Global Well Intervention Market is expected to reach USD 17.76
billion by 2025, according to a new report by Grand View Research, Inc.
Development of new oilfields has been a major factor driving market growth.
Employment of well intervention services has increased owing to the growing
need for energy.
Well intervention services have various uses in drilling
operations including, monitoring pressure & temperature at the reservoir.
It is also utilized for transporting fluids and gasses to and fro the
reservoir, stimulating the well and making it ready for production by
increasing the flow of hydrocarbons, and isolating desired sections by means of
annular seals.
Well intervention services are utilized extensively for
E&P activities and well cleanup purposes.
Monitoring of various activities
in the well reservoir, and the ongoing operations, including, perforations,
radioactivity, temperature, cementing, noise, plug and packer settings, have
become of utmost importance; owing to the high amount of risk. On account of
this scenario, logging and bottom hole survey was the largest service category
in 2016 and is projected to show a steady growth over the next eight years. The
logging and bottom hole survey segment had a market share of 22.1% in 2016.
Offshore is expected to be the fastest growing segment in
the application category over the forecast period with an estimated CAGR of
5.1% from 2016 to 2025. A lot of logistics are required for offshore
exploration & production activities. The equipment utilized for offshore
drilling operations is also expensive as it has to withstand the pressure &
temperature of the water bodies as well as the drilling activity. This factor
is anticipated to positively drive the offshore segment growth over the
forecast period of 2017 to 2025.
Full Research Report on Global Well Intervention Market
Analysis:
http://www.grandviewresearch.com/industry-analysis/well-intervention-market
http://www.grandviewresearch.com/industry-analysis/well-intervention-market
Further key findings from the report suggest:
- The
global well intervention demand was USD 12.45 billion in 2016 and is
expected to grow at a CAGR of 4.2% from 2017 to 2025
- Logging
and bottom hole survey emerged as the largest service segment in 2016 and
is estimated to generate revenue over USD 3.95 billion by 2025
- Stimulation
is anticipated to be the fastest growing service segment over the next eight
years and is estimated to grow at a CAGR of 6.1%
- The
well intervention demand in onshore application was USD 8.15 billion in
2016 and is anticipated to witness steady growth over the next eight years
- The
U.S. offshore well intervention market in applications category was worth
USD 2.28 billion and is estimated to reach USD 3.5 billion by 2025
- The
Middle East & Africa region is anticipated to witness high growth at a
CAGR of 5.7% by 2025. Recent developments in offshore activities such as
increasing oil production in various countries including Qatar and Iran is
expected to drive E&P market over the next eight years
- Key
players of the industry include Baker Hughes, Archer Limited, Halliburton,
Weatherford International, and Schlumberger. These major players are often
indulged in mergers, joint ventures, & acquisitions, in order to
expand their product portfolio and gain market share
View more reports of
this category by Grand View Research at: http://www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments
Grand View Research
has segmented the Global Well Intervention Market on the basis of service,
application, and region:
Well Intervention Service Outlook (Revenue, USD Million,
2014 - 2025)
- Logging
& Bottom Hole Survey
- Tubing/Packer
Failure & Repair
- Stimulation
- Remedial
Cementing
- Zonal
Isolation
- Sand
Control Services
- Artificial
Lift
- Fishing
- Re-Perforation
- Others
Well Intervention Application Outlook (Revenue, USD
Million, 2014 - 2025)
- Onshore
- Offshore
Well Intervention Regional Outlook (Revenue, USD Million,
2014 - 2025)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Russia
- Asia
Pacific
- China
- Australia
- Central
& South America
- Brazil
- Argentina
- Middle
East & Africa
- Saudi
Arabia
- Algeria
- South
Africa
View Press Release of this research report by Grand View
Research: http://www.grandviewresearch.com/press-release/global-well-intervention-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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