Horizontal Completions Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Horizontal Completions Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : October, 2020 | Energy & Mining | PPT format

Report Digest


Global Horizontal Completions Market – Overview

The general purpose of drill and horizontal completion wells is to improve the production of crude oil and gas. Horizontal wells have become an industry standard for tight and unconventional formation gas reservoirs. Due to these reservoirs have lower quality pay, it thus needs a highly well-planned fracture and completion stimulations to make an economic well. Advancements in the zonal isolation in the horizontal wells are expected to have a significant impact on the development of the global horizontal completions market.

Global Horizontal Completions Market – Notable Developments

Some of the notable developments in the global horizontal completions market are given below:

  • In June 2018, National Oilwell Varco Inc., another big name in the global horizontal completions market, announced that the company has launched GoConnect™ - an intervention and stimulation equipment for condition monitoring services. The equipment can provide real-time monitoring of processes, condition-based maintenance capacities for the company’s pressure pumping, and predictive analysis. The equipment can also offer coiled tubing, wireline equipment, and nitrogen.
  • Recently, MHWirth, a key player in the global horizontal completions market, announced that the company has been successful in securing a contract for the delivery of its flagship DEAL™ - automated drilling control system – on all the Transocean floater that is presently in operation on the Norwegian Continental Shelf. There are total five such floating units across the belt. The company will be working on these floaters for Equinor.

Names of other notable players in the global horizontal completions market are listed below:

  • Chengdu Zhonghang Machinery Co. Ltd.
  • CMIC Ocean En-Tech Holding Co. Ltd.
  • RM Holding BV
  • Schlumberger Ltd.

Global Horizontal Completions Market – Drivers and Restraints

There are several factors that are helping to drive the growth of the global horizontal completions market. One of the primary driving factors is the rebound in the active rig count due to the steady recovery in the prices of oil. The steady recovery of the crude and natural oil prices across multiple active rigs in both offshore and onshore drilling sites has increased in recent years. This has also helped in driving the growth of the global horizontal completions market. The demand for the market is also fueled by the increasing requirement of oilfield equipment including the horizontal completion drilling equipment.

One key trend that has been observed in recent years is the advancements in the zonal isolation in horizontal wells. Zonal isolation is necessary to prevent the mixing of water or gas of one oil field with that of the another. To enhance this process of isolation, several vendors are now working on developing newer technologies. Enhancement in the zonal isolation will certainly help in improving the production of the wells and also help in propelling the adoption of horizontal wells. Such trends are thus expected to play a key role in the development of the global market.

Global Horizontal Completions Market – Geographical Outlook

The global horizontal completions market is geographically divided into five key regions. These regions are North America, South America, Asia Pacific, the Middle East and Africa, and Europe. Of these, the global market is expected to be dominated by North America. This growth of the North America horizontal completions market is primarily driven by increasing technological advancements in the drilling technologies and improved production volumes. The US and Canada are the key contributors to the growth of the North America market. The increasing adoption of horizontally drilled wells across North America is also fueled due to the better production output generated as compared to the conventional drilling methods. In addition to this, governments in the region are promoting the adoption of E&P drilling activities. This is also helping to push the growth of the horizontal completions market in the region.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?