openPR Logo
Press release

Well Testing Services Market to reach more than US$ 10 Bn by 2026

11-03-2020 06:12 PM CET | Energy & Environment

Press release from: Transparency Market Research - Energy & Mining

Albany, NY - The global well testing services market was valued at approximately US$ 6 Bn in 2017 and is anticipated to expand at a CAGR of more than 6% from 2018 to 2026, according to a new report titled ‘Well Testing Services Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026’ by Transparency Market Research (TMR). Rising expenditure on offshore E&P activities is expected to propel the demand for well testing services across the globe.

Request A Sample Of Well Testing Services Market -

Subsea services to remain a dominant type segment during the forecast period

Among types, the subsea services segment constituted more than 25% share of the global well testing services market in 2017. Subsea services involve a complete package of equipment installation, jointing, personnel, and maintenance. Subsea services include installation services, asset management services, inspection maintenance and repair (IMR), and production optimization services, which are related to subsea oil & gas assets. Subsea landing strings are widely used for offshore well testing operations. They are employed to reduce the risk associated with the use of tools designed for ultra-deep-water, high-pressure and extreme-temperature reservoir testing. They are used in offshore well testing, completion and intervention projects. Subsea services consist of subsea landing string operating systems, subsea test tree systems, and subsea service support infrastructure. The investment in subsea landing string services is higher than other services, due to their several uses in offshore operations. Thus, the subsea services segment holds a major share, in term of value, of the global market. North America dominated the global market for well testing services in 2017, owing to presence of a large number of rig wells in the U.S. and Canada. The U.S. possessed more than 850 rigs and Canada owned more than 200 rigs in 2017.

Stringent EPA regulations and weakening prices of crude oil to impact the market

The U.S. EPA promulgated the ‘Oil & Gas Extraction Effluent Guidelines & Standards (40 CFR Part 435)’ in 1979. It amended these regulations in 1993, 1996, 2001, and 2017. The regulations cover wastewater discharge from field exploration, drilling, production, well treatment, and well completion activities. These activities take place on land, coastal areas, and off the shore. The EPA established pre-treatment standards under Sub-part C in 2017. These standards prohibit discharge of wastewater pollutants from onshore unconventional oil & gas (UOG) extraction facilities to publicly owned treatment works. The EPA has not promulgated effluent limitations guidelines and standards for pollutant discharge from coal bed methane extraction facilities. Declining prices of crude oil can have an adverse effect on well testing services across the globe. Governments of several countries have imposed strict norms on carbon emissions, which has shifted investments to the renewable energy sector. Governments are providing subsidies for generation of renewable power, which has made well testing a highly lucrative market.

More Trending Reports by Transparency Market Research –

Increasing investments in offshore oil & gas activities to boost the demand

Among applications, the offshore segment dominates the well testing services market. Excess depletion of onshore oil & gas assets has shifted investments from onshore to offshore oil & gas assets. Rising demand for energy and increasing expenditure on shallow-water, deep-water, and ultra-deep-water oil & gas assets are expected to propel the demand for well testing services in the near future. Several key players in the oil & gas industry are investing heavily in offshore assets. Thus, a move from onshore to deep-water offshore drilling is expected in the next few years, led by major international oil and E&P companies that are willing to invest in exploration efforts. More than 70% of new discoveries pertain to offshore areas.

North America, especially the U.S., to lead the global well testing services market

North America dominated the global well testing services market in 2017 and the same trend is expected to continue during the forecast period. The U.S. drilled more than 14,000 wells in 2016 and is expected to explore more oil & gas wells in the near future. The U.S. upstream sector is a complex combination of technical, financial, political, and logistic factors. Growing exploration of unconventional reserves is likely to boost the demand for well testing services in the country in the near future.

Request For the Customization -

Highly competitive market with the dominance of top players

The global well testing services market is highly competitive. The market is highly fragmented with the presence of a large number of local and international players in the market. Leading players dominate the market. Key players operating in the global well testing services market are Schlumberger Limited, HELIX ESG, Halliburton, Expro Group, Weatherford International Plc., SGS S.A., Tetra Technologies, Inc., TestAlta, CETCO Energy Services, Oil States International, Inc., PTS Production Technology & Services Inc., Abraj Energy Services SAOC, Emerson Automation Solutions, Integra Group, and TechnipFMC plc.

Request for covid19 Impact Analysis -

Global Well Testing Services Market, by Type

• Downhole
• Real Time
• Reservoir Sampling
• Surface Well Testing Services
• Subsea Services
• Others

Global Well Testing Services Market, by Application

• Onshore
• Offshore


90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453



About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Well Testing Services Market to reach more than US$ 10 Bn by 2026 here

News-ID: 2179844 • Views: 271

More Releases from Transparency Market Research - Energy & Mining

Wastewater Treatment Services Market – Notable Developments and Geographical O …
Albany, NY - Wastewater Treatment Services Market- Overview Large amount of wastewater is produced from households and industries that can be successfully treated for reuse and also for discharging it into the environment. Many regions in the world are going through water crisis. Wastewater treatment services can provide significant solutions to handle this situation. Rapid urbanization brought by industrialization and unprecedented population rise are inducing high demand for clean drinking
Key Drivers of Europe Distribution Transformer Market
Albany, NY - Europe Distribution Transformer Market­­­: Introduction The distribution transformer market in Europe was valued at US$ 3.5 Bn in 2019 and is anticipated to expand at a CAGR of 6.5% during the forecast period. Based on insulation, the liquid segment held dominant share of the distribution transformer market in Europe in 2019. In terms of insulation type, the replacement segment accounted for a larger share of the distribution transformer market in Europe in 2019. Power failures have been rising due to
Customized Peptide Generation Market Drivers, Restraints and Notable Development …
Albany, NY - Global Customized Peptide Generation Market: Overview Mechanical developments, expanding research exercises in the field of engineered science, developing weight of malignancy and irresistible illnesses, and expanding ventures and subsidizing for protein-based inquire about are the central point driving the customized peptide generation market development. Peptide usage in the pharmaceutical business has experienced an enormous change lately because of mechanical improvements. Prior, peptide generation was completed with the assistance of common sources,
Hybrid And Full Electric Marine Propulsion Market To Hit US$7,516.7 Mn By 2026
Albany, NY - The global hybrid and full electric marine propulsion market bears a fairly fragmented vendor landscape, says Transparency Market Research (TMR) in a recently published report. This is solely because of the existence of large, medium, and small scale players in the market. BAE Systems, Wartsilla Corporation, AB Volvo Penta, Niigata Power Systems, and Fairbanks Morse Engine are the leading companies in the global hybrid and full electric marine propulsion

All 5 Releases