Key players in the Europe Drilling Services Market include Schlumberger Ltd. (U.S.), Baker Hughes Inc. (U.S.), Halliburton Co. (U.S.), and Transocean Ltd. (Switzerland).
(PRWEB) April 28, 2015
The drilling services market in Europe was valued at $27,008.8 million in 2014, and is estimated to reach $35,375.1 million by 2019, at a CAGR of 5.5% from 2014 to 2019.
Browse through the TOC of Europe Drilling Services Market for an analysis of industry trends and segments, with the help of various tables and figures.
Drilling services is one of the important segments in oil field services. Increasing exploration and production activities across the region is driving the market growth.
As existing oil and gas reserves are depleting, the need for directional drilling services is increasing. On count of heavy demand for oil, and continuous reduction in replacement of depleting hydrocarbon reservoirs, the offshore drilling services market will experience tremendous growth in the coming years.
Also, capital spending by exploration and production companies is rising and is expected to grow over coming years. This would also propel growth of this market.
On the basis of services, the market includes contract drilling, directional drilling, drilling waste management and logging while drilling services. Based on application, the market includes onshore and offshore. The onshore segment accounted for the largest share of 53% in 2014.
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The market has been analyzed in terms of the major countries in the European market, such as Norway, the U.K., and Russia. The market in Russia accounted for the largest share of 59.7% in 2014 in the European drilling services market followed by the U.K. with a share of 18.4%.
Key players operating in this market are Schlumberger Ltd. (U.S.), Baker Hughes Inc. (U.S.), and Halliburton Co. (U.S.).
North America Drilling Services Market
The North American drilling services market was valued at $83,733.8 million in 2014 and is projected to reach $98,936.4 million by 2019 at a CAGR of 3.4% from 2014 to 2019. The demand for energy is increasing rapidly over the years, and many of the existing reservoirs are depleting with time.
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