Well Intervention Market 2019- Global Industry Analysis, By Key Players, Size, Segmentation, Trends and Forecast to 2023


Posted May 10, 2019 by DhanashreePawar

Well intervention Market Information Report by service (Logging & bottom hole survey, Stimulation, Artificial Lift, Re-perforation and Others), By Application (Onshore and Offshore) and By Region

 
Well intervention Market Overview

One of the major factors driving the growth of the market is the continuous depletion of oil reserves and the ever-increasing demand for oil all over the world. There is a rapid increase in demand for energy owing to factors such as rapid urbanization and industrialization. The growth in demand for energy is also driving the growth of the oil and gas industry. So, there is a rise need for enhancement of production so as to meet the growing demand for energy, especially oil and gas, which is further driving the market for well intervention. The other factors driving the growth of the market are the increase in production of oil & gas and regeneration of aging fields/wells. However, the growth of the market is restrained by factors such as strict rules and regulations and the increasing focus on renewable energy.

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The major benefits of well intervention services such as cleaning up of wells, stimulation of well for making it production ready by enhancing the flow of hydrocarbons in it, monitoring all the on-going operations in the wells, providing annular seal for isolating certain sections of the well and others make these services an essential component of the oil and gas exploration and production process, which is fueling the growth of the global well intervention market. The increased exploration and production activities in oil and natural gas industry are simultaneously leading to the expansion of the global well intervention market during the forecast period.

Well intervention Market Segmentation

The global well intervention market has been segmented on the basis of services and applications.

Based on services, the well intervention market has been segmented into logging & bottom hole survey, stimulation, artificial lift, re-perforation and others.

Based on applications, the well intervention market has been segmented into on-shore and off-shore. The off-shore application segment of the global well intervention market is projected to grow at the fastest rate owing to the high demand for well intervention services on the off-shore oil rigs due to the harsh environmental conditions.

Based on region, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.

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Well intervention Market Prominent Players

The key players of well intervention market are GE Oil & Gas (U.K.), Halliburton Company (U.S.), Schlumberger Limited (U.S.), TechnipFMC plc. (U.K.), Baker Hughes Incorporated (U.S.), Weatherford International plc. (Switzerland), Archer Limited (U.K.), Trican Well Service Ltd. (Canada), Superior Energy Services, Inc. (U.S.), Basic Energy Services, Inc. (U.S.) and Others.

Regional Analysis

The North America region is the largest in the well intervention market, owing to factors such as ongoing shale gas revolution in the region. The market is also expected to be driven by the increasing production activities in the region. Asia-Pacific and Africa are the emerging regions in the well intervention market, owing to the increased use of intervention services in shale and oil services.

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Categories Energy
Tags well intervention market , well intervention market demand , well intervention market trends
Last Updated May 10, 2019