Sand Control Systems Market is expected to reach USD 4,873.4 Million Globally by 2020: Transparency Market Research
Albany, NY (PRWEB) March 03, 2015 -- Transparency Market Research has released a new market report titled Sand Control Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2020. The report defines and segments the sand control systems market, providing analysis and forecast of the global revenue. According to the report, the global sand control systems market was valued at USD 2,600.0 million in 2012 and is likely to reach USD 4,873.4 million by 2020, expanding at a CAGR of 8.18% between 2014 and 2020.
Technique segments analyzed in this study include rate exclusion, plastic consolidation, resin coated gravel, stand-alone screens, gravel packing, frac pack, and others (high energy resin placement and selective completion practices). The gravel packing technique is expected to be the most dominant technique segment in terms of global demand for the sand control systems market. It accounts for the largest share of the sand control systems market. In 2012, the gravel packing technique accounted over 29.0% of the total sand control systems market and is expected to remain the dominant technique by 2020. It is one of the oldest and most widely used techniques used in both offshore and onshore crude oil and natural gas wells. Its flexibility allow gravel packing of any type of well of any deviation. This has been mainly due to the large number of drilling and completion activities supplemented by vast research and development activities. The selection of sand control methods depend on various parameters such as clay content, interval length, grain size distribution, operational cost, flow rate, and well deviation.
Browse the full Sand Control Systems Market Report : http://www.transparencymarketresearch.com/sand-control-systems.html
According to estimates, Asia Pacific is expected be the potential market for sand control systems by 2020. Emerging economies and increasing population propels the demand for sand control systems, especially in Asia Pacific countries such as India and China. Four of the top five crude oil importing countries in the world are Japan, India, China, and South Korea as per 2013 estimates. Increasing number of drilling activities in countries such as Australia, Indonesia, Myanmar, and Malaysia is likely to boost the market for sand control systems. It is projected that Asia Pacific would account for over 27.0% of the total sand control systems by 2020. The discovery of offshore fields in RoW countries such as Mozambique, Tanzania, and Egypt has boosted the demand for sand control systems in RoW region. Moreover, rise in number of drilling activities in West Africa and Latin America, especially in deep and ultra deep-water reserves have accelerated growth of the sand control systems market. Large numbers of oilfield service companies are implementing sand control systems in offshore reserves at the beginning of the drilling process to ensure a continuous and optimal production process. Companies are investing large amounts of money to extract substantial volumes of crude oil and natural gas from these reserves. Presently, countries in the Middle East export large volumes of crude oil to customers across the globe. Countries such as Brazil, Venezuela, Nigeria, and Angola are rich in petroleum reserves. These reserves are sufficient to bridge the demand supply gap prevailing in the world to a certain extent, which is also helping to maintain energy security.
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Thus, Asia Pacific and RoW regions are lucrative markets for sand control systems in future owing to many opportunities. Hence, the sand control systems market is anticipated to rise at a healthy rate during the forecast period.
Companies such as Baker Hughes, Inc., Grit Industries, Inc., Halliburton Company, Ceradyne, Inc., RPC, Inc., Schlumberger Limited, Superior Energy Services, Inc., Variperm (Canada) Limited, Weatherford International Ltd., and Welltec A/S are expected to dominate the market in the near future.
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Sand control systems Market: Technique Segment Analysis
- Rate exclusion
- Plastic consolidation
- Resin coated gravel
- Stand-alone screens
- Gravel packing
- Frac pack
Others (high energy resin placement and selective completion practices)
Sand control systems Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
Browse full Press Release & Segmentation : http://www.transparencymarketresearch.com/pressrelease/sand-control-systems.htm
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Mr. Nachiket, Transparency Market Research, http://www.transparencymarketresearch.com, +1 518-618-1030, [email protected]
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