May 14, 2019 (AB Digital via COMTEX) — Sand control systems are one of the biggest parts of the global oil and gas production process. This system help eradicate the production of sand in the wellbore. The system plays a highly important role in the process of completion and ensures the recovery of the performance and the productivity of the well. There are numerous techniques involved for curbing down the production of sand from wells. The choices of these techniques range from simplistic changes in operating practices to costly completions like sand consolidation or gravel packing.
The MRFR analysis reveals that the global sand control systems market is expected to garner a healthy growth percentage of 4.7% during the forecast period between 2017 and 2023. The fluctuating pricing level of crude oil is accelerating the global market towards a positive direction.
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The global sand control systems is segmented on the basis of well type, technique, and application.
By technique, the market segments into Frac Pack, Gravel Pack, Inflow Control Devices, Sand Screens, and others. The gravel pack segment held the dominating share percentage of the market. This is due to the increasing instance of drilling of the oil and gas field across onshore regions. However, the inflow control devices segment is expected to grow during the forecast period at the fastest rate.
By well type, the market divides into offshore and onshore well type segments. The onshore well type segment stands tall as the leader of the global market with the highest share under its belt. This is due to the presence of massive onshore oil & gas wells across the world. The offshore segment, however, is anticipated to grow at the fastest pace during the assessment period. This is primarily due to the growing level of deep and ultra deep-water drilling activities around the world.
The global sand control system market is geographically segmented across various key regions, namely North America, Europe, Asia Pacific, and the Middle East & Africa, to get a global understanding of the landscape.
The Asia Pacific region held the topmost position in the sand control system market with the largest share as per the 2017 study. The region is further anticipated to witness considerable growth over the forecast period and continue to hold on to its primal spot in the global landscape. The booming growth of the region can be owed to the rapid paced industrial development and the expanding population base, one which is not only increasing the energy demands but also helping push the oil and gas exploration activities. In various Asia Pacific countries like Myanmar, Australia, Malaysia, and Indonesia, the oil exploration activities are already underway and running. This is supporting the growth of the market in this region in an epic manner.
The Middle East & Africa region is another prime market for sand control systems. Herein, countries like Saudi Arabia, Nigeria, and the UAE are the biggest drivers of the market by being some of the biggest oil and gas exporters around the world. The increasing investments placed by various major companies in this region is also aiding the overall growth of this regional market.
The global sand control system market comprises a host of key players that are both large and small in terms of size and value, making the market highly competitive yet extremely uneven. The players are employing key strategies like acquisition and expansion, product launch, and agreement & partnership to gain a competitive edge in the global market. Some of the leading players identified by MRFR are as follows: Welltec (Denmark), Schlumberger Limited (France), Oil States International (U.S.), Halliburton Inc. (U.S.), Baker Hughes Incorporated (U.S.), Superior Energy Services, Inc. (U.S.), Tendeka (U.K), Weatherford International (Switzerland), Packers Plus Energy Services Inc. (Canada), National Oilwell Varco (U.S.), and others.
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