Europe Drilling Fluids Market Size & Outlook, 2023-2030
Europe drilling fluids market, 2018-2030 (US$M)
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Europe drilling fluids market highlights
- The Europe drilling fluids market generated a revenue of USD 1,741.6 million in 2023.
- The market is expected to grow at a CAGR of 3.8% from 2024 to 2030.
- In terms of segment, wbf was the largest revenue generating product in 2023.
- WBF is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Russia is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 1,741.6 million |
| Market revenue in 2030 | USD 2,264.0 million |
| Growth rate | 3.8% (CAGR from 2023 to 2030) |
| Largest segment | Wbf |
| Fastest growing segment | WBF |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | OBF, SBF, WBF |
| Key market players worldwide | Baker Hughes Co Class A, CES Energy Solutions Corp, Halliburton Co, Newpark Resources Inc, Petronas Chemicals Group Bhd, Schlumberger Ltd, Weatherford International PLC Ordinary Shares - New |
Other key industry trends
- In terms of revenue, Europe region accounted for 20.9% of the global drilling fluids market in 2023.
- Globally, MEA is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,738.6 million by 2030.
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Drilling Fluids Market Scope
Drilling Fluids Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe drilling fluids market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to drilling fluids market will help companies and investors design strategic landscapes.
Wbf was the largest segment with a revenue share of 57.32% in 2023. Horizon Databook has segmented the Europe drilling fluids market based on obf, sbf, wbf covering the revenue growth of each sub-segment from 2018 to 2030.
Significant drilling mud requirement in the horizontal wells in Italy, Denmark, the Netherlands, Norway, France, and the UK are further anticipated to boost industry expansion. Significant oilfield development in unconventional and offshore reserves along with high rate of deployment of mud-cap drilling technique in the UK, Russia and Norway is anticipated to create new opportunities for the drilling fluid companies in the near future.
Growing crude oil demand has been prompting E&P companies in the region to get involved in extensive drilling activities in onshore and offshore locations. Rising number of oilfield production in the region owing to deep water discoveries in North Sea is anticipated to drive Europe drilling fluid demand over the next eight years.
Drilling fluid manufacturing companies are shifting their focus on developing a complete solution for oil producers in order to maximize their revenues and gain competitive advantage over other industry participants.
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Target buyers of Europe drilling fluids market databook
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Our clientele includes a mix of drilling fluids market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe drilling fluids market , including forecasts for subscribers. This continent databook contains high-level insights into Europe drilling fluids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe drilling fluids market size, by country, 2018-2030 (US$M)
Europe Drilling Fluids Market Outlook Share, 2023 & 2030 (US$M)
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