Europe Oilfield Service Market Forecast to 2028 – COVID-19 Impact and Analysis – by Application (Onshore and Offshore) and Service Type (Well Completion, Wire line, Artificial Lift, Perforation, Drilling and Completion Fluids, and Others)
The oilfield service market in Europe is expected to grow from US$ 18,405.87 million in 2021 to US$ 28,420.32 million by 2028. It is estimated to grow at a CAGR of 6.4% from 2021 to 2028.
The oil & gas sector is witnessing technical improvements in exploration technologies for deep-water drilling activities and project economic viability. Current technological advancements enable oil firms to boost recovery and speed output. Offshore wells can have varying degrees of automation, ranging from essential one-way monitoring to complicated subsurface controls with intelligent completions. Petrobras has established a corporate program to investigate, develop, and apply digital integrated field management (GeDIg) among its production assets, anticipating near-term potential. It has chosen the Carapeba field as a test site, which is a mature field consisting of three wells located in the northeastern portion of the Campos Basin, with automated subsurface sensors installed in the wells.
Cross-disciplinary teams of geoscientists, engineers, operations managers, and financial analysts communicate via remote command centers, boosting teamwork and collaboration while addressing issues quickly. Therefore, oil firms are substantially investing in command centers and remote monitoring to eliminate the need for operation specialists, engineers, and geoscientists to travel to remote oilfields. Oil and gas companies aim to install deep-water analytical technologies while selecting effective information solutions.
Operators are required to modernize their existing offshore infrastructure to exploit data through the analytical technique. For instance, Rockwell Automation cooperated with Schlumberger to develop a production advising system. The digital solution, which combines linked production technology with Schlumberger's oil and gas software, services, and domain experience, helps maximize production by linking upstream operators with essential, real-time analytics and domain insights to decrease deployment risks and costs. Thus, the increasing number of offshore/deep water discoveries is projected to create lucrative opportunities for the oilfield service market in the coming years.
Europe Oilfield Service Market Revenue and Forecast to 2028 (US$ Million)
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Europe Oilfield Service Market Segmentation
The Europe oilfield service market is analyzed on the basis of application, service type, and country. Based on application, the market is bifurcated into onshore and offshore. In 2020, the onshore segment held the largest share in the market.
Based on service type, the market is segmented into well completion, wireline, artificial lift, perforation, drilling and completion fluids, and others. In 2020, the others segment held the largest share in the market.
Similarly, based on country, the market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. The UK contributed a substantial share in 2020.
Archer; Baker Hughes Company; Halliburton Energy Services, Inc; Hunting PLC; NOV Inc; Schlumberger Limited; and Weatherford International plc are the leading companies in the Europe oilfield service market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Oilfield Service Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Europe
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Europe Oilfield Service Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Oil and Gas Production and Exploration (E&P) Activities
5.1.2 Increasing Shale Gas Extraction
5.2 Market Restraints
5.2.1 Volatility in Crude Oil Prices
5.3 Market Opportunities
5.3.1 Increasing Demand of Offshore/Deep-Water Discoveries
5.4 Future Trends
5.4.1 Technological Innovation in Oilfield Service
5.5 Impact Analysis of Drivers And Restraints
6. Oilfield Service – Europe Market Analysis
6.1 Europe Oilfield Service Market
6.2 Europe Oilfield Service Market Revenue Forecast and Analysis
7. Europe Oilfield service Market – By Application
7.1 Overview
7.2 Europe Oilfield service Market, By Application (2020 and 2028)
7.3 Onshore
7.3.1 Overview
7.3.2 Onshore: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Offshore
7.4.1 Overview
7.4.2 Offshore: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
8. Europe Oilfield service Market – By Service type
8.1 Overview
8.2 Europe Oilfield service Market, By Service type (2020 and 2028)
8.3 Well Completion
8.3.1 Overview
8.3.2 Well completion: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Wire line
8.4.1 Overview
8.4.2 Wire line: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Artificial lift
8.5.1 Overview
8.5.2 Artificial lift: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Perforation
8.6.1 Overview
8.6.2 Perforation: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Drilling and Completion Fluids
8.7.1 Overview
8.7.2 Drilling and Completion Fluids: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
9. Europe Oilfield service Market – Country Analysis
9.1 Overview
9.1.1 Europe: Oilfield Service Market, by Key Country
9.1.1.1 Germany: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Germany: Oilfield Service Market, By Application
9.1.1.1.2 Germany: Oilfield Service Market, by Service type
9.1.1.2 UK: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 UK: Oilfield Service Market, By Application
9.1.1.2.2 UK: Oilfield Service Market, by Service type
9.1.1.3 France: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 France: Oilfield Service Market, By Application
9.1.1.3.2 France: Oilfield Service Market, by Service type
9.1.1.4 Italy: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Italy: Oilfield Service Market, By Application
9.1.1.4.2 Italy: Oilfield Service Market, by Service type
9.1.1.5 Russia: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 Russia: Oilfield Service Market, By Application
9.1.1.5.2 Russia: Oilfield Service Market, by Service type
9.1.1.6 Rest of Europe: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Europe: Oilfield Service Market, By Application
9.1.1.6.2 Rest of Europe: Oilfield Service Market, by Service type
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Merger and Acquisition
10.4 New Development
11. Company Profiles
11.1 Archer
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Baker Hughes Company
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Halliburton Energy Services, Inc.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Hunting PLC
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 NOV Inc.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Schlumberger Limited
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4
11.6.5 Financial Overview
11.6.6 SWOT Analysis
11.6.7 Key Developments
11.7 Weatherford International plc
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Europe Oilfield Service Market Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe: Oilfield Service Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany: Oilfield Service Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: Oilfield Service Market, by Service type – Revenue and Forecast to 2028 (US$ Million)
Table 5. UK: Oilfield Service Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. UK: Oilfield Service Market, by Service type – Revenue and Forecast to 2028 (US$ Million)
Table 7. France: Oilfield Service Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. France: Oilfield Service Market, by Service type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Italy: Oilfield Service Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 10. Italy: Oilfield Service Market, by Service type – Revenue and Forecast to 2028 (US$ Million)
Table 11. Russia: Oilfield Service Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 12. Russia: Oilfield Service Market, by Service type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Europe: Oilfield Service Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of Europe: Oilfield Service Market, by Service type – Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Oilfield Service Market Segmentation
Figure 2. Europe Oilfield Service Market Segmentation – By Country
Figure 3. Europe Oilfield Service Market Overview
Figure 4. Europe Oilfield Service Market, By Application
Figure 5. Europe Oilfield Service Market, By Service type
Figure 6. Europe Oilfield Service Market, By Country
Figure 7. Europe – PEST Analysis
Figure 8. Europe Oilfield Service Market- Ecosystem Analysis
Figure 9. Oilfield Service Market Impact Analysis of Drivers and Restraints
Figure 10. Europe Oilfield Service Market Revenue Forecast and Analysis (US$ Million)
Figure 11. Europe Oilfield Service Market Revenue Share, by Application (2020 and 2028)
Figure 12. Onshore: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Offshore: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Europe Oilfield Service Market Revenue Share, by Service type (2020 and 2028)
Figure 15. Well completion: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Wire line: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Artificial lift: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Perforation: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Drilling and Completion Fluids: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: Europe Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Europe: Oilfield Service Market, by key Country – Revenue (2020) (US$ Million)
Figure 22. Europe: Oilfield Service Market Revenue Share, by Key Country (2020 and 2028)
Figure 23. Germany: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. UK: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. France: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Italy: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Russia: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Rest of Europe: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
- Archer
- Baker Hughes Company
- Halliburton Energy Services, Inc
- Hunting PLC
- NOV Inc
- Schlumberger Limited
- Weatherford International plc
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe Oilfield Service Market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Europe Oilfield Service Market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving Oilfield Service Market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution