Nov 10, 2021   SOURCE: BusinessWire

Global $11.33 Bn Well Completion Equipment and Service Market Forecast to 2028 - Opportunities in Arctic Exploration Projects and Collaboration of Oil Service Vendors - ResearchAndMarkets.com

The "Well Completion Equipment and Service Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Offerings (Equipment and Service) and Location (On-Shore and Off-Shore)" report has been added to ResearchAndMarkets.com's offering.

The well completion market was valued at US$ 8,509.96 million in 2021 and is projected to reach US$ 11,335.47 million by 2028; it is expected to grow at a CAGR of 4.2% from 2021 to 2028.

Rise in demand for oil & gas exploration across the world and increase in demand for natural gas in past few years, owing to the rising consumption of energy worldwide and the surging number of gas rig exploration which will drive the growth of the market.

In addition, new offshore oil well projects have been launched across different regions that are also propelling the demand for well completion equipment & services across countries. According to the study, there were more than 14,000 oil & gas well completions reported in FY 2019.

The sudden outbreak of COVID-19 has a number of implications for the oil and gas sector in the world. Oil and gas power-generating facilities have reduced activities, such as shutting down construction, operations, and maintenance projects at several locations, after the imposition of multiple "stay at home" orders by state governors around the world.

In the energy industry, these quarantine measures and shutdowns are causing furloughs and layoffs of technical, construction, and manufacturing personnel, as well as project demobilizations in many cases. As a result, many oil wells are struggling to keep up with maintenance and operations.

Furthermore, the COVID-19 pandemic has made it difficult for oil and gas producers to get project finance or equity capital.

Key players operating in the global well completion equipment and service market and profiled in the market study are

  • Baker Hughes Company
  • FTS International
  • Halliburton Company
  • Nov Inc.
  • NCS Multistage, LLC
  • Royal Dutch Shell PLC
  • RPC Incorporated
  • Schlumberger
  • Nine Energy Services
  • Welltec

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Well Completion Equipment and Services Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. Well Completion Equipment and Services Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Rise in Demand for Oil & Gas Exploration Worldwide

5.1.2 Resumption of Shale Gas Operations

5.2 Market Restraints

5.2.1 Downfall in the Oil & Gas Industry in FY 2020

5.3 Market Opportunities

5.3.1 Arctic Exploration Projects and Collaboration of Oil Service Vendors

5.4 Future Trends

5.4.1 Adoption of Smart Well Technologies

5.5 Impact Analysis of Drivers and Restraints

6. Well Completion Equipment and Services - Global Market Analysis

6.1 Global Well Completion Equipment and Services Market Overview

6.2 Global Well Completion Equipment and Services Market Revenue Forecast and Analysis

6.3 Market Positioning - Five Key Players

7. Well Completion Equipment and Services Market - By Offerings

7.1 Overview

7.2 Well Completion Equipment and Services Market, By Offerings (2020 and 2028)

7.3 Equipment

7.3.1 Overview

7.3.2 Equipment: Well Completion Equipment and Services Market - Revenue and Forecast to 2028 (US$ Million)

7.3.3 Packers

7.3.4 Sand Control Tools

7.3.5 Multistage Fracturing Tools

7.3.6 Liner Hangers

7.3.7 Smart Wells

7.3.8 Valves

7.3.9 Control Devices

7.4 Services

8. Well Completion Equipment and Services Market - By Location

8.1 Overview

8.2 Well Completion Equipment and Services Market, by Location (2020 and 2028)

8.3 Onshore

8.4 Offshore

9. Well Completion Equipment and Services Market - Geographic Analysis

9.1 Overview

10. Well Completion Equipment and Services Market - COVID-19 Impact Analysis

10.1 Overview

10.2 North America

10.3 Europe

10.4 Asia Pacific

10.5 Middle East and Africa

10.6 South America

11. Global Well Completion Market-Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 Merger and Acquisition

11.4 New Product Launch

12. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/2ettcw