Sand Control Systems Market to experience a healthy CAGR of 4.0%
February 19, 2020
Sand Control System Market Overview:
Sand Control Systems Market is likely to witness an impressive CAGR of 4.0% during the forecast period. Rising oil & gas production, high day rates of offshore rigs, escalating drilling activities in the Asia-Pacific region, ease of drilling and production of gas and growth in number of wells are the prime factors driving the growth of the sand control systems market.
Report Overview:
This report, from Stratview Research, studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Sand Control System Market Segment Insights:
Gravel Pack Segment: The growth engine
Based on the technique type, the market is segmented as gravel pack, frac pack, sand screens, inflow control devices, and others. The gravel pack segment led the sand control systems market in 2019, and is estimated to govern the market during the forecast period. Increasing drilling of epidemic oil and gas fields in onshore regions across the world attributed for the largest market share of the gravel pack segment in 2019. The inflow control devices segment is likely to register the fastest growth during the forecast period. Increasing age limit of the well and reduction in expenditure are the main factors driving the inflow control technique segment of the sand control systems market during the forecast period.
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Dominance of: The Open hole segment
Based on the well type, the market is categorized as open hole and cased hole. The cased hole segment dominated the market in 2019. The open hole segment is expected to offer lucrative growth opportunities during the forecasted period. The segment shows the increasing adoptability in deep water and offshore oil projects owing to progress in demand for reliable installations and to ensure productivity of wells for a longer period of time.
A highly/moderately/fragment consolidated Market
Some of the major players in the sand control systems market are Baker Hughes, Halliburton, Schlumberger, Weatherford, and National Oilwell Varco, among others.
Regional Hegemony of North America
North America is estimated to dominate the managed pressure drilling services market during the forecast period. The USA is likely to lead the North American market by capturing the maximum share. On the other hand, RoW is expected to grow at the fastest rate during the forecast period, owing to the recent discoveries shaping up in offshore in countries, such as Angola, Tanzania, and Mozambique.
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