Press release
What’s driving the Well Cementing Services Market, Industry Growth? Top Key Players –Nabors Industries Ltd., Vallourec, Calfrac Well Services Ltd., Trican Well Service Ltd., Schlumberger Limited, Gulf Energy LLC, Viking Services, Tenaris
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The global well cementing services market is anticipated to reach USD 13.38 billion by 2026 according to a new study. Well cementing operations are the vital part of well completion process that plays the major function of permanently stopping water to penetrate into the well. The major function is to permanently seal the lost circulation areas wherever there is reduced flow within the wellbore. In the past four to five years, oil and gas industry has been greatly violated owing to massive fluctuations in crude oil and gas prices. Increasing production from unconventional reserves has been a major factor driving demand for these services. With several discoveries of new reserves demand for well cementing services market is expected to grow substantially over the forecast period.
The cementing services for the petroleum industry are in the growth stage of its economic cycle. It is characterized by an increasing number of new service providers entering the industry space. These service providers of cementing have benefited more and more from oil & gas wells that require cement for sealing and casing wells. The dip in crude prices has however significantly affected the well cementing services market up to certain extent. Stringent regulations regarding cementing processes and its materials are anticipated to restrain the market in several geographies. As this industry is fully dependent on production of oil and gas and its low prices has been a major concern.
The dip in crude prices is anticipated to enhance strong economic growth however; the situation has disrupted regional growth among the oil producing nations. API standards for the cement used for cementing services have several classifications and different grades of cement are used in different geographies. Remedial well cementing services have been very popular in the low crude price era. Several new unexplored reserves in Brazil, China, Russia and several parts of Europe is expected to drive further the well cementing services market in the coming years.
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Furthermore, North America was one of the potential regional markets apart from the Middle East region. Increasing exploration and production from shale reserves in the region is the major driving factor. Moreover, with the rising trend for sustainable production and development of energy in the U.S., energy companies have been focusing more on hydrocarbon extraction from unconventional reserves along with the conventional ones. Hence, this trend is expected to drive the for well cementing services market.
Some of the leading industry participants in the well cementing services market include Gulf Energy LLC, Sanjel Corporation, Condor Energy Services Ltd., Nabors Industries Ltd., Calfrac Well Services Ltd., Trican Well Service Ltd., Schlumberger Limited, Weatherford International Inc., Halliburton, Inc., Baker Hughes Inc., Nine Energy Service, Inc., Consolidated Oil Well Services, Magnum Cementing Services Ltd., Viking Services, Tenaris, Vallourec, Top-Co and China Oilfield Services Ltd.
Table of Content:
1. Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-away
1.5. Stakeholders
2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation
3. Well Cementing Services Market Insights
3.1. Well Cementing Services? Industry Outlook
3.2. Macroeconomic Environment
3.3. Oil & Gas Industry Trends and its Impacts
3.4. Regulatory and Environmental Considerations
3.5. Well Cementing Services market dynamics
3.5.1. Well Cementing Services Market driver analysis
3.5.2. Well Cementing Services Market restraint/challenges analysis
3.6. Industry analysis - Porter's five force
3.7. Well Cementing Services market PEST analysis, 2017
3.8. Competitive Company Ranking Analysis
3.9. Company strategy updates (2015 -2018) (Short summary with analysis)
4. Well Cementing Services Market Size and Forecast by Type, 2018-2026
5. Well Cementing Services Market Size and Forecast by Application, 2018-2026
6. Well Cementing Services Market Size and Forecast by Regions, 2018-2026
7. Company Profiles
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Related Report:
Southeast Asia Well Cementing Services Market Report (2014-2024) - Market Size, Share, Price, Trend and Forecast
The Southeast Asia Well Cementing Services market size is $XX million USD in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million USD by the end of 2024 with a CAGR of XX% from 2019 to 2024.
This report is an essential reference for who looks for detailed information on Southeast Asia Well Cementing Services market. The report covers data on Southeast Asia markets including historical and future trends for supply, market size, prices, trading, competition and value chain as well as Southeast Asia major vendors?? information. In addition to the data part, the report also provides overview of Well Cementing Services market, including classification, application, manufacturing technology, industry chain analysis and latest market dynamics. Finally, a customization report in order to meet user's requirements is also available.
https://www.marketstudyreport.com/reports/southeast-asia-well-cementing-services-market-report-2014-2024-market-size-share-price-trend-and-forecast?utm_source=RR-SP
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