Schlumberger to Continue Leading Oilfield Services Market in India
Increasing GDP coupled with rising
investments in E&P activities in upstream sector to steer growth in India
oilfield services market during the forecast period
According to a recently
published TechSci Research report, “ India
Oilfield Services Market By Application, By Service, Competition Forecast
& Opportunities, 2013 - 2027’’, oilfield
market in India is forecast to surpass $ 2.84 billion by 2027. Evolving technologies,
rising demand for oil & gas, along with development of new fields is
expected to propel demand for oilfield services in the country during the
forecast period. In India, major areas of oil & gas exploration include Gujarat, Assam, Andhra
Pradesh and Mumbai. A number of new exploration activities are going on in
these areas, which is further contributing to the growth of India oilfield
services market. Schlumberger Limited is the market leader in India oilfield services
market and is likely to maintain its dominance during the forecast period as
well due to the company’s increasing involvement in various projects from leading
oil Indian oil majors such as ONGC, Reliance and Cairn India.
Browse 31market data Figures and Tables spread
through 72 Pages and an in-depth TOC on "India Oilfield Services Market" https://www.techsciresearch.com/report/india-oilfield-services-market/2597.html
On the basis of application, India oilfield services market is segmented
into onshore and offshore. Onshore accounted for the largest value share in India
oilfield services market in 2017 and is likely to maintain its dominance
throughout the forecast period as well on the back of a large number of
opportunities in onshore oilfield services. West India held the largest share
in India oilfield services market on account of presence of larger oilfields
and allocation of new blocks in western India. Among different service
categorizations, India oilfield services market was dominated by drilling
services, followed by pressure pumping services and oil country tubular goods
services, in 2017.
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As of 2016, India’s oil production was
856 thousand barrels per day, whereas India’s consumption stood at 4,489
thousand barrels per day, thereby emanating the need for more oilfields in
order to fill the demand-supply gap. Government of India is also increasing its
focus on boosting production of oil within the country in order to decrease oil
imports, which is anticipated to positively
influence India oilfield services market in the coming years.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Oilfield
Services Market By Application, By Service, Competition Forecast & Opportunities,
2013 - 2027” has
evaluated the future growth potential of India oilfield services market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in India oilfield services market.
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