PUBLISHER: The Business Research Company | PRODUCT CODE: 1929093
PUBLISHER: The Business Research Company | PRODUCT CODE: 1929093
Oil and gas well drilling services involve an extensive set of procedures necessary for creating circular wells through excavation techniques. These services encompass various activities such as constructing new wells, reconstructing existing ones, rehabilitating wells, repairing them, installing pitless equipment, and plugging wells.
The primary categories of oil and gas well drilling services are onshore drilling services and offshore drilling services. Onshore drilling involves deploying a drilling rig deep into the ground to access fossil fuels. Services provided in onshore drilling include constructing oil and gas wells for purposes such as production, exploration, and appraisal. It also covers different well types such as vertical, deviated, and horizontal wells. The range of services includes directional and non-directional drilling, utilizing machine parts such as rigs, pipes, bits, reamers, among others.
Tariffs have impacted the oil and gas wells drilling services market by increasing costs for imported rigs, drilling tools, and machine parts. Higher duties have affected both onshore and offshore drilling projects, particularly in asia pacific and middle east regions. These tariffs have raised service costs and influenced project feasibility. However, tariff pressures have supported domestic equipment manufacturing and localized service capabilities, improving long-term market resilience.
The oil and gas wells drilling services market research report is one of a series of new reports from The Business Research Company that provides oil and gas wells drilling services market statistics, including oil and gas wells drilling services industry global market size, regional shares, competitors with a oil and gas wells drilling services market share, detailed oil and gas wells drilling services market segments, market trends and opportunities, and any further data you may need to thrive in the oil and gas wells drilling services industry. This oil and gas wells drilling services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The oil and gas wells drilling services market size has grown steadily in recent years. It will grow from $51.76 billion in 2025 to $53.42 billion in 2026 at a compound annual growth rate (CAGR) of 3.2%. The growth in the historic period can be attributed to growth in global oil and gas exploration, expansion of onshore drilling projects, technological advancements in drilling equipment, demand for new well construction, increased energy consumption.
The oil and gas wells drilling services market size is expected to see steady growth in the next few years. It will grow to $61.38 billion in 2030 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to rising unconventional resource development, investments in deepwater drilling, demand for efficient drilling services, focus on reducing drilling time, advancements in drilling automation. Major trends in the forecast period include increasing adoption of directional drilling, rising demand for offshore drilling services, growing focus on well rehabilitation, expansion of horizontal drilling activities, emphasis on operational cost optimization.
The increase in offshore production activities is expected to drive the growth of the health and wellness market in the coming years. Offshore production activities refer to business operations carried out in a country different from a company's home base. Oil and gas well drilling services support offshore production by drilling new wells and maintaining existing ones. For example, in March 2023, Rystad Energy, a Norway-based energy research and business intelligence firm, reported that offshore projects accounted for 68% of sanctioned conventional hydrocarbons in 2023, while supply chain spending on offshore activity rose by 16% to reach $21 billion. Therefore, expanding offshore production activities are contributing to the growth of the health and wellness market.
Major companies involved in offshore production activities are focusing on developing innovative technologies, such as acoustic platforms, to deliver reliable services to customers. An acoustic platform is a hardware or software system used to capture and process audio signals. For instance, in June 2023, TGT Oil and Gas Services, a Dubai-based barrier diagnostics company, introduced ChorusX, a diagnostic solution designed to detect and describe flow within oil and gas wells. The technology allows energy companies to accurately locate and monitor fluid movement across the well and reservoir system. ChorusX consists of a compact array of eight nano-synchronized sensors capable of recording high-resolution flow sounds across a wide range of intensities and frequencies.
In February 2023, SLB, a U.S.-based technology company, acquired Gyrodata Incorporated for an undisclosed amount. Through this acquisition, SLB aimed to integrate Gyrodata's advanced wellbore placement and surveying solutions into its Well Construction business to improve drilling accuracy, enhance wellbore quality, and reduce drilling risk for customers. Gyrodata Incorporated is a U.S.-based technology and services firm specializing in gyroscopic wellbore positioning, survey technology, and wellbore characterization solutions for the global energy sector.
Major companies operating in the oil and gas wells drilling services market are Saudi Arabian Oil Company, Exxon Mobil Corporation, China National Petroleum Corporation, TotalEnergies SE, Chevron Corporation, Eni S.p.A., Petroleo Brasileiro S.A. - Petrobras, Repsol YPF S.A., ConocoPhillips, China National Offshore Oil Corporation Limited, Schlumberger Limited, Baker Hughes Incorporated, Halliburton Company, Saipem S.p.A., National Oilwell Varco Inc., China Oilfield Services Limited, Weatherford International plc, Gazprom Neft Public Joint Stock Company, Nabors Industries Ltd., Transocean Limited, Helmerich & Payne Inc., Noble Corporation, Diamond Offshore Drilling Inc., Rowan Companies Inc., Valaris PLC
North America was the largest region in the oil and gas wells drilling services market in 2025. Middle East was the second largest region in the oil and gas wells drilling services market. The regions covered in the oil and gas wells drilling services market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the oil and gas wells drilling services market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The oil and gas wells drilling services market includes revenues earned by entities by providing services concerning well construction, maintenance, and reconstruction. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Oil And Gas Wells Drilling Services Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses oil and gas wells drilling services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for oil and gas wells drilling services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The oil and gas wells drilling services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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