(MENAFN- America News Hour) The completion equipment means all equipment required to make a well fully prepared for oil and gas production. The well completion involves steps like well casing, perforating, gravel packing, tubing and installing well head and lifting equipment. Completion and production consists of cementing, stimulation, well intervention, pressure control, pipeline and process services and completion services.
The services include installation, maintenance, repairs and testing services also.For this purpose, several equipments like safety valves, sand control tools, liner hangers and packers are required.
Different players are entering the oil exploration market with huge capital and they require completion equipment. With the development of non-conventional and offshore oil exploration methods, the global market for completion equipment will be one of the fasted growing markets in the world.
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Market Dynamics
The market drivers for completion equipment are increased energy demand, increased offshore exploration activity around the world and several operators trying to find new oil and gas reserves. Exploration of oil and gas and extraction of hydrocarbons from deep sea, arctic region and shale reserves is on the rise. Such explorations require technologically advanced completion equipment and therefore opportunities are many for the right players.
There is a significant shift from conventional oil exploration methods to non conventional methods. Oil and gas exploration market and completion equipment market are directly related to each other and the rise and fall in any of the two will have an impact on the other. Fluctuating crude prices is one such factor.
Market Segmentation
1) By Type
Packers equipment
Sand control tool
Liner Hangers
Safety Valves
Multi- stage fracturing tools
Smart wells
Others
2) By Application
Offshore
Onshore
Regional/ Geographic analysis
North America dominates the well completion equipment and services market and Africa is expected to grow at the highest rate.Asia- pacific exploration activity is at an all time high from the last 4-5 years. This growth is led by China due to shale revolution. In the North Sea, the exploration activity in the deep water needs sophisticated equipment and technology and therefore the oil and gas exploration activity in Europe is progressing at a moderate speed. Netherland and Norway offer good opportunity for tubular goods.
The growth in the North America is due to shale revolution and the presence of large drilled but not completed (DUC) wells especially in USA. Deep water discoveries in South America and Africa will propel the growth in demand of the well completion equipment and services market in these regions.
Market Opportunities
Synchronizing with growing investment in energy and power sector
Possibilities of Shale gas production in the Asia- Pacific countries
Developing countries like India and Brazil will enhance the market demand
Availability of cheap labor in countries like China and India.
Technological advancements in the machinery and processes
Ample oil and gas resources will attract global players
Restraints
Regulatory challenges
Environmental issues
Depleting oil reserves
High initial investments
Lack of skilled labor
Fluctuating prices of crude
Key Players
National Oilwell Varco
Welltec
Schlumberger Limited
Halliburton
NCS Multistage LLC
RPC Inc
Report Contents Regional Analysis Report Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R & D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
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Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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