Industry Analysis & Industry Trends
In the past five years, the industry has benefited from the rise in oil and natural gas prices, which has boosted extractors' demand for the industry's services. The demand for oil and natural gas will continue to grow as the economy recovers in the coming years. Nevertheless, the stringent permitting process for new offshore wells in the Gulf of Mexico will likely restrict potential revenue growth. Furthermore, increased government regulations for hydraulic fracturing are anticipated to lower the attractiveness of natural gas projects... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Oil and Gas Field Services industry is in the mature stage of its life cycle. In the 10 years to 2018, industry value added, which measures this industry's contribution to the US economy, is projected to grow at an annualized rate of 1.3%. During the same period, US GDP is projected to increase an average 2.1% per year. Therefore, this industry's importance to the overall economy is relatively stable, which suggests that it is a mature industry.
This industry has long been in existence and products and services are well rationalized and stable. Currently, firms primarily provide drilling and support services to oil and natural gas extractors, with mining services accounting for a small component of industry revenue... purchase to read more