expected to grow in the near term, many oil and gas companies are increasing investments in exploration and production activities. This is particularly true for deepwater and ultra-deepwater projects, which require sophisticated oilfield services, including drilling, completion, and subsea intervention.
Challenges
Despite the positive outlook, the oilfield services market faces several challenges. One of the most pressing is the volatility of crude oil prices, which can significantly impact the profitability of E&P activities and, consequently, the demand for oilfield services. Additionally, stringent environmental regulations and the increasing emphasis on reducing greenhouse gas emissions present hurdles for the industry.
Another challenge is the ongoing talent shortage. The oil and gas sector is facing a generational shift, with many experienced workers retiring and fewer young professionals entering the industry. This has led to a skills gap, which could hinder the efficient delivery of oilfield services.
Future Outlook
The oilfield services market is poised for growth in the coming years, driven by rising energy demand, the recovery of oil prices, and the need for technological advancements in the industry. However, the sector must also adapt to the evolving energy landscape, where sustainability and digital transformation will play a more prominent role.
Companies in the oilfield services market will need to embrace innovation and diversify their portfolios to stay competitive. By offering sustainable solutions and leveraging cutting-edge technologies, the oilfield services sector can continue to play a vital role in the global energy mix while meeting the demands of a rapidly changing world.
Key Player Analysis:
Baker Hughes Company
HALLIBURTON
SLB
Weatherford
Superior Energy Services
China Oilfield Services Limited
ARCHER OILFIELD ENGINEERS
Expro Group
TechnipFMC plc
Segmentation:
By Type
Equipment Rental
Field Operation
Analytical Services
By Service
Geophysical
Drilling
Completion & Workover
Production
Processing & Separation
By Application
Onshore
Offshore
By Region
North America
US
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-east Asia
Rest of Asia Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
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Well Intervention Market Poised for Growth Amid Rising Energy Demand and Technological Advancements
The Well Intervention Market Size was esteemed at USD 7.9 billion in 2023 and is supposed to arrive at USD 12.36 billion by 2032 and develop at a CAGR of 5.1% over the forecast period 2024–2032.
The global well intervention market is expected to witness substantial growth over the next decade, driven by the increasing need for maximizing the production efficiency of oil and gas wells, rising global energy demand, and ongoing technological innovations in well services. As oil and gas companies look to extend the life of mature wells and enhance hydrocarbon recovery rates, well intervention services are becoming more crucial than ever.
Well intervention refers to a range of services that are performed to maintain, repair, or enhance the production of an oil or gas well. These services include well maintenance, well stimulation, logging, re-perforation, and plugging. Well intervention activities are essential for sustaining production from mature wells and for optimizing production performance from new wells.
As the global oil and gas industry faces growing pressure to improve productivity and cost-efficiency, well intervention services are emerging as a critical tool for extending the lifespan of wells and increasing production output. The market is benefiting from the rising global energy demand and the growing focus on offshore oil and gas exploration, where intervention services are essential for maintaining well integrity and performance.
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Current Trends
Several key trends are shaping the well intervention market, including:
Increased Focus on Offshore Exploration: Offshore oil and gas fields are a key focus area for major energy companies due to their vast untapped reserves. As offshore wells tend to be more expensive and complex to drill, well intervention services are crucial for maximizing returns on investment and improving production efficiency.
Growing Number of Mature Wells: With many oilfields around the world entering their maturity phase, operators are increasingly relying on well intervention services to maintain production levels and extend the operational life of wells. This trend is particularly prominent in regions such as North America and the North Sea, where many wells are reaching the end of their primary production phase.
Technological Advancements: Innovations in coiled tubing, wireline services, and hydraulic fracturing are enabling more efficient and cost-effective well intervention activities. The development of advanced tools and techniques is helping to reduce downtime, minimize well damage, and optimize production, particularly in offshore environments where well intervention costs are typically higher.
Environmental and Safety Regulations: The growing emphasis on environmental sustainability and safety in the oil and gas industry is driving demand for more precise and efficient well intervention techniques. Companies are increasingly adopting low-impact intervention methods that minimize environmental disturbances while ensuring well integrity and safety.
Shift Toward Digitalization: The integration of digital technologies such as real-time data analytics, remote monitoring, and automated systems is transforming the well intervention landscape. These technologies are helping operators to enhance the efficiency of intervention activities, reduce costs, and improve decision-making processes.
Segmentation Analysis
By Type
Light Well Intervention: These services involve wireline and slickline operations to monitor well performance, adjust downhole valves, and conduct basic maintenance. Light interventions are typically less expensive and are used for well diagnostics and low-complexity tasks.
Medium Well Intervention: Medium interventions involve coiled tubing operations, which allow for more complex tasks such as cleaning, scale removal, and acid stimulation. Coiled tubing is highly versatile and is widely used for both onshore and offshore well interventions.
Heavy Well Intervention: These services involve snubbing, fishing, and workover operations that are used to address major well issues such as casing repairs, tubing replacements, and re-completion activities. Heavy interventions are more complex and expensive, but are essential for revitalizing aging or damaged wells.
By Service
Logging and Bottomhole Survey: These services involve the use of wireline tools to gather critical data about well conditions, including temperature, pressure, and formation characteristics. Logging services help operators assess well performance and identify areas for improvement.
Stimulation: Well stimulation services, such as acidizing and hydraulic fracturing, are designed to enhance well productivity by increasing the permeability of the reservoir rock. Stimulation is particularly important for wells in tight formations or those experiencing a decline in production.
Re-perforation: Re-perforation involves creating new perforations in the well casing to access previously untapped reservoirs or improve the flow of hydrocarbons. This service is essential for maximizing production from mature wells.
Sand Control: Sand control services are used to prevent the production of sand from the reservoir, which can damage equipment and reduce well performance. Gravel packing and sand consolidation techniques are commonly used to address this issue.
Others: Other well intervention services include plug and abandonment (P&A), tubing replacement, and wellhead repair, all of which are essential for maintaining well integrity and ensuring safe operations.
By Application
Onshore: Onshore wells, which are typically easier and less expensive to access, account for a significant portion of well intervention activities. The onshore sector includes interventions in both conventional and unconventional oil and gas wells.
Offshore: Offshore well interventions are more complex and costly, but they are crucial for maintaining production in deepwater and ultra-deepwater wells. The offshore sector is expected to grow rapidly, driven by rising investments in offshore exploration and production activities.
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The well intervention market is poised for steady growth, driven by the need to extend the life of mature wells and enhance production efficiency in both onshore and offshore fields. Technological advancements in well intervention tools and services, along with rising investments in offshore exploration, are expected to play a key role in market expansion.
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Oilfield Services Market: Growth, Innovations, and Economic Dynamics
The oilfield services market has been a crucial component of the global energy sector, supporting oil and gas exploration, production, and maintenance operations worldwide. According to recent statistics, the oilfield services market achieved a valuation of approximately USD 311.65 billion in 2023. Projections indicate robust growth with a compound annual growth rate (CAGR) of 6.50% from 2024 to 2032, aiming to reach a market value of USD 550.09 billion by 2032.
Market Overview and Segmentation
The oilfield services market encompasses a diverse range of services essential to the oil and gas industry's operational efficiency. These services include drilling, well completion, production, intervention, reservoir evaluation, and maintenance. Key segments within the market include:
Drilling Services: This segment involves drilling wells for oil and gas extraction, utilizing advanced technologies such as horizontal drilling and hydraulic fracturing (fracking) to optimize production efficiency.
Well Completion and Production Services: These services focus on preparing wells for production after drilling, including casing, cementing, perforation, and installation of production equipment.
Reservoir Evaluation Services: Utilizing seismic surveys, logging, and other technologies to assess subsurface conditions and optimize reservoir management strategies.
Maintenance and Intervention Services: Essential for ongoing operations, including well servicing, workover operations, and remedial services to enhance well productivity and longevity.
Technological Advancements and Innovation
The oilfield services market is characterized by continuous technological advancements aimed at improving operational efficiency, reducing costs, and mitigating environmental impacts. Innovations such as digital oilfields, automated drilling systems, real-time data analytics, and remote monitoring capabilities are revolutionizing how oilfield services are delivered. These technologies enhance decision-making processes, optimize resource utilization, and improve safety standards across the industry.
Global Market Trends
Several key trends are shaping the oilfield services market:
Focus on Cost Efficiency: Amid fluctuating oil prices and economic uncertainties, there is a growing emphasis on cost-effective solutions and operational efficiency across the value chain.
Environmental Sustainability: Increasing regulatory pressures and environmental concerns are driving the adoption of eco-friendly technologies and practices, including carbon capture and storage (CCS) and enhanced water management techniques.
Integrated Service Offerings: Companies are increasingly offering integrated service packages that encompass multiple facets of oilfield operations, providing streamlined solutions and reducing logistical complexities for oil and gas operators.
Economic Impact and Market Drivers
The oilfield services market plays a pivotal role in the global economy by supporting energy production, job creation, and technological innovation. As a key enabler of oil and gas exploration and production activities, the market's growth influences investment decisions, infrastructure development, and economic stability in energy-dependent regions worldwide.
Challenges and Opportunities
Despite its promising growth trajectory, the oilfield services market faces challenges such as geopolitical instability, regulatory uncertainties, and shifts towards renewable energy sources. However, these challenges also present opportunities for innovation, diversification into emerging markets, and strategic partnerships to navigate evolving industry dynamics.
Future Outlook
Looking ahead, the oilfield services market is poised for sustained growth driven by technological advancements, increasing energy demand from emerging economies, and ongoing investments in unconventional oil and gas resources. As the industry adapts to environmental and regulatory pressures while leveraging digital transformation, opportunities for market expansion and innovation will continue to shape its evolution in the coming years.
Market Expansion and Regional Dynamics
The oilfield services market exhibits varied growth patterns across different regions due to geopolitical factors, regulatory environments, and resource availability. Key regions include:
North America: Dominated by the United States and Canada, North America leads in shale oil and gas production, driving demand for advanced drilling and hydraulic fracturing technologies.
Middle East and Africa: Rich in conventional oil reserves, this region continues to invest in upstream activities, leading to demand for drilling, production, and maintenance services.
Asia-Pacific: Rapid industrialization and urbanization in countries like China and India fuel demand for energy, boosting investments in offshore drilling, exploration, and production services.
Europe: Emphasizes environmental sustainability and renewable energy transition, influencing demand for innovative oilfield services that enhance operational efficiency and reduce environmental impact.
Impact of Technological Advancements
Technological innovations such as artificial intelligence (AI), machine learning, and IoT (Internet of Things) are revolutionizing the oilfield services market by:
Enhancing Operational Efficiency: AI-driven predictive analytics optimize drilling operations, reduce downtime, and improve equipment maintenance schedules.
Improving Safety Standards: IoT-enabled sensors and real-time data monitoring systems enhance safety protocols by detecting potential hazards and enabling proactive intervention measures.
Facilitating Remote Operations: Remote-controlled drilling rigs and automated systems enable operators to monitor and manage operations from centralized control centers, reducing operational costs and enhancing scalability.
Supply Chain Resilience and Global Supply Dynamics
The oilfield services market relies on a complex global supply chain encompassing equipment manufacturers, logistics providers, and service contractors. Factors influencing supply chain resilience include geopolitical tensions, trade policies, and disruptions such as pandemics or natural disasters, highlighting the need for diversified sourcing strategies and risk mitigation measures.
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Wireline Market: Share, Revenue, Players, and Future
The wireline market, once the undisputed king of communication, continues to play a vital role in our connected world. While facing challenges from wireless technologies, the wireline market is adapting and evolving to maintain its relevance. This article delves into the current state of the wireline market, exploring its size, share, growth trajectory, and the key trends shaping its future.
Wireline Market Size and Share:
The wireline market size reached an estimated USD 88.2 billion in 2023, showcasing a modest but steady 2.8% annual growth rate. Although overshadowed by the explosive growth of wireless technologies, the wireline market retains its significance in specific sectors.
Market share is divided between two primary segments: telecommunication services and oil & gas services. Telecommunication services, encompassing high-speed internet access (HSI) and fixed-line telephony, hold the larger share at around 65%. Oil & gas services, which utilize wireline technology for well logging, exploration activities, and data transmission, account for the remaining 35%.
Wireline Industry Growth and Revenue:
The future growth of wireline market is projected to remain stable, with a forecasted CAGR of 2.54% over the next five years. This translates to a projected market size of USD 103.8 billion by 2028. This growth is primarily driven by:
The rise of bandwidth-intensive applications: The increasing popularity of video streaming, cloud computing, and online gaming necessitates high-speed and reliable internet connections, fueling the demand for HSI.
Expansion of fiber optic networks: The rollout of fiber optic infrastructure offers significant advantages in terms of speed, capacity, and reliability, making it an attractive option for businesses and residential users alike.
Continued importance in oil & gas exploration: Despite the rise of alternative energy sources, the oil & gas industry remains a significant contributor to the wireline market, with wireline technology playing a crucial role in exploration and production activities.
Wireline Market Trends:
Several key trends are shaping the future of the wireline market:
Convergence with wireless: Wireline providers are increasingly offering bundled packages that combine high-speed internet access with mobile phone services, catering to user preferences for seamless connectivity.
Focus on fiber optic infrastructure: Investments in fiber optic network expansion will remain a critical factor for market growth, offering superior bandwidth and attracting a wider customer base.
Smart city initiatives: The development of smart cities, with their reliance on interconnected infrastructure and real-time data collection, will create new opportunities for wireline solutions.
Wireline Industry Major Players:
The major players in wireline market can be categorized into two segments:
Telecommunication service providers: Leading companies like AT&T, Verizon, and Comcast dominate the HSI and fixed-line telephony sector, offering a range of wireline services to residential and business customers.
Oilfield service companies: Schlumberger, Baker Hughes, and Halliburton are key players in the wireline oil & gas service sector, providing specialized wireline technology and services for exploration and production activities.
Wireline Market Future Outlook:
The future of the wireline market hinges on its ability to adapt and innovate. By focusing on:
Expanding fiber optic infrastructure
Offering competitive bundled packages
Developing innovative solutions for emerging technologies
The wireline market can ensure its continued relevance alongside the expanding wireless landscape. While growth might be modest compared to wireless, the wireline market will likely remain a crucial component of the global telecommunications infrastructure.
In conclusion, the wireline market continues to navigate a changing technological landscape. While its dominance has shifted, the market retains significance in specific sectors and offers a foundation for reliable and high-speed connectivity. As industry players adapt and embrace new technologies, the wireline market can continue to play a vital role in our increasingly connected world.
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Challenges and Opportunities in the Rental Equipment Market
Oilfield equipment plays a pivotal role in enabling cost-effective exploration of unconventional hydrocarbons, deep drilling, and horizontal drilling. The growth of the global oilfield rental equipment market is majorly driven by unrelenting oil & gas exploration and production and increasing drilling operations for unconventional hydrocarbons Technological advancements are making oil and gas exploration more efficient, with oilfield equipment and services serving as integral components of the energy industry. These encompass well intervention, well logging, well completion, and drilling activities. In most cases, oil and gas operators contract oilfield service providers to carry out drilling operations.
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Oilfield equipment not only facilitates the development of oil and gas wells but also offers end-to-end solutions, including tools maintenance, repair, and manufacturing. A plethora of tasks, such as reservoir monitoring, refining, development, well monitoring, drilling, and geophysical surveys, are crucial for hydrocarbon extraction, along with the commissioning and decommissioning of projects.
Key Drivers of the Global Oilfield Rental Equipment Market:
The growth of the oilfield rental equipment market is primarily driven by the increasing demand for energy sources, the imperative need for cost optimization, and the surge in deep offshore oil exploration. Furthermore, technological advancements in oilfield equipment, growing foreign investments in exploration and production (E&P), and increased drilling activities are poised to propel the oilfield rental equipment market. Additionally, the North American region's unconventional hydrocarbon production has surged, further boosting the demand for oilfield equipment.
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Market Scenario: Opportunities and Challenges:
The global oilfield rental equipment market is experiencing growth due to sustained oil and gas exploration and production activities, as well as the increasing drilling operations for unconventional hydrocarbons. Oil and gas companies are making significant investments in exploration operations to meet the rising demand for hydrocarbons, which is expected to drive the market's growth. Moreover, offshore environments necessitate specific technical and environmental considerations compared to onshore oil and gas activities. Despite the challenges posed by extreme offshore conditions, innovations in exploration and processing technologies have made production economically viable in areas like the Sakhalin Island, Cook Inlet, Caspian Sea, Bohai Sea, and Grand Banks. While the oil market experienced a slump in recent years, leading to reduced exploration activities and pressure on offshore drillers and service providers, the market is gradually recovering, providing expanded opportunities for offshore drillers.
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COVID-19 Scenario Analysis:
The global oilfield rental equipment market is anticipated to witness a slowdown due to the COVID-19 pandemic. Lockdowns imposed by governments worldwide have led to factory closures in numerous regions, resulting in a significant decline in oilfield equipment production and industrial sector output. The oilfield rental equipment industry is directly affected by the downturn in the oil industry since it is a key consumer of such equipment. Companies are grappling with reduced sales and disrupted supply chains as production activities come to a halt.
Key Segments Covered:
The report provides a comprehensive analysis of the global oilfield rental equipment industry, covering key segments, trends, and future projections.
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Directional Drilling Market to Reach USD11.43 Billion by 2027
Increasing oilfield exploration and growing number of oil well discoveries to drive the demand for Global Directional Drilling Market in the forecast period.
According to the TechSci Research report, “Directional Drilling Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027”, the Global directional drilling market was valued at USD8.10 billion in 2021 and is forecast to grow at a CAGR of 5.71% to reach USD11.43 billion by 2027. Increasing oilfield exploration activities for discovering new shale reserves and surging demand for energy are driving the growth of the global directional drilling market. Low installation costs and faster installation backed by high oil prices lead to the increased demand for drilling process which has high efficiency and productivity, which is driving the demand for global directional drilling market.
When compared with traditional drilling, directional drilling is cheaper as it requires less operators, hence there is saving in manpower. In addition, less dirt is displaced through directional drilling, therefore less dirt needs to be restored. Horizontal directional drilling does not require backhoe and other heavy equipment rentals which further reduces the overall cost of operation.
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https://www.techsciresearch.com/report/directional-drilling-market/4569.html
Global directional drilling market is segmented into type, component, service, technology, application, field development type, company, and regional distribution. Based on application, the market can be segmented into onshore and offshore. The demand for offshore projects is continuously increasing owing to the vast untapped reserves being used by developing deep-water projects. Consequently, the application of directional drilling in offshore projects is expected to grow at a CAGR of 6.22% in the forecast period. The offshore oil and gas contracts increased by approximately 6% in November 2021, with a total of 210 contracts compared to 198 contracts in the previous month.
In terms of field development type, the market can be segregated into greenfield and brownfield. The greenfield development projects in the global directional drilling market are expected to grow at a CAGR of 6.17% in the forecast period as they aim to develop new oil and gas fields. Countries all over the world are investing in oil & natural gas industry with a primary emphasis on greenfield projects. Middle Eastern countries such as Qatar, the UAE, and Saudi Arabia aim to ramp up gas production to meet rising regional demand, fueling the development of greenfield projects.
Leading players operating in the global directional drilling market include:
Halliburton Co.
Schlumberger Limited
Scientific Drilling International
Loam Drilling Systems, Inc.
NOV Inc.
Baker Hughes Holdings LLC
Weatherford International plc
Jindal Drilling & Industries Limited
Cathedral Energy Services Ltd
Nabors Industries Ltd.
Gyrodata Incorporated
The global directional drilling market is consolidated with few players accounting for approx. 70% of the market. Schlumberger Limited, followed by Halliburton Co., led the global directional drilling market in 2021. Schlumberger Limited is an oilfield services company, offering drilling and measurement in which it provides services related to mud logging for directional drilling.
While Halliburton Co. is the world’s largest provider of products and services for the energy industry. On November 16, 2021, the company released iCruise X Intelligent Rotary Steerable System, a drilling platform with advanced technology.
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“Due to increasing adoption of directional drilling in the region, North America is the dominant region in the Global Directional Drilling Market accounting for a share of 30.45% in 2021. North America is emerging as the largest market for onshore applications of directional drilling due to the surge in shale gas production in the United States and intervention activities in its shale basin regions. Horizontal wells drilled into tight oil and shale gas deposits continue to account for a growing share of crude oil and natural gas production in the United States and therefore are becoming a profitable market for directional drilling companies.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Directional Drilling Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027, Segmented By Type (Conventional System, Rotary Steerable System), By Component (Drilling Tool Rental, Rig Rental, OCTG Rental, Consumables, Others), By Service (Drilling, Logging-While-Drilling, Measurement-While-Drilling & Survey), By Technology (Wellbore Positioning, Side Tracking, Well Planning, Others), By Application (Onshore v/s Offshore), By Offshore Application (Shallow, Deep, Ultra-deep), By Field Development Type (Greenfield Vs Brownfield), By Region” has evaluated the future growth potential of global directional drilling market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global directional drilling market.
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Wireless Logging Services Market:2026 Size, Opportunities, Company Profile, Developments and Outlook
Wireless Logging Services Overview:
The Maximize Market research report gives you a complete report of the global Wireless Logging Services . The study focuses on developing Market trends and important growth factors to assist Market participants in identifying opportunities in the Wireless Logging Services . The research provides a comprehensive overview of the Market, as well as Market financials such as Market size from 2015 to 2020, with 2020 as the base year and forecast years 2021-2027. The breadth and segments of the global Wireless Logging Services are covered in the Maximize Market Research report, which categorises it by product type, application areas, and geographies. The Market segmentation prioritises specific Markets and prospects over individual segments. North America, Europe, APAC, South America, and MEA are the major regions of the world included in the report. This provides a revenue forecast for each region from 2021 to 2027.
COVID-19 Impact on Global Wireless Logging Services :
Different racial and ethnic groups reacted differently to the COVID-19 dislike. Inequities in the social determinants of health, such as income and wealth, access to and use of health care, education, occupation, discrimination, and housing, are all linked. Economic headwinds will come from a variety of directions for emerging Market and developing nations. Even this grim prognosis is fraught with uncertainty and huge dangers to the negative. The pace with which the crisis has engulfed the global economy may provide insight into the depth of the recession. Our highly skilled and informed team is always innovating and delivering innovative solutions to our clients, all while utilising the most cutting-edge technologies.
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This Maximize Market research report shows the possible economic benefits of investing in the Wireless Logging Services to provide a greater understanding of the industry. Not only does the research provide a bright view for the Market, but it also analyses the drawbacks and risks that may arise for investment or competitiveness as a result of the emergence of some unfavourable aspects. The study's research analysts and industry speakers share their forecasts of the Self-service Webcasting industry. The goal of this Maximize Market Research report is to compile the opinions and recommendations of the industry leaders who were contacted throughout the research.
Global Wireless Logging Services Regional Analysis Includes:
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
North America (the United States, Mexico, and Canada.)
South America (Brazil etc.)
The Middle East and Africa (GCC Countries and Egypt.)
Key players:
• Cisco • Honeywell • Motorola Solutions • ADT • Brocade Communications and Fortinet, Inc. • Schlumberger Limited • Halliburton Company • China Oilfield Services • Weatherford PLC • Baker Hughes Company • Expro International Group Holdings Ltd. • Pioneer Energy Services • Casedhole Solutions • Basic Energy Services • Archer Limited • Other Key Players
The overall purpose of the Maximize Market research report is to determine Market priorities and bottlenecks. The paper also offers advice on how to best handle the risks posed by new and disruptive technologies. Most importantly, referring to this report assists Market participants in staying informed of changing Market dangers and providing the best advice possible to Market participants, as well as the introduction or amendment of regulatory processes. This Maximize Market Research report study contains results and suggestions tailored to all Market players, investors, stakeholders, and other participants in the global Wireless Logging Services . This Maximize Market research report will serve as a valuable resource for those looking to acquire a competitive advantage in the Market.
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Segmentation:
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The study examines these categories in depth, as well as their Market financials, such as Market size from 2015 to 2020, with 2020 as the base year and forecast years 2021-2027.
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Downhole Tools Market, Size, Share 2021-2028
Market Overview
The Global Downhole Tools Market is expected to grow at a CAGR of 4% during the forecasting period (2021-2028).
The growth of the market is primarily driven by ongoing increase in drilling activities worldwide. Crude oil and natural gas found in shale and tight sand formations are known as unconventional oil and gas reserves. Unconventional oil is petroleum produced or extracted using techniques other than the conventional (oil well) method. Oil industries and governments across the globe are investing in unconventional oil sources due to the increasing scarcity of conventional oil reserves. This has resulted in an increase in the exploration of unconventional resources.
The report covers all the major trends and drivers playing a vital role in the growth of the global downhole tools market. The market has been segmented by application, by tool type, and by region.
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Market Dynamics
Downhole tools play an important role in oil & gas exploration and production activities with applications in a variety of operations such as fishing, casing, cementing, well bottom communication, drilling, logging, fracturing, and well measurements. Moreover, the cost incurred in the extraction process has declined with the advent technological innovations and operational efficiencies. This has resulted in an increase in the exploration of unconventional resources. Therefore, fueling the growth in downhole tools market.
In addition, Significant oilfield developments coupled with supportive governmental regulations for unconventional reserves, is projected to boost the growth in the market. With the increase in demand for Oil & gas all around the world, there has been significant rise in development of new sites for exploration. Therefore, resulting in significant growth in downhole tools market over the forecast period.
Market Segment Analysis
By Application
· 2018 & 2028 (%)
By Region
· 2018 & 2028 (%)
Regional Analysis
By geography, the global Downhole Tools Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
North America holds the largest market share for Downhole Tools Market Owing to the increased number of rigs in the US, the drilling activities are expected to increase which in turn increases the requirement of the downhole tools. In September 2019, according to the U.S. Energy Information Administration Drilling Productivity Report, U.S. oil output from seven major shale formations was about 8,843 thousand barrels/day in October 2019. A combination of hydraulic fracturing and horizontal drilling technology as well as large-scale commercial exploitation in key basins, such as the Permian and Appalachian, have pushed overall crude oil and natural gas production in the United States to all-time high.
Competitive Analysis
Global Downhole Tools Market is a concentrated market with the major share held by key players in the market. The market is quite competitive and to gain competitive advantage, the major downhole tools manufacturers adopt several strategies such as M&A, joint ventures, contracts, and agreements to help them sustain the market’s competitive environment.
The major players include General Electric, Halliburton, National Oilwell Varco, Schlumberger, Weatherford, Aker Solutions, American Oilfield Tools, Archer, Dril-Quip, C&J Energy Services, Hunting, Superior Energy Services, Tryton Tool Services, Vortex Tools, Weir Group, Xtreme Drilling, and among others.
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Directional Drilling Services Market: Trends, Market Size, and Forecasts up to 2030
The report on the global directional drilling services market provides qualitative and quantitative analysis for the period from 2017 to 2025. The report predicts the global directional drilling services market to grow with a CAGR of 4.9% over the forecast period from 2019-2025. The study on directional drilling services market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2017 to 2025. The report on directional drilling services market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global directional drilling services market over the period of 2017 to 2025. Moreover, the report is a collective presentation of primary and secondary research findings.
Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-104588 Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global directional drilling services market over the period of 2017 to 2025. Further, IGR- Growth Matrix gave in the report brings an insight into the investment areas that existing or new market players can consider. Report Findings 1) Drivers • Rise in energy demand due to shale gas development • Increasing urbanization and industrialization • Increasing advancement in drilling technologies 2) Restraints • Rising focus on renewable energy 3) Opportunities • Discovery of new oilfields Research Methodology A) Primary Research Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include 1. Key Opinion Leaders associated with Infinium Global Research 2. Internal and External subject matter experts 3. Professionals and participants from the industry Our primary research respondents typically include 1. Executives working with leading companies in the market under review 2. Product/brand/marketing managers 3. CXO level executives 4. Regional/zonal/ country managers 5. Vice President level executives. B) Secondary Research Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources. The secondary sources of the data typically include 1. Company reports and publications 2. Government/institutional publications 3. Trade and associations journals 4. Databases such as WTO, OECD, World Bank, and among others. 5. Websites and publications by research agencies Segment Covered The global directional drilling services market is segmented on the basis of type, service, and application. The Global Directional Drilling Services Market by Type • Conventional • Rotary Steerable System The Global Directional Drilling Services Market by Service • Logging-while-Drilling (LWD) • Rotary Steerable System (RSS) • Measurement While Drilling (MWD) and Survey • Drag Analysis • Well Bore Positioning • Other Services The Global Directional Drilling Services Market by Application • Onshore • Offshore Company Profiles The companies covered in the report include • Weatherford International plc • Cathedral Energy Services Ltd. • Schlumberger Limited • National Oilwell Varco, Inc. • Halliburton Company • Baker Hughes Co. • Jindal Drilling and Industries Limited • Gyrodata Inc. • Leam Drilling Systems, LLC • Scientific Drilling International Inc. • Other companies What does this report deliver? 1. Comprehensive analysis of the global as well as regional markets of the directional drilling services market. 2. Complete coverage of all the segments in the directional drilling services market to analyze the trends, developments in the global market and forecast of market size up to 2025. 3. Comprehensive analysis of the companies operating in the global directional drilling services market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company. 4. IGR- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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Coiled Tubing Market To Grow at a Staggering CAGR of 5.6% By 2027.
Global Coiled Tubing Market report published by Astute Analytica provides insight and updates about the corresponding segments involved in the global market for the forecast period of 2021-2027. A detailed analysis of the market dynamics is provided and comprehensive data about the structure of the industry. The Global Coiled Tubing Market Research Study contains exclusive insights into the market's forecast growth.
Global Coiled Tubing Market is expected to witness the market growth at a rate of 5.6% in the forecast period 2021-2027.
The Coiled Tubing Market report serves as major support for the transformation of global businesses. It serves as an insight into the opportunities that are driving this transformation. Additionally, the report includes an estimation of market size as well as revenue forecasts expressed in US dollars. Moreover, it offers useful insight into future trends for the Coiled Tubing Market. Furthermore, new players in the global Coiled Tubing Market will be able to use the information gathered in the study to make effective business decisions, thereby providing momentum for their companies and businesses overall.
Factors Impacting the Coiled Tubing Market
There is a detailed analysis of factors impacting the Coiled Tubing Market in this report. The elements include trends, restraints, and drivers that either positively or negatively affect the market. Also, this report includes a detailed analysis of restraints, which illustrates the contrast to drivers and provides a basis for strategic planning. Market growth overshadows the development of various angles for deriving lucrative business opportunities that arise from the ever-expanding market. These factors are paramount for devising different strategies for grabbing lucrative opportunities. In addition, market experts' opinions were incorporated into the study in order to obtain a better understanding.
Impact of Covid-19: the Coiled Tubing Market
The Coiled Tubing Market report examines Coronavirus (Covid-19) and its impact on the Coiled Tubing Market.
In the wake of the outbreak of the Covid-19 virus in December 2019, the disease has infected several countries around the globe, leading to a public health emergency designation by the World Health Organization. Coronavirus disease has already started to impact the global market for Coiled Tubing Market and will affect the sector significantly.
It has affected many aspects, including flight cancellations, travel bans and quarantines, restaurant closures, indoor events restricted, emergency declarations in many countries, stock market unpredictability, falling business assurance, growing panic among the population, and an uncertain future.
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Regional Outlook: The Coiled Tubing Market
This report offers an ample analysis of the growth and other aspects of the Coiled Tubing Market throughout important regions such as France, the U.S., Germany, the U.K., Italy, Russia, China, Japan, Canada, South Korea, Taiwan, Mexico, Southeast Asia, and Brazil. Europe, North America, Latin America, and Asia-Pacific are the top regions covered in the report.
The report aims to analyze and describe various factors that contribute to regional growth, such as the economic, environmental, social, technological, and political status of a region. Each region's revenue, production, and manufacturers have been studied by analysts. This section examines regional revenue and volume during the forecast period.
Aim of the Coiled Tubing Market Report
The Coiled Tubing Market is segmented based on By Services, By Application, By Region.
By Services:
Well Cleaning
Well Intervention
Well Completion
Logging
Fishing
Perforation
Others
Pumping and Mechanical Operation
Drilling Services
Directional Drilling
Managed Pressure Drilling
Others
By Application:
Onshore
Offshore
By Region:
North America
Europe
Asia Pacific
Middle East & Africa
South America
Key Players: The Coiled Tubing Market
The Coiled Tubing Market report covers major market players:
· Altus Intervention
· Baker Hughes Company
· Calfrac Well Services Ltd.
· C&J Energy Services, Inc.
· Halliburton
· Nabors Industries Ltd.
· National Energy Services Reunited
· NexTier Oilfield Solution
· RPC Inc.
· Schlumberger Limited
· Superior Energy Services
· Trican
· Weatherford
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Drilling Services Market Top Companies Data 2021, Industry Share, Demand and Revenue Growth Opportunities
The global drilling services market is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information. The report is titled "Drilling Services Market Size, Share & COVID-19 Impact Analysis, By Service (Directional Drilling {Measurement While Drilling, Logging While Drilling, Rotary Steerable System, Gyro Drilling, Magnetic Drilling, and Others} and Non-Directional Drilling), By Application (Onshore and Offshore {Shallow Water, Deepwater, and Ultra-Deepwater}), By End-User (Oil & Gas, Mining, Water Exploration, and Others), and Regional Forecast, 2020-2027". The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period. It also offers an exclusive insight into various details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies.
The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other drilling services market trends. The report is available for sale on the company website.
List of Key Companies Covered in this Drilling Services Market Report:Sumitomo Precision Products Co (Japan)
Siemens (Germany)
DV8 Technology Ltd. (UK)
REFLEX NOW (Australia)
Motive Drilling Technologies (U.S.)
Kearfott Corporation (US)
ION Geophysical (U.S.)
Zupt, LLC (U.S.)
KLX Energy Services (U.S.)
Welltec (Denmark)
International Drilling Services LLC (Oman)
Boart Longyear (U.S.)
The Weir Group PLC (UK)
AlMansoori Specialized Engineering (United Arab Emirates)
Leam Drilling Systems LLC (U.S.)
Petrofac (UK)
Superior Energy Services (U.S.)
VES Survey International (U.S.)
Unitech Drilling Company Limited (Nigeria)
Compass Directional Guidance, Inc. (U.S.)
Oceaneering (U.S.)
TechnipFMC (UK)
Halliburton (US)
Inertial Sensing One AB (Sweden)
Axis Mining Technology (Australia)
Devico AS (Norway)
Stockholm Precision Tools AB (SPT) (Sweden)
Gyrodata (US)
Emerson (U.S.)
Schneider Electric (France)
Erdos Miller (U.S.)
Oliden Technology (U.S.)
Gyro Australia (Australia)
Phoenix Technology Services (Canada)
Center Drill Inc. (U.S.)
Gyro Drilling (Netherlands)
JAE (Japan)
Radial Drilling Services, Inc. (U.S.)
Integra (Russia)
JINDAL DRILLING & INDUSTRIES LTD. (India)
NewTech Services (Russia)
NOV (U.S.)
Huracan Pty Ltd. (Australia)
Baker Hughes (U.S.)
Archer - the well company (Norway)
DIDRILLSA LTDA (Colombia)
Drill Tech Solution (Azerbaijan)
China Oilfield Services Limited (China)
AnTech (UK)
Weatherford (Switzerland)
Nabors Industries (U.S.)
Scientific Drilling (U.S.)
Brownline (Netherlands)
Icefield Tools Corporation (Canada)
Schlumberger (U.S.)
Regional Insights
Increasing Oil Production in the US to Aid the North America Market Growth
North America is expected to dominate the drilling services market share during the forecast period owing to the rising production level of oil & gas in the US and Canada. Moreover, drilling technologies are being extensively employed in the US to discover shale gas reserves, which will put the US at the forefront of the hydrocarbon industry. In 2019, the North America market size stood at USD 4.93 billion.
In Asia Pacific, the Drilling Services Market is anticipated to experience prolific growth on account of the abundant availability of mineral and metal reserves spread across the region, which will stoke the demand for drilling services. On the other hand, the market in the Middle East & Africa is likely to undergo speedy expansion due to the rich presence of oil reserves in this region.
Regional Analysis for Drilling Services Market:
North America (the USA and Canada)
Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
Latin America (Brazil, Mexico and Rest of Latin America)
Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for Drilling Services Market:
Introduction
Executive Summary
Market Dynamics
Key Drilling Services Market Insights
Global Market Analysis, Insights and Forecast, 2015-2026
North America Market Analysis, Insights and Forecast, 2015-2026
Europe Market Analysis, Insights and Forecast, 2015-2026
Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
Latin America Market Analysis, Insights and Forecast, 2015-2026
Competitive Landscape
Global Drilling Services Market Revenue Share Analysis, By Key Players, 2020
Company Profiles
Conclusion
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Oilfield Services Market Research Report - Forecast to 2023
Market Highlights
Oilfield services are being applied by all E&P companies to enhance recovery of fossil fuels. Aging production wells is a primary factor driving the growth of the global oilfield services market. Analytics plays a very important role in operating a successful business today, and oilfield services primarily use analytics to improve production. The demand for oilfield services is growing globally, for instance in May 2018 Saudi Aramco signed a contract with Halliburton to operate in shale fields in the country.
Based on service, the oilfield services market is segmented as seismic, drilling, characterization, completion, production, well intervention, and others. Completion segment held the largest market share in 2017, primarily on account of the advances in completion technology. Some of the latest completion technology include permanent monitoring system, stimulation, and surface logging. Based on application, the oilfield services market is segmented as onshore and offshore. The onshore segment held the largest market share in 2017 owing to the rise in maturing wells.
The global oilfield services market is expected to grow at 4.01% CAGR during the forecast period.
Market Research Analysis
North America accounts for the largest market share whereas Middle East & Africa is the fastest growing region.
Region wise, North America held the largest market share of the global oilfield services market in 2017. It is estimated that the Middle East & Africa region will continue to dominate the market during the forecast period, mainly due to the availability of huge reserves of shale. The region has substantial prospects in the countries including Saudi Arabia, UAE and Jordan.
Scope of the Report
This report provides an in-depth analysis of the global oilfield services market, tracking TWO market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the oilfield services market by its service, application, and region.
By Service
Seismic
Drilling
Characterization
Completion
Production,
Well Intervention
Others
By Application
Onshore
Offshore
By Regions
North America
Asia-Pacific
Europe
Rest of the World
Key Players
The key players of the global oilfield services market size are Schlumberger Limited (US), General Electric (US), Halliburton (US), Weatherford (France), National Oilwell Varco (US), Asian Oilfield Services Limited (India), TechnipFMC plc (UK), Bronco Oilfield Services Inc (US), and Liberty Oilfield Service (US).
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We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.
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Directional Drilling Services Market Development Trends, Threats, Future Outlook and Challenges till 2026
Market Overview
Directional drilling refers to a process of drilling a well with a preferred deviation to reach the target location. This type of drilling is done for placing the wellbore precisely to get maximum recovery both on land and offshore regions. The main aim of this type of drilling is to cover large areas by the use of the single rig. Maturing and aging onshore oilfields has paved paths to increasing directional drilling in the onshore regions supported by offshore exploration and production activities in deep and ultra-deep regions over the past few decades. This is further backed by augmenting horizontal drilling services to maximize the productivity of the oil and gas well.
The increase in energy demand, urbanization, industrialization, increase in exploration, production activities, and various other factors have led to an increase in demand and growth for the directional drilling services market. Declining prices of crude oil stand are the major restraint in the directional drilling services market globally. Stringent government regulations further hinder the growth of the directional drilling services market.
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Market Dynamics
The MWD and Survey are anticipated to be the dominant segment in the directional drilling services market, owing to its application in controlling the trajectory of the well while drilling. These techniques are anticipated to have wide use over the forecast period in North America and the Asia Pacific.
The onshore segment is the dominant segment of the directional drilling services market, owing to the maturing and aging onshore fields. However, offshore oilfield activities are witnessed to be at the fastest growing pace due to the development of new projects on deep and ultra-deep waters in the last few decades.
Global Directional Drilling Services Market Taxonomy
On the basis type, the global directional drilling services market is segmented as:
Conventional
Rotary Steerable System (RSS)
On the basis of service, the global directional drilling services market is segmented as:
Measurement While Drilling (MWD) and Survey
Logging While Drilling (LWD)
Turbo-Drills
RSS
Motors
Others
On the basis of technology, the global directional drilling services include:
Wellbore Positioning
Side Tracking
Automated Drilling Systems
Well Planning
Torque & Drag Analysis
Others
The major companies in the global directional drilling services include Halliburton Company, Weatherford International Plc., Schlumberger Limited, Nabors Industries Ltd., National Oilwell Varco, Cathedral Energy Services Ltd., Baker Hughes Incorporated, General Electric Oil & Gas, and Jindal Drilling & Industries Limited.
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Water Cut Monitors Market Analysis, Business Growth & Opportunities to 2030
Market Analysis/Dynamics
The well intervention market size will grow at a 6.1% CAGR between the forecast period 2022- 2030, states the recent Market Research Future (MRFR) analysis. Well intervention, simply put, is the operation performed on gas or oil well during or towards the end of the production life, which improves the efficiency of well geometry by repair, replacement, or maintenance of the equipment.
Various factors are propelling the global well intervention services market trends. According to the recent MRFR report, such factors include the growing number of matured oil and gas fields, increasing need for refined petroleum products, rapid industrialization and urbanization across emerging economies, aging oilfields, lower exploration rate of newer fields, enhanced oil recovery, and increasing need for logging services for change in geological substructure of wells. Additional factors adding market growth include superior energy services, increasing investments for technological advances to improve the efficiency, increasing subsea production, on-going government focus towards the development of aging fields, and favorable government taxation schemes.
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On the contrary, volatile crude oil costs, geopolitical uncertainty, and the negative impact on the oil and gas sector during the COVID-19 pandemic may limit the global well intervention market research over the forecast period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global well intervention market based on applications and services.
By services, the global well intervention market is segmented into re-perforation, artificial lift, stimulation, logging and bottom hole survey, and others. Of these, the logging and bottom hole survey segment will lead the market over the forecast period.
By applications, the global well intervention market is segmented into off-shore and on-shore. Of these, the offshore segment will dominate the market over the forecast period for its increasing demand in offshore oil rigs for harsh environmental conditions.
Regional Analysis
By region, the well intervention market growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period. Growth in unconventional resources in Canada and the US, demand for intervention operations in mature offshore fields in the Gulf of Mexico, rising number of discoveries in the oil and gas industry, increasing discoveries, and huge potential for exploring oil fields are adding to the global well intervention market growth in the region.
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In the APAC region, the well intervention market share is predicted to have healthy growth over the forecast period. Increased use of well intervention services in the natural gas and oil sector, increased aged wells, and increasing capital expenditure are adding to the global well intervention market growth in the region.
In Europe, the well intervention market is predicted to have sound growth over the forecast period. Investments to explore new offshore hydrocarbons reserves and streamlined operations are adding to the global well intervention market growth in the region.
In the Rest of the World, the well intervention market is predicted to have steady growth over the forecast period. An increase in the productivity of oil wells and an improvement in the performance of such wells are adding to the global well intervention market growth in the region.
Competitive Landscape
Key contenders profiled in the global well intervention market report include Basic Energy Services, Inc. (U.S.), Superior Energy Services, Inc. (U.S.), Trican Well Service Ltd. (Canada), Archer Limited (U.K.), Weatherford International Plc. (Switzerland), Baker Hughes Incorporated (U.S.), TechnipFMC plc. (U.K.), Schlumberger Limited (U.S.), Halliburton Company (U.S.), and GE Oil & Gas (U.K.), among others.
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Global Well Intervention Market Statistics, CAGR, Outlook, and Covid-19 Impact 2026
Global Well Intervention Market is valued approximately USD 6.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.5 % over the forecast period 2020-2027. A well intervention is remedial operation performed on oil or gas wells with the concern of restoring or increasing the production. Earlier, it was traditionally done with drill rigs, but with significant advancements in technologies, construction and head designs have transformed. The number of unforeseen problems such as changes in reservoir characteristics, flow restrictions, mechanical failure, and others may occur in Oil or Gas well, which results the need of well intervention. Various oil & gas companies across regions shut down their producing assets and services as countries practiced partial or full lockdown strategy to deal with the COVID-19 pandemic. Thus, the global well intervention market is facing challenges due to corona virus crisis. The increasing efforts for production enhancement from maturing oil & gas fields, continuous shale developments, stabilized oil prices expediting upstream capital investments and rising primary energy consumption from Asia Pacific are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 10th February 2020, SOCAR-AQS and Halliburton Company agreed a Memorandum of Understanding (MOU) to form a new joint venture. This venture will provide a broad suite of oilfield products and services in Azerbaijan., which further strengthens the position of Halliburton company in oilfield services. However, strict government regulations on E&P activities and decreasing oil demand in Europe are the major factors restraining the growth of the global Well Intervention market during the forecast period.
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The regional analysis of global Well Intervention market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to the growth in unconventional resources in the US and Canada. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
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Major market player included in this report are: Halliburton Schlumberger Baker Hughes Company Weatherford NexTier Oilfield Solutions Superior Energy Services Archer Expro Group Trican Pioneer Energy Services
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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by Service: Logging & Bottomhole survey Tubing/Packer failure & repair Stimulation Sand Control Zonal Isolation Artificial Lift Fishing Re-perforation Others
By Intervention Type: Light Intervention Medium Intervention Heavy Intervention
By Application: Onshore Offshore
By Well Type: Vertical Well Horizontal Well
By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE
Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018 Base year – 2019 Forecast period – 2020 to 2027
Target Audience of the Global Well Intervention Market in Market Study:
Key Consulting Companies & Advisors Large, medium-sized, and small enterprises Venture capitalists Value-Added Resellers (VARs) Third-party knowledge providers Investment bankers Investors
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