The report "Well Intervention Market by Services (Logging & Bottomhole Survey, Tubing/Packer Failure & Repair, Stimulation, Sand Control, Artificial Lift, Fishing, Others), Application (Onshore & Offshore), and Region - Global Trends & Forecast to 2022", The well intervention market is expected to grow from an estimated USD 8.18 Billion in 2017 to USD 9.85 Billion by 2022, at a CAGR of 3.78%, from 2017 to 2022.
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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Scope of the Report
By Service, the Well Intervention Market has been segmented into the following:
o Logging and Bottomhole Survey
o Tubing and Packer Failure and Repair
o Stimulation
o Remedial Cementing
o Zonal Isolation
o Sand Control Services
o Artificial Lift Services
o Fishing
o Reperforation
o Others*
Others* include water shut off, casing repair, horizontal well sand control, well abandonment, sand washing, and paraffin/asphaltene/hydrates removal, among others
By Application, the Well Intervention Market has been segmented into the following:
o Onshore
o Offshore
By Offshore Intervention Type , the Well Intervention Market has been segmented into the following:
o Light Intervention
o Medium Intervention
o Heavy Intervention
By Region, the Motor Soft Starter Market has been segmented into the following:
o North America
o Europe
o Asia-Pacific
o South and Central America
o Middle East
o Africa
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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