Press release
Well Intervention Market to Reach US$ 12.5 Bn by 2026, Increasing Investment in Offshore Assets to Drive Growth, says Fortune Business Insight
The global Well Intervention Market will gain significantly from the increasing demand for oil and gas from offshore areas. Fortune Business Insights has recently announced publishing of a report, titled “Well Intervention Market Size, Share and Global Trend by Type (Light Intervention, Medium Intervention, Heavy Intervention), Service (Logging & Bottom Hole Survey, Tubing/Packer Failure & Repair, Stimulation, Remedial Cementing, Zonal Isolation, Sand Control, Artificial Lift, Fishing, RE-Perforation), Application (Onshore, Offshore) and Geography Forecast till 2025.” As per the report in 2018, the global Well Intervention Market was worth US$ 8+ Bn. The global Well Intervention Market is expected to progress at a CAGR of 5.23% and reach US$ 12.5 Bn by the end of 2026.Sample Pages: https://www.fortunebusinessinsights.com/enquiry/sample/well-intervention-market-100070
In terms of type, light intervention held the highest share in the global Well Intervention Market. Light intervention accounted for 58.8% of the global market in 2018. The popularity of light intervention is high among end users due to its less operational cost compared to heavy and medium intervention. However, the demand for heavy and medium intervention is likely to increase during the forecast period in response to the increasing well intervention activities.
To cater the constantly increasing demand for oil and gas, key market players are trying to increase the productivity of existing wells. This is likely to increase the growth rate in the global Well Intervention Market.
Onshore Segment Emerged Dominant in the Global Well Intervention Market
In terms of application, onshore segment was leading the global Well Intervention Market in 2018. However, the offshore segment is anticipated to witness high demand and grow at a relatively higher CAGR during the forecast period 2019-2026. Growth witnessed in this segment is attributable to the increasing investment in subsea oil and gas assets. This is likely to fuel the demand in the global Well Intervention Market.
Increasing number of well intervention activities and rising number of active rigs are key factors expected to drive the global Well Intervention Market during the forecast period 2019-2026. Moreover, discovery of new wells and rigs is also anticipated to give impetus to the global Well Intervention Market.
On the flip side, the high cost associated with well intervention activities may restrain the global Well Intervention Market during the forecast period.
“Market players should focus on investing in offshore assets. This will help improve the reservoir performance and overall life cycle of the well. This may also boost the global Well Intervention Market,” said a lead analyst at Fortune Business Insights.
Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/well-intervention-market-100070
Middle East and Africa to Expand at the Highest CAGR
North America was dominating the global Well Intervention Market in 2018. The market in North America was worth US$ 3,268.3 Mn in 2018. Asia Pacific and Europe also held a significant share in the global Well Intervention Market. North America is expected to dominate the global market even during the forecast period. Increase in offshore activities in the Gulf of Mexico and North Sea will create growth opportunities for the Well Intervention Market in North America. Additionally, in 2017 the U.S. accounted for 50% of the new well drilled, followed by China and other Asian nations. The Middle East and Africa, is expected to grow at a relatively higher CAGR owing to the increased investment inflow and huge budget aided from Gulf nations.
Some of the leading organizations operating in the global Well Intervention Market are Schlumberger, Baker Hughes, Halliburton, HELIX ESG, National Oilwell Varco, Oceaneering International, Inc., Expro Group, Hunting Energy Services, Weatherford International Plc, Deepwell AS, Welltec, TechnipFMC, C&J Energy Services, Inc., Superior Energy Services, Inc., and Altus Intervention.
Table of Content:
*CompetitiveLandscape
*Industry Development
*Company Profile (Overview,Products & services, Recent developments, strategies, financials (based onavailability))
Schlumberger
BakerHughes
Halliburton
HELIXESG
ational Oilwell Varco
Oceaneering International, Inc.
ExproGroup
Hunting Energy Services
WeatherfordInternational Plc
Deepwell AS
Welltec
TechnipFMC
C&JEnergy Services, Inc.
Superior Energy Services, Inc.
AltusIntervention
Detailed Product Mappingfor All Major Companies (By Service, Type and Application)
*Strategic Recommendations
to be continued....
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About us:
Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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