Oilfield Services Market Latest Industry Trends & Forecast to 2017-2022

The oilfield services market is expected to grow at a CAGR of 3.35%, from 2017 to 2022, to reach a market size of USD 125.51 billion by 2022. Increasing shale gas production, growing global E&P spending, and lifting of Iranian oil export sanctions are the major drivers of the oilfield services market.

The oilfield services market is dominated by a few major players that have a wide regional presence and are established brand names. Leading players in the oilfield services market, such as Baker Hughes Incorporated (U.S.), Halliburton Company (U.S.), Schlumberger Limited (U.S.), Weatherford International, PLC (Switzerland), Superior Energy Services, Inc. (U.S.), and GE Oil & Gas (U.K.), have either acquired regional companies or made a joint venture with the ones operating in the oilfield services market to bolster their product portfolio and to enhance their global reach.

Browse 86 Market Data Tables and 113 Figures spread through 248 Pages and in-depth TOC on"Oilfield Services Market by Application (Onshore and Offshore), Service (Well Completion Equipment & Services, Well Intervention Services, Coiled Tubing Services, Pressure Pumping Services, OCTG, and Wireline Services), and Region - Global Forecast to 2022"

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Key Questions

·         How is the current oil price scenario affecting the oilfield services market and what is your view on how the market is expected to perform in the coming years?

·         What are the upcoming technologies that will have a significant impact on the market in the future?

·         What will be the revenue pockets for the market in the next 5 years?

·         Kindly validate the drivers, restraints, opportunities, and challenges of the oilfield services market, and let me know if I am missing anything?

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With regard to the application segment, the offshore segment is expected to constitute the fastest growing market from 2017 to 2022. In terms of market size, the onshore segment would dominate the oilfield services market. Onshore application are quite famous in the Middle East and North America, where maximum number of oilfields are located onshore.

The report segments the oilfield services market, based on services type, into pressure pumping services, OCTG services, wireline services, well completion equipment and services, well intervention services, drilling and completion fluids services, drilling waste management services, and coiled tubing services. The pressure pumping services would account for the maximum share in the oilfield services market. This particular market is expected to grow in the future as a result of shale gas exploration and production activities in North America. Moreover, Asia-Pacific and Africa also present opportunities as offshore exploration activities are on rise in these regions.

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The market in Asia-Pacific is estimated to be the fastest growing market for oilfield services from 2017 to 2022. Increasing offshore exploration activities and shale gas exploration, especially in China and India are driving the demand for oilfield services market in this region. The growing need for oil & gas and the continuing efforts to find new oil & gas reserves are also expected to spur the growth of the market and represents a promising opportunity for major oilfield services providers.

Objectives of the Study

·         To define, describe, and forecast the global oilfield services market by application, services, and region

·         To provide detailed information regarding major factors influencing the growth of the oilfield services market (drivers, restraints, opportunities, and industry-specific challenges related to the market)

·         To strategically analyze the oilfield services market with respect to individual growth trends, future prospects, and contribution of each segment to the market

·         To analyze opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders

·         To forecast the market size of segments with respect to six major regions (along with countries), namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa

·         To strategically profile key players and comprehensively analyze their market shares and core competencies for the oilfield services market

·         To analyze competitive developments such as contracts & agreements, mergers & acquisitions, new product developments, and expansions in the oilfield services market

Shunt Reactor Market Outlook, Growth Trends, Forecast by 2022 Graphical Research

The shunt reactor market is expected to grow at a CAGR of 4.56% from 2017 to 2022, to reach a market size of USD 3.19 billion by 2022. The major drivers of the shunt reactor market include increasing demand for electricity, upgradation of the aging technology, and modernization of the T&D network.

Browse 70 Market Data Tables and 32 Figures spread through 119 Pages and in-depth TOC on "Shunt Reactor Market by Type (Oil-Immersed and Air-Core), Application (Variable Reactors and Fixed Reactors), End-User (Electrical Utilities and Industrial Verticals), and Region (North America, Europe, Asia Pacific, and South America) - Global Forecast to 2022"

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Key companies to provide shunt reactors are GE (US), Siemens (Germany), ABB (Switzerland), Fuji Electric (Japan), Mitsubishi Electric (Japan), CG (India), Nissin Electric (Japan), Zaporozhtransformator (Ukraine), TBEA (China), Toshiba (Japan), and Hilkar (Turkey).

The key players in the shunt reactor market have been indulged in various contracts & agreements to install, construct, develop, or upgrade the shunt reactors. The companies supply shunt reactors to the electric utilities and various industrial verticals. The demand for shunt reactors increases with rise in demand for electricity, which in turn increases the investment in T&D networks, which leads to increase in the shunt reactor market. Thus, contracts & agreements is the major strategy adopted by the companies.

The industrial verticals segment is expected to be the fastest growing segment during the forecast period. The reactive power component enters into the system and reduces the power factor, which is used to measure the efficiency and quality of the power used. Thus, in the industrial vertical segment, the shunt reactors are used to improve the power factor. Growing industrialization in developing countries increases the investment in the T&D infrastructure. The upgradation of the aging technology in various industries leads to rise in investments in the T&D infrastructure which is expected to increase the shunt reactor market during the forecast period. The large investments in the T&D network would create an opportunity for the manufacturers to supply shunt reactors to various private companies.

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The oil-immersed shunt reactor segment is expected to be the fastest growing segment during the forecast period. Oil-immersed shunt reactors are usually utilized for systems with a voltage profile of 72.5 kV and above and are connected directly to the high-voltage busbar/transmission network. Investments in the T&D infrastructure and upgradation of the aging technology are taking place in the developing regions, where the oil-immersed shunt reactors have a high growth. Asia Pacific and North America are estimated to have a decent market growth for oil-immersed shunt reactors.

Cables and Accessories Market is Expected to Exceed More Than $158.25 Billion By 2023 at A CAGR of 5.40%.

The global cables and accessories market is expected to grow at a CAGR of 5.40%, from 2017 to 2022, to reach a market size of USD 158.25 billion by 2022. The increasing demand for electric power worldwide, subsequent investments in installing renewable generation capacity, and rapidly growing industrialization are likely to drive the cables and accessories market during the forecast period.

Browse 128 market data Tables and 47 Figures spread through 196 Pages and in-depth TOC on "Cables and Accessories Market by Voltage (Low, Medium, High), LV by Installation (Overhead (Conductors, Accessories), Underground (PVC, XLPE, Terminations, and Joints)), LV by End-User (Industrial, Renewables), and Region - Global Forecast to 2022"

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The cables and accessories market is dominated by a few major players that are established brand names with a wide regional presence. The leading players in the cables and accessories industry include Prysmian (Italy), Nexans (France), General Cable (US), NKT Cables (Germany), and Sumitomo (Japan).

Renewable segment is estimated to be the fastest-growing demand segments for the low voltage cables and accessories market, by end-user, from 2017 to 2022. This segment is being driven by factors such as government mandates to increase power generation through clean energy that would result in reduction of greenhouse emissions. Increase in number of wind power projects in countries such as Japan, Denmark, Spain, Portugal, among others has led to an increased share of renewable energy in the total power generation globally. 

Target Audience:

The report’s target audience includes:

·         Cable manufacturing companies

·         Consulting companies in the power sector

·         Engineering, procurement, and construction companies in the transmission and distribution sector

·         Government and research organizations

·         Cables and accessories and equipment manufacturers

·         Insulation raw material suppliers

·         Investment banks

·         Power transmission and distribution companies

Based on installation, underground segment is estimated to grow at the fastest rate from 2017 to 2022. This is due to various factors such as protection against bad weather conditions and lightning sparks. Underground lines have less tendency to short circuits and lightning sparks making it less hazardous. Also, underground cables have lesser transmission and distribution losses as they have efficient copper conductors and can operate at lower temperatures compared to overhead lines.  

The share of solar power in renewable segment is estimated to grow at a faster rate from 2017 to 2022. The decreasing costs of solar installations and greenhouse gas emission restrictions are driving the adoption of renewable energy sources for power generation in the commercial, residential, and industrial sectors. Driven by attractive policy incentives, solar PV has emerged as one of the fastest growing renewable energy sources which would drive the low voltage cables and accessories market.

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Objectives of the Study

·         To define, describe, and forecast the cables and accessories market by voltage, LV by installation, LV by end-user, and region

·         To provide detailed information regarding major factors influencing the growth of the cables and accessories market (drivers, restraints, opportunities, and industry-specific challenges)

·         To strategically analyze the cables and accessories market with respect to individual growth trends, future projections, and the contribution of each segment to the market

·         To track and analyze competitive developments such as contracts & agreements, new product launches, expansions and investments, and partnerships and collaborations in the cables and accessories market

·         To profile key players and comprehensively analyze their market ranking and core competencies

Cables and accessories in low voltage segment based on region is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Asia Pacific is projected to grow at the fastest rate from 2017 to 2022 followed by Middle East & Africa and North America. Countries such as China and India are the largest markets and have increased their investments in power sector in the recent past. China accounted for the maximum share in the Asian region in 2016 and is projected to grow at the highest CAGR of 5.47% from 2017 to 2022. Increase in the demand for electricity from residential and commercial sectors and integration of distributed energy resources would have a positive impact on low voltage cables and accessories market in Asia-Pacific. Also, increasing urbanization and industrialization are also the major factors impacting the growth of the low voltage cables and accessories in this region.