Global Oilfield Services Market Revenues to Reach USD 135 Billion by 2027 – Segmented By Leading Companies, Type, and Region (2022-2027)
Oilfield Services Industry Outlook In The Next 5 Years
The global oilfield services market was valued at USD 96.65 billion in 2020, and it is expected to reach USD 135 billion by 2027, registering a CAGR of 5.13% during the forecast period of 2022-2027. Factors such as the increasing development of gas reserves and advanced technology, tools, and equipment are expected to drive the market for oilfield services. However, the volatile oil prices over the recent period, owing to the supply-demand gap, geopolitics, and several other factors have been restraining the growth in the demand for the oilfield services market.
Drilling services are expected to lead the market for oilfield services due to the increase in exploration activities and the massive development of shale plays in recent years. The industry’s focus on new technologies and methods to optimize the production cost of hydrocarbons is expected to create several opportunities for the oilfield services (OFS) market in the future.
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Key Highlights of the Drilling Services Market
Geographical Synopsis of the Oilfield Services Market
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Recent Advancements in the Oilfield Services Industry
Related Research and Links
List of Key Players in the Global Oilfield Services Market
*List Not Exhaustive
Mordor Intelligence has segmented the Global Oilfield Services Market based on service type, location of deployment, and geography
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