Sand Control Systems Market By Well Type (Cased Hole and Open Hole), By Technique (Gravel Pack, Frac Pack, Sand Screens, Inflow Control Devices, and Others), By Application (Onshore and Offshore), and Region - Global Forecast to 2028
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- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global sand control systems market is estimated to value at nearly US$ 2.9 Bn in 2019, and is expected to register a CAGR of 6.8%. The global sand control systems market is segmented on the basis of well type, technique, application, and region.
Global Sand Control Systems Market: Introduction
Sand control refers to managing/minimizing sand and fine production during petroleum production. Sand and fine produced with oil and gas can cause erosion and wear of production facilities/equipment, resulting in production downtime, expensive repairs, and potentially loss of containment.
Global Sand Control Systems Market: Dynamics
Increasing number of onshore and offshore drilling activities as well as rising demand for oil & gas globally is resulting into high demand for sand control systems. This in turn is expected to drive growth of the global sand control systems market over the forecast period. In addition, increasing number of wells drilled and development of hydrocarbon reserves are among some of the major factors expected to boost growth of the global market during the forecast period.
Moreover, increasing government initiatives to cater on-going oil & gas demand volumes through implementation of various policies and Foreign Direct Investment (FDI) and also, increasing and merger and acquisition activities are some of the major factors expected to support growth of the global sand control systems market. These initiatives in turn is expected to proliferate growth of the global market in the near future.
Growing need for sand control systems that provides benefits such as reduced corrosion of equipment and increased production rate is another factor expected to fuel growth of the potential market.
Furthermore, increasing strategic partnerships and contracts for development and expansion of new and existing oil wells, coupled with development of subsea systems are other major factors which in turn expected to boost growth of the global market.
However, high costs associated with sand control tools and limitations related to operational efficiency of some sand control systems are major factors expected to restrain growth of the global sand control systems market. In addition, high-energy resin placement techniques offer an advantage over conventional matrix plastic consolidation methods, but limitations such as high cost, low success rate, and low durability is among major factor which could limit adoption of sand control systems to a certain extent.
Increasing investment by major players, coupled with rising government initiatives towards discovering new oil reserves are major factors expected to create significant revenue growth opportunities for players operating in the global market over the forecast period.
Key trend observed in the target market is adoption of combined technology such as gravel-pack system and a frac-pack system in a single platform for sand control and management. This combination supports sand control when the target is in deep-water fields, and also improves efficiency in operations under high-pressure and high-temperature. Aforementioned are factors expected to fuel growth of the target market in the near future.
Global Sand Control Systems Market Analysis, by Well type
Among the well type segments, the cased hole segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The cased hole segment is expected to register CAGR of over 6.9%, owing to its ability of retrieving logging measurement from the well by casing after completion of development/drilling operations.
Global Sand Control Systems Market Analysis, by Technique
Among the technique segments, the gravel pack segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The gravel pack segment is expected to register CAGR of over 7%, owing to increasing drilling activities of conventional oil & gas fields in developing and developed countries especially onshore regions across the globe.
Global Sand Control Systems Market Analysis, by Application
Among the application segments, the offshore segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The offshore segment is expected to register CAGR of over 7.5%, owing to increasing gas drilling activities, high presence of gas reserves, and increasing dependency on conventional oil & gas products.
Global Sand Control Systems Market Analysis, by Region
The market in North America is expected to dominate in the global sand control systems market and is expected to continue its dominance over the forecast period.
Presence of shale reserves in abundance, growing rig count, rising demand for natural gas and oil has been resulting into increasing exploration activities for new reserves, and are among some of the major factors expected to drive growth of the North America sand control system market.
Moreover, increasing demand for oil & gas in countries such as the US and Canada is resulting into rising demand for well completion services to optimize recovery and other processes in these countries. These factors are expected to support growth of the North America sand control systems market growth over the forecast period.
According to IEA’s latest forecast, oil demand has been estimated to increase by 1.4 million b/d in both 2018 and 2019
The market in Asia Pacific is expected to register second highest revenue share in the global market during the forecast period.
Growing support by governments of various countries for development of oil & gas sector, increasing private investments to support new drilling activities, and growing number of wells in Asia Pacific are among some of the major factors expected to fuel growth of the sand control systems market in countries in the region.
According to data released by the Department of Industrial Policy and Promotion, the petroleum and natural gas sector in India attracted FDI worth US$ 7 Bn between April 2000 and June 2018
The market in Latin America is expected to witness lucrative growth in the global market in the coming 10 years. Increasing drilling activities in deep and ultra-deep water reserves in Latin America is expected to result in rising deployment of sand control systems. Countries such as Mexico, Brazil, and Venezuela are known to be rich in petroleum reserves and major players are implementing sand control systems to ensure an optimal and continuous production process.
Global Sand Control Systems Market Segmentation:
Global Sand Control Systems Market Segmentation, by Well Type:
- Cased Hole
- Open Hole
Global Sand Control Systems Market Segmentation, by Technique:
- Gravel Pack
- Frac Pack
- Sand Screens
- Inflow Control Devices
- Others (rate exclusion, stand-alone screens, resin coated gravel, plastic, and consolidation)
Global Sand Control Systems Market Segmentation, by Application:
Global Sand Control Systems Market Segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Schlumberger Limited
- Weatherford International plc
- Halliburton Company
- Dialog Group Berhad
- Tendeka B.V.
- Interwell Norway AS
- Packers Plus Energy Services Inc.
- National Oilwell Varco, Inc.
- Superior Energy Services, Inc.
- Variperm (Canada) Limited
- 1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.0 Chapter 2
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Well Type
- 2.2.2 Market Snapshot, By Technique
- 2.2.3 Market Snapshot, By Application
- 2.2.4 Market Snapshot, By Region
- 2.2.5 Prudour Opportunity Map Analysis
- 2.1 Report Description
- 3.0 Chapter 3
- 1.0 Chapter 1
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