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Zonal Isolation Market Revenue to Reach US$27.88 bn by 2024, Rise in Offshore Drilling Activities Fuels Growth

11-09-2016 02:48 PM CET | Energy & Environment

Press release from: TMR-Research Reports

Zonal Isolation Market Revenue to Reach US$27.88 bn by 2024, Rise

Transparency Market Research has released a new market report titled, “Zonal Isolation Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024.” According to this report, the global zonal isolation market was valued at US$14.80 bn in 2014 and is projected to reach US$27.88 bn by 2024 at a CAGR of 6.6% from 2016 to 2024.

Traditionally, cementing technique has been used by operators to provide zonal isolation throughout the life of a well. However, in the past few years, several mechanical and chemical techniques have been developed to prevent cross flow of water, gas, or oil between different formations. Mechanical zonal isolation consists of the use of several mechanical equipment such as sliding sleeves, packers, perforated/slotted liners, and plugs. Chemical zonal isolation, on the other hand, comprises the use of polymer gels, monomer systems, bio polymers, and elastomers.

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Multiple technologies along with primary and remedial cementing are deployed by well operators for isolating a particular zone during well completion and intervention. Deployment of such techniques depends on several well parameters such as type of producing zone (oil or gas), depth of well, wellbore geometry, and temperature of the wellbore. Zonal isolation is considered very critical for developing unconventional resources. It is very essential to predict flow rates to successfully design and implement multistage hydraulic fracturing in low permeable shale gas reserves. Cost of isolating a particular zone is generally 2%-5% of the total well completion cost. Shift of exploration activities from onshore to offshore areas coupled with increasing focus toward the development of unconventional reserves has spurred the market for the zonal isolation across the globe.

The zonal isolation market has been segmented on the basis of technology and application. Based on technology, the market has been segmented into mechanical and chemical zonal isolation. However, on the basis of application, the market has been segmented into offshore and onshore zonal isolation. Chemical zonal isolation holds the highest market share in terms of technology. However, in terms of application, offshore zonal isolation holds the highest market share. Key players in the zonal isolation market are Schlumberger Limited, Superior Energy Services, Inc., Weatherford International, Baker Hughes, Inc., Halliburton Company, Nabors Industries Ltd., Trican Well Service Ltd., Expro International Group Holdings Ltd., Aker Solutions ASA, and Tendeka.

Browse Report with Full TOC at : http://www.transparencymarketresearch.com/zonal-isolation-market.html

Increase in drilling activities, especially in the offshore areas coupled with growing demand for unconventional energy sources have driven the global market for zonal isolation in the past few decades. Despite fluctuations in the global crude oil prices, it is anticipated that the market for global zonal isolation would reach US$ 27,888.8 Mn by 2024.

Zonal Isolation Market: By Technology

Mechanical Zonal Isolation

Sliding Sleeves
Packers
Perforated/Slotted Liners
Plugs

Chemical Zonal Isolation

Polymer Gels
Monomer Systems
Bio Polymers
Elastomers
Others

Zonal Isolation Market: By Application

Onshore Zonal Isolation
Offshore Zonal Isolation

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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 insights for 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, TMR employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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