The growth of the well intervention market is driven
by the increasing pressure on the oil field operators to increase the
production of the hydrocarbons. The gradual depletion of the existing oil and
gas natural reserves is leading to the increase in the use of well intervention
services. The maturity of the existing
oil and gas wells has increased the need for maintenance of oil wells to
increase the productivity. The well intervention industry is important to both
the equipment manufacturers and the service operators. Owing to factors such as
an increased demand for oil and the drop in replacement of depleting
hydrocarbon reservoirs, the well intervention market is expected to experience
a gradual increase in demand of well intervention.
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Segmentation
The market has been analyzed based on the services,
applications and regions. Amongst all kinds of service, the well stimulation
service is expected to grow the fastest. The growth of the well stimulation
services can be attributed to the increase in demand for matrix treatments
along with hydraulic fracturing. The production from wells is affected by skin
formation, near the wellbore area and well stimulation services help restore
and enhance the production.
Based on applications, the well intervention market
can be segmented as onshore and offshore. The offshore well intervention
segment is expected to grow the highest owing to the increasing E&P
activities in the market. At the same time, the onshore well intervention
application segment is gaining maturity. However, the revitalization of aging
onshore wells, is expected to contribute to the growth of the onshore well
intervention.
Leading
Players
The key players of global 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.
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Market
Research Analysis
The factors responsible for the growth of the global
well intervention market include the use of well intervention services in shale
as well as oil wells. The North America region is the largest market for well
intervention. The U.S. market for well intervention is expected to be driven by
the ongoing shale gas revolution in the region. The Africa market is
experiencing continuous oil & gas field development, which is expected to
boost the need for well intervention/work over services. Increasing production
activities in the American offshore is expected to drive the well intervention
market in the future. Asia-Pacific and Africa are the emerging regions in the
well intervention market and are expected to demand well intervention services
in the forecast period.
Scope
of the Report
This study provides an overview of the global well
intervention market, tracking two market segments across four geographic
regions. The report studies key players, providing a five-year annual trend
analysis that highlights market size, volume and share for North America,
Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also
provides a forecast, focusing on the market opportunities for the next five
years for each region. The scope of the study segments the global Well
intervention Market by its service, application and region.
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