The downhole tools are the tools that are used during well drilling, completion, and intervention or well workover activities and helps oil well in optimizing the production levels and maintain a continuous flow from the reservoir. The primary purpose of downhole tools is to carry out workover operations and well completion process as well as examine the reservoir properties such as rock, sand, and liquid by bringing their sample to the well surface. The main types of downhole tools are drilling tools, pressure and flow control tools, handling tools, impurity control tools, other types. A drilling machine is a type of machine in which holes are made on the workpiece by making use of a rotating tool called a drill bit or twist drill. The downhole tools are available by the onshore and offshore locations that are used for good drilling, well completion, well intervention, well production, formation, and evaluation applications. The downhole tools market research report is one of a series of new reports from The Business Research Company that provides downhole tools market statistics, including downhole tools industry global market size, regional shares, competitors with downhole tools market share, detailed downhole tools market segments, market trends, and opportunities, and any further data you may need to thrive in the downhole tools industry. This downhole tool market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global downhole tools market size grew from $5.29 billion in 2022 to $5.57 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The downhole tools market size is expected to grow to $6.63 billion in 2027 at a CAGR of 4.4%. The rising oil and gas consumption is expected to propel the growth of the downhole tools market going forward. The rising demand for oil and gas in form of automotive fuel and household cooking owing to rapidly rising levels of population. The downhole tools are used for drilling or extraction of minerals. Therefore, the increase in the consumption of oil & gas will require the extraction of more minerals, which will eventually increase the growth of downhole tools. For instance, according to U.S. Energy Information Administration, the U.S. Federal Statistical System responsible for collecting, analyzing, and disseminating energy information, it is estimated that 99.4 million b/d of petroleum and liquid fuels were consumed globally in 2022, up by 1.6 million b/d from 2021. They forecast that global consumption will rise by an average of 2.1 million b/d for all of 2022 and by an average of 2.0 million b/d in 2023. Therefore, rising oil and gas consumption is driving the demand for the downhole tools market. Technological innovation is the key trend gaining popularity in the downhole tools market. Major companies operating in the downhole tools market are focused on developing new and innovative products to sustain and strengthen their market position. For instance, in May 2020, Ace Oil Tools, a Norway-based downhole technology company launched a new Ace Splice Clamp, a sub-less downhole product that protects the control lines during completion. The Ace Splice Clamp accommodates a flat-pack control line assembly and combines the functionality of a shrouded crimp clamp for fastening flatpacks with a splice sub into a single device. Because the ASC takes a "one design fits all" approach, operators can employ different vendors to get the different items they need while still using the ASC to store all possible combinations. On damp and dry trees, the ASC can be applied above tube hangers as well as below them. The Annulus Safety Valve, Downhole Safety Valves, Interval Control Valves, packers, and more can all be deployed underneath it. In December 2020, Rival Downhole Tools, a Texas-based downtown tools manufacturer, acquired Hunting Energy Services (Drilling Tools), Inc., for an undisclosed amount. Through this acquisition, Rival Downhole Tools will supply a full range of downhole tools and expand in different markets and product portfolios. Hunting Energy Services (Drilling Tools), Inc., is a US-based downtown tools manufacturer. Major players in the downhole tools market are Schlumberger Limited, Halliburton Company, Baker Hughes Company, Weatherford International plc, National Oilwell Varco Inc., United Drilling Tools Ltd., Schoeller-Bleckman Sales, Logan Oil Tools Inc., Ulterra Drilling Technologies L.P., Wenzel Downhole Tools Ltd., Oil States International Inc., RPC Inc., APS Technology Inc., Flotek Industries Inc., and TechnipFMC. North America was the largest region in the downhole tools market in 2022. Asia-Pacific was the second-largest region in the downhole tools market. The regions covered in the downhole tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the downhole tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The downhole tools market consists of revenues earned by entities by completion tools, downhole control tools, and logging tools. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global downhole tools market is segmented - 1) By Type: Drilling Tools, Pressure and Flow Control Tools, Handling Tools, Impurity Control Tools, Other Types 2) By Location: Onshore, Offshore 3) By Application: Well Drilling, Well Completion, Well Intervention, Well Production, Formation and Evaluation

Offshore support vessels are specialty ships designed for operating on the ocean, serving multiple purposes. They serve as platform support, anchor handling, construction, maintenance, and anything from bringing equipment to rigs to repairing offshore wind turbines and more. The main types of offshore support vessel markets are anchor-handling tug supply vessels, platform support vessels, multipurpose support vessels, emergency response or standby vessels, rescue vessels, crew vessels, seismic vessels, and chase vessels. An anchor-handling tug supply vessel is a type of supply ship that helps in installing oil rigs in mid-sea and also for rescue purposes. These vessels also serve as emergency response and rescue vessels (ERVs) and as supply transports. The various services include technical services, inspections, surveys, and others. The various water depth includes shallow water, deep water and ultra-deep-water. The various application includes oil and gas applications, and offshore applications. The offshore support vessels market research report is one of a series of new reports from The Business Research Company that provides offshore support vessel market statistics, including offshore support vessel industry global market size, regional shares, competitors with an offshore support vessel market share, detailed offshore support vessel market segments, market trends and opportunities, and any further data you may need to thrive in the offshore support vessel industry. This offshore support vessel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global offshore support vessel market size grew from $24.18 billion in 2022 to $26.03 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The offshore support vessel market size is expected to grow to $31.62 billion in 2027 at a CAGR of 5.0%. Increasing exploration and production activities for oil and gas are expected to propel the growth of the offshore support vessel market. A substantial presence of proven oil reserves in various countries is set to increase production activities. Innovations from such reserves are transforming into demand for well drilling and production activities, which, in turn, are maintaining the offshore support vessel market growth. Increasing oil and gas exploratory activities in the golden triangle, including the Gulf of Mexico, Brazil, and West Africa, are anticipated to drive offshore E&P activities in the region. For instance, in March 2022, according to a survey report published by S&P Global, a US-based publicly traded corporation, production, capital expenditures, employment, and overall operating costs all increased dramatically in Q1 in the oil and gas exploration industry. In addition, nearly 52% of respondents reported an increase in oil production, along with 47% reporting an increase in natural gas production during the quarter of 2022. Therefore, increasing exploration and production activities for oil and gas are driving the growth of the offshore support vessel market. New product innovations have emerged as the key trend gaining popularity in the offshore support vessel market. Major companies operating in the offshore support vessel sector are introducing new products to reinforce their position. For instance, in December 2020, Siem Offshore's PSV, a Norway-based company that manufactures offshore vessels, launched its first hybrid vessel, Siem Symphony. This vessel is fitted with a 600-kWh chargeable battery pack as an additional power supply, which helps to lower the fuel consumption of the vessel. These hybrid vessels are effective during standby mode. In July 2020, Seacor Marine, a US-based international ship manufacturing company, acquired Seacosco for a deal amount of USD28.15 million. This acquisition will expand Seacor’s existing portfolio of support vehicles and solutions and boost the company's capabilities. The acquisition helps Seacor’s Marine strategy to transform their operations by advancing the technological capabilities and giving their customers the best possible solutions with high efficiency. Seacosco is a US-based offshore support vessel company. Major players in the offshore support vessel market are Solstad Offshore ASA, Seacor Marine Holdings, Swire Pacific Offshore, Tidewater, Havila Shipping, Maersk, Siem Offshore, Bourbon Corporation SA, and Havila Shipping ASA. Asia-Pacific was the largest region in the offshore support vessel market in 2022. North America is expected to be the fastest growing market in the forecast period. The regions covered in the offshore support vessel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the offshore support vessel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The offshore support vessel market consists of sales of well intervention vessels, and accommodation vessels. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global offshore support vessel market is segmented - 1) By Type: Anchor-handling tug supply vessels, Platform Support Vessels, Multipurpose Support Vessels, Emergency Response or Standby and Rescue Vessels, Crew Vessels, Seismic Vessels, Chase Vessels 2) By Service: Technical Services, Inspection and Survey, Other Services 3) By Water Depth: Shallow water, Deepwater, Ultra-Deepwater 4) By Application: Oil and Gas Applications, Offshore Applications

Offshore wind refers to a clean and renewable energy source generated by utilizing the wind's force on the open seas, where it reaches a higher and more consistent speed than on land due to the lack of boundaries and is used for the generation of electricity from wind farms in water bodies, usually at sea. The main components of the offshore wind market are turbines, electrical infrastructure, substructures, and other components. A turbine refers to a machine or engine which uses a stream of air, gas, water, or steam to turn a wheel and produce power. The locations of wind power include shallow water, transitional water, and deep water. The capacity ranges of offshore wind include up to 3MW,3MW, and above 5MW. The various applications of wind power include electric power, oil and gas, aviation and transport, and other applications. The offshore wind market research report is one of a series of new reports from The Business Research Company that provides offshore wind market statistics, including offshore wind industry global market size, regional shares, competitors with an offshore wind market share, detailed offshore wind market segments, market trends and opportunities, and any further data you may need to thrive in the offshore wind industry. This offshore wind market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global offshore wind market size grew from $30.28 billion in 2022 to $33.52 billion in 2023 at a compound annual growth rate (CAGR) of 10.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The offshore wind market size is expected to grow to $53.02 billion in 2027 at a CAGR of 12.1%. Increasing global investments in renewable energy are expected to propel the growth of the offshore wind market going forward. Renewable energy is energy generated from naturally replenished sources such as the sun and wind. The government is investing in renewable energy to strengthen its position in the offshore wind generation sector. For instance, in June 2021, according to International Energy Source, a Paris-based autonomous intergovernmental organization, Renewable energy has been estimated to attract 70% of global energy investment 2021, Global energy investment is expected to rebound this year and increase 10 % year-on-year to around $1.9 trillion/ Therefore, increasing global investments in renewable energy are expected to propel the demand for offshore wind solutions during the forecast period. Product innovation is a key trend gaining popularity in the offshore wind market. Major companies operating in the offshore sector are focused on developing new product innovations to strengthen their position. For instance, in September 2021, Siemens Gamesa Renewable Energy, a Spain-based company specializing in the renewable energy industry launched RecyclableBlade, the world’s first turbine blade which is recyclable. This blade is commercially used offshore and has RecyclableBlade technology for separations of the materials in the blade at the end of its lifetime. These wind turbine blades are made from a combination of materials cast together with resin in order to efficiently separate the resin from the other components at end of the blade’s working life. In December 2020, VINCI Energies, a France-based provider of a wide range of services in the energy and information technologies sector acquired EWE Offshore Services & Solutions GmbH for an undisclosed amount. Through this acquisition, VINCI Energies is focused on expanding its business presence in the renewable energy sector, and enhancing its presence across the globe. EWE Offshore Service & Solutions is a Netherlands-based provider of offshore wind solutions and maintenance services. Major players in the offshore wind market are General Electric, Siemens Gamesa, MHI Vestas, Goldwind, Shanghai Electric Wind Power Equipment Co, Doosan Heavy Industries and Construction, ABB, Nordex SE, EEW, Nexans, DEME, Ming Yang Smart Energy Group Co, Envision, Sinovel, Orsted, Hitachi, Rockwell Automation, Senvion, Enercon, Prysmian Group, Suzlon Group, and Zhejiang Windey Co. Western Europe was the largest region in the offshore wind market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the offshore wind market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the offshore wind market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The offshore wind market includes revenues earned by entities by providing services with the help of various floating platforms including spar-buoy, tension leg platform, semi-submersible, and barge. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global offshore wind market is segmented - 1) By Component: Turbines, Electrical Infrastructure, Substructure, Other Components 2) By Location: Shallow Water, Transitional Water, Deep Water 3) By Capacity: Upto 3MW, 3MW to 5MW, Above 5MW 4) By Application: Electric Power, Oil and Gas, Aviation, Transport, Other Applications

Oil and gas wells drilling services refer to the extensive set of procedures required to build circular wells using excavation techniques. Oil and gas wells drilling services comprise of new well construction, well reconstruction, well rehabilitation, well repair, installation of pitless equipment, and well plugging services. The main types of oil and gas wells drilling services are onshore drilling services and offshore drilling services. Onshore drilling entails driving a drilling rig deep into the earth to reach fossil fuels. Onshore drilling services include the construction of oil and gas wells for production, exploration, and appraisal, as well as other types of wells such as vertical, deviated, and horizontal wells. The various services offered include directional drilling, non-directional drilling and the machine parts used are rigs, pipes, bits, reamers and others. The oil and gas wells drilling services market research report is one of a series of new reports from The Business Research Company that provides oil and gas wells drilling services market statistics, including oil and gas wells drilling services industry global market size, regional shares, competitors with a oil and gas wells drilling services market share, detailed oil and gas wells drilling services market segments, market trends and opportunities, and any further data you may need to thrive in the oil and gas wells drilling services industry. This oil and gas wells drilling services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global oil and gas wells drilling services market grew from $136.86 billion in 2022 to $142.37 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The oil and gas wells drilling services market is expected to grow to $166.69 billion in 2027 at a CAGR of 4.0%. The rapid pace of innovation in oil and gas exploration and drilling technologies is boosting production volumes and reducing production costs. Technological advances are allowing oil and gas wells drilling companies to enhance oil and gas recovery rates and considerably reduce production costs. For instance, 3D seismic technology is being used to optimize exploration and drilling processes to enhance oil and gas production levels and cut down costs associated with exploration and drilling. Other areas of rapid technological advances in the oil and gas market include hydraulic fracturing and horizontal drilling. Thus, advancements and innovation in exploration and drilling technologies are expected to drive the oil and gas wells drilling services market during the forecast period. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the oil and gas wells drilling services market in 2020 as fears over COVID-19 resulted in lower oil prices, exasperated by a price war when the members of the OPEC cartel were unable to agree on production cuts in February 2020, resulting in a decline in the dollar price of WTI Crude per barrel falling from around $50 to around $25. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity, with countries entering a state of 'lock down' and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the oil and gas wells drilling services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. In addition, current oil prices are uneconomic for many operators and are likely to result in lower supply in the medium term, as operators cut activity or cease trading, resulting in an upturn in prices. Oil and gas wells drilling companies are adopting 3D visualization systems to reduce project cycle times and increase drilling accuracy.3D visualization system generates a 3D model of a wellbore and real-time drilling data to monitor and optimize drilling process. This system facilitates automatic diagnosis of drilling problems and improves and streamlines collaboration by allowing geoscientists and drilling engineers to virtually locate, see, and test drilling sites, resulting in significant cost savings of up to20% and reduction in non-productive drilling time by 20%. These systems are integrated with asset teams by means of software, thus facilitating precise and accurate placement of drill sites. For Instance, some of the major companies offering 3D visualization technology companies include eDrilling, Hexagon, Mechdyne, Landmark. Major companies in the oil and gas wells drilling services market include Baker Hughes Co, Schlumberger Ltd., Halliburton, China Oilfield Services Ltd., Transocean Ltd., Helmerich & Payne, Inc., Weatherford International plc, Nabors Industries Ltd., Valaris PLC, and Saipem. North America was the largest region in the oil and gas wells drilling services market in 2022. Middle East was the second largest region in the oil and gas wells drilling services market. The regions covered in the oil and gas wells drilling services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the oil and gas wells drilling services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The oil and gas wells drilling services market includes revenues earned by entities by providing services concerning well construction, maintenance, and reconstruction. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global oil and gas wells drilling services market is segmented - 1) By Type: Onshore Drilling Services, Offshore Drilling Services 2) By Service: Directional Drilling, Non-Directional Drilling 3) By Machine Parts: Rigs, Pipes, Bits, Reamers, Other Machine Parts

The oil and gas supporting activities provide support activities on a contract or fee basis for oil and gas operations such as exploration, drilling, and extraction. The main types of oil and gas supporting activities are well maintenance, exploration, and well developing. Exploration companies drilled a deep test hole, and exploratory well both onshore and offshore to locate proven reserves of recoverable gas and oil. The various drilling types include offshore, and onshore that are used for crude petroleum comprises and natural gas extraction comprises. The oil and gas supporting activities market research report is one of a series of new reports from The Business Research Company that provides oil and gas supporting activities market statistics, including oil and gas supporting activities industry global market size, regional shares, competitors with a oil and gas supporting activities market share, detailed oil and gas supporting activities market segments, market trends and opportunities, and any further data you may need to thrive in the oil and gas supporting activities industry. This oil and gas supporting activities market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global oil and gas supporting activities market grew from $272.98 billion in 2022 to $285.39 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The oil and gas supporting activities market is expected to grow to $337.01 billion in 2027 at a CAGR of 4.2%. The oil and gas supporting activities market was mainly driven by rapid growth in emerging markets in the historic period. Emerging markets growth was aided by rising disposable income, stable political environment and increasing foreign investments in these countries. For instance, China’s GDP grew by 2.3% in 2020 to $14.72 trillion. Additionally, according to the World Economic Outlook Reports by the IMF, global GDP growth was around 3.3% and 3.4% in 2020 and 2021 respectively. Thus, strong economic growth boosted the demand for oil and gas, and this drove the oil and gas supporting activities market during the historic period. Growing popularity of renewable energy sources was a major restraint on the oil and gas supporting activities market during the historic period. The removal of fuel subsidies by governments and the drop in renewable energy technology and infrastructure costs meant the cost of power generated through solar and wind energy became comparable to the cost of power generated through fossil fuels. Certainty in capital costs and absence of material costs is favorable to renewable energy projects when compared to petrochemical-based projects where project ROI (Return on Investment) is dependent on raw material costs, thus affecting the growth of the market. Companies providing support activities for oil and gas operations are using rig-less technology to reduce turnaround time for decommissioning of wells. Rig-less P&A refers to decommissioning of oil wells wherein companies need not replace tubes and drill pipes while placing primary or secondary barriers, thus offering significant cost savings over rig-based operations. Also, the equipment used for rig-less P&A can also be operated at a water depth of 1600 feet. For instance, some of the major companies using rig-less technology include Baker Hughes, Halliburton, Oceaneering International, Schlumberger, and Weatherford. Major companies in the oil and gas supporting activities market include Schlumberger Ltd., TechnipFMC plc, Saipem, Halliburton, Weatherford International plc, Petrofac, Aibel, Calfrac Well Services Ltd., Patterson-UTI Energy, Inc., and Trican Well Service Ltd. North America was the largest region in the oil and gas supporting activities market in 2022. Middle East was the second largest in the oil and gas supporting activities market. The regions covered in the oil and gas supporting activities market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the oil and gas supporting activities market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The oil and gas supporting activities market includes revenues earned by entities by logging, cementing, casing, perforating, fracturing, and maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global oil and gas supporting activities market is segmented - 1) By Type: Well Maintenance, Exploration, Well Developing 2) By Drilling Type: Offshore, Onshore 3) By End-Users: Crude Petroleum Comprises, Natural Gas Extraction Comprises

The oil and gas upstream activities undertake the pre-refining activities of crude oil and natural gas production. The oil and gas upstream activities includes drilling onshore and offshore as well as exploration activities like geological survey creation and land rights acquisition. The main types of oil and gas upstream activities are crude oil, natural gas, oil and gas wells drilling services, oil and gas supporting activities. Crude oil is a naturally occurring petroleum product made up of hydrocarbon deposits and other organic materials that is extracted from the earth and refined into gasoline, jet fuel, and other petroleum products. The different drilling types include offshore, onshore and is used by various sectors such as crude petroleum comprises, natural gas extraction comprises. The oil and gas upstream activities market research report is one of a series of new reports from The Business Research Company that provides oil and gas upstream activities market statistics, including oil and gas upstream activities industry global market size, regional shares, competitors with a oil and gas upstream activities market share, detailed oil and gas upstream activities market segments, market trends and opportunities, and any further data you may need to thrive in the oil and gas upstream activities industry. This oil and gas upstream activities market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global oil & gas upstream activities market grew from $4,113.37 billion in 2022 to $4,357.84 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The oil & gas upstream activities market is expected to grow to $5,357.28 billion in 2027 at a CAGR of 5.3%. Oil and gas extraction companies around the world are investing heavily in digital oilfield technology to enhance oil and gas production. Digital oil fields integrate advanced software, hardware, and data analysis techniques to collect real-time data from the oilfield. They consist of visualization, product surveillance, integrated decision-making, and remote communication systems. Digital technologies in oil fields include high-performance drill bits, advanced electrical submersible pumps, and 3D seismic imaging and reservoir modeling. Oilfields digitization facilitates efficient utilization of human resources and thus optimizes the profitability of oil production. This technology is changing the competitive landscape with a fact that an increase in production efficiency by ten percentage points can yield an impact of $220 million to $260 million on the bottom-line. According to IHS CERA, digital oilfield implementation leads to an increase in oil production by 2 to 8%and reduction in operating expense by 5 to 25%. For Instance, some of the major companies investing in digital oilfields include Noble Corp, Statoil, and Apache Corp. Oil and gas well drilling companies are adopting 3D visualization systems to reduce project cycle times and increase drilling accuracy.3D visualization system generates a 3D model of a wellbore and real-time drilling data to monitor and optimize drilling process. This system facilitates automatic diagnosis of drilling problems and improves and streamlines collaboration by allowing geoscientists and drilling engineers to virtually locate, see, and test drilling sites, resulting in significant cost savings of up to20% and reduction in non-productive drilling time by 20%. These systems are integrated with asset teams by means of software, thus facilitating precise and accurate placement of drill sites. For Instance, some of the major companies offering 3D visualization technology companies include eDrilling, Hexagon, Mechdyne and Landmark. Oil and Gas Wells Drilling Service providers are using seismic technology to map and interpret potential hydrocarbon reserves. 4d seismic technology is used to track the change in the physical properties of the reservoir rocks, which are caused due to changes in reservoir pressure, temperature, and fluid saturation. It tracks these changes by repeating 3D seismic surveys over time-to-time to create a time-lapse or 4D seismic image. This technology works as a tool to minimize drilling risk and maximize the return on investment. For Instance, some of the major companies using this technology include Statoil, NTNU, and Chevron. Major companies in the oil & gas upstream activities market market include Iraq Ministry of Oil, Gazprom PAO, Saudi Aramco, National Iranian Oil Company, Royal Dutch Shell, Rosneft, Schlumberger Ltd., Equinor, Gazprom Neft, and Chevron. Asia-Pacific was the largest region in the oil & gas upstream activities market in 2022. North America was the second largest region in the oil & gas upstream activities market. The regions covered in the oil & gas upstream activities market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the oil & gas upstream activities market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The oil and gas upstream activities market includes revenues earned by entities by onshore drilling services, offshore drilling services, well maintenance, exploration and well developing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global oil and gas upstream activities market is segmented - 1) By Type: Crude Oil, Natural Gas, Oil And Gas Wells Drilling Services, Oil And Gas Supporting Activities 2) By Drilling Type: Offshore, Onshore 3) By End-User: Crude Petroleum Comprises, Natural Gas Extraction Comprises Subsegments Covered: Onshore Drilling Services, Offshore Drilling Services, Well Maintenance, Exploration, Well Developing

Oil and gas pumps refer to a machine that is an internal combustion engine that transfers process fluids from one point to another by circulating engine oil under pressure to the engine's rotating bearings, sliding pistons, and camshaft. Oil and gas pumps are used in the oil and gas industry to transfer oil, grease, gas, and other fluids. The main types of oil and gas pumps are centrifugal, positive displacement, and cryogenic. A centrifugal pump converts driver energy to kinetic energy in a liquid by accelerating the fluid to the outer rim of an impeller. The pumps have a capacity of up to 500 gpm (small), 500–1000 gpm (medium), and more than 1000 gpm (high) and are used in upstream, midstream, and downstream applications. The oil and gas pumps market research report is one of a series of new reports from The Business Research Company that provides oil and gas pumps market statistics, including oil and gas pumps industry global market size, regional shares, competitors with oil and gas pumps market share, detailed oil and gas pumps market segments, market trends and opportunities, and any further data you may need to thrive in the oil and gas pumps industry. This oil and gas pumps market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global oil and gas pumps market size grew from $11.86 billion in 2022 to $12.54 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The oil and gas pumps market size is expected to grow to $15.81 billion in 2027 at a CAGR of 6.0%. The development of oil and gas pipeline infrastructure contributed to the growth of the oil and gas pumps market. Oil and gas pipelines are used for transporting crude oil or natural gas liquids. Pumps or compressors are used for moving the oil or gas through the pipeline at a safe speed. According to the India Brand Equity Foundation, the government of India is planning to invest $9.9 billion in expanding the gas pipeline network across the country. According to Invest India, about 12,672 km of gas pipelines are under development. Therefore, the development of oil and gas pipeline infrastructure is expected to drive the market for oil and gas pumps during the forecast period. Internet of Things (IoT) in oil and gas refineries is an emerging trend in the oil and gas pumps market. IoT is used to monitor pipe thickness, flow rate, pipe pressure, and more. IoT enables to have connected machines in the oil and gas industry so that oil and gas companies can predict equipment failure and reduce overall downtime. For example, a single pump failure can cost hundreds of thousands of dollars in lost productivity, so if the condition of pumps is known in real-time, replacements can be ready for those deemed susceptible to failure. Therefore, IoT plays an important role in the oil and gas pumps market. In February 2021, Caterpillar, a USA company that designs, manufactures, and sells machinery, acquired the Weir oil & gas subsidiary of Weir group for a deal amount of $405 million. The acquisition of Weir oil & gas will help Caterpillar to build its oil and gas pumps business line and the organization will be running the operation as SPM oil & gas business. The transaction includes more than 40 global service centres and around 2000 employees. Major players in the oil and gas pumps market are KSB SE, Flowserve, Sulzer, Xylem, Gardner Denver, Alfa Laval, SPP Pumps, ITT Oil & Gas, Kirloskar Brother Limited, HMS Group, Nikkiso, Trillium Flow Technologies, EBARA Corporation, Gemmecotti, PCM SA, Ruhrpumpen Global, EDUR-Pumpenfabrik Eduard Redlien, Wastecorp pumps, NETZSCH Pumps & Systems, Framo, SKF, Lewa, DXP, National Pump & Energy, and Enpro Subsea. Asia-Pacific was the largest region in the oil and gas pumps market in 2022. This region is also expected to be the fastest growing region in the forecast period. The regions covered in the oil and gas pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the oil and gas pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The oil and gas pump market consists of sales of gear pumps, diaphragm pumps, and metering pumps.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global oil and gas pumps market is segmented - 1) By Type: Centrifugal, Positive Displacement, Cryogenic 2) By Capacity: Small (up to 500 gpm), Medium (500-1000 gpm), High (more than 1000 gpm) 3) By Application: Upstream, Midstream, Downstream

Oil and Gas extraction is the exploration and production of petroleum and natural gas from wells. The main types are oil & gas upstream activities, oil downstream products. Oil and gas upstream activities include exploration activities, such as creating geological surveys and obtaining land rights and production activities, such as onshore and offshore drilling. The various drilling types include offshore; onshore that are used for residential, commercial, institutions and other applications. The oil and gas market research report is one of a series of new reports from The Business Research Company that provides oil and gas market statistics, including oil and gas industry global market size, regional shares, competitors with a oil and gas market share, detailed oil and gas market segments, market trends and opportunities, and any further data you may need to thrive in the oil and gas industry. This oil and gas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global oil and gas market grew from $6,989.65 billion in 2022 to $7,330.80 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The oil and gas market is expected to grow to $8,670.91 billion in 2027 at a CAGR of 4.3%. Low interest rates in most developed countries will positively impact the oil and gas industry during the forecast period. For instance, in March 2020, UK decreased the interest rates to 0,1% which was the lowest ever. Furthermore, other central banks of countries such as North Macedonia, South Africa, Malaysia, Kenya, Argentina, Ukraine, Sri Lanka, and Azerbaijan, as well as Turkey also decreased their interest rates in 2020. Oil price volatility is likely to have a negative impact on the market as significant decline and increase in oil prices negatively impacts the government and consumer spending. The decline in oil prices is having a negative impact on government spending in countries such as Saudi Arabia, Nigeria and the UAE (United Arab Emirates) which are largely dependent on revenues generated through crude oil exports; whereas significant increase in oil prices had resulted in rising inflation, current account deficit and fiscal deficit in countries such as India and China, which predominantly import oil. For instance, the Saudi government is expected to cut down its spending from 1.05 trillion riyals ($280 billion) in 2019 to 1.02 trillion riyals ($270 billion) in 2020, to 955 billion riyals ($255 billion) by 2022, due to significant decline in revenues generated from oil exports, thereby affecting the market. This high volatility in oil prices is expected to negatively impact the market going forward. Major companies in the oil and gas industry are looking into big data analytics and artificial intelligence (AI) to enhance decisions making abilities and thus drive profits. The companies in this industry gather huge amounts of raw data relating to the working of refineries, pipelines and other infrastructure through a large number of sensors placed across the oil rig. Using big data analytics, the companies can detect patterns which can allow them to quickly react to unwanted changes or potential defects, thus saving costs. AI allows the companies to take better drilling and operational decisions. Companies such as ExxonMobil and Shell have been increasingly investing in AI technology to have a centralized method of data management and support data integration across multiple applications. Other companies such as Sinopec, a Chinese chemical and petroleum corporation, has announced its decision to construct 10 intelligent centers to help in reducing operation costs by 20%. Major companies in the oil and gas market include Royal Dutch Shell, BP plc, Saudi Aramco, Exxon Mobil, Gazprom PAO, Chevron, Iraq Ministry of Oil, PJSC Lukoil, Total SA, and Rosneft. Asia-Pacific was the largest region in the oil and gas market in 2022. North America was the second largest region in the oil and gas market. The regions covered in the oil and gas market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the oil and gas market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The oil and gas market consists of sales of crude oil, natural gas, refined petroleum products and asphalt, lubricating oil and grease. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global oil and gas market is segmented - 1) By Type: Oil & Gas Upstream Activities, Oil Downstream Products 2) By Drilling Type: Offshore, Onshore 3) By Application: Residential, Commercial, Institutions, Other Applications Subsegments Covered: Crude Oil, Natural Gas, Oil And Gas Wells Drilling Services, Oil And Gas Supporting Activities, Refined Petroleum Products, Asphalt, Lubricating Oil And Grease