Market Size of South And Central America Oil Field Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.61 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South and Central America Oil Field Services Market Analysis
The South and Central America oil field services market is estimated to be at USD 28.53 billion by the end of this year and is projected to reach USD 35.74 billion in the next five years, registering a CAGR of over 4.61% during the forecast period.
- Over the long term, factors such increasing number of offshore operations in the region and rising demand from unconventional hydrocarbons, like shale gas, etc, is expected to drive the market in the forecast period.
- On the other hand, as more renewable energy is used, the demand for hydrocarbons like natural gas to make electricity is expected to go down. This will slow the growth of the market during the forecast period.
- Nevertheless, shale oil and gas reserves have been discovered in Mexico and Argentina, and their exploitation is expected to create several opportunities for the South and Central American oil field services market in the future.
- Brazil is likely to see significant growth in the South and Central American oil field services market during the forecast period.
