Impact of Low Oil Price on Oilfield Equipment and Service Market, 2017

Impact of Low Oil Price on Oilfield Equipment and Service Market, 2017

The Oilfield Service and Equipment Market Experienced a Double-dip Negative Growth in 2015 and 2016, but is Expected to Rebound with the Recovery of Oil Prices

RELEASE DATE
01-Feb-2018
REGION
Global
Deliverable Type
Market Research
Research Code: K257-01-00-00-00
SKU: EG01856-GL-MR_21528
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Description

The global oilfield services and equipment market is still recovering from the 2015 oil price crash, as oil companies are still trying to consolidate their position by reevaluating their capital expenditure. The oilfield services and equipment market has four main segments - drilling, completion, capital equipment, and production. While some segments like completion are recovering well, others like drilling are yet to show positive growth. As unconventional resources are very expensive to explore, many rigs across the globe have been idle. The huge backlog has led to deferred credits, which affect the bottom lines of oilfields equipment and service companies.
The study aims to analyze and forecast the impact of low oil prices on the oilfield services and equipment market, 2017.

Research Scope

  • Segmentation and sub-segmentation of various oilfield services
  • Market trends (revenue estimation for each segment and sub-segment)
  • Market share analysis of various oilfield services and equipment
  • Long-term growth trend of each segment and sub-segment

Market measurements are analyzed from 2010 to 2017, with 2016 being the base year. The revenue estimation for each sub-segment is obtained from annual reports and analyses of various drivers and restraints. As the study addresses the short-term impact of oil prices on oilfield equipment, revenue growth has been forecast only for 2017. Only segments that are critical for operation and have significant market share have been considered for study. An indexing method has been used to observe the trends in various oilfield segments, based on which an impact assessment has been made. The study also covers the market share analysis to identify the changing dynamics of the competitive structure. Lastly, based on the analysis, the growth opportunities of key segments are evaluated and the strategic imperatives for success are identified.


Key Issues Addressed

  • What is the status of the global oilfield equipment and services market?
  • How has the market share evolved for various oilfield segments?
  • What is the impact of oil prices on various oilfield segments and sub-segments?
  • What are the major trends observed in various oilfield segments in 2017?
  • What are the emerging regions for various oilfield services and equipment?

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Key Findings

Scope and Segmentation

Trends in Historical Oil Prices for WTI and Brent

Global Total Rig Count versus Benchmark Crude Oil Price

Impact of Low Oil Price in Oilfield Equipment—Regional Rig Count Summary

Key Predictions for Oil and Gas Numbers in 2017

Oilfield Services

Market Segmentation of Oilfield Equipment and Services

Impact of Low Oil Price—Offshore Contract Drilling

Impact of Low Oil Price—Land Contract Drilling

Impact of Low Oil Price—Directional Drilling Services

Impact of Low Oil Price—Logging While Drilling (LWD)

Impact of Low Oil Price—Casing and Tubing

Impact of Low Oil Price—Surface Data Logging

Impact of Low Oil Price—Hydraulic Fracturing

Impact of Low Oil Price—Wireline Logging

Impact of Low Oil Price—Subsea Equipment

Impact of Low Oil Price—Surface Equipment

Impact of Low Oil Price—Completion Equipment

Impact of Low Oil Price—Coiled Tubing Services

Impact of Low Oil Price—Offshore Construction

Impact of Low Oil Price—Rig Equipment

Impact of Low Oil Price—Downhole Drilling Tools

Impact of Low Oil Price—Artificial Lifts

Growth Opportunity 1—Hydraulic Fracturing

Strategic Imperatives for Success and Growth

Growth Opportunity 2—Directional Drilling

Strategic Imperatives for Success and Growth

Conclusion

Legal Disclaimer

List of Exhibits

Abbreviations and Acronyms Used

List of Figures
  • 1. Oil and Gas Industry: Natural Gas Price, Global, 2016 and 2017
List of Charts
  • 1. Oilfield Equipment and Services Market: Benchmark Crude Oil Prices, Global, 2014–2017
  • 2. Oilfield Equipment and Services Market: Average Rig Count versus Oil Price, Global, 2016–2017
  • 3. Oilfield Equipment and Services Market: Regional Average Rig Count, Global, 2015–2017
  • 4. Oilfield Equipment and Services Market: Oilfield Services Market Share, Global, 2016
  • 5. Oilfield Equipment and Services Market: Offshore Contract Drilling Revenue Forecast, Global, 2010–2017
  • 6. Oilfield Equipment and Services Market: Offshore Contract Drilling Index, Global, 2005–2017
  • 7. Oilfield Equipment and Services Market: Offshore Contract Drilling Market Share, Global, 2005
  • 8. Oilfield Equipment and Services Market: Offshore Contract Drilling Market Share, Global, 2016
  • 9. Oilfield Equipment and Services Market: Land Contract Drilling Revenue Forecast, Global, 2010–2017
  • 10. Oilfield Equipment and Services Market: Land Contract Drilling Index, Global, 2005–2017
  • 11. Oilfield Equipment and Services Market: Land Contract Drilling Market Share, Global, 2005
  • 12. Oilfield Equipment and Services Market: Land Contract Drilling Market Share, Global, 2016
  • 13. Oilfield Equipment and Services Market: Directional Drilling Services Revenue Forecast, Global, 2010–2017
  • 14. Oilfield Equipment and Services Market: Directional Drilling Services Index, Global, 2005–2017
  • 15. Oilfield Equipment and Services Market: Directional Drilling Services Market Share, Global, 2005
  • 16. Oilfield Equipment and Services Market: Directional Drilling Services Market Share, Global, 2016
  • 17. Oilfield Equipment and Services Market: Logging While Drilling Revenue Forecast, Global, 2010–2017
  • 18. Oilfield Equipment and Services Market: Logging While Drilling Index, Global, 2005–2017
  • 19. Oilfield Equipment and Services Market: Logging While Drilling Market Share, Global, 2005
  • 20. Oilfield Equipment and Services Market: Logging While Drilling Market Share, Global, 2016
  • 21. Oilfield Equipment and Services Market: Casing and Tubing Revenue Forecast, Global, 2010–2017
  • 22. Oilfield Equipment and Services Market: Casing and Tubing Index, Global, 2005–2017
  • 23. Oilfield Equipment and Services Market: Casing and Tubing Market Share, Global, 2005
  • 24. Oilfield Equipment and Services Market: Casing and Tubing Market Share, Global, 2016
  • 25. Oilfield Equipment and Services Market: Surface Data Logging Revenue Forecast, Global, 2010–2017
  • 26. Oilfield Equipment and Services Market: Surface Data Logging Index, Global, 2005–2017
  • 27. Oilfield Equipment and Services Market: Surface Data Logging Market Share, Global, 2005
  • 28. Oilfield Equipment and Services Market: Surface Data Logging Market Share, Global, 2016
  • 29. Oilfield Equipment and Services Market: Hydraulic Fracturing Revenue Forecast, Global, 2010–2017
  • 30. Oilfield Equipment and Services Market: Hydraulic Fracturing Index, Global, 2005–2017
  • 31. Oilfield Equipment and Services Market: Hydraulic Fracturing Market Share, Global, 2005
  • 32. Oilfield Equipment and Services Market: Hydraulic Fracturing Market Share, Global, 2016
  • 33. Oilfield Equipment and Services Market: Wireline Logging Revenue Forecast, Global, 2010–2017
  • 34. Oilfield Equipment and Services Market: Wireline Logging Index, Global, 2005–2017
  • 35. Oilfield Equipment and Services Market: Wireline Logging Market Share, Global, 2005
  • 36. Oilfield Equipment and Services Market: Wireline Logging Market Share, Global, 2016
  • 37. Oilfield Equipment and Services Market: Subsea Equipment Revenue Forecast, Global, 2010–2017
  • 38. Oilfield Equipment and Services Market: Subsea Equipment Index, Global, 2005–2017
  • 39. Oilfield Equipment and Services Market: Subsea Equipment Market Share, Global, 2005
  • 40. Oilfield Equipment and Services Market: Subsea Equipment Market Share, Global, 2016
  • 41. Oilfield Equipment and Services Market: Surface Equipment Revenue Forecast, Global, 2010–2017
  • 42. Oilfield Equipment and Services Market: Surface Equipment Index, Global, 2005–2017
  • 43. Oilfield Equipment and Services Market: Surface Equipment Market Share, Global, 2005
  • 44. Oilfield Equipment and Services Market: Surface Equipment Market Share, Global, 2016
  • 45. Oilfield Equipment and Services Market: Completion Equipment Revenue Forecast, Global, 2010–2017
  • 46. Oilfield Equipment and Services Market: Completion Equipment Index, Global, 2005–2017
  • 47. Oilfield Equipment and Services Market: Completion Equipment Market Share, Global, 2005
  • 48. Oilfield Equipment and Services Market: Completion Equipment Market Share, Global, 2016
  • 49. Oilfield Equipment and Services Market: Coiled Tubing Services Revenue Forecast, Global, 2010–2017
  • 50. Oilfield Equipment and Services Market: Coiled Tubing Index, Global, 2005–2017
  • 51. Oilfield Equipment and Services Market: Coiled Tubing Market Share, Global, 2005
  • 52. Oilfield Equipment and Services Market: Coiled Tubing Market Share, Global, 2016
  • 53. Oilfield Equipment and Services Market: Offshore Construction Revenue Forecast, Global, 2010–2017
  • 54. Oilfield Equipment and Services Market: Offshore Construction Index, Global, 2005–2017
  • 55. Oilfield Equipment and Services Market: Offshore Construction Market Share, Global, 2005
  • 56. Oilfield Equipment and Services Market: Offshore Construction Market Share, Global, 2016
  • 57. Oilfield Equipment and Services Market: Rig Equipment Revenue Forecast, Global, 2010–2017
  • 58. Oilfield Equipment and Services Market: Rig Equipment Index, Global, 2005–2017
  • 59. Oilfield Equipment and Services Market: Rig Equipment Market Share, Global, 2005
  • 60. Oilfield Equipment and Services Market: Rig Equipment Market Share, Global, 2016
  • 61. Oilfield Equipment and Services Market: Downhole Drilling Tools Revenue Forecast, Global, 2010–2017
  • 62. Oilfield Equipment and Services Market: Downhole Drilling Tool Index, Global, 2005–2017
  • 63. Oilfield Equipment and Services Market: Downhole Drilling Tools Market Share, Global, 2005
  • 64. Oilfield Equipment and Services Market: Downhole Drilling Tools Market Share, Global, 2016
  • 65. Oilfield Equipment and Services Market: Artificial Lifts Revenue Forecast, Global, 2010–2017
  • 66. Oilfield Equipment and Services Market: Artificial Lifts Index, Global, 2005–2017
  • 67. Oilfield Equipment and Services Market: Artificial Lifts Market Share, Global, 2005
  • 68. Oilfield Equipment and Services Market: Artificial Lifts Market Share, Global, 2016
The global oilfield services and equipment market is still recovering from the 2015 oil price crash, as oil companies are still trying to consolidate their position by reevaluating their capital expenditure. The oilfield services and equipment market has four main segments - drilling, completion, capital equipment, and production. While some segments like completion are recovering well, others like drilling are yet to show positive growth. As unconventional resources are very expensive to explore, many rigs across the globe have been idle. The huge backlog has led to deferred credits, which affect the bottom lines of oilfields equipment and service companies. The study aims to analyze and forecast the impact of low oil prices on the oilfield services and equipment market, 2017.--BEGIN PROMO--

Research Scope

  • Segmentation and sub-segmentation of various oilfield services
  • Market trends (revenue estimation for each segment and sub-segment)
  • Market share analysis of various oilfield services and equipment
  • Long-term growth trend of each segment and sub-segment

Market measurements are analyzed from 2010 to 2017, with 2016 being the base year. The revenue estimation for each sub-segment is obtained from annual reports and analyses of various drivers and restraints. As the study addresses the short-term impact of oil prices on oilfield equipment, revenue growth has been forecast only for 2017. Only segments that are critical for operation and have significant market share have been considered for study. An indexing method has been used to observe the trends in various oilfield segments, based on which an impact assessment has been made. The study also covers the market share analysis to identify the changing dynamics of the competitive structure. Lastly, based on the analysis, the growth opportunities of key segments are evaluated and the strategic imperatives for success are identified.

More Information
Deliverable Type Market Research
No Index No
Podcast No
Table of Contents | Executive Summary~ || Key Findings~ | Market Overview~ || Scope and Segmentation~ || Trends in Historical Oil Prices for WTI and Brent~ || Global Total Rig Count versus Benchmark Crude Oil Price~ || Impact of Low Oil Price in Oilfield Equipment—Regional Rig Count Summary~ || Key Predictions for Oil and Gas Numbers in 2017~ || Oilfield Services~ || Market Segmentation of Oilfield Equipment and Services~ | Impact of Low Oil Price—Drilling Segment~ || Impact of Low Oil Price—Offshore Contract Drilling~ || Impact of Low Oil Price—Land Contract Drilling~ || Impact of Low Oil Price—Directional Drilling Services~ || Impact of Low Oil Price—Logging While Drilling (LWD)~ || Impact of Low Oil Price—Casing and Tubing~ || Impact of Low Oil Price—Surface Data Logging~ | Impact of Low Oil Price—Completion Segment~ || Impact of Low Oil Price—Hydraulic Fracturing~ || Impact of Low Oil Price—Wireline Logging~ || Impact of Low Oil Price—Subsea Equipment~ || Impact of Low Oil Price—Surface Equipment~ || Impact of Low Oil Price—Completion Equipment~ || Impact of Low Oil Price—Coiled Tubing Services~ | Impact of Low Oil Price—Capital Equipment~ || Impact of Low Oil Price—Offshore Construction~ || Impact of Low Oil Price—Rig Equipment~ || Impact of Low Oil Price—Downhole Drilling Tools~ | Impact of Low Oil Price—Production Equipment~ || Impact of Low Oil Price—Artificial Lifts~ | Growth Opportunities and Companies to Action~ || Growth Opportunity 1—Hydraulic Fracturing~ || Strategic Imperatives for Success and Growth~ || Growth Opportunity 2—Directional Drilling~ || Strategic Imperatives for Success and Growth~ | Conclusion~ || Conclusion~ || Legal Disclaimer~ | Appendix~ || List of Exhibits~ || Abbreviations and Acronyms Used~ | The Frost & Sullivan Story~
List of Charts and Figures 1. Oil and Gas Industry: Natural Gas Price, Global, 2016 and 2017~| 1. Oilfield Equipment and Services Market: Benchmark Crude Oil Prices, Global, 2014–2017~ 2. Oilfield Equipment and Services Market: Average Rig Count versus Oil Price, Global, 2016–2017~ 3. Oilfield Equipment and Services Market: Regional Average Rig Count, Global, 2015–2017 ~ 4. Oilfield Equipment and Services Market: Oilfield Services Market Share, Global, 2016~ 5. Oilfield Equipment and Services Market: Offshore Contract Drilling Revenue Forecast, Global, 2010–2017 ~ 6. Oilfield Equipment and Services Market: Offshore Contract Drilling Index, Global, 2005–2017~ 7. Oilfield Equipment and Services Market: Offshore Contract Drilling Market Share, Global, 2005~ 8. Oilfield Equipment and Services Market: Offshore Contract Drilling Market Share, Global, 2016~ 9. Oilfield Equipment and Services Market: Land Contract Drilling Revenue Forecast, Global, 2010–2017 ~ 10. Oilfield Equipment and Services Market: Land Contract Drilling Index, Global, 2005–2017~ 11. Oilfield Equipment and Services Market: Land Contract Drilling Market Share, Global, 2005~ 12. Oilfield Equipment and Services Market: Land Contract Drilling Market Share, Global, 2016~ 13. Oilfield Equipment and Services Market: Directional Drilling Services Revenue Forecast, Global, 2010–2017 ~ 14. Oilfield Equipment and Services Market: Directional Drilling Services Index, Global, 2005–2017~ 15. Oilfield Equipment and Services Market: Directional Drilling Services Market Share, Global, 2005~ 16. Oilfield Equipment and Services Market: Directional Drilling Services Market Share, Global, 2016~ 17. Oilfield Equipment and Services Market: Logging While Drilling Revenue Forecast, Global, 2010–2017 ~ 18. Oilfield Equipment and Services Market: Logging While Drilling Index, Global, 2005–2017~ 19. Oilfield Equipment and Services Market: Logging While Drilling Market Share, Global, 2005~ 20. Oilfield Equipment and Services Market: Logging While Drilling Market Share, Global, 2016~ 21. Oilfield Equipment and Services Market: Casing and Tubing Revenue Forecast, Global, 2010–2017 ~ 22. Oilfield Equipment and Services Market: Casing and Tubing Index, Global, 2005–2017~ 23. Oilfield Equipment and Services Market: Casing and Tubing Market Share, Global, 2005~ 24. Oilfield Equipment and Services Market: Casing and Tubing Market Share, Global, 2016~ 25. Oilfield Equipment and Services Market: Surface Data Logging Revenue Forecast, Global, 2010–2017 ~ 26. Oilfield Equipment and Services Market: Surface Data Logging Index, Global, 2005–2017~ 27. Oilfield Equipment and Services Market: Surface Data Logging Market Share, Global, 2005~ 28. Oilfield Equipment and Services Market: Surface Data Logging Market Share, Global, 2016~ 29. Oilfield Equipment and Services Market: Hydraulic Fracturing Revenue Forecast, Global, 2010–2017 ~ 30. Oilfield Equipment and Services Market: Hydraulic Fracturing Index, Global, 2005–2017~ 31. Oilfield Equipment and Services Market: Hydraulic Fracturing Market Share, Global, 2005~ 32. Oilfield Equipment and Services Market: Hydraulic Fracturing Market Share, Global, 2016~ 33. Oilfield Equipment and Services Market: Wireline Logging Revenue Forecast, Global, 2010–2017 ~ 34. Oilfield Equipment and Services Market: Wireline Logging Index, Global, 2005–2017~ 35. Oilfield Equipment and Services Market: Wireline Logging Market Share, Global, 2005~ 36. Oilfield Equipment and Services Market: Wireline Logging Market Share, Global, 2016~ 37. Oilfield Equipment and Services Market: Subsea Equipment Revenue Forecast, Global, 2010–2017 ~ 38. Oilfield Equipment and Services Market: Subsea Equipment Index, Global, 2005–2017~ 39. Oilfield Equipment and Services Market: Subsea Equipment Market Share, Global, 2005~ 40. Oilfield Equipment and Services Market: Subsea Equipment Market Share, Global, 2016~ 41. Oilfield Equipment and Services Market: Surface Equipment Revenue Forecast, Global, 2010–2017 ~ 42. Oilfield Equipment and Services Market: Surface Equipment Index, Global, 2005–2017~ 43. Oilfield Equipment and Services Market: Surface Equipment Market Share, Global, 2005~ 44. Oilfield Equipment and Services Market: Surface Equipment Market Share, Global, 2016~ 45. Oilfield Equipment and Services Market: Completion Equipment Revenue Forecast, Global, 2010–2017 ~ 46. Oilfield Equipment and Services Market: Completion Equipment Index, Global, 2005–2017~ 47. Oilfield Equipment and Services Market: Completion Equipment Market Share, Global, 2005~ 48. Oilfield Equipment and Services Market: Completion Equipment Market Share, Global, 2016~ 49. Oilfield Equipment and Services Market: Coiled Tubing Services Revenue Forecast, Global, 2010–2017 ~ 50. Oilfield Equipment and Services Market: Coiled Tubing Index, Global, 2005–2017~ 51. Oilfield Equipment and Services Market: Coiled Tubing Market Share, Global, 2005~ 52. Oilfield Equipment and Services Market: Coiled Tubing Market Share, Global, 2016~ 53. Oilfield Equipment and Services Market: Offshore Construction Revenue Forecast, Global, 2010–2017 ~ 54. Oilfield Equipment and Services Market: Offshore Construction Index, Global, 2005–2017~ 55. Oilfield Equipment and Services Market: Offshore Construction Market Share, Global, 2005~ 56. Oilfield Equipment and Services Market: Offshore Construction Market Share, Global, 2016~ 57. Oilfield Equipment and Services Market: Rig Equipment Revenue Forecast, Global, 2010–2017 ~ 58. Oilfield Equipment and Services Market: Rig Equipment Index, Global, 2005–2017~ 59. Oilfield Equipment and Services Market: Rig Equipment Market Share, Global, 2005~ 60. Oilfield Equipment and Services Market: Rig Equipment Market Share, Global, 2016~ 61. Oilfield Equipment and Services Market: Downhole Drilling Tools Revenue Forecast, Global, 2010–2017 ~ 62. Oilfield Equipment and Services Market: Downhole Drilling Tool Index, Global, 2005–2017~ 63. Oilfield Equipment and Services Market: Downhole Drilling Tools Market Share, Global, 2005~ 64. Oilfield Equipment and Services Market: Downhole Drilling Tools Market Share, Global, 2016~ 65. Oilfield Equipment and Services Market: Artificial Lifts Revenue Forecast, Global, 2010–2017 ~ 66. Oilfield Equipment and Services Market: Artificial Lifts Index, Global, 2005–2017~ 67. Oilfield Equipment and Services Market: Artificial Lifts Market Share, Global, 2005~ 68. Oilfield Equipment and Services Market: Artificial Lifts Market Share, Global, 2016~
Author Mahesh Radhakrishnan
Industries Energy
WIP Number K257-01-00-00-00
Is Prebook No
GPS Codes 9597,9A33