Jan 8, 2018   SOURCE: BusinessWire

Global Sand Control Systems Market 2017-2022 - A Projected $2.8 Billion Market - Research and Markets

The "Sand Control Systems Market by Application (Onshore and Offshore), Techniques (Gravel Pack, Frac Pack, Sand Screens, Inflow Control Devices), Well Completions Type (Cased Hole and Open Hole), and Region - Global Forecasts to 2022" report has been added to Research and Markets' offering.

The global sand control systems market is projected to grow at a CAGR of 3.78%, from 2017 to 2022, to reach a market size of USD 2.84 Billion by 2022 from USD 2.36 Billion in 2017.

Rising oil & gas production, growth in the number of wells to be drilled, increasing drilling activities in Asia Pacific, and high day rates of offshore rigs are the major drivers of the sand control systems market. Large stockpiles of crude oil can hinder the growth of the sand control systems market.

The offshore sub-segment of the application segment is expected to grow at the highest CAGR, during the forecast period. Sand control systems are extensively used to prevent the formation of sand during the extraction of oil & gas from wells. These systems increase the productivity and efficiency of the well and near wellbore areas. Increasing investments in oil & gas reserves are expected to drive the growth in the offshore segment of the sand control systems market.

The market in Asia Pacific is currently the largest market for sand control systems followed by the North American and European market. Presence of oil & gas potential reserves and increasing drilling activities in the region are driving the sand control systems market in the Asia Pacific region.

Market Dynamics

Drivers

  • Ease of Drilling And Production for Oil Reservoirs
  • Growing Number of Wells Drilled
  • Increased Drilling Activities in Asia Pacific
  • High Day Rates of Offshore Rigs

Restraints

  • Large Stockpiles of Crude Oil

Opportunities

  • New Oilfield Discoveries
  • Re-Development of Aging Reservoirs

Challenges

  • Strict Government Regulations On E&P Activities
  • Oil Production Cut Agreement Between Opec And Non-Opec Countries

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Sand Control Systems Market, By Application

7 Sand Control Systems Market, By Well Type

8 Sand Control Systems Market, By Technique

9 Sand Control Systems Market, By Region

10 Competitive Landscape

11 Company Profiles

  • Baker Hughes, a GE Company
  • Dialog
  • Halliburton
  • Hebei Shengkai
  • Interwell
  • Mitchell
  • National Oilwell Varco
  • Oil States International
  • Packers Plus
  • Schlumberger
  • Superior Energy
  • Tendeka
  • Variprem
  • Weatherford
  • Welltec

For more information about this report visit https://www.researchandmarkets.com/research/c8vk36/global_sand?w=4