Oil & Gas Drilling in China - Industry Market Research Report

Revenue for the Oil and Gas Drilling industry in China is expected to increase 12.6% annually over the five years through 2023, but year-on-year growth is volatile. Growth in China's economy has been slowing down, which has led to a decline in the domestic crude oil price. As a result, revenue was fluctuated in the five-year period and has had varied growth since, with an estimated 5.6% increase in 2023 to $284.1 billion. Inflation and COVID-19 have increased industry volatility over the past five years. Profit margins have recovered to 18.2% in 2023. The Oil and Gas Drilling industry operates oil and gas fields. Activities include the exploration for crude oil and natural gas; drilling, completing and equipping wells; and other activities to make crude oil and natural gas marketable, to the point of shipment from the producing property. This industry also includes mining and extracting oil from oil shale and oil sands, and the production of liquid hydrocarbons and natural gas. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.