Allied Market Research

2024

Well Completion Equipment Market

Well Completion Equipment Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Product and by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

EP : Equipment and Devices

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Author's: | Eswara Prasad
Publish Date:

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Well-finished equipment is used to assure the optimum output and extraction of a well after drilling with the aid of advanced intelligent equipment and a variety of simplified packers to a desired depth. Furthermore, components of well-finished equipment such as nipples, subsurface safety valves (SSSV), manufacturing packers, valve covers, chokes, and liner systems are developed, assembled, and engineered to meet different well specifications. In addition, SSSV undergoes thorough sampling and testing. Moreover, the process of well completion includes cleaning, relaxing, running processing tubing, and perforating the well for different kinds of reservoirs, each oriented toward unique requirements. Down-hole elastomers, temperature & pressure, operating modes, number of zones, and expenses are the different factors behind the eligibility requirements of multiple techniques and mechanisms for well completion equipment.

Market scope and structure analysis

                             Report Metric

                          Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD)

  Segments covered

  Type, Product, Application, and Region

  Regions covered

North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and the Rest of LAMEA)

  Companies covered

Welltec, Trican Well Service Ltd., Weatherford International Plc, Superior Energy Services, Packers Plus Energy Services, Inc., NCS Multistage, National Oilwell Varco, Inc., Nabors Industries Ltd., Schlumberger Ltd., and Baker Hughes, Inc.

 

Key drivers of global well completion equipment market

Rise in the exploration, production, and completion activities to meet the growing demand of energy globally is expected to fuel the growth of the global well completion equipment market. Surge in demand for oil & gas, all over the world, is anticipated to boost market growth for well completion equipment. Increase in the number of horizontal wells along with rise in oil & shale gas production per rig is a major factor that fuels the growth of the market. Higher investment in various exploration & production operations is another aspect, which is likely to supplement the market growth.

Market scenario: opportunities and challenges

Well completion equipment witness considerable demand in the operating oil reservoir. Increase in production capacities of oil is thus anticipated to augment the demand for the well completion equipment and services in the coming years. Rise in oil & gas exploration activities is expected to add innovative features to the current oil and gas production capacities.  Oil prices predicted to increase in the near future and new investments in the crude oil industry are the factors that are anticipated to offer remunerative opportunities for the expansion of the global market during the forecast period. However, lack of ability to enhance the separate zones within productive zones and plug off gas or water zones are the factors that restrain the development of the global market for well completion equipment. 

COVID-19 scenario analysis

Owing to the outbreak of the COVID-19 pandemic, the global well completion equipment market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown in the output of anything from oil & gas field to industrial sector. In addition, recent decline in oil exploration activities is one of the key factors that is likely to negatively impact the growth of well completion equipment market. Moreover, companies are dealing with missing sales and disrupted supply chains as production activities are shutdown. 

Key segments covered

                                 Segment

                             Subsegment

  Type

  • Multistage Fracturing Tools
  • Smart Wells,
  • Valves
  • Liner Hangers
  • Packers
  • Sand Control Tools
  • Others

  Product

  • Traditional Well Completion Equipment
  • Intelligent Well Completion Equipment

  Application

  • Onshore
  • Offshore

 

Key benefits of the report

  • This study presents the analytical depiction of the global well completion equipment industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global well completion equipment market share.
  • The current market is quantitatively analyzed from 2019 to 2027 to highlight the global well completion equipment market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the global well completion equipment market research report:

  • Which are the leading market players active in the global well completion equipment market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?

Well Completion Equipment Market Report Highlights

Aspects Details
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By Type
  • Multistage Fracturing Tools
  • Smart Wells
  • Valves
  • Liner Hangers
  • Packers
  • Sand Control Tools
  • Others
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By Product
  • Traditional Well Completion Equipment
  • Intelligent Well Completion Equipment
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By Application
  • Onshore
  • Offshore
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
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Key Market Players

National Oilwell Varco, Inc., Nabors Industries Ltd., Superior Energy Services, Schlumberger Ltd., Welltec, Weatherford International Plc, Trican Well Service Ltd., Baker Hughes, Inc., Packers Plus Energy Services, Inc., NCS Multistage

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Well Completion Equipment Market

Global Opportunity Analysis and Industry Forecast, 2023-2032