Completion services include performing casing, cementing, perforating, gravel packing, and installing a production tree for the well to start production.
Dallas, TX -- (SBWIRE) -- 07/13/2015 -- The report Completion Equipment and Services Market by Type (Packers, Sand Control Tools, Multi-Stage Fracturing Tools, Liner Hangers, Smart Wells, Safety Valves, and Other), by Application (Onshore, Offshore) & Geography - Global Trends & Forecast to 2019, defines and segments the completion equipment and services market with an analysis and forecast of the global revenue
Browse 69 market data tables and 46 figures spread through 158 pages and in-depth TOC on Completion Equipment and Services Market by Type (Packers, Sand Control Tools, Multi-Stage Fracturing Tools, Liner Hangers, Smart Wells, Safety Valves, and Other), by Application (Onshore, Offshore) & Geography - Global Trends & Forecast to 2019.
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The completion equipment and services market is likely to grow reasonably in the upcoming years. The long-term drivers of the market are well known. Onshore and offshore drilling and exploration activities are always associated with elevated danger and require huge investments for the exploration and development of oil & gas. In addition, to increase efficiency in deepwater and in ultra-deepwater arenas, state-of-the-art technology that reduces risk, increases completion efficiencies, and maximizes production are required. This increases the demand for high competent tools, equipment, and services in the market to reduce the risk associated with this market.
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The major drivers of the completion equipment and services market include increase in 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 of the completion equipment and services market. Meanwhile, North America held the major market share in the global completion equipment and services market in 2014.
The market has been estimated from the demand point of view. This report breaks the market into smaller service segments. In order to provide a deeper understanding of the competitive landscape, the report profiles 11 companies in the completion equipment and services market.
The global completion equipment and services market was expected to be valued at $10.7 billion in 2014. This value is estimated to increase to $13.0 billion by 2019, at a CAGR of 3.9% during the forecast period. North America was expected to lead the global completion equipment and services market with a share of more than 40% in 2014.
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