South America Oilfield Services Market Worth $67,474.0 M by 2019, According to a New Study on ASDReports

Wednesday 27 January 2016, Amsterdam

The report, now available on ASDReports, “South America Oilfield Services Market By Type (Coiled Tubing Services, Well Completion, Drilling Fluids, Drilling Services, OCTG, Wireline Services & Others), by Application (Onshore & Offshore) by Countries - Trends and forecasts to 2019” is estimated to reach $67,474.0 million by 2019, at a CAGR of 5.8% from 2014 to 2019.

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.

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.

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.