Offshore Wind Power Market: How the Business Will Grow in 2026? Prominent Players: General Electric, ABB, Siemens Gamesa, Goldwind, Nordex Group, MHI Vestas Offshore Wind, Senvion S.A., Envision Energy, Adwen Offshore, others

(MENAFN- The Expresswire) Offshore Wind Power Market: How the Business Will Grow in 2026? Prominent Players: General Electric, ABB, Siemens Gamesa, Goldwind, Nordex Group, MHI Vestas Offshore Wind, Senvion S.A., Envision Energy, Adwen Offshore, others

Posted on Oct 3 2019 5:21 AM

"Offshore Support Vessels Market key players are Bourbon, Edison Chouest Offshore, Tidewater Marine and GulfMark Offshore, Solstad Farstad, Nam Cheong International Ltd., Hornbeck Offshore Services, Havila Shipping, Maersk, Seam Offshore, and Seacor Marine"

The global well testing market is expected to gain momentumin response to therising adoption of IoT by oil and gas companies. According to a report by Fortune Business Insights, the market was valued at US$ 7.1 Bn in 2018. Furthermore, Fortune Business Insights predicts this market to reach US$ 11.3 Bn by the end of 2026, thus exhibiting a CAGR of 5.9%.

Browse Complete Report Details:https://www.fortunebusinessinsights.com/industry-reports/well-testing-service-market-100157

With the advent of advanced technology, IoToffers advanced cloud-based data analytics, which can help to delay the declining production of oil and gas to some extent. Hence, several petroleum operations are likely to adopt embedded sensor technologies in the near future. This is intended to gather operational data from some of the critical points to enhance the well performance and take decisions on-time.

Top Key Players:

• Schlumberger


• Halliburton


• Baker Hughes


• SGS S.A.


• Weatherford International


• BJ Services Company


• Petrofac


• Oil States Industries


• China Oilfield Services Ltd

sGet PDF Brochure:https://www.fortunebusinessinsights.com/enquiry/sample/well-testing-service-market-100157

Innovations in Well Testing Products by Leading Players Aimed at Increasing Market Share

The global well testing market ishighly fragmented in nature with leading players providing well testing solutions worldwide. Some of the leading companies are incessantly focusing on enhancing their timelines and improving service quality. The top three leading companies cover one-third of share of the global well testing market. Among these companies, Halliburton and Schlumberger account for majority of the share as per revenue in the global market. 

Schlumberger launched a new well testing service called motion compensated testing service tower in February 2018. This service was launched to reduce risk for deep-water operations and save time by enabling slickline operations in parallel with the drilling activity. Halliburton developed and delivered a well testing services campaign in January 2018 in Norway. The main objective of this campaign was to develop a customized, creative, and effective well testing solution at a low cost. Not only this, companies are also investing in R & D activities to design and develop innovative well testing methods.

Major Table of Contents:

1.1. Research Scope

1.2. Market Segmentation

1.3. Research Methodology

1.4. Definitions and Assumptions

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities

4.1. Key Emerging Trends For Major Countries

4.2. Key Developments: Mergers, Acquisition, Partnership, etc.

4.3. Latest technological advancement

4.4. Global Upstream Investment Scenario By Regions

4.5. Insights on Regulatory Scenario

4.6. Porters Five Forces Analysis

5.1. Key Findings

5.2. Market Analysis, Insights and Forecast By Service

5.2.1. Real Time Testing

5.2.2. Downhole Testing

5.2.3. Reservoir Sampling

5.2.4. Surface Well Testing

5.2.5. Others

5.3. Market Analysis, Insights and Forecast By Application

5.3.1. Onshore

5.3.2. Offshore

5.4. Market Analysis, Insights and Forecast By Region

5.4.1. North America

5.4.2. Europe

5.4.3. Asia Pacific

5.4.4. Middle East & Africa

5.4.5. Latin America

6.1. Key Findings

6.2. Market Analysis, Insights and Forecast By Service

TOC Continued…!

Speak to Analyst:https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/well-testing-service-market-100157

Real-time Testing Services to Witness Increasing Demand

Real-time testing services are likely to lead the global well testing market owing to their stabilized and optimized results. For well testing operators, real-time testing has emerged as an important tool to control fluctuations in crude oil prices and reinforce their position in the well testing industry.Offshore well testing activities are gaining more traction than onshore activities in oil and gas assets. Growing concern on reducing cost and someover optimized operations has led to increased demand for well testing services. These services are meant to improve the reservoir performance as well as productivity of the well.

North America to Lead Well Testing Services, Thanks to Rising Hydrocarbon Production

Among regions, North America is expected to hold the majority of share in the global well testing market throughput the forecast period. Rising expenditure on shale gas and E & P activities especially in Canada and the U.S. is likely to bolster the demand for well testing services by 2026. Europe and the Middle East & Africa are anticipated to registera higher growth rate between 2018 and 2026. This is ascribable to rising investments in countries such as Algeria, Nigeria, Egypt, and other Gulf countries. In addition to this, increasing offshore and onshore drilling activities may lead to a higher growth of the well testing market in these regions. Asia Pacific is also projected to rise at a considerable growth mainly on account of rising number of E & P activities in countries such as Indonesia, China, India, and Malaysia.

Discovery of New Oilfield Equipment to Propel Growth

The global well testing market is expected to grow substantially with the discovery of new oilfields. Well operators are continuously looking for cost-effective, efficient, and safe well testing methods. This will further offer optimum recovery and efficient production to old wells, thus giving them a new life. Fortune Business Insights suggests that such new oilfields are projected to offer considerable growth opportunities to the global market for well testing until 2026.

Purchase Full Report:https://www.fortunebusinessinsights.com/checkout-page/100157

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.