Well Cementing Services Market Estimated To Reach $11.08 Billion By 2024 | Key Industry Players Schlumberger Ltd., Baker Hughes Inc., Halliburton


San Francisco, 18 December 2018 - The global well cementing services market is expected to reach USD 11.08 billion by 2024, according to a new report by Grand View Research, Inc. Rising drilling activities to recover unconventional hydrocarbons such as shale and tight gas coupled with rehabilitation activities in existing oil & gas fields is expected to remain a key driving factor for the global market.
A large number of unexplored reserves particularly in Brazil, Russia, and China, coupled with technological advancements in well cementing equipment and services provided by oil service providers is projected to have a positive impact on the market growth in near future.
Stringent environmental regulations coupled with low crude oil prices are expected to hindermarket growth over the next eight years. Low crude oil prices are anticipated to support stronger economic growth, but it may hamper growth among energy producing states.
Primary cementing was the leading service segment and accounted for over 75% of total market revenue in 2015. It is estimated to remain the largest segment over the next eight years owing to rising E&P to exploit unconventional hydrocarbon reserves.Remedial cementing is anticipated to emerge as the fastest growing well cementing service market over the forecast period owing to increasing rehabilitation of oil & gas wells in both onshore and offshore activities.
To request a sample copy or view summary of this report:
www.grandviewresearch.com/industry-analysis/well-cementing-services-market
Further key findings from the study suggest:

  • Onshore application dominated the global well cementing service demand and accounted for over 80% of total revenue in 2015. The rising onshore well operations, particularly in the U.S., Saudi Arabia, Russia, and China,may be attributed to the high growth in this particular segment.
  • North America emerged as the leading well cementing services consumer and accounted for 41.4% of the total revenue in 2015 owing to huge oil & natural gas production coupled with oilfield development especially in shale &tight oil reserves in the U.S. and Canada.
  • Asia Pacific well cementing services marketis anticipated to grow at a CAGR of 7.0% from 2016 to 2024.The high growth may be attributed to favorable government policies such as FDI and tax redemption in countries such as India, which is anticipated to promote E&P in the region.
  • The global industry is dominated by various integrated players present across the value chain. Key companies operating in the well cementing service market includeSchlumberger Ltd., Baker Hughes Inc., Halliburton, Weatherford & Gulf Energy Llc., and Calfrac Well Services Ltd.
Grand View Research has segmented the well cementing services market on the basis of service, application,and region:

Global Well Cementing Service Outlook (Revenue, USD Million, 2014 - 2024)
  • Primary
  • Remedial
  • Others
Global Well Cementing Application Outlook (Revenue, USD Million, 2014 - 2024)
  • Onshore
  • Offshore
Global Well Cementing Regional Outlook (Revenue, USD Million, 2014 - 2024)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Norway
    • UK
    • Russia
  • Asia Pacific
    • China
    • India
    • Indonesia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Nigeria
  • Central & South America
    • Brazil
    • Venezuela
Access Press Release Of This Research Report by Grand View Research: 
www.grandviewresearch.com/press-release/global-well-cementing-services-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Info: www.grandviewresearch.com

Comments

Post a Comment

Popular posts from this blog

Wave and Tidal Energy Market Set for Rapid Growth By 2025: Grand View Research, Inc.

Image
The global  wave and tidal energy market   size is expected to reach USD 3.9 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 42.5% CAGR during the forecast period. Need to reduce dependency on fossil fuels, increasing investments, and supportive government regulations are likely to fuel market growth over the coming years. The renewable energy sector has witnessed significant expansion in terms of installations worldwide in 2016. The capacities in wind, marine, solar, waste-to-energy, small geothermal and hydro sources, and biomass combined added up to 138.5 GW in 2016, up from 127.5 GW in 2015. Investments in electricity generation through novel renewable sources was twice in comparison to fossil fuels. Ocean energy is witnessing significant development in terms of new projects in various economies including U.K., Ireland, Sweden, Portugal, Thailand, India, Japan, China, Canada, and U.S., which is likely to fuel market growth over...
Read more

Electrostatic Precipitator Market Size To Reach $14.97 Billion By 2025 | Key Industry Players Mutares AG., ELEX AG

Image
San Francisco, 30 October 2018 - The global  electrostatic precipitator market  size is projected to be valued at USD 14.97 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.3% over the forecast period. Rising consumer awareness, inclination towards healthy lifestyle, and rise in air pollution are expected to drive the market growth. Rising adoption of air pollution control equipment, coupled with stringent government regulations, is expected to boost the global electrostatic precipitator market by 2025. Industrialization of energy and manufacturing industries is predicted to further enhance business growth over the forecast period. Increasing investments and technological advancements are expected to encourage expansion of the market for electrostatic precipitator in the forthcoming years. Critical air pollution level caused by vehicles and industries coupled with high demand for pollution controllin...
Read more