Overview:

Well, completion market is riding high on the benefits it is receiving from the surge in oilfield
exploration. Oil is an essential component that backs several industries and influence global
economies. Hence, the need for increase in production is much-needed. This has spurred the global
Well Completion Market Size, and it is now expected to achieve a 4.5% CAGR during the forecast
period (2018-2023). Market Research Future (MRFR) in their detailed report charted the predictive
course and forecasted a possibility of exceeding the valuation by the end of 2023.

The well completion market is expected to receive substantial boosts from governments as it can also
influence much the economy of the oil & gas production. With advents in technology, global
competitors are making the market more responsive with their strategies due to which the global
well completion market is all set to expand.

Segmentation:

MRFR’s analysis of the global well completion market has its base in the segmentation by operations,
type, and well type. This segmentation also aims at unravelling the volume-wise and value-wise data
regarding several aspects of the market.

By operations, the well completion market can be segmented by sand control, fracturing, valves, liner
hanger systems, packers, intelligent wells, & others. The fracturing segment has the maximum
market share, and it is fetching substantial revenue due to the increase in shale oil production and
surged drilling activities. Such operations require hydraulic fracturing from shale reserves and takes
in fracturing segment for maximum output.

By type, the well completion market includes equipment and services. The service segment has better
market control as the service provider are competing each other by proving their mettle in the
segment.

By well type, the well completion market can be segmented as offshore and onshore. The offshore
segment is deemed to project higher CAGR during the forecast period owing to the surge in higher
number of explorations in deep and ultra-deep-water locations.

Regional Analysis:

North America, Asia Pacific (APAC), Europe and the Middle East & Africa (MEA) are four major
regions in which MRFR has segmented the market to have a region-specific analysis. These four
regions are expected to describe growth pockets in detail.

North America’s market stake is quite high among regions owing to their involvement in global
explorations. This is further getting traction from several companies who are based out of this region
and employ superior technology in the field to have their expansion plan well-bolstered. The region
is also funding projects substantially which is expected to take the market forward.

Among others, the APAC and Africa are expected to make considerable contribution. Emergence of
oil fields in South China Sea and Gulf of Thailand and in the Egyptian desert, along with the
Mediterranean Sea from Africa are expected to boost the market notably during the forecast period.
The Middle East and African region can cover remarkable grounds in terms of revenue-generation
from crude oil deposits and production. But the intense political crises in the region can deter the
market from having the expected growth. The APAC market is expected to record growth based on
their growing demand from chemicals, automotive, and other industries.

Competitive Landscape:

The well completion market is getting response from several companies as they have realized the
market potential of the sector. These companies Weatherford International (U.S.), are GE Oil and Gas
(U.S.), Superior Energy Services (U.S.), Schlumberger (U.S.), C&J Energy Services Ltd. (U.S.). Pioneer
Energy Services Corp. (U.S.), Halliburton (U.S.), National Oilwell Varco, Inc. (U.S.), Wild Well Control
Inc. (U.S.), Basic Energy Services, Inc. (U.S.), CGG (France), Wireline Engineering Ltd. (UK), SGS
(Switzerland), and others. These companies make the market competitive by employing strategies
for their individual gain and, in the process, take the well completion market ahead.

In May 2019, Axis Energy Services launched a new research and development center would also work
as a rig monitoring center. The company is also known for its services regarding well completion.
Such a move is bound to take their well completion services further ahead. Their process would
include Axis CORE Technology as well.

About Market Research Future:

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