- Equipment rental
- Field operation
- Analytical services
Oilfield Services Market size was valued at USD 261.7 billion in 2022 and is expected to reach a value of USD 324.0 million by 2029, growing at a CAGR of 3.10% during the forecast period 2023 to 2029. The global market provides a detailed overview of the oilfield services market and that can be segmented by type, service, and application. By type, the oilfield services market has been segmented into equipment rental, field operation, and analytical services. The equipment rental segment is likely to be the largest and fastest-growing segment in terms of type. Based on service, the oilfield services market is segmented into drilling & completion fluid services, drilling waste management services, oil country tubular goods, pressure pumping services, well completion equipment & services, well intervention services, wireline services, and coiled tubing services. Among these, the drilling waste management services segment is expected to have the fastest-growing market during the forecast period 2023-2029. On the basis of application, the market is segregated into onshore and offshore. The onshore segment is likely to be the largest and fastest-growing segment in the market.
Oilfield Services Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
3.1%
Largest Market
Asia Pacific
Fastest Growing Market
Asia-Pacific
Oilfield Services Market Dynamics
Techniques like directional drilling and hydraulic fracturing are being developed to improve the production process in reservoirs as the demand for shale gas develops. Oilfield services are in high demand during extraction, which may give business prospects. The worldwide oilfield services market is expected to be driven by rising global energy demand and technological advances in the oilfield throughout the projected period. An increase in deep-water exploration and production activities in the Gulf region is expected to drive demand for the drilling industry over the forecast period.
Asia-Pacific Got Significant Share
Oilfield Services Market Regional Analysis
By region, the Asia Pacific market is expected to witness the highest market share during the forecast period. Market expansion in this region is predicted to be boosted by factors such as rising oil production, an increase in the number of oil rigs, and the development of offshore operations.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The oilfield services market report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
- The oilfield services market report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
- The oilfield services market report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The oilfield services market report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The oilfield services market report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Oilfield Services Market Segmentation
By Type
By Service Type
- Drilling & Completion Fluid Services
- Drilling Waste Management Services
- Oil Country Tubular Goods
- Pressure Pumping Services
- Well Completion Equipment & Services
- Well Intervention Services
- Wireline Services
- Coiled Tubing Services
By Application
- Onshore
- Offshore
Frequently Asked Questions
The oilfield services market is projected to expand at a CAGR of 3.10% during the forecast period.
The major players in the global oilfield services market are AlMansoori Specialized Engineering (UAE), Baker Hughes (Texas), Emerson (United States), Halliburton (Texas), National Oilwell Varco (United States), Saudi Aramco (Saudi Arabia), Schlumberger (Texas), Weatherford (United States) and Weir Oil and Gas (Glasgow).
Asia Pacific is the fastest-growing region for oilfield services market
| 1. Executive Summary |
| 2. Global Oilfield Services Market Introduction |
| 2.1. Global Oilfield Services Market Taxonomy |
| 2.2. Global Oilfield Services Market Definitions |
| 2.2.1. Type |
| 2.2.2. Service |
| 2.2.3. Application |
| 3. Global Oilfield Services Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Oilfield Services Market Dynamic Factors - Impact Analysis |
| 3.6. Global Oilfield Services Market Competition Landscape |
| 3.7. Epidemiology |
| 4. Global Oilfield Services Market Analysis,2018 - 2022 and Forecast, 2023 - 2029 |
| 4.1. Market Analysis,2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Oilfield Services Market, By Type, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1. Equipment rental |
| 5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Field operation |
| 5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Analytical services |
| 5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Oilfield Services Market Forecast, By Service, 2018 - 2022 and Forecast, 2021 2027 (Revenue, USD Mn) |
| 6.1. Drilling & Completion Fluid Services |
| 6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Drilling Waste Management Services |
| 6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Oil Country Tubular Goods |
| 6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Pressure Pumping Services |
| 6.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Well Completion Equipment & Services |
| 6.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Well Intervention Services |
| 6.6.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Wireline Services |
| 6.7.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 6.8. Coiled Tubing Services |
| 6.8.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.8.3. Market Opportunity Analysis |
| 7. Global Oilfield Services Market, By Application, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1. Onshore |
| 7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Offshore |
| 7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 8. Global Oilfield Services Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia-Pacific |
| 8.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Latin America |
| 8.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Middle East and Africa |
| 8.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Global Oilfield Services Market - Opportunity Analysis Index, By Type, Service, Application and Region, 2023 - 2029 |
| 9. North America Oilfield Services MarketAnalysis,2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 9.1. Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.1.1. Equipment rental |
| 9.1.2. Field operation |
| 9.1.3. Analytical services |
| 9.2. Service Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Drilling & Completion Fluid Services |
| 9.2.2. Drilling Waste Management Services |
| 9.2.3. Oil Country Tubular Goods |
| 9.2.4. Pressure Pumping Services |
| 9.2.5. Well Completion Equipment & Services |
| 9.2.6. Well Intervention Services |
| 9.2.7. Wireline Services |
| 9.2.8. Coiled Tubing Services |
| 9.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Onshore |
| 9.3.2. Offshore |
| 9.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.4.1. USA |
| 9.4.2. Canada |
| 9.5. North America Oilfield Services Market - Opportunity Analysis Index, By Type, Service, Application and Country, 2023 - 2029 |
| 9.6. North America Oilfield Services Market Dynamics Trends |
| 10. Europe Oilfield Services Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 10.1. Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.1.1. Equipment rental |
| 10.1.2. Field operation |
| 10.1.3. Analytical services |
| 10.2. Service Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Drilling & Completion Fluid Services |
| 10.2.2. Drilling Waste Management Services |
| 10.2.3. Oil Country Tubular Goods |
| 10.2.4. Pressure Pumping Services |
| 10.2.5. Well Completion Equipment & Services |
| 10.2.6. Well Intervention Services |
| 10.2.7. Wireline Services |
| 10.2.8. Coiled Tubing Services |
| 10.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Onshore |
| 10.3.2. Offshore |
| 10.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Germany |
| 10.4.2. UK |
| 10.4.3. France |
| 10.4.4. Spain |
| 10.4.5. Italy |
| 10.4.6. Russia |
| 10.4.7. Poland |
| 10.4.8. Rest of Europe |
| 10.5. Europe Oilfield Services Market - Opportunity Analysis Index, By Type, Service, Application and Country, 2023 - 2029 |
| 10.6. Europe Oilfield Services Market Dynamics Trends |
| 11. Asia-Pacific Oilfield Services Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 11.1. Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.1.1. Equipment rental |
| 11.1.2. Field operation |
| 11.1.3. Analytical services |
| 11.2. Service Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Drilling & Completion Fluid Services |
| 11.2.2. Drilling Waste Management Services |
| 11.2.3. Oil Country Tubular Goods |
| 11.2.4. Pressure Pumping Services |
| 11.2.5. Well Completion Equipment & Services |
| 11.2.6. Well Intervention Services |
| 11.2.7. Wireline Services |
| 11.2.8. Coiled Tubing Services |
| 11.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Onshore |
| 11.3.2. Offshore |
| 11.4. Country Analysis2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. Japan |
| 11.4.2. China |
| 11.4.3. India |
| 11.4.4. ASEAN |
| 11.4.5. Australia & New Zealand |
| 11.4.6. Rest of Asia-Pacific |
| 11.5. Asia-Pacific Oilfield Services Market - Opportunity Analysis Index, By Type, Service, Application and Country, 2023 - 2029 |
| 11.6. Asia-Pacific Oilfield Services Market Dynamics Trends |
| 12. Latin America Oilfield Services Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 12.1. Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.1.1. Equipment rental |
| 12.1.2. Field operation |
| 12.1.3. Analytical services |
| 12.2. Service Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Drilling & Completion Fluid Services |
| 12.2.2. Drilling Waste Management Services |
| 12.2.3. Oil Country Tubular Goods |
| 12.2.4. Pressure Pumping Services |
| 12.2.5. Well Completion Equipment & Services |
| 12.2.6. Well Intervention Services |
| 12.2.7. Wireline Services |
| 12.2.8. Coiled Tubing Services |
| 12.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Onshore |
| 12.3.2. Offshore |
| 12.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Brazil |
| 12.4.2. Mexico |
| 12.4.3. Argentina |
| 12.4.4. Rest of Latin America |
| 12.5. Latin America Oilfield Services Market - Opportunity Analysis Index, By Type, Service, Application and Country, 2023 - 2029 |
| 12.6. Latin America Oilfield Services Market Dynamics Trends |
| 13. Middle East and Africa Oilfield Services Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 13.1. Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.1.1. Equipment rental |
| 13.1.2. Field operation |
| 13.1.3. Analytical services |
| 13.2. Service Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.2.1. Drilling & Completion Fluid Services |
| 13.2.2. Drilling Waste Management Services |
| 13.2.3. Oil Country Tubular Goods |
| 13.2.4. Pressure Pumping Services |
| 13.2.5. Well Completion Equipment & Services |
| 13.2.6. Well Intervention Services |
| 13.2.7. Wireline Services |
| 13.2.8. Coiled Tubing Services |
| 13.3. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.3.1. Onshore |
| 13.3.2. Offshore |
| 13.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Gulf Cooperation Council (GCC) Countries |
| 13.4.2. Israel |
| 13.4.3. South Africa |
| 13.4.4. Rest of MEA |
| 13.5. MEA Oilfield Services Market - Opportunity Analysis Index, By Type, Service, Application and Country, 2023 - 2029 |
| 13.6. MEA Oilfield Services Market Dynamics Trends |
| 14. Competition Landscape |
| 14.1. Strategic Dashboard of Top Market Players |
| 14.2. Company Profiles (Introduction, Financial Analysis, Type& Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 14.2.1. AlMansoori Specialized Engineering (UAE) |
| 14.2.2. Baker Hughes (Texas) |
| 14.2.3. Emerson (United States) |
| 14.2.4. Halliburton (Texas) |
| 14.2.5. National Oilwell Varco (United States) |
| 14.2.6. Saudi Aramco (Saudi Arabia) |
| 14.2.7. Schlumberger (Texas) |
| 14.2.8. Weatherford (United States) |
| 14.2.9. Weir Oil and Gas (Glasgow) |
| 15. Research Methodology |
| 16. Key Assumptions and Acronyms |
- AlMansoori Specialized Engineering (UAE)
- Baker Hughes (Texas)
- Emerson (United States)
- Halliburton (Texas)
- National Oilwell Varco (United States)
- Saudi Aramco (Saudi Arabia)
- Schlumberger (Texas)
- Weatherford (United States)
- Weir Oil and Gas (Glasgow)