Upstream Services Market Share, Revenue, Price, Gross Margin Analysis

Posted by Jitendra Magar on March 9th, 2018

Upstream Services Global Market – Overview

Upstream (or exploration and production- E&P) Services refer to the oil and gas industry.The upstream sector includes searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil or raw natural gas to the surface. There has been a significant shift toward including unconventional gas as a part of the upstream sector, and corresponding developments in liquefied natural gas (LNG) processing and transport.

Upstream Services are oil and gas services that provide for exploration and production of oil and gas on offshore and onshore fields in order to increase production efficiency and production lifespans of projects. Upstream process includes various phases such as the search for underwater and underground oil and gas fields, drilling of wells and subsequently operating them. Upstream services segment comprises services involved in upstream process such as maintenance and operation for drilling equipment, sampling of fluids and decommissioning involved in various stages within upstream processes.

Reliable upstream services answering the unique challenges faced by oil and gas operatives are essential for innovative, efficient and safe processes. Operating in the upstream sector carries a unique set of considerations and is becoming progressively challenging for oil and gas companies. As reserves diminish in and around established oil and gas hubs, the need for unconventional extraction methods grows, presenting businesses with myriad considerations. Exploration in ultra-deep waters and working with higher temperatures and pressures requires increasing innovation and new technologies, operational and financial efficiency and strong risk management processes.

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Upstream Services Global Market – Regional Analysis

North America is currently leading this market with their shale gas revolution boosting the market. Asia-pacific regions accounts for a considerable portion of oil and gas demand and is expected to have a significant impact on the growth & development in the upstream services market.

Upstream Services Global Market – Segments

The Upstream Services Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation By Type : Comprises Pressure Pumping, Tubular goods, Waste Management, Coiled Tubing, Completion, Intervention, Well Fluids, Wireline, and others.

Segmentation By Well Type: Comprises Land and offshore, and Others.  

Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

According to a recent study report published by the Market Research Future, The Global Market of Upstream Services has increased its market growth in recent years and is expected to grow at a rapid pace during the forecasted period. The global market of Upstream Services is forecasted to witness a thriving growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2027).

Reviving fossil fuel demand is expected to result in a rise in demand for the Upstream Services market. The oil and gas industry has been experiencing severe revenue contraction post April 2014, following oil price decline. Persistent price downfall had a profound impact on the investments in the oil & gas industry, particularly the upstream sector. However, recent adjustments the oil prices have instigated a positive outlook for this industry. Changes in demand-supply dynamics is expected to induce a rise in the number of oil wells, thereby driving the upstream services market. Increasing demand for oil and gas is also expected to fuel the demand in the upstream services market.

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