Well intervention Market Overview
One of the major factors driving the growth of the
market is the continuous depletion of oil reserves and the ever-increasing demand
for oil all over the world. There is a rapid increase in demand for energy
owing to factors such as rapid urbanization and industrialization. The growth
in demand for energy is also driving the growth of the oil and gas industry.
So, there is a rise need for enhancement of production so as to meet the
growing demand for energy, especially oil and gas, which is further driving the
market for well intervention. The other factors driving the growth of the
market are the increase in production of oil & gas and regeneration of
aging fields/wells. However, the growth of the market is restrained by factors
such as strict rules and regulations and the increasing focus on renewable
energy.
The major benefits of well intervention services such
as cleaning up of wells, stimulation of well for making it production ready by
enhancing the flow of hydrocarbons in it, monitoring all the on-going
operations in the wells, providing annular seal for isolating certain sections
of the well and others make these services an essential component of the oil
and gas exploration and production process, which is fueling the growth of the
global well intervention market. The increased exploration and production
activities in oil and natural gas industry are simultaneously leading to the
expansion of the global well intervention market during the forecast period.
Well intervention Market Segmentation
The global well intervention market has been segmented
on the basis of services and applications.
Based on services, the well intervention market has
been segmented into logging & bottom hole survey, stimulation, artificial
lift, re-perforation and others.
Based on applications, the well intervention market
has been segmented into on-shore and off-shore. The off-shore application
segment of the global well intervention market is projected to grow at the
fastest rate owing to the high demand for well intervention services on the
off-shore oil rigs due to the harsh environmental conditions.
Based on region, the market is segmented into North
America, Europe, Asia-Pacific and Rest of the World.
Well intervention Market Prominent Players
The key players of well intervention market are GE Oil
& Gas (U.K.), Halliburton Company (U.S.), Schlumberger Limited (U.S.),
TechnipFMC plc. (U.K.), Baker Hughes Incorporated (U.S.), Weatherford
International plc. (Switzerland), Archer Limited (U.K.), Trican Well Service
Ltd. (Canada), Superior Energy Services, Inc. (U.S.), Basic Energy Services,
Inc. (U.S.) and Others.
Regional Analysis
The North America region is the largest in the well
intervention market, owing to factors such as ongoing shale gas revolution in
the region. The market is also expected to be driven by the increasing
production activities in the region. Asia-Pacific and Africa are the emerging
regions in the well intervention market, owing to the increased use of
intervention services in shale and oil services.
View
More Info at: https://on.mktw.net/2UlOqPX
About
Market Research Future:
MRFR team have supreme objective to
provide the optimum quality market research and intelligence services to our
clients. Our market research studies by Components, Application, Logistics and
market players for global, regional, and country level market segments, enable
our clients to see more, know more, and do more, which help to answer all their
most important questions.
Contact:
Market Research Future
+1 646 845 9312
No comments:
Post a Comment