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Completion Equipment & Services Market Growth Rate 2019 | Rising Trends, Demand Status and Growth Potential in Energy & Power Sector Forecast to 2024

Completion

Report Titled: “Completion Equipment & Services Market – Segmented by Location and Geography – Growth, Trends, and Forecast (2019 – 2024)

The report provides deep insights into Completion Equipment & Services Market related to industry size, share, types, applications, and forecast details. The report covers all the essential information of top key players and relevant regions. Completion Equipment & Services market report analyzed the market present condition, profit, loss, capacity, productions, consumption and growth rate of the market. In the end, the report introduced SWOT analysis, investment feasibility, and return analysis of the market.

Scope of the Report:

  • This report studies the global Completion Equipment & Services market size, industry status and forecast, competition landscape and growth opportunity.

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    Market Overview:

  • The total wells completed globally had increased from 52,086 in 2016 to 58,294 in 2017, registering a year-on-year growth of 11.91%. The completion equipment & services market recovered in 2017 on account of increase in drilling activity, especially in the US. With shale gas being commercially profitable for the North American region, the exploration & production activities have been increasing at a rapid pace in the region, thus driving the demand for well completion equipment & services. High drilled but uncompleted (DUC) well count in the US is expected to hinder the growth of the market studied.
  • – Offshore sector is expected to be a potential market in the completion equipment & services market as the cost of operation in the offshore locations declined significantly over the past few years, which has encouraged the industry to step up its expenditure gradually, in the coming years.
  • – North America dominated the market across the globe with the largest contribution from the countries such as the US and Canada.

    List of Top Key Players are as Follow:

  • Schlumberger Ltd
  • Baker Hughes Inc. a GE Company
  • Superior Energy Services
  • Halliburton Company
  • Nabors Industries Ltd
  • NCS Multistage LLC
  • Nine Energy Services Inc
  • National Oilwell Varco Inc.
  • Packers Plus Energy Services Inc.
  • FTS International Inc.
  • Weatherford International PLC

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    Key Market Trends:

    Increasing Demand from Offshore Sector

    – The offshore oil and gas industry is moving toward deeper waters, owing to declining shallow water reserves. The situation has resulted in growing distance from shore to the offshore platform.
    – The deepwater oil breakeven prices have dropped by almost 30% during 2014-2017. The drop in oil prices was mainly driven by a change in operators’ policy to focus on cost cuttings. The average breakeven oil prices for deepwater projects are below USD 50 per barrel as of 2018.
    – Due to the higher oil prices and lower breakeven prices, major operators, like Equinor SA, Shell PLC, and Exxon Mobil amongst others, have announced plans to invest in a number of deepwater projects. Owing to this development, the offshore oil and gas industry spending improved significantly, particularly during the second half of 2018.
    – Brazil is one of the largest markets for deepwater oil and gas projects. The Brazilian oil and gas market is driven by successful regulatory changes and improving financials. The Brazilian government is aiming 2 MMb/d of additional oil production by 2027, mostly from deepwater areas. The country is expected to sanction 10 FPSOs, highest in the world, during 2019-2021.
    – The increasing focus towards the deepwater oil & gas reserve is expected to help in recovery of the demand for completion equipment & services market.

    North America Region to Dominate the Market

    – North America is projected to dominate the demand for the completion equipment & services market. Technological innovations, such as such as horizontal drilling and hydraulic fracturing, have led to robust growth in the production of unconventional fossil fuels, notably, shale gas and tight oil, in the United States and Canada.
    – The United States is expected to witness robust growth during the forecast period. The United States was one of the major oil importing countries. With shale revolution in the United States, the country has become the second largest oil producer, after Saudi Arabia.
    – As of May 2019, the United States recorded 987 active rigs. US exploration & production companies have been investing significantly on drilling and well completion projects. Permian remains an attractive basin for the exploration & production activities in the country.
    – In 2018, the trend of increasing drilling activity continued, but the trend has reversed 2019. Main cause of reversal in trend was the lack of oil pipeline takeaway capacity in key basins such as Permian and Eagle Ford.
    – In 2019 and beyond, about 10,000 miles of pipeline is expected to come online in the US and Canada, in turn, reducing the impact of bottleneck in midstream sector, which is expected to drive the drilling and completion activity during the forecast period

    Reasons to Buy Completion Equipment & Services Market Report:

    • In-depth analysis of the market on the global and regional level.
    • Major changes in market dynamics and competitive landscape.
    • Segmentation on the basis of type, application, geography, and others.
    • Historical and future market research in terms of size, share, growth, volume & sales.
    • Major changes and assessment in market dynamics & developments.
    • Industry size & share analysis with industry growth and trends.
    • Emerging key segments and regions
    • Key business strategies by major market players and their key methods.
    • The research report covers size, share, trends and growth analysis of the Completion Equipment & Services Market on the global and regional level.

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    Detailed TOC of Completion Equipment & Services Market Report are:

    1. INTRODUCTION
    1.1 Scope of Study
    1.2 Market Definition
    1.3 Study Assumptions
    1.4 Study Deliverables
    1.5 Research Phases

    2. RESEARCH METHODOLOGY

    3. EXECUTIVE SUMMARY

    4. MARKET OVERVIEW
    4.1 INTRODUCTION
    4.2 Market Size and Demand Forecast until 2024 (in USD billion)
    4.3 Recent Trends and Developments
    4.4 Government Policies and Regulations
    4.5 Market Dynamics
    4.5.1 Drivers
    4.5.2 Restraints
    4.6 Industry Supply-Chain Analysis
    4.7 Porters 5 Force Analysis
    4.7.1 Bargaining Power of Suppliers
    4.7.2 Bargaining Power of Consumers
    4.7.3 Threat of New Entrants
    4.7.4 Threat of Substitute Products and Services
    4.7.5 Intensity of Competitive Rivalry

    5. MARKET SEGMENTATION
    5.1 Location
    5.1.1 Onshore
    5.1.2 Offshore
    5.2 Geography
    5.2.1 North America
    5.2.1.1 United States
    5.2.1.2 Canada
    5.2.1.3 Rest of North America
    5.2.2 Asia-Pacific
    5.2.2.1 China
    5.2.2.2 India
    5.2.2.3 Indonesia
    5.2.2.4 Rest of Asia-Pacific
    5.2.3 Middle East & Africa
    5.2.3.1 Saudi Arabia
    5.2.3.2 Iran
    5.2.3.3 Egypt
    5.2.3.4 UAE
    5.2.3.5 Rest of Middle East & Africa
    5.2.4 Europe
    5.2.4.1 United Kingdom
    5.2.4.2 Norway
    5.2.4.3 Russia
    5.2.4.4 Rest of Europe
    5.2.5 South America
    5.2.5.1 Brazil
    5.2.5.2 Argentina
    5.2.5.3 Rest of South America

    6. COMPETITIVE LANDSCAPE
    6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
    6.2 Strategies Adopted by Leading Players
    6.3 Company Profiles
    6.3.1 Schlumberger Ltd
    6.3.2 Baker Hughes Inc. a GE Company
    6.3.3 Superior Energy Services
    6.3.4 Halliburton Company
    6.3.5 Nabors Industries Ltd
    6.3.6 NCS Multistage LLC
    6.3.7 Nine Energy Services Inc
    6.3.8 National Oilwell Varco Inc.
    6.3.9 Packers Plus Energy Services Inc.
    6.3.10 FTS International Inc.
    6.3.11 Weatherford International PLC
    6.3.12 Welltec A/S

    7. MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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    Name: Ajay More

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