Oilfield Services a $291 billion industry by 2019

Brian Hicks

Written By Brian Hicks

Posted May 9, 2014

A market research report coming out this week by Markets and Markets says the general category of Oilfield Services companies will climb to $291.8 billion by 2019, with a compounded annual growth rate of 11.9 percent.

This report classifies “oilfield services” as: pressure pumping, OCTG, wireline services, drilling and completion fluids, well intervention, completion equipment, and others. The largest sectors within this are pressure pumping services, which accounted for about 37% of the market share of the total oilfield services market last year, followed by OCTG with 26 percent.

Oilfield services mix in 2013

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