North America Drilling Fluids Market Size & Outlook
North America drilling fluids market, 2018-2030 (US$M)
Related Markets
North America drilling fluids market highlights
- The North America drilling fluids market generated a revenue of USD 2,100.4 million in 2023.
- The market is expected to grow at a CAGR of 4.3% 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, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 2,100.4 million |
| Market revenue in 2030 | USD 2,820.9 million |
| Growth rate | 4.3% (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, North America region accounted for 25.2% 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 |
|---|
North America 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 54.05% in 2023. Horizon Databook has segmented the North America drilling fluids market based on obf, sbf, wbf covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing oil and natural gas production in the region coupled with significant oilfield development especially in the U.S., and Canada tight oil reserves may be attributed to high drilling fluids industry penetration. The regional market witnessed a surge in crude oil production by an average growth of over 10% and natural gas production by over 5% from 2013 to 2014.
The regional market is expected to witness stagnant growth over the next eight years on account of slump in crude oil prices in the recent past particularly from second quarter of 2014 to 2015.
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Target buyers of North America 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 North America drilling fluids market , including forecasts for subscribers. This continent databook contains high-level insights into North America drilling fluids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America drilling fluids market size, by country, 2018-2030 (US$M)
North America Drilling Fluids Market Outlook Share, 2023 & 2030 (US$M)
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