Energy Transition Growth Opportunities for Oil and Gas (O&G) Service Companies, 2023

Energy Transition Growth Opportunities for Oil and Gas (O&G) Service Companies, 2023

Transformative Mega Trends and Decarbonization Goals Drive Corporate Strategies Toward Sustainability

RELEASE DATE
10-Nov-2023
REGION
Global
Research Code: K91E-01-00-00-00
SKU: EG_2023_294
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Description

Energy transition, which refers to the shift from fossil fuel-based systems to zero-carbon solutions, is a complex process for the global energy industry, including suppliers and users. Timelines for eliminating carbon from energy systems vary by region, but most goals—including the Paris Agreement—focus on achieving net zero by the second half of the 21st century.

O&G service and solution companies are at the forefront of change and driving innovation to bring new decarbonization solutions to markets worldwide. The O&G industry has a major negative environmental impact because of its production and use of fossil fuels and the high volume of carbon emissions produced from daily activities. The industry is under pressure to transform by finding ways to address global energy demand growth while reducing its environmental toll.

In this report, Frost & Sullivan studies the innovations and strategies of major O&G service companies around six key pillars of the energy transition: automation; renewable energy; hydrogen production; carbon capture, utilization, and storage; process electrification; and emissions management. We assess the global energy transition in the following regions: the Americas, Europe, the Middle East and Africa, Asia-Pacific, and the Rest of the World. The study period is 2020–2030, and the forecast period is 2023–2030, using 2022 as the base year.

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Energy Transition in the Global O&G Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Energy Transition Pillars

Energy Transition Progress by Key Growth Pillar

Energy Transition Progress by Key Region

Energy Transition Progress by Company

Transition Pillar 1—Emissions Management

Transition Pillar 1—Emissions Management (continued)

Transition Pillar 1—Emissions Management (continued)

Transition Pillar 2—Automation

Transition Pillar 2—Automation (continued)

Transition Pillar 2—Automation (continued)

Transition Pillar 3—Electrification

Transition Pillar 3—Electrification (continued)

Transition Pillar 3—Electrification (continued)

Transition Pillar 4—Renewable Energy

Transition Pillar 4—Renewable Energy (continued)

Transition Pillar 4—Renewable Energy (continued)

Transition Pillar 5—Hydrogen

Transition Pillar 5—Hydrogen (continued)

Transition Pillar 5—Hydrogen (continued)

Transition Pillar 5—Hydrogen (continued)

Transition Pillar 6—CCUS

Transition Pillar 6—CCUS (continued)

Transition Pillar 6—CCUS (continued)

Transition Pillar 6—CCUS (continued)

Halliburton

Halliburton (continued)

Halliburton (continued)

Baker Hughes

Baker Hughes (continued)

Baker Hughes (continued)

SLB

SLB (continued)

SLB (continued)

Emerson

Emerson (continued)

Emerson (continued)

ABB

ABB (continued)

ABB (continued)

Honeywell

Honeywell (continued)

Honeywell (continued)

Rockwell Automation

Rockwell Automation (continued)

Rockwell Automation (continued)

Saipem

Saipem (continued)

Saipem (continued)

Growth Opportunity 1: PEMS for Emissions Management

Growth Opportunity 1: PEMS for Emissions Management (continued)

Growth Opportunity 2: Automation Technologies Applied to Drilling Process for Efficiency Optimization

Growth Opportunity 2: Automation Technologies Applied to Drilling Process for Efficiency Optimization (continued)

Growth Opportunity 3: Floating Wind Farms for Offshore Electrification

Growth Opportunity 3: Floating Wind Farms for Offshore Electrification (continued)

Growth Opportunity 4: Floating Solar Energy

Growth Opportunity 4: Floating Solar Energy (continued)

Growth Opportunity 5: DAC as a Carbon Capture Alternative

Growth Opportunity 5: DAC as a Carbon Capture Alternative (continued)

Growth Opportunity 6: Advanced Electrolysis for Hydrogen Scalability

Growth Opportunity 6: Advanced Electrolysis for Hydrogen Scalability (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

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Energy transition, which refers to the shift from fossil fuel-based systems to zero-carbon solutions, is a complex process for the global energy industry, including suppliers and users. Timelines for eliminating carbon from energy systems vary by region, but most goals including the Paris Agreement focus on achieving net zero by the second half of the 21st century. O&G service and solution companies are at the forefront of change and driving innovation to bring new decarbonization solutions to markets worldwide. The O&G industry has a major negative environmental impact because of its production and use of fossil fuels and the high volume of carbon emissions produced from daily activities. The industry is under pressure to transform by finding ways to address global energy demand growth while reducing its environmental toll. In this report, Frost & Sullivan studies the innovations and strategies of major O&G service companies around six key pillars of the energy transition: automation; renewable energy; hydrogen production; carbon capture, utilization, and storage; process electrification; and emissions management. We assess the global energy transition in the following regions: the Americas, Europe, the Middle East and Africa, Asia-Pacific, and the Rest of the World. The study period is 2020 2030, and the forecast period is 2023 2030, using 2022 as the base year.
More Information
Author Agustina DeSarriera
Industries Energy
No Index No
Is Prebook No
Podcast No
WIP Number K91E-01-00-00-00