The Energy & Natural Resources Market Reports has been published today. It provides updated in 2018 year analysis of energy & natural resources industries.
North America's oil field services market is expected to reach $100.51 billion by 2022, up from $48.72 billion in 2013. The region's oil field services market growth is a result of increased exploration activity in Gulf of Mexico and shale boom across the region, which is presenting huge market opportunities for equipment manufacturers and service providers.
Oil and gas exploration and production is a complex process and each and every process requires sophisticated technology and equipment. First, geological surveys will be conducted to find out oil and gas reservoirs, followed by geological modeling, seismic imaging and exploratory drilling.
Pressure pumping, oil country tubular goods, wireline services, drilling & completion services, well intervention, completion equipment constitute major share of the oil field services market. In most of the cases, even bigger oil and gas companies such as Chevron and ExxonMobil doesnt buy all the equipment needed for exploration and production operations. Instead, companies turn to engineering and industrial firms that build and operate the oil rigs, tankers, and pipelines that are the backbone of the industry. These oilfield services companies provide the infrastructure, equipment, intellectual property and services needed by the international oil and gas industry to explore for, extract, and transport crude oil and natural gas from the earth to the refinery, and eventually to the consumer.
Ever increasing energy demand, increased offshore exploration activity across the globe which often going in to deeper waters and several operators efforts to find new oil and gas reserves are driving the market. Whereas on the flip side, high initial investments, lack of skilled labor, and environmental conditions such as harsh weathers are restraining the market from growth.
North America leads the market in terms of demand and is closely followed by Asia-Pacific. Asia-pacifics exploration activity is at an all time high from the last four-five years thanks to shale boom in some countries such as China. Decent market opportunity exists for this market in Europe, as the North Seas new exploration activity is now moving in to deeper waters which require much sophisticated equipment. Countries such as the Netherlands and Norway present a decent market opportunity for oil country tubular goods.
This Report Offers:
- Market Definition for the oil field services along with identification of key drivers and restraints for the market.
- Market analysis for the North America oil field services Market, with region specific assessments and competition analysis on a country and regional scale.
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on both country and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
- Identification and analysis of the Macro and Micro factors that affect the North America oil field services market on both country and regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Reasons for Buying this Report
1)For gaining an exhaustive understanding of the North America market for oil field services. Would be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade
2)An ideal opportunity for industry consultants, equipment manufacturers and other interested and allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered
3)Wide-ranging information provided about the leading market players and the major strategies adopted by them