Market
Scenario
Sand control systems is one of the major
parts in oil & gas production system. It helps eliminate the sand
production in the wellbore. The system plays a major role in the completion
process and it recovers the performance and the productivity of the well.
Nowadays, most of the world’s oil and gas wells produced from unconsolidated
sandstones produce sand with reservoir fluids. Problems associated with sand
production include plugging of perforation tunnels, accumulation in surface
separators, sanding up of the production interval, and potential failure of
downhole and surface equipment from erosion. Such problems can pose economic
and safety risks.
There are several techniques for
minimizing sand production from wells. The choices range from simple changes in
operating practices to expensive completions, such as sand consolidation or
gravel packing. The sand control method selected depends on site-specific
conditions, operating practices, and economic considerations.
The sand
control systems market is growing at a high pace and is expected to
continue grow at the same pace over the forecast period. Due to fluctuating
prices of crude oil, global sand control systems market is gaining traction
from the major oil producing companies to lift production of active oilfields.
According to MRFR analysis, the global sand control systems market is estimated
to expand at a CAGR of 4.7% during the estimated period (2017-2023).
Industry
Segmentation
The global sand control systems market has
been segmented based on technique, well type, application, and region. On the
basis of technique, the market has been segmented into Gravel Pack, Frac Pack,
Sand Screens, Inflow Control Devices and others. The gravel pack dominated the
technique segment of the market due to the increased drilling of the oil and
gas field in the onshore regions. The inflow control devices segment is
projected to grow at the fastest rate during the forecast period.
On the basis of well type, the market has
been segmented onshore and offshore. Onshore dominates the well type segment of
the market. Existence of huge onshore oil & gas wells is the major factor
for the largest market share of the onshore segment in the sand control systems
market.
Offshore segment is projected to be the
fastest growing segment during the forecast period, mainly due to rising deep
& ultra deepwater drilling activities, across the globe.
Competitive
landscape
Global sand control systems market seems
to be extremely uneven and competitive owing to the presence of several large
and medium players active in regional market. The key strategies traced from
the analysis of recent developments of the key players include product launch,
acquisition and expansion, agreement & partnership. Strategic partnerships
between key players support the growth and expansion plans of the key players
during the forecast period.
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Complete Research Report @ https://www.marketresearchfuture.com/reports/sand-control-systems-market-1004
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