Well Cementing Services Market will boost $11.08 Billion By 2024: Grand View Research, Inc.


Posted April 5, 2017 by adamhurdle023

According to new report by Grand View Research, The global well cementing services market size was USD 7.44 billion in 2015. The rising energy demand is anticipated to increase the market growth

 
The global well cementing services market is expected to reach USD 11.08 billion by 2024, according to a new report by Grand View Research, Inc. Rising drilling activities to recover unconventional hydrocarbons such as shale and tight gas coupled with rehabilitation activities in existing oil & gas fields is expected to remain a key driving factor for the global market.

A large number of unexplored reserves particularly in Brazil, Russia, and China, coupled with technological advancements in well cementing equipment and services provided by oil service providers is projected to have a positive impact on the market growth in near future.

Stringent environmental regulations coupled with low crude oil prices are expected to hindermarket growth over the next eight years. Low crude oil prices are anticipated to support stronger economic growth, but it may hamper growth among energy producing states.

Primary cementing was the leading service segment and accounted for over 75% of total market revenue in 2015. It is estimated to remain the largest segment over the next eight years owing to rising E&P to exploit unconventional hydrocarbon reserves.Remedial cementing is anticipated to emerge as the fastest growing well cementing service market over the forecast period owing to increasing rehabilitation of oil & gas wells in both onshore and offshore activities.

Access Research Report On Well Cementing Services Market Analysis: http://www.grandviewresearch.com/industry-analysis/well-cementing-services-market

Further key findings from the report suggest:

Onshore application dominated the global well cementing service demand and accounted for over 80% of total revenue in 2015. The rising onshore well operations, particularly in the U.S., Saudi Arabia, Russia, and China,may be attributed to the high growth in this particular segment.
North America emerged as the leading well cementing services consumer and accounted for 41.4% of the total revenue in 2015 owing to huge oil & natural gas production coupled with oilfield development especially in shale &tight oil reserves in the U.S. and Canada.
Asia Pacific well cementing services marketis anticipated to grow at a CAGR of 7.0% from 2016 to 2024.The high growth may be attributed to favorable government policies such as FDI and tax redemption in countries such as India, which is anticipated to promote E&P in the region.
The global industry is dominated by various integrated players present across the value chain. Key companies operating in the well cementing service market includeSchlumberger Ltd., Baker Hughes Inc., Halliburton, Weatherford & Gulf Energy Llc., and Calfrac Well Services Ltd.
Read Our Blog: http://www.grandviewresearch.com/blogs/energy-and-power

Grand View Research has segmented the well cementing services market on the basis of service, application,and region:

Global Well Cementing Service Outlook (Revenue, USD Million, 2014 - 2024)

Primary
Remedial
Others
Global Well Cementing Application Outlook (Revenue, USD Million, 2014 - 2024)

Onshore
Offshore
Global Well Cementing Regional Outlook (Revenue, USD Million, 2014 - 2024)

North America
US.
Canada
Mexico
Europe
Norway
UK
Russia
Asia Pacific
China
India
Indonesia
Middle East & Africa
Saudi Arabia
UAE
Nigeria
Central & South America
Brazil
Venezuela
About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
For More Information: www.grandviewresearch.com
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Grand View Research, Inc.
Website Well Cementing Services Market
Business Address San Francisco
CA 94105
Country United States
Categories Business , Research
Tags well cementing services market
Last Updated April 5, 2017