According to the new market research report “Sand Control Systems Market by Application (Onshore
and Offshore), Techniques (Gravel Pack, Frac Pack, Sand Screens, Inflow Control
Devices), Well Completions Type (Cased Hole and Open Hole), and Region - Global
Forecasts to 2022”, published by MarketsandMarkets™, the sand
control systems market is expected to grow at a CAGR of 3.78%, from 2017 to
2022, to reach a market size of USD 2.84 billion by 2022. Rising oil & gas
production, high day rates of offshore rigs, and growth in number of wells are
the major factors driving the sand control systems market. New oilfield
reserves, and redevelopment of ageing reservoirs are expected to create new
opportunities for the sand control system companies. Moreover, governments in
most of the countries are investing in oil & gas industry to match up with
the growing energy demand. All these factors are further expected to boost the
sand control systems market during the forecast period.
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in-depth TOC on "Sand Control Systems Market"
96 - Tables
40 - Figures
164 - Pages
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The sand control systems market is dominated by a few
major players that have established brand names and wide regional presence. The
leading players in the sand control systems market include Halliburton (US),
Baker Hughes (US), National Oilwell Varco (US), Schlumberger (US), Weatherford
(Switzerland), Oil States International (US), Tendeka (UK), and Welltec
(Denmark) among others.
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Based on application, offshore segment is estimated to be
the fastest growing segment of the sand control systems market from 2017 to
2022. because the sand control systems helps in enhancing the life of the rigs,
understanding complex reservoir characteristics, and aiding in exploration at
ultra-deep levels in offshore applications. The market for sand control systems
in Middle East and Africa is driven by large offshore discoveries and huge
proven oil reserves in countries such as Saudi Arabia and UAE.
The offshore segment offers promising business
opportunities to sand control systems market.
In the well type segment, the cased hole well completion
segment is estimated to grow at the fastest rate during the forecast period.
Evaluating the formation and completion of the well, and determining the state
of the corrosion and perforation of well are the major factors driving the growth
of the cased hole well completion segment in the sand control systems market.
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The sand control
systems market in South America is projected to grow at the fastest growth
rate from 2017 to 2022. Presence of vast oil & gas potential reserves and
increasing drilling activities is likely to drive the growth of the sand
control systems market in the region during the forecast period. Also, increase
in offshore activities with growing government support and investments in the
oil & gas industry, especially in Brazil is also driving the sand control
systems market in South America region.
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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