Thursday 23 April 2015, Amsterdam
The new report, now available on ASDReports, recognizes the following companies as the key players in the Global Well Completion Equipment Market: Baker Hughes, Halliburton, Schlumberger, Weatherford International and Welltec.
Other Prominent Vendors in the market are: Casewell Services, Crossover, H.P. Well Screen, Map Oil Tools, Patterson Services, Performance Wellhead & Frac Components, Red Spider Technology, TAM International, T I W Corp., Turn-Tex Machine & Tool, Watson Packer, Wellhead Works and World Oil Tools.
Commenting on the report, an analyst from the report's team said: “New technological advances in well completion equipment will give the required boost to the market in terms of an increase in their demand to improve production rates, the redevelopment of existing oilfield wells, facilitating production from unconventional resources such as shale formation, and better well management. Moreover, the market vendors are increasing their investments in R&D, which in turn is likely to improve the reliability and efficiency of well completion equipment.”
According to the report, one of the key factors driving the growth of the market is an increase in the demand for oil and gas across the globe. The demand will encourage large investment in advanced technologies to increase the efficiency of the well completion equipment, thus ensuring that the oil production meets the growing demand.
Further, the report states that one of the issues confronting the market is the emergence of non-conventional and renewable sources of energy. With the advent of the peak oil theory, the oil crisis, and the finite nature of oil and gas supplies along with rising environmental and human health concerns, renewable and sustainable sources of energy have gained importance.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.