Sand Control Services Market to Grow at 6.1% CAGR, Reaching $2.33 Billion by 2029

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Sand Control Services Market Outlook: How is the Market Expected to Grow by 2025?
Recent years have seen significant growth in the size of the sand control services market. It is projected to expand from $1.74 billion in 2024 to $1.84 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.9%. The historical growth has been driven by factors such as the increased use of shale gas, heightened exploitation of tight oil formations, elevated demand for sand control tools, a stronger emphasis on well maintenance, and a growing adoption of sand control strategies.

Sand Control Services Market Forecast: What Size Will It Reach By 2029?
It is anticipated that the market size for sand control services will experience robust expansion in the near future, with projections indicating it will reach a value of $2.33 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.1%. This boost during the predicted period can be linked to the escalating necessity for energy security, increasing deepwater exploration, a surge in focus on carbon capture and storage, elevated health and safety norms, and a growing emphasis on cleaner energy. Noteworthy trends expected in the forecast period involve the incorporation of the Internet of Things, machine learning and artificial intelligence, an upsurge in the application of nanotechnology, and the addition of robotics.

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Which Key Market Drivers Will Shape Sand Control Services Industry Trends in 2025-2029?
The upward trend in oil and gas exploration activities is projected to drive the expansion of the sand control services market. Exploration of oil and gas involves the discovery and assessment of buried reserves of oil and natural gas through geological inspections, seismic studies, and exploratory drilling. The rising energy requirement and the depletion of existing reserves are causing an upsurge in exploration activities, intensifying the demand for sand control services, required to avoid sand production, guarantee wellbore stability, enhance production, and safeguard equipment. For example, as per the Norwegian Offshore Directorate, a government organization based in Norway, there was a completion of 42 exploration wells on the Norwegian continental shelf in 2024, which indicates an increase of 10 wells relative to 2023. Consequently, the augmentation in oil and gas exploration activities is fueling the expansion of the sand control services market.

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What Are the High-Growth Segments in the Sand Control Services Market?
The sand control services market covered in this report is segmented -

1) By Well Type: Horizontal, Vertical
2) By Technique: Gravel Pack, Frac Pack, Sand Screens, Resin-Coated Gravel, Other Techniques
3) By Location: Onshore, Offshore
4) By Application: Cased Hole, Open Hole

Subsegments:
1) By Horizontal Wells: Multilateral Wells, Extended Reach Wells, Offshore Wells
2) By Vertical Wells: Conventional Vertical Wells, Directional Vertical Wells

Which Global Trends Are Driving Sand Control Services Market Expansion?
Leading businesses in the domain of sand control services, like Halliburton Company, are increasingly prioritizing the creation of novel solutions, encompassing sand consolidation, to boost well productivity and prolong asset lifespan. Sand consolidation involves reinforcing formation grains to inhibit sand production and retain reservoir permeability. A relevant example is the SandTrap XL launched by the US-based energy industry solution provider, Halliburton Company, in October 2024. This solution provides superior sand control using a low-viscosity resin system which stabilizes formation grains but doesn't compromise permeability. The usefulness of this extends to mature fields and non-consolidated reservoirs and can tolerate temperatures above 550°F (287°C), making it apt for enhanced oil recovery procedures such as steam flooding. This breakthrough significantly contributes to the productivity and lifespan of wells, particularly in mature fields and non-consolidated reservoirs.

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Who Are the Fastest-Growing Companies in the Sand Control Services Industry?
Major companies operating in the sand control services market are Schlumberger NV, 3M Company, Baker Hughes Company, Halliburton, ANDRITZ AG, NOV Inc., Weatherford International Plc, The Lubrizol Corporation, ChampionX, Oil States International Inc., Anton Oilfield Services Group, Superior Energy Services Inc., Tatweer Petroleum Services, Packers Plus Energy Services Inc., The Industrialization Energy Services Company, Thru Tubing Systems Inc., DuneFront Ltd., Tubular Perforating Manufacturing LTD., Fawthrite Nigeria Limited, FilsonFilters, Tianjin Elegant Technology

What Is the Regional Outlook for the Sand Control Services Market by 2029?
Middle East was the largest region in the sand control services market in 2024. The regions covered in the sand control services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This release was published on openPR.