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Sand Control Systems Market Company Profile, Brief Analysis By Regions, Growth Prospects, Future Scope and Trends by Forecast 2023
Apr 02, 2019 (MarketersMedia via COMTEX) —
Sand Control Systems Market Information by Technique (Gravel Pack, Frac Pack, Sand Screens, Inflow Control Devices and others), Well Type (Cased Hole and Open Hole), Application (Onshore and Offshore), and Regions – Forecast till 2023
According to MRFR analysis, the global sand control systems market is estimated to expand at a CAGR of 4.7% during the estimated period (2017-2023). The sand control systems market is growing at a high pace and is expected to continue grow at the same pace over the forecast period. Due to fluctuating prices of crude oil, global sand control systems market is gaining traction from the major oil producing companies to lift production of active oilfields.
Sand control systems is one of the major parts in oil & gas production system. It helps eliminate the sand production in the wellbore. The system plays a major role in the completion process and it recovers the performance and the productivity of the well. Nowadays, most of the world's oil and gas wells produced from unconsolidated sandstones produce sand with reservoir fluids. Problems associated with sand production include plugging of perforation tunnels, accumulation in surface separators, sanding up of the production interval, and potential failure of downhole and surface equipment from erosion. Such problems can pose economic and safety risks.
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The key players of the global sand control systems market are Schlumberger Limited (France), Halliburton Inc. (U.S.), Baker Hughes Incorporated (U.S.), Weatherford International (Switzerland), and National Oilwell Varco (U.S.). Oil States International (U.S.), Tendeka (U.K), Welltec (Denmark), Packers Plus Energy Services Inc. (Canada), and Superior Energy Services, Inc. (U.S.) are among others.
The global sand control systems market has been segmented based on technique, well type, application, and region.
On the basis of technique, the market has been segmented into Gravel Pack, Frac Pack, Sand Screens, Inflow Control Devices and others. The gravel pack dominated the technique segment of the market due to the increased drilling of the oil and gas field in the onshore regions.
On the basis of well type, the market has been segmented onshore and offshore. Onshore dominates the well type segment of the market. Existence of huge onshore oil & gas wells is the major factor for the largest market share of the onshore segment in the sand control systems market.
Offshore segment is projected to be the fastest growing segment during the forecast period, mainly due to rising deep & ultra deepwater drilling activities, across the globe.
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific, and Rest of the World.
Asia Pacific region dominates the global sand control systems market in 2017. Increasing population and rapid industrial development are leading to increase in energy demands, which push oil and gas exploration activities. Oil and gas exploration activities are well underway in countries such as Malaysia, Australia, Indonesia, and Myanmar. This drives the sand control systems market.
Middle East & Africa is another prominent region for the sand control systems. Nigeria, Saudi Arabia and UAE, are the biggest oil and gas exporters. Growing investments in the region by various companies such as Saudi Aramco, a national petroleum & natural gas firm in Saudi Arabia, are driving the market.
Global sand control systems market seems to be extremely uneven and competitive owing to the presence of several large and medium players active in regional market. The key strategies traced from the analysis of recent developments of the key players include product launch, acquisition and expansion, agreement & partnership. Strategic partnerships between key players support the growth and expansion plans of the key players during the forecast period.
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TABLE OF CONTENT
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter's Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Sand Control Systems Market By Techniques
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Release ID: 497586
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