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The North American fluid handling services market is projected to grow from $2.10 billion in 2023 to $3.5 billion by 2033, with a CAGR of 5.24%. Key drivers include the increasing demand for filtration and pumping services across industries such as oil & gas, chemicals, and pharmaceuticals, while challenges include high initial costs and a shortage of skilled labor.
Big energy companies argue that the soaring electricity demand from data centers could positively impact climate efforts. Executives, including Cam Hosie from SLB, describe this surge in demand as the "greatest blessing" for the energy transition, suggesting it may drive the development of more sustainable power sources.
Schlumberger Limited, the leading company in oil and gas exploration and production, has a diverse revenue stream with well development and construction accounting for 39.9% of net sales. Other significant segments include oil production equipment (27.6%) and reservoir optimization services (19.5%). Geographically, sales are primarily from the Middle East and Asia (32.2%) and Europe/CIS/Africa (25.6%).
As inflation eases and interest rates decline, investors are encouraged to focus on long-term growth stocks in technology, healthcare, and energy sectors. Six top growth stocks, including Dynatrace and Medpace, exhibit strong earnings and sales growth, positioning them for substantial returns over the next decade. Staying patient with these investments can harness the power of compounding, enhancing overall wealth.
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