Smart Well Market Size, Growth, Trends, Analysis and Foresight to 2022

Market Highlights
The smart well technology allows measuring flows from each producing formation in real time, regulating water injection rates in injection wells. Additionally, smart well technology creates additional economic and environmental benefits, since it allows a reduction in the number of well pads and associated field infrastructure, and also helps meet the requirements of environmental regulations. A recent trend is that of IT integration and digitization of oil fields. The recent fall in oil prices has reduced oilfield services companies’ profit margins, leading to the use of IT to improve efficiencies and reduce operational losses. Factors such as increasing drilling activities in oil fields and rising focus on shale gas and tar sand reserves are driving the onshore well type. Moreover, North America is leading the market for smart well. The exploration of new reserves, and creation of growth prospects for the exploration and production activities in the U.S., Canada and Mexico are expected to trigger the demand for Smart Well Market.
However, decreasing investment in oil and gas industry and Cyber security concern are some of the factors projected to limit the industry growth opportunities.

Global market for Smart Well is majorly driven by factors such as growing demand for oil and gas, exploration and production activities and among others.

The report has been analyzed the market based on the two segments, namely Wwell type and end-use in the regions of North America, Europe, APAC and Rest of the World. On the basis of Wwell sites, the market includes the segments of onshore and offshore. The onshore well type is expected to be higher than the offshore segment in terms of market share during the forecast period. The factors such as increasing drilling activities in oil fields and rising trend to focus on unconventional reserves such as shale gas and tar sands reserves are driving the onshore well type. Moreover, the cost incurred in oil & gas activities such as drilling and completion is less in onshore when compared to offshore applications. North America region shows the highest growth in smart well due to increased number of fewer investments as well as high exploration and production activities and Asia-Pacific expected a potential growth for the market. The global smart well market is expected to cross USD XX Billion by the end of the forecast period and is expected to grow at CAGR of approximately XX from 2016 to 2022.

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Key Players
The key players of global smart well market are
• Baker Hughes,
• Halliburton,
• Schlumberger,
• Weatherford International,
• National Oilwell Varco,
• Superior Energy Services, Inc.
• Trican Well Service Ltd.,
• RPC Inc.,
• Nabors Industries Ltd,
• Salym Petroleum Development N. V.
• others.

Market Research Future Analysis:
Market Research Future analysis shows that the global market of smart well market is estimated to grow at USD XX billion by the end of year 2022. North America is currently the largest market for smart well followed by Europe and Asia-Pacific. In North America, the growth of the smart well market is attributed to factors such as shale revolution and presence of large drilled wells in the U.S. which drives the market for smart well. A recent trend is that of IT integration and digitization of oil fields. Integrating IT with software allowed the continuous monitoring of performance of equipment that can be fixed immediately. This tracking method has substantially reduced maintenance time and devices failures, which resulted in monitory losses and delay in the completion of projects. Digital oilfield technologies are gaining importance, as they allow decision making and remote executions with the objective to maximize production, improve capital efficiency, and minimize safety hazards.

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Table of Content

1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model

3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis

4 Global Hydraulic Fracturing Market, By Well Type
4.1 Introduction
4.2 Horizontal
4.3 Vertical
5 Global Hydraulic Fracturing Market, By Technology
Continue………..

List of Tables
Table 1 Global Smart Wells Market, By Well Type
Table 2 Global Smart Wells Market, By Regions
Table 3 North America Smart Wells Market, By Well Type
Table 4 U.S. Smart Wells Market, By Well Type
Table 5 Canada Smart Wells Market, By Well Type
Continue……….

List of Figures
Figure 1 Research Methodology
Figure 2 Global Smart Wells Market: By Well Type (%)
Figure 3 Global Smart Wells Market: By Region
Figure 4 North America Smart Wells Market, By Well Type (%)
Figure 5 Europe Smart Wells Market, By Well Type (%)
Continue…….

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