Completion Equipment Market is estimated to reach $17.9 billion by 2019, at CAGR of 10.8% from 2014 to 2019.
Dallas, TX -- (SBWIRE) -- 06/26/2014 -- The report “Completion Equipment Market by Type (Packers, Sand Control Tools, Multi-Stage Fracturing Tools, Liner Hangers, Smart Wells, Safety Valves, and Other), $ Geography - Global Trends & Forecast to 2019” defines and segments the completion equipment & services market with an analysis and forecast of the global revenue.
Browse more than 70 market data tables with 24 figures spread through 194 pages and in-depth TOC on "Completion Equipment Market - Global Trends & Forecast to 2019"
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The completion equipment & services market is likely to grow reasonably in the upcoming years. The long-term drivers of the completion equipment & services market are well-known. The onshore and offshore drilling and exploration activities are always associated with elevated danger and require large investment for the exploration and development of oil and gas. To increase efficiency in deep water and in ultra-deep water, arenas insist on state-of-the-art technology that reduces risk, increases completion efficiencies, and maximizes production. This increases the demand of high competent tools, equipment, and services in the market to reduce the risk associated with this market.
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The major drivers for the completion equipment & services market are increase in the production rate, new additions to recoverable reserves, energy strategy shift towards gas, and energy security by domestic supply. Strict environmental rules & regulations and plunge in the number of refineries are seen as major restraints to the completion equipment & services market. North America holds the major market share in the global completion equipment & services market.
The completion equipment market has great opportunities outside North America; however, the growth of this market depends upon many reasons that include environment, which is an important hurdle for the growth.
Currently, North America dominates the completion equipment market. This dominance is seen mainly due to continuous and large increment in the U.S. exploration and production activities. North America has the highest market share due to favorable regulations in the region.
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