North American Drilling Services Market is Expected to Grow at a CAGR of 10.5% from 2014 to 2019 - A Report by MicroMarket Monitor

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Increasing exploration & production activities in North America on account of growing energy demand, along with the new offshore discoveries are driving the Drilling Services market in North America.

MicroMarket Monitor

MicroMarket Monitor

Key Players in the North American Drilling Services Market are Baker Hughes Inc. (U.S.), Halliburton Co. (U.S.), Schlumberger Ltd. (U.S.), Weatherford (Switzerland), Transocean (Switzerland), Ensco (The U.K.), Seadrill (Bermuda).

The North American drilling services market report defines and segments the concerned market in North America with analysis and forecast of revenue. The market is estimated to register a CAGR of 10.5% between 2014 and 2019.

Browse through the TOC of North American Drilling Services Market for an analysis of industry trends, segments & forecasts.

The increasing energy demand has led to increased exploration & production activities globally, which requires lots of drilling activities. North America records almost half of the world’s drilling & exploration activities. New discoveries in the offshore regions and shale gas exploration are some of the factors that are driving the drilling services market in North America.

The U.S. held the largest market share in North American drilling services market in 2013. The U.S. is one of the largest oil producers and the largest oil importer in the world, as the domestic oil production does not fulfill the high energy demand from different sectors.

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Contract drilling constitutes the major chunk of drilling services, followed by directional drilling and drilling waste management. Drilling waste management is of prime importance from environment point of view. Growing environmental concerns and stringent regulations are driving the drilling waste management services market, which will subsequently have a positive impact on the North American drilling services market.

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Drilling services market in North America was dominated by onshore drilling applications in 2013. However, due to maturity of onshore fields and increasing energy demand, the offshore drilling services market is growing faster as compared to onshore drilling services. Moreover, the increasing number of new discoveries in offshore fields is also boosting the growth of the offshore drilling services market.

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South America Oilfield Services Market

Due to the rising demand in the global demand for energy, there has been a consequent increase in the drilling and completion activities. Along with this, the discoveries of new oil and gas field, technological advancement and rising of investment are helping oilfield services market to grow. The oilfield services market in South America is expected to reach $36.03 billion by 2019, at a CAGR of 17%, from 2014 to 2019.

The oilfield services market by types covers well intervention, well completion, drilling fluid, coiled tubing services, OCTG, waste management in drilling, pressure pumping services and wireline services. The oilfield services market in South America is also split by geography, including countries such as Brazil, Venezuela, and Argentina.

About MicroMarket Monitor:

MicroMarket Monitor identifies and attends to various unmet needs of different industrial verticals, which include value chain impact analysis. The company publishes about 12000 Market Research Reports on various Micro Markets across the world. The graphical nature and multidimensional analysis of these reports provide advanced Business Intelligence Tools to the clients in that particular target market.

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