World Oilfield Services Market Forecast 2017-2021

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Douglas-Westwood’s quarterly publication The World Oilfield Services Market Forecast provides unique insight into the global oilfield services (OFS) market. The product delivers historic, current and future drilling, completion & workover expenditure, forecasting 21 common oilfield service lines including rig & crew, cementing, well testing, logging and production chemicals.

Global Oilfield Services – Onshore on the Rebound

Douglas-Westwood’s (DW) NEW quarterly publication The World Oilfield Services Market Forecast provides unique insight into the global oilfield services (OFS) market. The product delivers historic, current and future drilling, completion & workover expenditure, forecasting 21 common oilfield service lines including rig & crew, cementing, well testing, logging and production chemicals.

With a forecast through to 2021 and utilising a proprietary methodology, DW’s World Oilfield Services Market Forecast provides granular analysis of a market which is expected to steadily increase from $178 billion (bn) in 2016 to $252bn in 2021, after falling 52% over 2014 to 2016 as a result of the oil price crash. Following OPEC’s co-ordinated production cut, DW expect a rebound in US unconventional drilling activity, with the global OFS market set to see 5% year-on-year growth over 2017-2021.

The forecast includes a regional assessment of total OFS spending, with additional in-depth analysis of each service line at a national level (country-by-country breakdown of the top 30 country markets for oilfield expenditure). DW’s detailed service line models include workover, as well as drilling and completion for the onshore & offshore markets, providing unparalleled insight into the OFS sector.

Taking into account the latest macro-economic trends through explicit commodity price inputs to all service line models, DW’s OFS forecast provides up-to-date analysis of one of the most important and fast moving markets in the oil & gas sector.

DW’s new Sectors online data and analysis service (drilling & production database) generates the wells drilled forecast which drives DW’s OFS forecast. Sectors is continuously updated, providing detailed hydrocarbon production and drilling data for 66 countries worldwide, covering 98% of global production. This established foundation provides a base for the further modelling of footage and drilling days — key drivers of OFS spending.

 

The World Oilfield Services Market Forecast contains:

  • Oilfield services expenditure data— generated in-house using models exclusive to DW; the OFS market forecast utilises DW’s own D&P models for wells drilled, footage, drilling days and hydrocarbons production.
  • Full global coverage— the only product to provide country-by-country analysis of the 66 largest global OFS markets.
  • Detailed analysis— regional overview with data and analysis of historic, current and future OFS spending by service line in the onshore and offshore markets. Service line analysis and data at a regional and national level for the onshore and offshore markets.
  • Industry insight – hundreds of man-hours per quarter of industry consultation to ensure accurate and reliable data inputs. Service line specific insight from industry participants has been provided throughout the report.
  • Comprehensive experience— gained from 25 years of research, the forecast has been developed through exposure to industry-leading M&A engagements including numerous diligence exercises conducted for oilfield services organisations worldwide. This has included opaque or less publicised markets such as China, the Middle East and Russia.
  • Quarterly updates— for the highest level of accuracy, a subscription option is available for quarterly reports. DW’s models are continually updated, allowing for regular updates and detailed knowledge of expected trends in OFS activity.
  • Contact us for analyst support— through DW’s network of global offices, DW can provide further regional specific information from local analysts.

 

Key stats:

  • $178bn spent globally in 2016, rising to $252bn in 2021
  • Onshore US rebound to be main driver of growth. North America to see 11% year-on-year expenditure increases over next five years
  • Offshore expenditure to peak in 2018 at $59bn
  • Production chemicals market accounting for 5% of global OFS spend
  • The offshore rig & crew market, which accounted for 61% of total offshore expenditure in 2016, will decline to $32bn by 2021.

Our OFS market forecast is updated on a quarterly basis. This means you can either purchase;

  • A one-off copy of the report, the most recent quarterly update produced


Or alternatively;

  • You can purchase a 12 month subscription. This will include the most up-to-date quarter produced, at the time of purchase, and then three further quarterly updates over the next 12 months

 

Please read our full Terms & Conditions for purchase in PDF format. By purchasing any of our reports the buyer agrees to adhere to these Terms & Conditions.

Additional services: tailored to meet your company’s needs, include dedicated real-time analysis, on-site support and presentations. Please contact us to discuss further research@douglaswestwood.com or call +44 203 4799 505 for more details.

The complexity and flexibility of DW’s models enables us to cut outputs in a number of different formats. DW is able to provide different segmentation or additional granularity if required at an additional cost.

Supporting databooks to accompany the charts and tables presented in our market forecasts are available in Excel format upon request, for most reports.

Please contact DW to discuss further research@douglaswestwood.com or call +44 203 4799 505 for more details.

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