The global well intervention market is projected to reach a size of USD 11.00 billion by 2023 from an estimated USD 8.5 billion in 2018, at a CAGR of 5.35%. The study involved 4 major activities in estimating the current size for the well intervention market. Exhaustive secondary research was done to collect information on the peer and parent markets.
To provide an in-depth understanding of the competitive landscape, the report includes the profiles of companies such as GE Oil & Gas (U.K.), Baker Hughes Incorporated (U.S.), Halliburton Company (U.S.), Schlumberger Limited (U.S.), Weatherford International plc (Switzerland), Expro International Group Holdings Ltd. (U.K.), Archer Limited (U.K.), Welltec International ApS (Denmark), TechnipFMC plc (U.K.), Trican Well Service Ltd. (Canada), Basic Energy Services, Inc. (U.S.), Superior Energy Services, Inc. (U.S.), Key Energy Services, Inc. (U.S.), and Lupatech SA (Brazil), among others. The dominant players are trying to gain a foothold in developing economies and are adopting various methods to grab the market share.
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Key questions addressed by the report:
1. The report identifies and addresses key markets for Well intervention market, which would help manufacturers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and make better strategic decisions.
4. The report addresses the market share analysis of key players in the Well intervention market. With the help of this information, companies can enhance their revenues in the respective markets.
5. The report provides insights about emerging geographies for Well intervention, and the entire market ecosystem can gain competitive advantage from such insights.
The factors driving the market include upsurge in global energy demand, increase in oil & gas production, and revitalization of aging fields/wells. Increasing focus on renewable energy and strict government regulations on E&P activities are key restraints for the growth of the well intervention market.
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Objectives of the Study
• To define, describe, and forecast the global well intervention market on the basis of service type, application area, and region
• To provide detailed information about the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges
• To strategically analyze the micro-markets with respect to individual growth trends, future prospects, and contribution to the total market
• To analyze the major tools and equipment used for well intervention services
• To analyze market opportunities for stakeholders and details of the competitive landscape for market leaders
• To forecast the market size of the segments with respect to major regions, namely, the Americas, the Middle East, Europe, Asia Pacific, and Africa
• To strategically profile key players and comprehensively analyze their respective market share and core competencies
• To track and analyze developments in the well intervention market, such as new product launches, expansions, mergers & acquisitions, and new agreements
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Recent Developments
• In September 2018, Schlumberger launched the CemFIT Shield mud-sealing cementing system, which is a zonal isolation technology. The technology helps in reducing the risk of fracturing fluid migration between the zones. The company intends to develop advanced technology to expand its product portfolio.
• In September 2018, BHGE was awarded an integrated services contract by Saudi Aramco for its Marjan field to provide drilling services, coiled tubing services, and drilling fluids engineering services. BHGE intends to expand its customer base through such contracts.
• In September 2018, Halliburton launched the next-generation wireline logging sensor as Xaminar Magnetic Resonance (XMR) to improve reservoir insights. XMR delivers more detailed information about 2D and 3D fluid characterization, carbonate pore size classification, unconventional analysis, and permeability.
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