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 : December, 2019 | 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.

The study presents reliable qualitative and quantitative insights into:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand chain of the market
  • Market valuation (revenue and/or volume)
  • Key trends/opportunities/challenges
  • Forces defining present and estimated future state of the competitive landscape
  • Technological developments
  • Value chain and stakeholder analysis

The regional analysis covers:

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

The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.

Highlights of the report:

  • A detailed analysis of key segments of the market
  • Recent developments in the market’s competitive landscape
  • Detailed analysis of market segments up to second or third level of segmentation
  • Historical, current, and projected future valuation of the market in terms of revenue and/or volume
  • Key business strategies adopted by influential market vendors
  • Outline of the regulatory framework surrounding and governing numerous aspects of the market
  • Growth opportunities in emerging and established markets
  • Recommendations to market players to stay ahead of the competition

Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.

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