South America Oilfield Services Market is Estimated to Reach $5,632.8 Million in 2019 - New Report by MicroMarket Monitor

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The South American oilfield services market is highly driven by the drilling and completion activities. South America Oilfield Services Market is expected to grow at a CAGR of 5.8% from 2014 to 2019.

MicroMarket Monitor

MicroMarket Monitor

Key players in South America Oilfield Services Market include Halliburton, Shell.

The oilfield services market in South America was valued at $51,004.0 million in 2014 and is estimated to reach $67,474.0 million by 2019, at a CAGR of 5.8% from 2014 to 2019.

Browse through the TOC of South America Oilfield Services Market for an analysis of industry trends and segments, with the help of various tables and figures.

The major drivers of the oilfield services market are the increase in drilling and completion activities, exploration & production rate, recoverable reserves, and the energy strategy shift through gas and energy security by domestic supply. Brazil holds a major market share of the South American oilfield services market. The new product launches with improved technologies initiatives by oilfield service companies have helped the oilfield services market grow substantially.

The drilling services market will hold the major share of the South American oilfield services market in 2019 due to its shale reserves in Brazil and the offshore market in Venezuela. South America will grow at a promising rate in the next five years.

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The market has been estimated from the demand side. This report divides the market into different types of service segments. In order to provide a deeper understanding of the competitive landscape, the report profiles companies such as Baker Hughes Inc., Schlumberger Ltd., Weatherford International Plc, and Halliburton Co. in the oilfield services market in South America.

Brazil held the largest market share in 2014 within the South America oilfield services market, followed by Venezuela and Argentina.

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The main types in the concerned market are drilling services, oil country tubular goods (OCTG), pressure pumping services, oilfield equipment rental, wireline services, well completion, drilling fluids, well intervention, and coiled tubing services. The market has been analyzed in terms of major countries in the South American market, such as Brazil, Venezuela, and Argentina.

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