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Reservoir Analysis Market Analysis and Dynamic Growth with Forecast By 2025 | Schlumberger, DSM, SGS SA, Baker Hughes, Inc., Jiangxi East, Emerson Electric Co., Paradigm
Reservoir Analysis
The major driving factor that is responsible for the growth of reservoir analysis market is upsurge in global energy demand. Furthermore, rise in focus on mature oil & gas fields and new field developments have fueled the market growth. However, high cost, risk, and complexities associated with reservoir analysis hinder the growth of the market. On the contrary, technological advancements in reservoir analysis are expected to provide future opportunities for the market.
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The global reservoir analysis market is segmented based on service, end user, and geography. By service, it is classified into reservoir simulation & geo-modeling, reservoir sampling services, and data acquisition & monitoring. The data acquisition and monitoring segment accounts for a major share during the forecast period, owing to increase in exploration of shale gas and production activities in North America. By end user, the market is bifurcated into onshore and offshore.
The onshore segment is expected to dominate the global reservoir analysis market on account of new production and exploration activities being carried out in the Middle East and North American regions. The market is analyzed based on geography into North America, Europe, Asia-Pacific, and LAMEA.
In 2017, LAMEA and Europe collectively accounted for more than 64% of the global reservoir analysis market, in terms of value. This is attributed to growing inclination on mature oil & gas field coupled with new reservoir developments. Moreover, upsurge in the number of projects in oil & gas industries offers growth opportunities to the reservoir analysis market. In LAMEA region, Saudi Arabia is one of the significant reservoir analysis markets, as it constitutes one-fifth of the worlds proven oil reserves and offers future growth opportunities for the exploration and production of oil & gas reserves. Furthermore, the LAMEA reservoir analysis market is expected to grow at a significant rate in the near future with more developments in oil & gas reservoir in the Brazil, Argentina, Africa, Saudi Arabia, and rest of LAMEA.
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By region, the market is analyzed across various regions including North America, Asia-Pacific, Europe, and Latin America, Middle East and Africa (LAMEA). LAMEA accounted for two-fifth of the total market share in 2017 and is expected to maintain its dominance during the forecast period. By service, data acquisition and monitoring sector contributed for nearly three-fourth of the total market share and would retain its leadership status by 2025.
The major players profiled in this study include Weatherford International Ltd., Schlumberger Limited DSM, Baker Hughes, Inc., Jiangxi East, Halliburton, SGS SA, and others. These companies have adopted various strategies such as product launch, acquisition, merger, and signing of agreement to increase their market share. For instance, Schlumberger Limited developed technologies such as a perforating gun and hydraulic fracturing of well for use in the drilling process. Furthermore, simulation software are being developed to increase reservoir production.
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Key offerings of the report:
1. Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
2. Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
3. Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
4. Regional Analysis: Thorough analysis of each region helps market players devise expansion strategies and take a leap.
5. Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.
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