Worldwide Well Intervention Market Forecast to 2023 - The Shale Boom in Americas and Asia Pacific is Driving Demand

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Dec 12, 2018, 06:15 ET

DUBLIN, Dec. 12, 2018 /PRNewswire/ --

The "Well Intervention Market by Services (Logging & Bottomhole Survey, Tubing/Packer Failure & Repair, Stimulation, Sand Control, Artificial Lift, Fishing, Others), Type (Light, Medium, Heavy), Application & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

At present, the well intervention market is dependent on oil prices. The crude oil prices had declined from an average of USD 94/bbl in 2014 to about USD 42/bbl in 2016 due to the oversupply of oil across the globe. However, the prices have shown recovery in 2017 & 2018 due to planned production cuts by OPEC countries.It is expected that the oil prices would sustain at 75-80/bbl levels for 2019 and increase in oil production would propel the demand for well intervention services, especially in OPEC countries.

The global well intervention market was estimated to be valued at USD 8.48 billion in 2018 and is projected to reach USD 11 billion by 2023, at a CAGR of 5.35%, during the forecast period.

The factors driving the market include reactivation of mature oilfields, shale boom in the Americas and the Asia Pacific, the upsurge in oil & gas production, an increase in global energy demand.

Strict environment regulations on exploration and production activities and increasing focus on renewable energy are expected to act as a restraint for the growth of the well intervention market.

The Stimulation segment is expected to dominate the Well intervention market from 2018 to 2023.

The Stimulation segment held the largest market share in 2018 and is estimated to be the fastest growing segment during the forecast period. It is majorly driven by the increasing demand for hydraulic fracturing & matrix treatments. These services are performed to restore and enhance the production of a well that is hindered by skin formation near the wellbore area. This is a frequent problem in producing wells. There are two types of remedial stimulation methods: hydraulic fracturing and matrix treatments. The demand for hydraulic fracturing is increasing in the Americas, making it a lucrative market.

Offshore segment is expected to be the fastest growing segment in the Well intervention market during the forecast period.

The Offshore segment led the Well Intervention market in 2018 and is expected to be the fastest growing market during the forecast period. This growth is majorly driven by increasing deepwater drilling and production activities and by the increasing number of maturing subsea wells.

The major players in the well intervention market are Halliburton (US), Schlumberger Limited (US), Baker Hughes a GE Company (US), Weatherford (Switzerland), Superior Energy Services, Inc. (the US), Archer (Norway), Expro Group (UK), and C&J Energy Services, Inc. (US).

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Break-Up of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Well Intervention Market
4.2 North America Well Intervention Market, By Type & Country
4.3 Well Intervention Market, By Service Type
4.4 Well Intervention Market, By Type

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Reactivation of Mature Oilfields
5.2.1.2 Shale Boom in Americas and Asia Pacific
5.2.1.3 Upsurge in Oil & Gas Production
5.2.1.4 Increase in Global Energy Demand
5.2.2 Restraints
5.2.2.1 Increasing Focus on Renewable Energy
5.2.2.2 Strict Government Regulations on E&P Activities
5.2.3 Opportunities
5.2.3.1 New Oilfield Discoveries
5.2.3.2 Demand for Well Intervention in Subsea
5.2.4 Challenges
5.2.4.1 High-Temperature Intervention Challenges
5.2.4.2 Application of Artificial Lift Technique of Well Intervention in Horizontal Wells
5.3 Impact of Crude Oil Price on Well Intervention

6 Well Intervention Market, By Service
6.1 Introduction
6.2 Logging & Bottomhole Survey
6.2.1 Europe is the Second Largest Market in Logging & Bottomhole Survey
6.3 Tubing & Packer Failure & Repair
6.3.1 North America is Expected to Have the Largest Market Share in Tubing & Packer Failure & Repair Service Segment
6.4 Stimulation
6.4.1 Demand for Hydraulic Fracturing in the American Region Offers A Lucrative Opportunity to the Stimulation Service Providers
6.5 Remedial Cementing
6.5.1 Complexity in Carrying Out E&P Activities at Unconventional Reserves is Expected to Drive the Remedial Cementing Segment
6.6 Zonal Isolation
6.6.1 Increase in Oil & Gas Production From Mature Wells Drives the Zonal Isolation Market
6.7 Sand Control
6.7.1 Redevelopment of Aging Reservoirs Provides A Lucrative Opportunity for the Sand Control Market
6.8 Artificial Lift
6.8.1 Middle East is Projected to Be the Fastest Growing Market for the Artificial Lift Segment
6.9 Fishing
6.9.1 North America Held the Largest Share of the Fishing Segment
6.10 Reperforation
6.10.1 Increase in Production From Mature Wells is Likely to Support the Growth for Reperforation Segment
6.11 Others

7 Well Intervention Market, By Application
7.1 Introduction
7.2 Onshore
7.2.1 North America Holds the Largest Market Share of the Onshore Well Intervention Market
7.3 Offshore
7.3.1 New Offshore Oilfield Discoveries and Rising Offshore Investments Drives the Market During the Forecast Period

8 Well Intervention Market, By Intervention Type
8.1 Introduction
8.2 Light Well Intervention
8.2.1 Rising Adoption of Riserless Light Well Intervention (Rlwi) Vessel for Offshore Operations Assists the Growth of This Segment
8.3 Medium Well Intervention
8.3.1 Rise in Developments From the Unconventional Reserves With the Support of Snubbing Units Makes This the Fastest Growing Segment
8.4 Heavy Well Intervention
8.4.1 Developments in Mature Fields Supports the Adoption of Heavy Well Intervention Services

9 Well Intervention Market, By Region
9.1 Introduction
9.2 North America
9.2.1 By Service
9.2.2 By Application
9.2.3 By Intervention Type
9.2.4 By Country
9.2.4.1 US
9.2.4.1.1 Developments in Shale Gas Drives the US Well Intervention Market
9.2.4.2 Canada
9.2.4.2.1 Developments of Unconventional Reserves Drive the Well Intervention Market in Canada
9.3 Europe
9.3.1 By Service
9.3.2 By Application
9.3.3 By Intervention Type
9.3.4 By Country
9.3.4.1 Russia
9.3.4.1.1 Investments for the Development in Arctic Offshore is Expected to Drive the Offshore Well Intervention Market in Russia
9.3.4.2 UK
9.3.4.2.1 Redevelopments of Brown Field Drives the Well Intervention Market in UK
9.3.4.3 Norway
9.3.4.3.1 E&P Activities in Ncs Drives the Well Intervention Market
9.3.4.4 Denmark
9.3.4.4.1 Offshore E&P to Support Well Intervention Market
9.3.4.5 Rest of Europe
9.4 Asia Pacific
9.4.1 By Service
9.4.2 By Application
9.4.3 By Intervention Type
9.4.4 By Country
9.4.4.1 China
9.4.4.1.1 Depleting Oil & Gas Fields Support the Well Intervention Market in China
9.4.4.2 India
9.4.4.2.1 Rising Investments for Offshore E&P Activities are Expected to Drive the Well Intervention Market During Forecast Years
9.4.4.3 Australia
9.4.4.3.1 Increase in Drilling Activities to Support the Well Intervention Market
9.4.4.4 Indonesia
9.4.4.4.1 The Decline in Oil & Gas Production is Expected to Support the For Applications and Drive the Well Intervention Market
9.4.4.5 Malaysia
9.4.4.5.1 Deepwater Explorations and Enhancing Oil & Gas Production From Existing Fields Drives the Well Intervention Market
9.4.4.6 Rest of Asia Pacific
9.5 South & Central America
9.5.1 By Service
9.5.2 By Application
9.5.3 By Intervention Type
9.5.4 By Country
9.5.4.1 Mexico
9.5.4.1.1 Investments for Developing Shale Resources to Drive the Well Intervention Market in Mexico
9.5.4.2 Brazil
9.5.4.2.1 Offshore Developments to Drive the Well Intervention Market in Brazil
9.5.4.3 Venezuela
9.5.4.3.1 Offshore Reserves are Expected to Offset the Declining Onshore Production in Venezuela and Drive the Well Intervention Market
9.5.4.4 Argentina
9.5.4.4.1 Development for Shale Reserves to Drive the Well Intervention Market
9.5.4.5 Rest of South & Central America
9.6 Middle East
9.6.1 By Service
9.6.2 By Application
9.6.3 By Intervention Type
9.6.4 By Country
9.6.4.1 Saudi Arabia
9.6.4.1.1 Enhanced Crude Production From Onshore Fields and the Surge in Offshore Exploration to Drive the Well Intervention Market
9.6.4.2 UAE
9.6.4.2.1 For Applications at Existing Mature Fields A Driving Force for Well Intervention Services in UAE
9.6.4.3 Iraq
9.6.4.3.1 Increasing Production From Onshore Fields to Support the Well Intervention Market in Iraq
9.6.4.4 Iran
9.6.4.4.1 Onshore Segmented is Estimated to Drive Market in Iran
9.6.4.5 Qatar
9.6.4.5.1 Enhancing Production of Crude to Support the Well Intervention Market in Qatar
9.6.4.6 Kuwait
9.6.4.6.1 Upcoming Investments in the Oil Fields are Likely to Boost the Well Intervention Market
9.6.4.7 Rest of the Middle East
9.7 Africa
9.7.1 By Service
9.7.2 By Application
9.7.3 By Intervention Type
9.7.4 By Country
9.7.4.1 Nigeria
9.7.4.1.1 Developments of Mature Oil & Gas Fields to Support Well Intervention Market During the Forecast Years
9.7.4.2 Algeria
9.7.4.2.1 Investments in Upstream Sector are Likely to Boost the Well Intervention Market in the Country
9.7.4.3 Angola
9.7.4.3.1 Deepwater Developments to Drive the Well Intervention Market
9.7.4.4 Rest of Africa

10 Competitive Landscape
10.1 Overview
10.2 Ranking of Players
10.3 Competitive Scenario
10.3.1 New Product Launches
10.3.2 Expansions & Investments
10.3.3 Contracts & Agreements
10.3.4 Mergers & Acquisitions

11 Company Profiles
11.1 Benchmarking
11.2 Halliburton
11.3 Schlumberger Limited
11.4 Baker Hughes, A GE Company
11.5 Weatherford
11.6 C&J Energy Services, Inc.
11.7 Superior Energy Services, Inc.
11.8 Archer
11.9 Expro Group
11.10 Oilserv
11.11 Altus Intervention
11.12 Welltec
11.13 Trican

For more information about this report visit https://www.researchandmarkets.com/research/c9xbzg/worldwide_well?w=5

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