Tag Archives: Oilfield Services Market

Demand for Oilfield Services Market to Incur Considerable Upsurge During the Forecast Period: Grand View Research Inc.

The oilfield services market is expected to be valued at USD 139.1 billion by 2025, according to a new report by Grand View Research, Inc. These services are being increasingly implemented owing to the rising demand for energy and the development of new oilfields.

The purpose of oilfield services is to help operators control the subsurface pressures, minimize formation damage, control borehole erosion, and optimize drilling parameters including the penetration rate and hole cleaning. The burgeoning offshore industry, particularly in the Persian Gulf, is anticipated to drive the oilfield services market over the forecast period. However, the adverse environmental effects of E&P activities coupled with strict government regulations are likely to hinder the market growth.

Oilfield Services Market with Analysis, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends and Competitive Market

The oilfield equipment and services (or OFS) industry refers to all products and services associated with the oil and gas exploration and production process, or the upstream energy industry. It includes services such as locating energy sources, energy data management, drilling and formation evaluation, well construction, and production and completion services.

This report titled as Oilfield Services, gives a brief about the comprehensive research and an outline of its growth in the market globally. It states the significant market drivers, trends, limitations and opportunities to give wide-ranging and precise data and also scrutinizes its growth in the overall markets development, which is needed and expected.

Oilfield Services Market Worth $139.1 Billion By 2025

San Francisco, 10 October 2018 – The ****** oilfield services market is expected to be valued at USD 139.1 billion by 2025, according to a new report by Grand View Research, Inc. These services are being increasingly implemented owing to the rising demand for energy and the development of new oilfields.

The purpose of oilfield services is to help operators control the subsurface pressures, minimize formation damage, control borehole erosion, and optimize drilling parameters including the penetration rate and hole cleaning. The burgeoning offshore industry, particularly in the Persian Gulf, is anticipated to drive the oilfield services market over the forecast period. However, the adverse environmental effects of E&P activities coupled with strict government regulations are likely to hinder the market growth.