Transparency Market Research has published a new report "Sand Control Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020" to its report store.
Albany, NY -- (SBWIRE) -- 11/02/2015 -- According to the report, registering a healthy CAGR of 8.18%, the global sand control systems market is likely to rise from US$2.6 bn in 2012 to US$4.8 bn by 2020
In-depth research report on Sand Control Systems Market with Full TOC at : http://www.transparencymarketresearch.com/sand-control-systems.html
Sand control techniques are used to reduce the influx of sand into natural gas and crude oil wells. Fueled by advancements in sand control techniques, rise in drilling activities, and recently discovered as well as potential oil and gas reserves, the global sand control systems market is projected to grow at a steady pace over the next five years. However, trying to balance the economic viability of deepwater well with the cost of sand control is anticipated to be a major challenge for the sand control systems market.
On the basis of technique, the market for sand control systems is divided into plastic consolidation, stand-alone screens, frac pack, selective completion practices, resin coated gravel, gravel packing, and high energy resin replacement. Owing to its high success rate and low implementation cost, gravel packing is the most commonly used sand control technique in onshore and offshore crude oil and natural gas wells.
Geographically, the sand control systems market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The report states that by 2020, Asia Pacific is likely to emerge as the leading market for sand control systems, fueled by increased demand for energy from countries such as China, Japan, and South Korea. Rise in drilling activities in Australia, Indonesia, Myanmar, and Malaysia has also resulted in growth of the sand control systems market in Asia Pacific. Looking to avoid any equipment damage, petroleum companies across the region have been installing sand control systems at crude oil and natural gas wells. This has also boosted the APAC market.
The Rest of the World region is projected to emerge as a strong contender in the global sand control systems market by the end of the forecast period given the recent discovery of offshore oilfields in countries such as Egypt, Tanzania, and Mozambique. Countries such as Nigeria, Angola, Brazil, and Venezuela are rich in petroleum reserves and as a result, Africa and Latin America hold immense potential for growth.
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Weatherford International Ltd., Ceradyne, Inc., Schlumberger Limited., Superior Energy Services, Inc., Baker Hughes, Inc., Welltec A/S, Variperm (Canada) Limited, Grit Industries, Inc., RPC, Inc., and Halliburton Company are some of the leading players operating in the global sand control systems market. These participants are profiled in the research report based on attributes such as company overview, business strategies, financial standing, and recent developments.
Sand Control Systems Market: Technique Type Analysis
Resin coated gravel
Resin coated gravel
Others (High energy resin placement and selective completion practices)
Sand Control Systems Market: Regional Analysis
Rest of the World (RoW)
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