The Spears Oilfield Market Report (OMR) is the petroleum industry’s leading report on top-line revenues of both public and private companies. The Oilfield Market Report details 32 equipment and service markets associated with the exploration, drilling, and production segments of the worldwide petroleum industry, and reports on commercial, technical and activity trends impacting this sector. The 2024 edition of the OMR tracks product and service line revenues over the 2020-2024 timeframe for ~400 oilfield equipment and service companies.

As detailed in the OMR, offshore and international markets will be up by ~10% in 2024, more than offsetting a ~10% decline in the NAM market and leaving the global oilfield equipment and services market up 3% for the year, for a total of $316 billion. Most segments, except for Oil Country Tubular Goods, Hydraulic Fracturing, Unit Manufacturing, Land Contract Drilling and Specialty Chemicals, are on track to grow in 2024.

Continued growth in oil and gas demand is expected to drive increased drilling, completion and production activity going forward and lift global spending for oilfield equipment and services to more than $326 billion in 2025, with trends pointing toward further gains in 2026 and beyond.

Information in the OMR includes: market size and growth by segment; revenues and market share by company by segment; and profiles of the leading oilfield equipment and service companies. This year's report features a quarterly view of each segment's activity for 2024 and 2025 and includes a chart generator tool that allows users to create a chart of quarterly revenues for each segment. The report is a useful planning and benchmarking tool for operators, oilfield service firms, OEMs and investors.

The new edition of the Oilfield Market Report includes the current year plus 10 years of history and includes the following market segments:

·       Artificial Lift

·       Casing & Tubing Services

·       Coiled Tubing Services

·       Completion Equipment & Services

·       Contract Compression Services

·       Directional Drilling Services

·       Downhole Drilling Tools

·       Drill Bits

·       Drilling & Completion Fluids

·       Floating Production Services

·       Geophysical Equipment & Services

·       Hydraulic Fracturing

·       Inspection & Coating

·       Land Contract Drilling

·       Offshore Construction Services

·       Offshore Contract Drilling

·       Oil Country Tubular Goods

·       Petroleum Aviation

·       Production Testing

·       Rental & Fishing Services

·       Rig Equipment

·       Solids Control & Waste Management

·       Specialty Chemicals

·       Subsea Equipment

·       Supply Vessels

·       Surface Data Logging

·       Surface Equipment

·       Unit Manufacturing

·       Well Servicing

·       Wireline Logging