Well Cementing Market Worldwide Analysis, Progress Strategies, Manufacturers, Trends, Challenges, Opportunities and Regional Outlook Forecast To 2023
Mar 11, 2019
Market Research Future published a research report on Well Cementing Market Research Report - Forecast to 2023 Market Size, Share, Drivers, Analysis, Regional Outlook, Scope, Stake, Progress, Trends and Forecast to 2023.
Pune, India - March 11, 2019 /MarketersMedia/ —
Global Well Cementing Market - Overview
Global well cementing market size estimated to be valued at USD 872 million by 2023 with a CAGR of approx. 4.50%. Well cementing is the process of filling the cement in the spaces of well bore. It is one of the most important aspects of the drilling activity and its completion process. Cementing holds the well, preventing the slurry from coming out of the walls. The main function of well cementing is to seal the inner line of the well, control corrosion, and provide uniformity and strength to pipes. Proper cementing of the well avoids accidents. For cementing of wells, following procedures needs to be done which include proper laboratory testing of slurry amount of water present in slurry and other dry mixtures.
The key drivers of well cementing market are technological advancements in tools, innovation in technology to reduce the time consumption, exploration in unconventional resources, skilled labour in upstream sector, mature oil and gas field and increment in ultra-deep exploration activities.
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Well Cementing Market Segments Analysis
The global well cementing market is further segmented on the basis of Type, Well Type and Region.
Based on the type, the global well cementing market is bifurcated into Primary, Remedial and others. The primary type market held largest portion in the market because of its availability, properties and application in the previous years.
Based on the well type, the global well cementing market is segmented on the basis of onshore and offshore.
Offshore oil production holds about 35% share of the total oil production, globally. Since a few years, deep water and ultra-deep wells are being explored to increase the production and strengthen the market. A few unreachable prospects have been achieved due to advancements in drilling technology, dynamic equipment positioning, cementing units, and drilling units. However, improvements in technology and services help the service providers, gain better accessibility to deep-water wells, which are otherwise difficult to access compared to land exploration and shallow water.
Based on regions, offshore activities are mostly carried out in North America including Brazil, and U.S., which have encouraged other countries to increase their ultra-deep water and deep-water processes. For example, Brazil and United States together account for about 90% of global ultra-deep-water projects; expected to grow during the forecast period. In terms of revenue, in the year 2016, the contribution from North America was the highest, with about 38% of the global share.
Competitive Analysis
The major key player in global well cementing market are Schlumberger Limited (U.S.), Halliburton (U.S.), Baker Hughes Incorporated (U.S.), Trican Well Service Ltd. (Canada), Weatherford (U.S.), Nabors Industries Ltd (Bermuda), China Oilfield Services Limited (China), Transocean Ltd. (Switzerland), Valluorec (France), Tmk (Russia), AES Precast Co Inc, Inc. (U.S.), GOES GmbH (Germany), GE Oil & Gas (U.S.) and they are highly proficient to give premium service in the industry.
Table of Content
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Bargaining Power of Suppliers
3.1.4 Threat of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
Continued ..
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List of Tables
Table 1 Global Well Cementing Market: By Region, 2018-2023
Table 2 North America Well Cementing Market: By Country, 2018-2023
Table 3 Europe Well Cementing Market: By Country, 2018-2023
Table 4 Asia Pacific Well Cementing Market: By Country, 2018-2023
Table 5 Row Well Cementing Market: By Country, 2018-2023
Table 6 Global Well Cementing Market by Type: By Regions, 2018-2023
Table 7 North America Well Cementing Market by Type: By Country, 2018-2023
Continued ..
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Source: MarketersMedia
Release ID: 490625
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