18 C
London
Thursday, July 25, 2024
HomeBusinessAsia-Pacific Oilfield Services Market with Top of Industry Trends 2018-2028

Asia-Pacific Oilfield Services Market with Top of Industry Trends 2018-2028

Date:

Advertisement

spot_img

Related stories

Europe Power Rental Market Size, Share, Growth, Forecast: 2024-2032

The Europe power rental market size is expected to...

Supportive Bras for Every Stage

Introduction The Right Support, Every Step of the Way Puberty Transparent...

Best Product Research Tool for Every Online Seller Should Use

In the fiercely competitive world of e-commerce, success depends...

Horse transportation haulier: How to choose the right partner

When it comes to the travelling needs of your...

Some Ideal Giveaways for Clients and Customers

Any industry relies on the creation of goodwill between...

Increasing oil and gas investments, coupled with rising deep-water projects, are set to propel the Asia-Pacific oilfield services market in the forecast period.

TechSci Research’s report, Asia-Pacific Oilfield Services Market – By Country, Competition, Forecast and Opportunities, 2018-2028,” highlights the key drivers behind this expansion: decreasing oilfield service costs and increasing production output. The region’s growing domestic oil consumption attracts international oilfield service suppliers, with Asia-Pacific accounting for 7,425 thousand barrels per day of oil production compared to the world’s 88,391 thousand barrels per day.

Regulations aimed at reducing air pollution and environmental concerns are pushing for a shift towards gas and away from coal in the energy mix. Supported by government initiatives, exploration and production activities are on the rise, further fueling the growth of the Asia-Pacific oilfield services market.

Within the oilfield equipment and services (OFS) sector, services for processing and separation, particularly for oil, water, and gas treatment, are expected to see significant growth. This expansion is driven by the increasing need to enhance recovery and mitigate environmental impacts. Services for treating water, oil, gas, sediments, and other substances are expected to drive demand for oilfield services in the Asia-Pacific region during the forecast period.

Browse over XX market data Figures spread through 80 Pages and an in-depth TOC on the “Asia-Pacific Oilfield Services Market”

https://www.techsciresearch.com/report/asia-pacific-oilfield-services-market/15476.html


In the Asia-Pacific oilfield services market, services are categorized by type and deployment location. Service types include drilling, completion, production, intervention, and others. Drilling services, dominating the market, are crucial for offshore E&P activities, with a projected significant rise in demand. These services encompass directional drilling, coiled tubing, measurement and logging while drilling, reservoir navigation, casing/liner drilling systems, surface logging, coring, and hole enlargement. Contractual services are typically provided to E&P companies, supporting projects from exploration to production stages. The drilling services market is fueled by increased enhanced oil recovery (EOR) and mature asset growth. Onshore deployment dominates the market due to lower operational costs compared to offshore drilling. With stable oil prices, the number of onshore rigs has been steadily increasing, further emphasizing its cost efficiency.

Major market players in the Asia-Pacific oilfield services market: –

  • Schlumberger Ltd
  • Baker Hughes Co.
  • Halliburton Co.
  • National Oilwell Varco Inc.
  • Weatherford International PLC
  • Petrofac Limited
  • Superior Energy Services Inc.
  • Expro International Group Holdings Ltd.
  • Archer Limited

Download Free Sample Report@

https://www.techsciresearch.com/sample-report.aspx?cid=15476

Customers can also request for 10% free customization on this report.


The Asia-Pacific oilfield services market expands due to declining service costs, boosted production, and tailored packages from major upstream providers. This includes cost-saving techniques like hydraulic fracturing for shale gas extraction. Increased demand from offshore regions further drives this growth, with rising gas reserves and technological advancements enhancing production. Collaboration initiatives and new contracts for mining assets also contribute to industry brightening. Mr. Karan Chechi, Research Director at TechSci Research, anticipates this growth, citing factors like deep-water projects and expanding exploration activities in developing economies like India.

The Asia-Pacific Oilfield Services Market, categorized by service type and deployment location, is projected to thrive, offering valuable insights for investment decisions and identifying emerging trends, drivers, challenges, and opportunities in the sector.

Review More oil and gas Reports:

Enhanced Oil Recovery MarketEnhanced Oil Recovery Market was valued at USD 54.1 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 8.8% through 2029. 

Offshore Drilling MarketOffshore Drilling Market was valued at USD 35.7 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 5.4% through 2029.

Oil Refining MarketOil Refining Market was valued at USD 1521 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 5.4% through 2029.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: sales@techsciresearch.com

Web:  https://www.techsciresearch.com

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

Advertisement

spot_img