(MENAFN- The Express Wire) Global Oilfield Services (OFS) Market Top Countries Data 2020 Industry Growth, Size, Share, Forecasts Analysis, Company Profiles, Competitive Landscape and Key Regions Analysis Research Report By 360 Market Updates
Posted on Aug 14 2020 4:40 AM
"Oilfield Services (OFS) Market 2020 Industry Report analyzed in detail with all the vital data to frame tactical business judgments and propose strategic growth plans. This report offers a comprehensive insight into the development policies and plans in addition to manufacturing processes and cost structures. Oilfield Services (OFS) report provides AN comprehensive study of prime players at intervals the market by lightness their product description, business outline and business strategy. It conjointly endows with amount of production, Oilfield Services (OFS) future demand, needed staple, and also the cash health of the organization.
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Global ' Oilfield Services (OFS) Market Report 2020 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Oilfield Services (OFS) in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India.Oilfield Services (OFS) Market report categorizes the market based on manufacturers, regions, type, and application. Oilfield Services (OFS) Market reports offer a detailed assessment of the Oilfield Services (OFS) including enabling technologies, current market situation, market assumptions, restraining factors.
The Global Oilfield Services (OFS) market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
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Oil & gas exploration and production (E & P) activities are complicated processes and require sophisticated technology and equipment. Companies involved in the oilfield services (OFS) market offer the necessary infrastructure, equipment, intellectual property, and services to the oil & gas companies that help them in exploring, extracting, and transporting oil and gas to the refinery, and then, eventually to the consumer. The oil & gas market is highly volatile and cyclical. The fall in commodity prices had a ripple effect on the oil & gas value chain. Over several decades the oil & gas industry had looked to active drilling rig count creating demand for oilfield services around the world. A rise in rig count created an increase in the demand for goods and services.
Stabilizing Oil Prices Driving the Demand for OFS
The collapse in oil prices in 2014 severely undercut company revenues and forced sharp cutbacks in spending. With commodities staging a recovery, following a multi-year price rout, activity in the oil & gas sector has begun to strengthen. With oil & gas prices recovering, the oil & gas operator companies have increased investment for the development of oil & gas projects, which were earlier delayed or stalled. The oilfield service providers are expected to be benefitted from the same with increased activities on recovery. Global capital expenditure among the 100 largest countries is expected to grow around 4.3% in 2018, supporting new project investment decisions. The global oilfield services market is expected to grow significantly during the forecast period on account of the increasing need to improve productivity from mature and new reserves, increasing focus on developing unconventional hydrocarbons, and increasing investments in deepwater and ultra-deepwater projects.
North America to Continue to Dominate the OFS Industry
There has been a drastic decrease in the rig count globally since 2014, and this fall has been reflected in demand for oilfield services in the past few years, till 2016. However, the OFS market had picked up relatively well in 2017. North America still has the most number of rigs, worldwide, followed by the Middle East. With pad‐based horizontal drilling in the United States becoming more the trend, rig count on land in North America has become less meaningful. Rig efficiency is on the rise in the United States; the number of wells a rig can drill each year is increasing at a significant rate. The number of wells drilled is the accurate measure of demand for OFS. The need to improve productivity from mature and new reserves, increasing demand for energy & petrochemicals, growing investments, deep-water exploration in North & Norwegian seas. and technological advancements are some of the factors driving the OFS market.
Whereas, there is increasing investment in the Asia-Pacific oil & gas industry, promoted actively by the governments in the region. Growing urbanization in countries, such as China, India, Indonesia, etc., contributes to the increasing demand for oil and gas in this region. A growing interest in deepwater fields is also observed in the region. The most promising opportunities for the oilfield services industry is expected to come from Southeast Asia and East Africa. This is a positive driver for Asia-Pacific oilfield services industry. The growing interest in deepwater exploration in the above-mentioned regions is expected to promote the growth of the OFS industry.
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The global Oilfield Services (OFS) market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Oilfield Services (OFS) Market Report covers the Top Key-players in 2020:-
- Baker Hughes Inc.
- Schlumberger
- Ltd
- Halliburton
- Halliburton
- and FMC Technologies
- Inc.
Highlighted points of Oilfield Services (OFS) Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
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This Oilfield Services (OFS) Market Research/analysis Report Contains Answers to your following Questions
- Which Manufacturing Technology is Used for Oilfield Services (OFS)? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Oilfield Services (OFS) Market? What's Their Company Profile, Their Product Information, Contact Information?
- What Was Global Market Status of Oilfield Services (OFS) Market? What Was Capacity, Production Value, Cost and PROFIT of Oilfield Services (OFS) Market?
- What Is Current Market Status of Oilfield Services (OFS) Industry? What's Market Competition in This Industry, Both Company, and Country Wise? What's Market Analysis of Oilfield Services (OFS) Market by Taking Applications and Types in Consideration?
- What Are Projections of Global Oilfield Services (OFS) Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
- What Is Oilfield Services (OFS) Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Oilfield Services (OFS) Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Oilfield Services (OFS) Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Oilfield Services (OFS) Industry?
Key Developments in the Oilfield Services (OFS) Market:
- July 2017: Halliburton Company announced the acquisition of Summit ESP, a leading provider of electric submersible pump (ESP) technology and services. The addition of Summit's artificial lift offerings and industry-leading customer service strengthens Halliburton's artificial lift portfolio for its global customers.
The M
Reasons to Purchase the Report
- Current and future oilfield services market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter's five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
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Finally, the report Global Oilfield Services (OFS) Market 2020 describes the Oilfield Services (OFS) industry expansion game plan, the Oilfield Services (OFS) industry knowledge supply, appendix, analysis findings, and the conclusion.
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