Infiniti Research Identifies New Market Opportunities for the Oil Services Sector in Latest Study
The energy industry as a whole has been improving in recent months,
bringing an upswing for oilfield services providers. Companies have
begun to be able to raise their prices and increase operations. However,
this has not been enough to make business sustainable for them again,
and they will need to be able to raise prices further in order to be
profitable. These organizations are also having difficulty finding
skilled labor now that business is increasing, as many workers have left
the field to find work elsewhere.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170316006147/en/
Infiniti Research helps companies identify new market opportunities. (Graphic: Business Wire)
The oil
industry is cyclical, and peaks and troughs in demand are
normal. Some industry experts are optimistic that circumstances will
continue to improve and demand will continue to rise. However, others
estimate that demand will need to reach record levels this year in order
to support oil prices.
There are other ways that oilfield services can adapt to this situation,
however. The adoption of digital oilfield technology, for example, can
streamline operations and allow organizations to make more efficient use
of their resources. This technology involves advanced software and data
analytics that can optimize areas such as workflow, production, and
resource allocation. Infiniti
Research observes that this technology can improve the net
present value of a project by up to 25%, and expects the market to grow
at a CAGR of 4.68% by 2021 despite current setbacks in the oil industry.
View the study: https://www.infinitiresearch.com/casestudy/market-intelligence-oilfield-services
Market Opportunities
In an uncertain and challenging market, it is important to be aware of
the external factors at play, and to take advantage of new technologies
and practices that can benefit
your business. A leading oilfield services company
recently used Infiniti Research’s services to gain insights and
recommendations on strategic engagements on the eight service lines —
wireline logging, coiled tubing/stimulation, cementing, directional
drilling/LWD, surface well testing, slick line, mud logging, drilling
fluids.
By using specialized news aggregators, annual reports, industry
databases, media platforms, industry forums, and company presentations,
Infiniti Research industry specialists presented the client with an
in-depth understanding of the overall market, market pricing, and the
competitive landscape for eight countries in Middle East and Africa. The
numerous insights provided in this study allowed the oil services
conglomerate were utilized for devising strategic plans for future
growth, including organic growth and through merger and acquisition
activities.
Have questions about this study? Request
more information on this report
Related Oil Industry Studies:
Market
assessment for confectionery oils in the food industry
Oil
Refinery Market in Brazil
Industrial
Boilers Market Study in Eastern Europe
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence
company providing smart solutions to address your business challenges.
Infiniti Research studies markets in more than 100 countries to help
analyze competitive activity, see beyond market disruptions, and develop
intelligent business strategies.
With 13 years of experience and offices across three continents,
Infiniti Research has been instrumental in providing a complete range of
competitive intelligence, strategy, and research services for over 550
companies across the globe.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170316006147/en/
Copyright Business Wire 2017
