Industry Analysis & Industry Trends
Operators in the Oil and Gas Field Services industry primarily provide services to oil and gas extractors, making demand highly dependent on oil and natural gas prices. Over the past five years, divergent US and global energy prices stemming from the recession resulted in volatile year-on-year revenue growth. Nevertheless, revenue has increased overall due to steadily growing global demand for energy and recovery from recessionary lows. In the coming years, demand for oil and gas field services is projected to rise, as the global economy recovers. However, low US natural gas prices will likely continue to constrain industry growth. Stringent... 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 2020, industry value added, which measures an industry's contribution to the US economy, is expected to grow at an annualized rate of 4.7%. During the same period, US GDP is projected to increase an average 2.5% per year. Although the industry's importance to the economy is rising, this strong growth is mostly due to recovery from recessionary lows and volatile commodity prices.
This industry has long been established and products and services are widely accepted in the marketplace. Operators primarily provide drilling and support services to oil and natural gas extractors, with mining services accounting for a small proportion of industry revenue... purchase to read more