Global Oilfield Service Market Tops $128 Bln; Demand Rises for Directional Drilling & Fracturing Equipment
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The global drilling service market is projected to surpass $128 billion in 2026, representing a 6.2% year-on-year increase. Driven by global energy security strategies, demand for directional horizontal drilling, high-temperature high-pressure deep well hardware and shale oil fracturing equipment stays strong. The value of drilling contracts in the Middle East rose 9.7% year-on-year, while China and India across the Asia-Pacific region have increased procurement of unconventional oil and gas exploration equipment. Leading service providers including Schlumberger, Halliburton and Sinopec Oilfield Service are upgrading digital exploration equipment in tandem. Intelligent logging-while-drilling tools and remote unmanned drilling platforms have been rolled out on a large scale, shortening the technology upgrade cycle for the entire exploration sector.
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Weihai Sunfull Geophysical Exploration Equipment Co.,Ltd
No. 1517-7, Hexing Road, High-tech Industrial Development Zone, Weihai City, Shandong Province, China