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  • Well Completion Equipment Market Growth Analysis | 2023-2028

    Well Completion Equipment Market Growth Analysis | 2023-2028

    Well Completion Equipment Market Growth Analysis | 2023-2028
    Report code - SEOG144 Delivery - 2 Weeks
    Well Completion Equipment Market Size, Share, Trends, Forecast, & Growth Analysis &nda See more...

    Market Insights

    The well completion equipment market is likely to witness an impressive CAGR of 4.80% during the forecast period.

    Well-Completion-Equipment-Market-Insights

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    What is well completion equipment?

    Well completion equipment entails completion as a process in which the well is drilled and prepared for further production of oil and gas. It injects and drills the well to the required depth and ensures optimum production.

    Well completion equipment is the equipment that brings oil to the finishing stage for the well testing post which, commercial production commences.

    Well Completion Equipment Market Report Highlights

    Market Growth (2023-2028)

    4.80% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Segments Covered

    By Application Type (Onshore and Offshore)

    By Variety Type (Packers, Sand Control Tools, Multistage Fracturing Tools, Liner Hangers, Valves, Smart Wells, and Others)

    By Region (North America, Europe, Asia-Pacific, and Rest of the World).

    Market Dynamics

    The well completion equipment market is driven by a host of factors, some of which are noted below:

    • Increase exploration, production, and completion activities to fulfill the world's expanding energy demand.
    • The global increase in demand for oil and gas is expected to drive market expansion for well-completion equipment.
    • An increase in the number of horizontal wells, as well as an increase in oil and shale gas output per rig, is a primary element driving the industry.
    • Growing investment in various exploration and production operations is another factor that will likely support industry expansion.

    Segment Analysis

    By Application Type

    The well completion equipment market is segmented as onshore and offshore. The onshore occupied a significant share of the market in 2022 and is expected to dominate the market during the forecast period.

    The North American region endorses its wells with the shale gas revolution in the U.S. along with the rise in the production from the Canadian tar sands. Additionally, the expenses incurred in oil & gas activities, such as drilling and completion are less onshore when compared to offshore applications.

    By Variety Type

    The market is further as packers, sand control tools, multistage fracturing tools, liner hangers, valves, smart wells, and others. The packers segment accounts for the largest market share of the market in 2022 and is projected to lead the market during the forecast period.

    This growth is due to the fact that packers are the most common and most widely used completion equipment. Although they are less expensive and reasonable as compared to other equipment, the large number of units used tends to raise its market size in terms of value.

    Regional Insights

    North America accounted for the highest share of the market in 2022 and is estimated to lead the market during the forecast period. The region shows a tremendous increase in the production of oil and gas in the offshore regions of the USA. On the other hand, Asia-Pacific is also gradually developing and expanding its well completion equipment facilities. Europe also plans to expand its services in countries, such as the UK, France, Germany, and Norway. Increasing demand for well-completion equipment has been observed in Africa and the Middle East also.

    Well-Completion-Equipment-Market-Regional-Insights

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    Critical Questions Answered in the Report

    • What are the key trends in the global market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the global market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Market Segmentation

    This report 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.

    The well completion equipment market is segmented into the following categories.

    By Application Type

    • Onshore 
    • Offshore

    By Variety Type

    • Packers
    • Sand Control Tools
    • Multistage Fracturing Tools
    • Liner Hangers
    • Valves
    • Smart Wells
    • Others

    By Region

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Well-Completion-Equipment-Market-Segmentation

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    Key Players

    Some of the major players in the market are-

    • Baker Hughes, Inc.
    • FTS International
    • Halliburton Company
    • Nabors Industries Ltd.
    • NCS Multistage
    • Nine Energy Services
    • National Oilwell Varco, Inc.
    • Packers Plus Energy Services, Inc.
    • RPC Incorporated
    • Schlumberger Ltd.
    • Superior Energy Services
    • Trican Well Service Ltd.
    • Weatherford International Plc
    • Welltec.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 800 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Well Completion Equipment Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Customization Options

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the variety types by application type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Well completion equipment entails completion as a process in which the well is drilled and prepared for further production of oil and gas. It injects and drills the well to the required depth and ensures optimum production.

    The well completion equipment market is likely to witness an impressive CAGR of 4.80% during the forecast period.

    North America accounted for the highest share of the market in 2022 and is estimated to lead the market during the forecast period. The region shows a tremendous increase in the production of oil and gas in the offshore regions of the USA.

    The onshore is expected to remain dominant in the market in the coming five years.

    The packers segment is expected to lead the market during the next five years.

    Resuming shale operations along with refracking of mature oil & gas wells are the factors driving the growth of the market.

    Baker Hughes, Inc., FTS International, Halliburton Company, Nabors Industries Ltd., NCS Multistage, Nine Energy Services, National Oilwell Varco, Inc., Packers Plus Energy Services, Inc., RPC Incorporated, Schlumberger Ltd., Superior Energy Services., Trican Well Service Ltd., Weatherford International Plc, and Welltec are among the key players in the market.