DUBLIN--(BUSINESS WIRE)--The "Global Oilfield Services (OFS) Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
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.
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 padbased 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.
Key Developments in the 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.
Key Topics Covered
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Supply Chain Analysis
6. Porter's Five Forces Analysis
7. Market Segmentation and Analysis
8. Regional Market Analysis
9. Key Company Profiles
- Baker Hughes Inc.
- Schlumberger Ltd
- FMC Technologies Inc.
10. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/qrzhb2/global_oilfield?w=4