Sand Control Systems Market by Technique (Onshore and Offshore), Technique (Gravel Pack, Frac Pack, Sand Screens, Inflow Control Devices, Other Techniques), Well Type (Cased Hole and Open Hole) Forecast 2014 to 2023
Industry Outlook and Trend Analysis
The Sand Control Systems Market was worth USD 1.98 billion in 2014 and is expected to reach approximately USD 2.77 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 3.77% during the forecast period. In the midst of fluctuating unrefined petroleum costs, worldwide sand control system market is picking up from the focal point of oil creating organizations to help generation of dynamic oilfields. Oil makers are competing to join propelled generation gear, for example, sand control frameworks to boost creation. For example, in the U.S., oil creating organizations have embraced activities to upgrade the effectiveness and work life of oil rigs.
Application Outlook and Trend Analysis
The onshore sub-segment of the application section drove the sand control system market in 2016 and is anticipated to command the market amid the figure time frame. Presence of immense coastal oil and gas wells and expanded reliance on traditional oil and gas are the main considerations for biggest share of the overall industry of the onshore section in the sand control system market.
Technique Outlook and Trend Analysis
The gravel pack sub-segment of the technique segment drove the sand system frameworks market in 2016 and is anticipated to command the market amid the conjecture time frame. Expanding penetrating of ordinary oil and gas fields in inland districts over the world is the key explanation behind biggest piece of the pie of gravel pack section in 2017. The inflow control devices section is relied upon to develop at the speediest rate amid the gauge time frame. Expanding life expectancy of the well and lessening the use are the principle factors driving the inflow control method portion in the sand control system market.
Regional Outlook and Trend Analysis
The market in Asia Pacific drove the worldwide sand control system market in 2016. Developing economy of creating nations, for example, Australia and China, developing administrative help in oil and gas industry, and expanding private ventures to help new penetrating exercises are relied upon to drive the sand control system market in Asia Pacific.
The leading players in the market are Baker Hughes (US), Halliburton (US), Schlumberger (US), Weatherford (Switzerland), and National Oilwell Varco (US), among others. Application advancement and modified products are anticipated to be the key parameter for being focused in this industry, with visit joint endeavors, mergers, and acquisitions being embraced as an endeavor to broaden product portfolio and pick up piece of the overall industry.
The Sand Control Systems Market is region-wise segmented as follows-
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2014 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?