The Drilling and Completion Fluids Market in North America is estimated to grow at a CAGR of 4.2% from 2014 to 2019.
(PRWEB) April 13, 2015
The Drilling and Completion Fluids Market in North America is estimated to grow from $5,938.0 million in 2014 to $7,302.6 million by 2019, at a CAGR of 4.2% from 2014 to 2019.
Browse through the TOC of the North America Drilling and Completion Fluids Market report, to get an idea of the in-depth analysis provided. The report also provides a glimpse of the segmentation in the North America drilling and completion fluids market, supported by various tables and figures.
The increasing energy demand, rise in population, and discovery of new shale reserves are putting pressure to drill at high depths and in deep and ultra-deep water locations. The recent increase in oilfield discoveries and rise in drilling activities, especially for those focusing on crude oil, have been the major drivers of the North America drilling and completion fluids market. In addition, the price trend of crude oil and natural gas will support remote offshore sites and shale exploration.
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North America holds the largest market for drilling and completion fluids given the presence of half of the world's oil & gas reserves in this region. The U.S. has the maximum number of shale reserves as compared to other regions. Offshore activities in the Gulf of Mexico are on the rise, supporting companies to expand within the region, due to which top drilling and completion fluids manufacturers are based in North America. The U.S. was the largest market in North America in 2013 and accounted for more than half of the North America drilling and completion fluids market share.
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This market has been segmented and forecast on the basis of type, application, and geography. The market based on type includes water-based systems, oil-based systems, synthetic-based systems, and others. The market on the basis of application has been categorized into offshore and onshore regions. The market has been further segmented on the basis of major countries, such as the U.S. and Canada.
This report also includes market share and value chain analyses, and market metrics such as drivers and restraints. In addition, the report presents a competitive landscape and company profiles of key players in the market, including major companies which provide drilling fluids.
Europe Drilling and Completion Fluids Market
The European drilling and completion fluids market is expected to grow at a CAGR of 6.5% during the forecast period. Drilling and completion fluids are essential consumables for conducting any drilling and exploration activities.
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