The global completion equipment and services market was expected to be valued at $10.7 billion in 2014. This value is estimated to increase to $13.0 billion by 2019, at a CAGR of 3.9%
(PRWEB) April 26, 2015
This report estimates the completion equipment and services market size in terms of $million. This has been broken down into component regions and further split into countries.
Completion equipment and services are required to complete the drilling process of an oil & gas well to commence production. The ever-increasing exploration & production activities across the globe and new areas of unconventional resources are the main drivers of the completion equipment and services market. However, issues associated with the environment and increased seismic activities have slowed down the growth of this market. Browse 69 market data tables & 46 figures spread through 158 pages and in-depth TOC on "Hydraulic Workover Unit Market" at http://www.rnrmarketresearch.com/completion-equipment-market-by-type-packers-sand-control-tools-multi-stage-fracturing-tools-liner-hangers-smart-wells-safety-valves-and-other-geography-global-trends-forecast-to-2019-market-report.html
In addition, the growth of the completion equipment and services market is directly proportional to the on-going drilling and completion activities around the world. On the basis of various factors such as geological condition, type of reservoir etc., different types of completion equipment and services are required to assist the drilling & exploration activities.
Growth in drilling and exploration activities is attributed to the continuous increase in world energy demand. These activities are expected to grow further as the world energy demand for oil reaches around 4 GTOE by 2020. This rise has resulted in increased drilling and completion activities across geographies. It has also put pressure to extract more from each well, and thus, further deep exploration is carried out. This increase in drilling activities has raised the requirement for completion equipment and services.
Leading market players of this industry have also been profiled with their recent developments and other strategic industry activities. These include Baker Hughes Incorporated, Halliburton, Weatherford International, Schlumberger Ltd, Packers Plus Energy Services Inc, National Oilwell Varco, Nabors Industries Ltd, Trican Well Service Ltd, RPC Inc, Superior Energy Services Inc, Welltec As, FTS International, Nine Energy Services Inc and NCS Multistage. Order a copy of this report at http://www.rnrmarketresearch.com/contacts/purchase?rname=179380
North America accounted for more than 40% of the total market share in 2014. In North America, the U.S. is the largest market, and is led by Halliburton (U.S.), Schlumberger (U.S.), Baker Hughes (U.S.), and Superior Energy Services (U.S.). On the other hand, Chinese and a few Asian players are expected to grow in the near future.
The completion equipment and services market has been segmented in six regions, namely North America, South America, Europe, Africa, Asia-Pacific, and the Middle East. The report also touches on various other important aspects of the market. It includes an analysis of the value chain, Porter’s Five Forces’ analysis, and a competitive landscape. In addition, 11 key players of this market have also been profiled. Priced at $4650 for a single user PDF, a discount on “Completion Equipment and Services Market by Type (Packers, Sand Control Tools, Multi-Stage Fracturing Tools, Liner Hangers, Smart Wells, Safety Valves, and Other), by Application (Onshore, Offshore) & Geography – Global Trends & Forecast to 2019” research report can be requested at http://www.rnrmarketresearch.com/contacts/discount?rname=179380 .
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