Well Intervention Market worth USD 11.6 Billion by 2024 | Global Forecast, Trends, Opportunity and Industry Analysis
The Global Well Intervention Market delivers comprehensive overview of the global market along with the market elements such as market drivers, trends, challenges and restraints.
Pune, India – July 9, 2019 /MarketersMedia/ —
A Fresh report titled “Well Intervention Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 189 pages which highly exhibit on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. An exclusive data offered in this report is collected by research and industry experts team.
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The Well Intervention Market is projected to reach US$ 11.6 Billion by 2024 from an estimated US$ 8.8 Billion in 2019, at a CAGR of 5.7% during the forecast period. The report spread across 189 Pages, Profiling 12 Companies and Supported with 88 Tables and 54 Figures is now available in this research.
Top Companies profiled in the Well Intervention Market:
Halliburton (US)
Schlumberger (US)
BHGE (US)
Weather ford (US)
NOV (US)
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“The horizontal segment, by well type, is expected to be the largest and the fastest growing market from 2019 to 2024”
The well type segment is categorized as horizontal and vertical, the two drilling methods adopted by companies. In 2018, horizontal wells accounted for about 70% of the wells drilled globally. This is majorly due to the increasing drilling activities in the Middle East and Europe, where horizontal drilling is more prominent. More well intervention operations are required in horizontal wells as compared to the vertical wells as the well bore faces a higher challenge of water shutoffs and wax formation.
“North America: The largest and the fastest growing region in the well intervention market.”
North America is expected to dominate the global well intervention market between 2019 and 2024. The North American oil production is rising drastically, with a growth rate of 8.5% from 2017 to 2018. Moreover, the continuous shale activities in the region are driving the demand for well intervention operations. The upstream operators, such as Total, ExxonMobil, Chevron, and Apache, also have a significant presence in North America.
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
Breakdown of primary participants’ profile:
• By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
• By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
• By Region: Asia Pacific- 25%, Middle East– 23, Africa – 12%,Europe- 18%, North America- 13%, and South& Central America- 9%
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Report Highlights:
• To forecast the market size of segments with respect to major regions, namely, North America, South & Central America, the Middle East, Europe, Asia Pacific, and Africa
• To define, describe, and forecast the global well intervention market based on service, intervention type, application, well type, and region
• To provide detailed information on the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges
• To strategically analyze the micro-markets with respect to individual growth trends, prospects, and contribution to the total market
• To analyze major tools and equipment used for well intervention services
• To analyze market opportunities for stakeholders and details of the competitive landscape for market leaders
• To strategically profile key players and comprehensively analyze their respective market share and core competencies
• To track and analyze developments in the well intervention market, such as new product launches, expansions, mergers & acquisitions, and contracts & agreements
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