Global Well Completion Equipment and Services Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global well completion equipment and services market in its upcoming report titled, “Global Well Completion Equipment and Services Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global well completion equipment and services market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global well completion equipment and services market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global well completion equipment and services market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions and mergers, and market footprint. The global well completion equipment and services market report has been segmented on the basis of type, application, and region.

Well completion is the method of making a drilled well equipped for production of oil and gas. The equipment that are used to make a well are known as well completion equipment and are employed to reduce installation costs, time, and risks, where the reservoir is solid and well–known. Well completion services include casing, perforating, gravel packing, cementing, and installation of a production plant. The technical issues related with production, mechanical and technical issues related with equipment, and well can be resolved by using well completion services system. It helps to reduce damage & operational cost and to increase production.

The major driving factor for the global well completion equipment and services market includes shale gas inflation in the U.S., new additions to recoverable resources, and increase in production rate. Stringent environmental policies and regulations, coupled with a fall in the number of refineries are observed as the major restraining factors for well completion equipment and services market.

On the basis of application, the global well completion equipment and services market is segmented into onshore and offshore. The offshore application segment for the global well completion equipment and services market is predicted to grow at fastest pace during the forecast period. The dwindling in oil and gas reserves in onshore fields have forced operators to venture toward offshore regions. This trend is anticipated to continue in the near future, as the increase in drilling activities in deepwater and ultra-deepwater reservoirs will fuel the demand for well completion equipment and services.

The Asia-Pacific and North America dominates global well completion equipment and services market. In North America, shale revolution and presence of the huge number of drilled but uncompleted (DUC) wells are the factors propelling growth of the global well completion equipment and services market. The Asia-Pacific region is anticipated to hold a significant share of the global oil and gas demand from both residential and industrial sector. This demand is foreseen to rise in the near future, owing to increasing transportation sector in emerging countries. Thus, investments in oil and gas industry are being made to expand the production capacity, which is expected to drive demand for well completion equipment and services in this region.

Global Well Completion Equipment and Services Market Segmentation:

Global well completion equipment and services market segmentation by type:

• Packers
• Sand Control Tools
• Liner Hangers
• Valves
• Others

Global well completion equipment and services market segmentation by application:

• Onshore
• Offshore

Global well completion equipment and services market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa