Drilling services is a key service component of the oil & gas exploration and production life cycle. Drilling services include solutions for drilling wells in a safe, fast, and optimized way by increasing drilling efficiency and ....see more
The global hydraulic fracturing market is projected to reach USD 74.4 billion by 2028; it is expected to record a CAGR of 7.4% during the forecast period. Some of the major players in the hydraulic fracturing market are Halliburton (US), SLB (US), Liberty Oilfield Services LLC (US), Baker Hughes (US), and NexTier Oilfield Solutions (US). The major strategies adopted by these players include acquisitions, contracts, agreements, and expansions.
The global well testing services market is expected to grow from USD 6.4 billion in 2021 to USD 8.8 billion by 2026, at a compound annual growth rate (CAGR) of 6.4% during the forecast period.The leading players Schlumberger (US), Halliburton (US), EXPRO Group (UK), Baker Hughes (US) and Weatherford (US).
The global hydraulic workover unit market is projected to be reach USD 11.0 billion by 2025, at a post-COVID-19 CAGR of 6.3% during the forecast period. Some of the key players are Halliburton (US), Velesto Energy (Malaysia), Superior Energy Services (US), Basic Energy Services (US), Precision Drilling (Canada). The leading players are adopting various strategies to increase their share in the hydraulic workover unit market.
The Oilfield Integrity Management Market is expected to grow from USD 12.8 billion in 2020 to USD 18.8 billion by 2025, at a CAGR of 8.1% during the forecast period. The oilfield integrity management market is dominated by a few global players, mainly from the North American region. The key players in the oilfield integrity management market include companies such as Schlumberger (US), Halliburton (US), Baker Hughes Company (US), Siemens (Germany), Emerson (US), IBM (US), and Oracle (US).
The global enhanced oil recovery market size is expected to grow USD 59.4 billion by 2025, at a CAGR of 6.5% during the forecast period. Some of the key players are Schlumberger (US), Halliburton (US), Baker Hughes Company (US), Royal Dutch Shell Plc (Netherlands), BP Plc(UK). The leading players are adopting various strategies to increase their share in the enhanced oil recovery market.
The Coiled Tubing Market is expected to grow from USD 3.0 billion in 2020 to USD 4.0 billion by 2025, at a CAGR of 5.8% during the forecast period. Some of the key players are Schlumberger (US), Halliburton (US), NexTier Oilfield Solutions (US), Weatherford (Switzerland), and Baker Hughes (US). The leading players are adopting various strategies to increase their share in the coiled tubing industry. New product launches, and contracts & agreements have been a widely adopted strategy by the major players in the coiled tubing market.
The global intelligent completion market is estimated to be USD 1.61 billion in 2018 and is projected to reach USD 2.16 billion by 2023, at a CAGR of 6.05%. Increase in production of oil & gas wells and improved economical and operational benefits are the major drivers of the intelligent completion market. To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the intelligent completion market. The key players in the market are Schlumberger (US), Halliburton (US), BHGE (US), Weatherford (US), and National Oilwell Varco (US). These leading players are trying to expand in developing economies and are adopting various strategies to increase their market shares.
The global drilling and completion fluids market is projected to reach a market size of USD 12.76 Billion in 2023 from an estimated USD 9.62 Billion in 2018, at a CAGR of 5.82% during the forecast period. This growth can be primarily attributed to the increase in drilling activities for onshore and offshore, and rise in shale gas exploration. To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the drilling and completion fluids market. These players include BHGE (US), Halliburton (US), Schlumberger (US), Canada Energy Services (Canada), and Newpark Resources (US). The leading players are trying to make inroads in the market in the developed economies and are adopting various strategies to increase their market shares.
The global AI in Oil & Gas market is expected to grow at a CAGR of 12.66%, from 2017 to 2022, to reach a projected USD 2.85 Billion by 2022. The growth will be mainly driven by the rise in adoption of the big data technology, digitalization of the Oil & Gas industry, investments in AI-related start-ups, and rising pressure to reduce production costs and increase efficiency. To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in AI in the Oil & Gas market. They are IBM (US), Accenture (Republic of Ireland), Google (US), Microsoft Corporation (US), and Oracle (US). These players adopted various strategies such as new product launches, contracts & agreements, and investments and expansions, to increase their global presence and market share.
The North American pressure pumping market was expected to grow from an estimated USD 26.29 Billion in 2016 to USD 29.94 Billion by 2021, at a CAGR of 2.6%. The North American pressure pumping market is set to witness growth, due to increased fracturing and re-fracturing activities in the U.S. as well as Canada and the auction of shale fields in Mexico in 2017.
The global wireline services market is projected to grow at a CAGR of 2.1% from 2016 to 2021, to reach a market size of USD 9.15 Billion by 2021. This growth is attributed to increasing oil production and maturing oilfields. The report segments the wireline market on the basis of hole type into cased-hole and open hole. The cased-hole segment is projected to dominate the wireline services market and is expected to grow at the highest CAGR from 2016 to 2021.
The global managed pressure drilling services market is projected to witness high growth on account of growing need for optimized drilling processes and safe & effective operational aspects of managed pressure drilling. The global market is estimated to be USD 3.81 Billion in 2016, and is projected to reach USD 4.60 Billion by 2021, at a CAGR of 3.8% from 2016 to 2021. Deepwater drilling in Africa and Latin America is expected to boost the demand for managed pressure drilling services during the forecast period. The North American market is also projected to grow at a moderate pace, aided by large-scale spending for the development of unconventional resources, such as shale plays, where managed pressure drilling is used to access difficult formation and drill wells in the most economical way.
The growing global energy demand has resulted in a rise in oil & gas production in regions such as North America and the Middle East, leading to an increase in exploration & production (E&P) activities in these regions. Drilling activity plays a crucial role in oil & gas E&P. The rise in drilling activities has resulted in an increasing amount of waste produced while drilling.
The global drilling waste management market is estimated to be USD 3.80 Billion in 2015, and is projected to reach USD 5.08 Billion by 2020. The market is projected to grow at a CAGR of 6.0% from 2015 to 2020. Rapid technological developments improving the drilling and production capability aid exploration and production activities in the deep-water and ultra-deep-water areas across the globe. These factors boost the drilling waste management market.