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).
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.
Competitive Dashboard
The
key players of the global sand control systems market are Schlumberger Limited
(France), Halliburton Inc. (U.S.), Baker Hughes Incorporated (U.S.),
Weatherford International (Switzerland), and National Oilwell Varco (U.S.). Oil
States International (U.S.), Tendeka (U.K), Welltec (Denmark), Packers Plus
Energy Services Inc. (Canada), and Superior Energy Services, Inc. (U.S.) are
among others.
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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.
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Regional Outlook
On
the basis of region, the market has been segmented into North America, Europe,
Asia Pacific, and Rest of the World. Asia Pacific region dominates the global
sand control systems market in 2017. Increasing population and rapid industrial
development are leading to increase in energy demands, which push oil and gas
exploration activities. Oil and gas exploration activities are well underway in
countries such as Malaysia, Australia, Indonesia, and Myanmar. This drives the
sand control systems market.
Middle
East & Africa is another prominent region for the sand control systems.
Nigeria, Saudi Arabia and UAE, are the biggest oil and gas exporters. Growing
investments in the region by various companies such as Saudi Aramco, a national
petroleum & natural gas firm in Saudi Arabia, are driving the market.
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