North America 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 North America is expected to grow from US$ 34,957.33 million in 2021 to US$ 52,360.49 million by 2028. It is estimated to grow at a CAGR of 5.9% from 2021 to 2028.
The trapped shale gases cannot easily flow into the well because of the limited permeability of shale rocks. Oil and gas firms use hydraulic fracturing and other stimulation operations to improve the permeability of shale formations and generate trapped shale gases. Shale gas emits less carbon than coal and, therefore, can be a greener energy option in many nations that rely on coal as an energy source. Shale gas production has resulted in a new abundance of natural gas supply. Due to advancements in extraction technology, it is likely to take up the anticipated future.
According to the Energy Information Administration (EIA), the US's unproven theoretically recoverable shale gas potential is estimated to be 482 trillion cubic feet. Shale gas output in the country has surged 12-fold in the previous decade, and the growth is expected to continue until at least 2035. With the development of well-finishing methods such as multistage hydraulic fracturing and drilling techniques, such as long-reach horizontal wellbores, Canada offers long-term possibilities for natural gas supply across the region. Therefore, the continuous growth of shale basins in this region is boosting the growth of the North America oilfield services market.
North America Oilfield Service Market Revenue and Forecast to 2028 (US$ Million)
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North America Oilfield Service Market Segmentation
The North America 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 the US, Canada, and Mexico. The US contributed a substantial share in 2020.
Archer; Baker Hughes Company; Halliburton Energy Services, Inc; Hunting PLC; NOV Inc; Pioneer Energy Services Corp; Schlumberger Limited; Weatherford International plc; and Wireline Services Group are the leading companies in the North America 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. North America Oilfield Service Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America 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 Rising 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 – North America Market Analysis
6.1 North America Oilfield Service Market
6.2 North America Oilfield Service Market Revenue Forecast and Analysis
7. North America Oilfield Service Market – By Application
7.1 Overview
7.2 North America Oilfield service Market, By Application (2020 and 2028)
7.3 Onshore
7.3.1 Overview
7.3.2 Onshore: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Offshore
7.4.1 Overview
7.4.2 Offshore: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Oilfield Service Market – By Service type
8.1 Overview
8.2 North America Oilfield service Market, By Service type (2020 and 2028)
8.3 Well Completion
8.3.1 Overview
8.3.2 Well completion: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Wire line
8.4.1 Overview
8.4.2 Wire line: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Artificial lift
8.5.1 Overview
8.5.2 Artificial lift: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Perforation
8.6.1 Overview
8.6.2 Perforation: North America 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: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Oilfield Service Market – Country Analysis
9.1 North America: Oilfield Service Market
9.1.1 North America: Oilfield Service Market, by Key Country
9.1.1.1 US: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Oilfield Service Market, By Application
9.1.1.1.2 US: Oilfield Service Market, by Service type
9.1.1.2 Canada: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Oilfield Service Market, By Application
9.1.1.2.2 Canada: Oilfield Service Market, by Service type
9.1.1.3 Mexico: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Oilfield Service Market, By Application
9.1.1.3.2 Mexico: 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 Financial Overview
11.6.5 SWOT Analysis
11.6.6 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
11.8 Pioneer Energy Services Corp.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Wireline Services Group
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. North America Oilfield Service Market Revenue and Forecast to 2028 (US$ Million)
Table 2. North America: Oilfield Service Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Oilfield Service Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Oilfield Service Market, by Service type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Oilfield Service Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Oilfield Service Market, by Service type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico: Oilfield Service Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico: Oilfield Service Market, by Service type – Revenue and Forecast to 2028 (US$ Million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Oilfield Service Market Segmentation
Figure 2. North America Oilfield Service Market Segmentation – By Country
Figure 3. North America Oilfield Service Market Overview
Figure 4. North America Oilfield Service Market, By Application
Figure 5. North America Oilfield Service Market, By Service type
Figure 6. North America Oilfield Service Market, By Country
Figure 7. North America – PEST Analysis
Figure 8. North America Oilfield Service Market- Ecosystem Analysis
Figure 9. North America Oilfield Service Market Impact Analysis of Drivers and Restraints
Figure 10. North America Oilfield Service Market Revenue Forecast and Analysis (US$ Million)
Figure 11. North America Oilfield Service Market Revenue Share, by Application (2020 and 2028)
Figure 12. Onshore: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Offshore: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Oilfield Service Market Revenue Share, by Service type (2020 and 2028)
Figure 15. Well completion: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Wire line: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Artificial lift: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Perforation: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Drilling and Completion Fluids: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: North America Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America: Oilfield Service Market, by key Country– Revenue (2020) (US$ Million)
Figure 22. North America: Oilfield Service Market Revenue Share, by Key Country (2020 and 2028)
Figure 23. US: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Canada: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Mexico: Oilfield Service Market – Revenue and Forecast to 2028 (US$ Million)
- Archer
- Baker Hughes Company
- Halliburton Energy Services, Inc
- Hunting PLC
- NOV Inc
- Pioneer Energy Services Corp
- Schlumberger Limited
- Weatherford International plc
- Wireline Services Group
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America 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 North America 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 North America 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