Oilfield Services Market Expected to Reach $291.8 Billion by 2019

The report "Oilfield Services Market by Type (Coiled Tubing Services, Completion Equipment & Services, Drilling & Completion Fluids, Drilling Waste Management, OCTG, Pressure Pumping Services, Well Intervention Services and Wireline services), by Geography (Asia-Pacific, Europe,Middle East, Africa, North America and South America) - Global Trends and forecasts to 2019", defines and segments the oilfield services market with the analysis and forecast of the global revenue.

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The Oilfield Services Market is likely to grow moderately in the upcoming years. The long-term drivers of the Oilfield Services Market are well known. The relentless depletion of onshore and shallow-water fields have compelled oil companies to focus on deep-water and unconventional onshore areas where various oilfield services are in demand.

The major drivers for the Oilfield Services Market are the increase in the exploration and production rate, recoverable reserves, and the energy strategy shift through gas and energy security by domestic supply.North America holds major market share in the global Oilfield Services Market. The research and development initiatives by oilfield service companies and the rise in oil prices have assisted the Oilfield Services Market to grow to this level.

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The market has been estimated from the demand side. This report breaks the market into smaller service segments. In order to provide a deeper understanding of the competitive landscape, this report profiles 10 companies in the pressure pumping market.

Global Oilfield Services Market will grow from an estimated value of $166.6 billion in 2014 to $291.8 billion in 2019. This value is expected to grow with a CAGR of 11.9% between 2014 and 2019. North America is expected to lead the global Oilfield Services Market with a share of nearly 52%, in terms of revenue, by the end of 2014.

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