Well
Intervention Market Highlights
The well intervention market is expected to grow over
the CAGR of around 3.5 % during the period 2017 to 2023. 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 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.
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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