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Oil & Gas Field Services Market: Global Opportunity Analysis and Industry Forecast, 2020-2027
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COVID-19
Pandemic disrupted the entire world and affected many industries.
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An oil field is a tract of land used for extracting petroleum, also known as crude oil, from the ground. Although some contest the exact origin of oil, most consider petroleum a fossil fuel created from dead organic material often found in ancient seabed’s thousands of meters below the surface of the earth. Governments of different countries are initiating different oil & gas related projects, and are significantly investing in this segment of petroleum industries. The major tax breaks at virtually every stage of oil exploration and extraction, including the costs of oil field leases and drilling equipment, which boosts the growth of the oil & gas field services market.
Scope of the report
      Report Metric |                      Details |
 Market size available for years |  2020–2027 |
 Base year considered |  2019 |
 Forecast period |  2020–2027 |
 Forecast unit |  Value (USD) |
 Segments covered |  Type, Application, End User, and Region |
 Regions covered | North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), LAMEA (Brazil, Mexico, and the Rest of LATAM), and the Middle East & Africa |
 Companies covered | Baker Hughes Incorporated, Halliburton Company, Schlumberger Limited, Weatherford International PLC, National Oilwell Varco, Inc., China Oilfield Services Limited (COSL), Superior Energy Services, Inc., TechnipFMC PLC, Trican Well Service Ltd., and Welltec International APS |
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COVID-19 impact analysis
The global market for oil & gas field services is severely impacted by the outbreak of the COVID-19 pandemic. The shutdown of activities of manufacturing and commercial sectors during the pandemic is anticipated to result in temporary downfall in the demand for oil & gas field services. In addition, the activities of the transport sector are on halt and restrictions imposed on oil exploration are likely to decline the growth of the market during the forecast period. Furthermore, owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap. Thus, insufficiency of raw material is expected to hamper the production rate of oil & gas.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
High demand for oil & gas field services is the major factor driving the growth of the global market. Technological advances have broadened service offerings by oil & gas field services providers and improved industry efficiency, which boost the market growth. In addition, exploration and production (E&P) companies are the primary users of oil & gas field services. Thus, expansion of these comprises notably contribute toward the growth of the global market. However, the volatility in the prices of the oil & gas field services is anticipated to hamper the growth of the market during the forecast period.
New product launches to flourish the market
New products that exhibit improved capabilities have been launched by leading market players. In addition, these players have taken necessary steps to improve the accuracy of new products and overall functionality. Furthermore, market players are seeking opportunities to expand their range of oil & gas field services in different segments. Moreover, partnerships, acquisitions, agreements are the key developmental strategy adopted by the manufactures to strengthen their position in the competitive market.
Key segments covered
        Segment |               Subsegment |
 By Service |
|
 By Application |
|
 By Region |
|
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Key benefits of the report
- This study presents the analytical depiction of the global oil and gas field market industry along with the current trends and market estimation to determine the imminent investment pockets.
- The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the oil and gas field market.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
- The report provides a detailed market analysis depending on competitive and how the competition will take shape in coming years.
- This report helps users in comprehending the key product segments and their future.
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.
Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develops analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth and forecasts
Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:
- Chief executives and VPs of leading corporations specific to industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)
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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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