The Spears Oilfield Market Report (OMR) is the petroleum industry’s leading report on top-line revenues of both public and private companies covering 32 segments of the worldwide oilfield service market.

The global oilfield equipment and services market grew 10% to $300 billion in 2023; rising oil production, higher oil prices and improved operator cash flow are expected to drive increased drilling, completion and production activity going forward and lift global spending for oilfield equipment and services to $328 billion in 2024, up 9%, with trends pointing toward further gains in 2025 and beyond.

All segments, except for Oil Country Tubular Goods, saw revenue growth in 2023. While North American onshore activity drove the equipment and service market over the 2021-2022 timeframe, International exploration and development has been the main driver in 2023 and is expected to accelerate going forward, impacting the relative growth rates of both market segments and individual 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 2023 edition of the OMR tracks product line revenues over the 2019-2023 timeframe for ~400 oilfield equipment and service companies.

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 2023 and 2024 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