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Global Sand Control Systems Market
Global Sand Control Systems Market
The GMI Research predicts that the Sand Control Systems Market is experiencing an extension in demand over the coming years. This is mainly due to the persistent development in shale activities, increasing measures to raise the proportion of reserve to production, enhancing wells' productivity, and their assistance to reduce issues of downhole cavities.
Introduction of the Sand Control Systems Market
Sand control systems prevent the working of reservoir fines and sand into well borne, raise productivity, and reinforce the reservoir. These systems employ various technologies to restrain the sand into the well borne as placing them into the production wells is the major challenge faced by the oil companies.
Lading Players of the Market:
· Halliburton
· Weatherford
· Baker Hughes Company
· Oil States International, Inc.
· Tendeka
· RGL Reservoir Management Inc.
· China Oilfield Services Limited
· Schlumberger Limited
· Superior Energy Services, Inc.
· Variperm Canada Limited
Sand Control Systems Market Dynamics
The augmenting demand for energy led by the mounting population throughout the world has stimulated the number of drilling activities. This is the crucial driver stimulating the growth of the global sand control market. Moreover, the expansion in offshore manufacturing and research activities accompanied by intensifying investments in the oil and gas projects across the Middle East and African Region will further strengthen the Sand Control Systems market size. For example, the investments in projects of oil and gas valued over USD 75 billion, with China being the leading player. These persisting projects in the nation account for USD 68.1 billion out of USD 75 billion. Furthermore, several beneficial advantages, which include the potential to reduce the accumulated cost of production and extrication, enhance the productivity of the well, and stabilize the reservoir, will supplement the market growth. However, as per the Sand Control Systems market research, fluctuating prices of crude oil impacting the drilling activities will hamper the market's growth.
Location Segment Drivers
Based on the location, onshore is expected to expand at a faster rate over the coming years. This is primarily attributed to the aggravating acquisition of these systems owing to the existence of various onshore oil & gas wells, soaring drilling activities of the onshore wells led by the development of unconventional hydrocarbons.
Type Segment Drivers
On the basis of the type, the gravel pack is contemplated to hold a major share over the coming years. This is because of their surging demand by numerous companies because of their features, including better productivity, less drawdown owing to their suitability for tight sand formations, and long life.
Regional Drivers
Based on the regional coverage, Asia-Pacific will expand at a faster CAGR over the coming years. This is because of the growing demand for oil from countries like China owing to the amplification in industrial activities and accelerating urban population. In addition, the augmenting investment by various leading market players further drives the market share. For instance, the foreign firms registered in China with net assets of USD 43 million were authorized to participate in the exploration and production activities in the country.
Sand Control Systems Market Segmentation:
Segmentation by Location
· Offshore
· Onshore
Segmentation by Technique
· Gravel Packing
· Plastic Consolidation
· Rate Exclusion
· Maintenance & Workover
· Selective Completion Practices
· High Energy Resin Placement
· Others
Segmentation by Type
· Frack Pack
· Gravel Pack
· Inflow Control Devices
· Sand Screens
· Others
Segmentation by Well Type
· Cased Hole
· Open Hole
Segmentation by Region:
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· North America
o United States of America
o Canada
· Europe
o United Kingdom
o France
o Spain
o Germany
o Rest of Europe
· RoW
o Brazil
o UAE
o Saudi Arabia
o South Africa
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research, market research, and the consulting company provide insights and market research reports for every enterprise. Our research team helps understand the influence of market dynamics such as size, share, drivers, growth opportunities, and other aspects. We collect all the relevant information about the industry, implying both internal and external databases. The prime emphasis is to keep our clients updated about the transpiring opportunities and challenges in different industries. Our step-by-step assistance to our clients through strategic services helps them to reach a managerial and actionable decision.
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