IMARC Group, a leading market research company, has recently releases report titled “Well Cementing Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global well cementing services market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Well Cementing Services Market?

The global well cementing services market size reached US$ 8.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.88% during 2023-2028.

Well cementing services comprise the method of applying cement to the gap found between the casings or filling and well bore, which is between two casing strings. They assist in sealing the lost circulation zone and areas that reduce flow within the wellbore and prevent the entry of water or other fluid into the well. As they benefit from corrosion control and enhance pipe strength, the demand for well cementing services is rising across the globe. 

What are the growth prospects and trends in the Well Cementing Services industry?

At present, the increasing adoption of well cementing services, as they restrain irregular pore pressure and provide resistance to cement from chemical deterioration represents one of the key factors strengthening the growth of the market.

Moreover, rising drilling activities for recovering hydrocarbon resources, such as shale and tight gas, and coal bed methane, is bolstering the growth of the market. Apart from this, the growing demand for energy among the masses around the world is positively influencing the market.

Additionally, the rising adoption of well cementing services, as they aid in ensuring the integrity and stability of an oil and gas well, is offering lucrative growth opportunities to industry investors. Furthermore, the increasing number of onshore and onshore projects across the globe is propelling the growth of the market.

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What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

• Primary

• Remedial

• Others

Breakup by Well Type:

• Oil

• Gas

• Shale Gas

Breakup by Application:

• Onshore

• Offshore

Breakup by Region:

• North America: (United States, Canada)

• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

• Latin America: (Brazil, Mexico, Others)

• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including: 

Advanced Cementing Services Incorporated, Baker Hughes Company, Calfrac Well Services Ltd., China Oilfield Services Limited (China National Offshore Oil Corporation), Gulf Energy SAOC (National Energy Services Reunited), Halliburton Company, Magnum Cementing Services Ltd., Sanjel Energy Services, Schlumberger Limited, Trican Well Service Ltd., Viking Services and Weatherford International PLC.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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