Norway Drilling Fluids Market Size & Outlook, 2023-2030
Norway drilling fluids market, 2018-2030 (US$M)
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Norway drilling fluids market highlights
- The Norway drilling fluids market generated a revenue of USD 145.4 million in 2023 and is expected to reach USD 187.5 million by 2030.
- The Norway market is expected to grow at a CAGR of 3.7% 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.
Drilling fluids market data book summary
| Market revenue in 2023 | USD 145.4 million |
| Market revenue in 2030 | USD 187.5 million |
| Growth rate | 3.7% (CAGR from 2023 to 2030) |
| Largest segment | Wbf |
| Fastest growing segment | WBF |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Norway accounted for 1.7% of the global drilling fluids market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Europe, Russia drilling fluids market is projected to lead the regional market in terms of revenue in 2030.
- Russia is the fastest growing regional market in Europe and is projected to reach USD 1,476.6 million by 2030.
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Drilling Fluids Market Scope
Drilling Fluids Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Norway 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 51.72% in 2023. Horizon Databook has segmented the Norway drilling fluids market based on obf, sbf, wbf covering the revenue growth of each sub-segment from 2018 to 2030.
The WBF is the product with the greatest market penetration and is growing at a CAGR of 3.2% owing to the high level of activities on the Norwegian continental shelf in the past few years. Huge investments have been made in the, field development, exploration, onshore facilities and transport infrastructure to extend the lifetime and improve recovery of the fields.
The number of active rigs has witnessed a steady growth since 2014. The high regularity in production of Norwegian oil fields coupled with the increasing demand for natural gas in certain parts of Europe is an important factor driving the ma
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Horizon Databook provides a detailed overview of country-level data and insights on the Norway drilling fluids market , including forecasts for subscribers. This country databook contains high-level insights into Norway drilling fluids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Norway drilling fluids market size, by product, 2018-2030 (US$M)
Norway Drilling Fluids Market Outlook Share, 2023 & 2030 (US$M)
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