Global Smart Well Market - Overview
A
smart well refers to an advanced well that uses sensors and valves to enable
control on pressure and rates down-hole, to optimize the production performance
and enhance oil reservoir recovery. Smart wells are installed with down-hole
equipment that allows operators to control the well remotely, meaning, without
intervention with the use of rigs or coiled tubing.
The
global smart well market is estimated to garner a staggering CAGR during the
forecast period according to the latest research study conducted by Market
Research Future (MRFR). An upsurge in demand for oil and gas is fueling the
market growth for smart wells. Numerous technological advancements are likely
to improve the efficiency, control, and monitoring, boosting demand for smart
well installations in the market.
Get Free Sample @ https://www.marketresearchfuture.com/sample_request/2623
Also,
the overall recovery is enhanced, along with the facilitation of production
from unconventional resources such as sands reserves and shale gas. Further,
rapidly ascending investments by industry enterprises is also pushing the
market growth for smart wells. Growth in the drilling and completion activities
worldwide is directly influencing the augmentation of the global smart well
market. Furthermore, increased use of horizontal and multilateral wells is also
likely to pose as a significant market driver for smart wells. However, uncertainties
with low crude oil prices are predicted to act like a key market restraint for
the smart wells market.
Smart Well Market
Segmentation
The
global smart wells market has been segmented on the basis of well-type and
region to derive insightful and accurate analysis.
Based
on well-type, the global Smart Wells Market is segmented into on-shore and off-shore smart wells.
The
onshore segment is likely to capture the largest market share during the
forecast period, owing to the elimination of non-productive tie, increased
productivity, and maximization of oilfield recovery.
Detailed Regional
Analysis
The
smart well market has been regionally segmented by Market Research Future
(MRFR) into North America, Europe, Asia-Pacific, and Rest of the World.
The
global smart well market is led by North America, due to significant value
generation activities in the market recorded in the region. Further, North
America is predicted to grow at a higher rate due to the exploration of new
reserves, creation of new growth avenues for the exploration & production
activities due to numerous technological developments.
The
APAC is estimated to register a robust CAGR in the forecast period. The growth
in Asia Pacific is primarily attributed to the shale activity in China and the
increasing oil and gas exploration in the emerging economies such as India and
Indonesia. Furthermore, a rise in the offshore oil and gas exploration
activities coupled with enhanced oil recovery techniques are likely to push the
Asia Pacific market. Market Research Future (MRFR) has asserted in its latest
report on the global smart well market that Asia Pacific is estimated to emerge
as the fastest growing region in the global market.
Key Players
In
its latest report, Market Research Future (MRFR) has profiled some of the elite
players in the global smart well market. The prominent players mentioned in the
report include Baker Hughes, Halliburton, Schlumberger, Weatherford
International, National Oilwell Varco, Superior Energy Services, Inc. Trican
Well Service Ltd., RPC Inc., Nabors Industries Ltd, and Salym Petroleum
Development N. V.
Industry Update
March
2019: Russia launched their first two smart oil wells on 26th March 2019, in
the fields of Perm Krai. It is noted that it the first project of its kind that
is fully operating in the country.
Browse Complete Report at: https://www.marketresearchfuture.com/reports/smart-well-market-2623
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
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.
No comments:
Post a Comment