Industry Analysis & Industry Trends
In 2015, the Oil and Gas Drilling Support Services industry is expected to generate $39.2 billion. Over the past five years, revenue has been growing at an annualized rate of 5.2% per year. With rising labor costs and raw material prices, industry profit is estimated at 2.6% of revenue in 2015 – although low, profitabilty has been rising.
A major feature of this industry is the existing oligopoly among the three state-owned oil companies, China National Petroleum Corporation (CNPC), China Petrochemical Corporation (Sinopec) and China National Offshore Oil Corporation (CNOOC). In 2015, their combined market share is estimated to be 94.0% of industry revenue. There are about 150 firms operating in this industry, employing 312,505 people with total wages of $7.3 billion.... purchase to read more
Industry Report - Industry Key Buyers Chapter
This industry is an oligopoly of three state-owned oil companies, China National Petroleum Corporation (CNPC), China Petrochemical Corporation (Sinopec) and China National Offshore Oil Corporation (CNOOC). Their combined market share is about 94.0% of industry revenue in 2015, representing a very high industry concentration level. The three companies control most of the oil and gas fields in China, both on land and offshore. Their service subsidiaries have technology advantages over other service companies.
Due to the industry's high entry barriers, private or foreign-funded enterprises are not likely to gain a high market share in the short term. Therefore, the industry concentration level is expected to remain steady... purchase to read more