Horizontal Completions Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
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:
Names of other notable players in the global horizontal completions market are listed below:
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 a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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