Global Sand Control Systems Market: Introduction
Sand control refers to managing/minimizing sand and fine production during petroleum production. Sand and fine produced with oil and gas can cause erosion and wear of production facilities/equipment, resulting in production downtime, expensive repairs, and potentially loss of containment. The global Sand Control Systems Market is estimated to value at nearly US$ 2.9 Bn in 2019, and is expected to register a CAGR of 6.8%.
Global Sand Control Systems Market: Dynamics
Increasing number of onshore and offshore drilling activities as well as rising demand for oil & gas globally is resulting into high demand for sand control systems. This in turn is expected to drive growth of the global sand control systems market over the forecast period. In addition, increasing number of wells drilled and development of hydrocarbon reserves are among some of the major factors expected to boost growth of the global market during the forecast period.
Moreover, increasing government initiatives to cater on-going oil & gas demand volumes through implementation of various policies and Foreign Direct Investment (FDI) and also, increasing and merger and acquisition activities are some of the major factors expected to support growth of the global sand control systems market. These initiatives in turn is expected to proliferate growth of the global market in the near future.
Growing need for sand control systems that provides benefits such as reduced corrosion of equipment and increased production rate is another factor expected to fuel growth of the potential market.
Analysis By Segmentation:
The market report has been segmented on the basis of well type, technique, application, and region. The well type segment includes cased hole and open hole. The technique segment includes gravel pack, frac pack, sand screens, inflow control devices, and others. The application segment includes onshore and offshore. The region includes the North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Well Type:
The cased hole segment is expected to register highest CAGR of over 6.9% over the forecast period in the global market
The gravel pack segment is expected to register highest CAGR of over 7% over the forecast period in the global market
The offshore segment is expected to register highest CAGR of over 7.5% over the next 10 years in the global market
The market in North America is expected to register highest CAGR of over 7% during the forecast period in the global market
Global Sand Control Systems Market: Competitive Analysis
The research report on the global sand control systems market includes profiles of some of the major companies such as Schlumberger Limited, Weatherford International plc, Halliburton Company, Dialog Group Berhad, Tendeka B.V., Interwell Norway AS, Packers Plus Energy Services Inc., National Oilwell Varco, Inc., Superior Energy Services, Inc., and Variperm (Canada) Limited
The Global Sand Control Systems Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global sand control systems market for 2018–2028.
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