Global Well Intervention Market is expected to rise from its initial estimated value of USD 8.75 billion in 2018 to an estimated value of USD 13.37 billion by 2026, registering a CAGR of 5.45% in the forecast period of 2019-2026. Increasing demand for energy is the major factor driving the growth of this market.
Major Market Competitors/Players
Few of the major competitors currently working in the well intervention market are Halliburton, Schlumberger Limited, Baker Hughes, a GE company, Weatherford, C&J Energy Services, Inc., Superior Energy Services, Inc., Expro Group, OiLSERV, ALTUS INTERVENTION, Welltec, TRICAN, National Oilwell Varco, PRECISION DRILLING CORPORATION, Odfjell Drilling Ltd., Axis Well Technology.
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Well intervention or well works, are usually used in the oil and gas industry so that the production interval can be improved. With well control technologies, they helps in entering a well safely. Pumping, slickline, braided line, snubbing, workover etc. are some of the common types of well work. There main aim of the well intervention is to manage the production of the well.
Global well intervention market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of well intervention market for global, Europe, North America, Asia-Pacific and South America.
Segmentation: Global Well Intervention Market
- By Service (Logging & Bottomhole Survey, Tubing & Packer Failure & Repair, Stimulation, Remedial Cementing, Zonal Isolation, Sand Control, Artificial Lift, Fishing, Reperforation, Others),
- By Applications (Onshore, Offshore)
- By Intervention Type (Light Well Intervention, Medium Well Intervention, Heavy Well Intervention)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
- Increasing oil & gas production is driving the growth of this market
- Rising discoveries in new oilfield is another factor driving the growth of this market
- Rising demand for renewable energy is restraining the growth of this market
- Increasing prevalence of artificial lift technique is another factor restraining the growth of this market
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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