Revenue for the Oil and Gas Drilling industry in China has been decreasing 7.3% annually over the past five years, but year on year growth has been volatile. Growth in China's economy has been slowing down, which has led to a decline in the domestic crude oil price. As a result, annual growth has been low and falling from 2.6% in 2013 to an estimated 13.2% decrease in 2018 to $150.0 billion.There are three major participants in the Oil and Gas Drilling industry: China National Petroleum Corporation (CNPC), China National Offshore Oil Corporation (CNOOC) and China Petrochemical Corporation (Sinopec). Together, they are set to contribute 82.7% of industry revenue in 2018.Over the next five years, industry revenue is forecast to grow slowly at an annualized rate of 11.3%...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Report - Industry Key Buyers Chapter

There are three major participants in the Oil and Gas Drilling industry: China National Petroleum Corporation (CNPC), China National Offshore Oil Corporation (CNOOC) and China Petrochemical Corporation (Sinopec). These three participants are estimated to hold a combined share of 82.7% of industry revenue in 2018.The industry is heavily regulated and controlled by the Chinese government. There are a small number of small firms in the industry that specialize in a limited range of products to serve niche markets. Foreign companies that want to participate in the industry generally form partnerships or alliances with the major players. The majority of oil and gas resources are controlled by the top three companies...purchase to read more.

Additional Insights for the Oil & Gas Drilling Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Oil & Gas Drilling Industry are

  • Ability to attract local support/patronage
  • Proximity to key markets
  • Operation in states where regulations are more favourable to this industry
  • IBISWorld analysts also discuss how external factors such as World price of crude oil and Energy Resources - Domestic Proved Oil Reserves in the Oil & Gas Drilling industry impact industry performance..

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    What's in this report

    What is the Oil & Gas Drilling Industry?

    The Oil and Gas Drilling industry operates oil and gas fields. Activities include the exploration for crude oil and natural gas; drilling, completing and equipping wells; and other activities to make crude oil and natural gas marketable, to the point of shipment from the producing property. This industry also includes mining and extracting oil from oil shale and oil sands and the production of liquid hydrocarbons and natural gas.

    Industry Products
  • Crude oil
  • Natural gas
  • Others
  • Industry Activities
  • Surveying, mining and transporting crude oil
  • Surveying, mining and transporting natural gas
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World price of crude oil
  • Energy Resources - Domestic Proved Oil Reserves
  • Downstream Demand - Manufacturing
  • Downstream Demand - Petroleum Refineries
  • Energy Resources - Dry Natural Gas Proved Reserves
  • Environmental Considerations - Mining

  • Current Performance
    Industry developmentEmployment and wagesInternational trade
  • Chart: Revenue Growth

  • Industry Outlook
  • Table: Oil & Gas Drilling Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Oil & Gas Drilling Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Oil & Petroleum Refining
  • Natural Gas Production and Distribution

  • Key Selling Industries
  • Oil & Gas Drilling Support Services
  • Special Oil Mining Equipment Manufacturing

  • Products & Services
  • Crude oil
  • Natural gas
  • Others
  • Chart: Oil & Gas Drilling Industry Products and Services Segmentation

  • Demand Determinants
  • Growth of downstream sectors
  • Innovation and technologies
  • New mining sites
  • Transportation methods
  • Government regulations

  • Major Markets
  • Oil refiners
  • Chemical industries
  • Fuel industries
  • Others
  • Exports
  • Chart: Major Market Segmentation for the Oil & Gas Drilling Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation
  • Chart: Cost Structure Benchmarking – Sector vs Oil & Gas Drilling

  • Basis of Competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Oil & Gas Drilling Industry

  • Industry Globalization
    China National Petroleum Corporation, China Petrochemical Corporation, China National Offshore Oil Corporation,
  • Table: China National Petroleum Corporation - financial performance
  • Table: China Petrochemical Corporation - financial performance
  • Table: China National Offshore Oil Corporation - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Oil & Gas Drilling Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Oil & Gas Drilling Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Total Assets (2009-2023)
  • Crude Oil Output (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Crude Oil
  • Oil directly extracted from underground or underwater, without exploitation, fractionation and purification.
  • Natural Gas
  • Flammable gaseous hydrocarbons that emerge with the mining of crude oil.
  • Uranium
  • A type of nuclear fuel.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Oil & Gas Drilling market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Oil & Gas Drilling:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Oil & Gas Drilling market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Oil & Gas Drilling, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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