The North American well intervention market report defines and segments the well intervention services market in North America with analysis and forecast of revenue. The well intervention market in North America is estimated to grow at a CAGR of 10.1% from 2013 to 2018.
Browse through the TOC of North America Well Intervention Market for an analysis of industry trends and segments, with help of various tables and figures.
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The growing energy demand and continuous depletion of existing oil reserves are forcing E&P companies in North America to operate in offshore environments, making it a huge potential market for well intervention. To satisfy the increasing demand of oil and gas, oil companies are seeking to unlock the full potential of wells. Hence, new advanced well intervention equipment and technologies are crucial for full exploitation of existing wells.
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North America is a major market, wherein U.S. holds a maximum share in the well intervention market. U.S. contributed a major share of around 59%, as of 2013, in the North American well intervention market.
The services market in North America is led by logging & bottom hole intervention, followed by tubing/packer failure & repair, and fishing services. The logging & bottom hole intervention market held around 19% market share in the North American well intervention market in 2013. Well logging is very important well intervention service as it is the only tool to know the actual condition of a well and it is used for the entire life of the well. This includes the detailed process of recording and analyzing well log data survey.
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The application market is dominated by onshore market in North American well intervention market. Since most of the onshore wells in North America are matured, there is a large need of well intervention services to increase the oil & gas production in those existing wells.