Sand Control Solutions Market by Location, Application, Well Type, Type And Region - Global Forecast to 2025

Sand Control Solutions Market by Location, Application, Well Type, Type And Region - Global Forecast to 2025

  • December 2020 •
  • 188 pages •
  • Report ID: 5174732 •
  • Format: PDF
The sand control solutions market is projected to reach USD 3.2 billion by 2025 from an estimated USD 2.1 billion in 2020, at a CAGR of 8.9% during the forecast period. The continuous development from unconventional reservoirs and efforts to increase reserve to production ratio from the wells are the key factors driving the growth of the sand control solutions market. Likewise, the increasing offshore exploration & production as well as subsea activities are expected to offer lucrative opportunities for the sand control solutions market during the forecast period.However, fluctuating crude oil prices, and challenging operations in high-pressure high temperature well hinder the growth of the market.

The onshore, by location, is expected to be the fastest-growing market from 2020 to 2025.
The onshore segment is projected to grow at the highest CAGR from 2020 to 2025.Onshore oil & gas wells are predominantly present in regions such as North America, the Middle East, and Africa.

According to the US Department of Energy estimates, there are 89 billion barrels of additional oil trapped in onshore reservoirs. Due to the presence of vast onshore oil & gas wells and increased dependency on conventional oil & gas, which is the most profitable and convenient to way meet the energy demand.

The cased hole, by application, is expected to be the largest market from 2020 to 2025.
The report segments the sand control solutions market, by application, into open hole and cased hole.The cased hole segment is expected to grow at the highest CAGR during the forecast period owing due to technical reasons relating to the stability of the hole.

Growing productivity from maturing wells and unconventional reserves are major factors driving the demand for cased-hole well completion during the forecast period.
North America: The fastest growing region in the sand control solutions market.
North America is expected to grow at the highest CAGR during the forecast period.North America includes the US, Canada, and Mexico.

North America is one of the key regions to produce oil & gas because of high production activities in the US and Canada.According to the BP Statistical Review of World Energy 2020, the US increased its oil production by 11% in 2019 from 2018.

The US government plans to double the oil and gas production activities by lifting regulations on oil & gas production and drilling on federal land.According to FracTracker Alliance (an association that tracks drilled wells), the total number of active wells in the US are 1,666,715.

Most of these wells are in the states of Texas, California, Illinois, and Missouri. Also, Tight oil and shale gas are emerging as important new sources of energy in the US and Canada. Technological advancements in drilling, such as long-reach horizontal well bores, and completion techniques, such as multi-stage hydraulic fracturing, are expected to increase the supply of crude oil in North America. This will drive the market for sand control solutions in North America as sand control solution are required for minimizing the sand production from wells and near wellbores.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 60%, Tier 2- 25%, and Tier 3- 15%
• By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%

By Region: Asia Pacific- 30%, North America- 25%, Europe- 20%, Middle East & Africa – 25%, and South America-10%
*Others includes sales managers, engineers, and regional managers.
The tiers of the companies are defined based on their total revenue as of 2019. Tier 1: USD 1 billion, Tier 2: From USD 1 billion to USD 500 million, and Tier 3: The sand control solutions market is dominated by a few major players that have an extensive regional presence. The leading players in the sand control solutions market are Schlumberger (US), Halliburton (US), Baker Hughes Company (US), Weatherford (Switzerland), and Superior Energy Services (US)

Study Coverage:
The report defines, describes, and forecasts the sand control solutions market, by location, application, well type, type, and region.It also offers a detailed qualitative and quantitative analysis of the market.

The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the sand control solutions market.

Key Benefits of Buying the Report
1. The report identifies and addresses the key markets for sand control solutions application, which would help equipment manufacturers and raw material providers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.
Loading...

We are very sorry, but an error occurred.
Please contact support@reportbuyer.com if the problem remains.