Well Intervention Market 2021 Future Growth Explored in Latest Research Report by 2026

According to the new market research report "Well Intervention Market by Service (Logging and Bottomhole Survey, Tubing/Packer Failure and Repair, Stimulation), Intervention (Light, Medium, Heavy), Application (Onshore, Offshore) Well (Horizontal, Vertical) Region - Global Forecast to 2026" The well intervention market size will grow to  USD 9.3 billion by 2026 from USD 7.6 billion in 2021, at a CAGR of 4.2% during the forecast period. The rising number of mature fields in North America, Europe, and the Middle East, along with rising primary energy demand from the Asia Pacific are the driving factors for the well intervention market, globally. The well intervention activities are fundamental requirements while well completion, production, and well abandonment, which creates opportunities for growth of the market.

Browse 241 market data Tables and 60 Figures spread through 313 Pages and in-depth TOC on "Well Intervention Market - Global Forecast to 2026 "

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The light intervention segment is expected to dominate the well intervention market, by intervention type, during the forecast period.

Light well intervention is carried out using wireline, slickline, or coiled tubing units. These are generally done to service the downhole equipment such as pumps or valves and to gather bottom-hole temperature, flow, and pressure data. The increasing capital expenditure trend from upstream operators to optimize the production of oil & gas from the existing wells is the driving force for the light intervention market during the forecast period.

The sand control services segment is expected to be the fastest-growing well intervention market, by service, during the forecast period. 

The sand control services segment, by service, is estimated to grow at the fastest rate during the forecast period. The sand control intervention services are carried out in regions with high sand infiltration when the formation is loosely packed, and the chances of sand intrusion in the well from the producing zone are higher, creating problems related to production. Hence, remedial intervention is carried out by either placing sand screens, frac packs, gravel packs, inflow control devices, resin injection, or high-rate water packs near the perforation. The demand for sand control services is robust worldwide, with high growth of unconventional and subsea oil and gas field developments. Such factors propel the growth of sand control operations in the well intervention market.

North America likely to emerge as the largest well intervention market

In this report, the well intervention market has been analyzed for six regions, namely, North America, South & Central America, Europe, Asia Pacific, Middle East, and Africa. According to the IEA, the US is determined to become the net exporter of energy by 2021 and to fulfill this objective; the oil production is being increased across the nation. Moreover, the US is the top explorer and producer of shale oil and gas. The old oil & gas fields in the Permian Basin and Bakken Ford require the intervention operations to enhance the productivity of the wells. Thus, North America dominated the well intervention market during the forecasted period.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the well intervention market.

Some of the key players are Schlumberger (US), Halliburton (US), Weatherford International (US), Baker Hughes (US) and NexTier Oilfield Solutions. The leading players are adopting various strategies to increase their share in the well intervention market.

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Global Well Intervention Market Report 2020: Market is Projected to Grow from $7.1 billion in 2020 to $8.8 billion by 2025

The global well intervention market is projected to reach USD 8.8 billion by 2025 from an estimated USD 7.1 billion in 2020, at a post COVID-19 CAGR of 4.5 % during the forecast period. Stabilized oil prices have revitalized the exploration & production expenditures globally. This has led to increased investments in the enhancement of productivity of oil & gas wells. Furthermore, the global well intervention market is driven by the upsurge in the oil & gas production by countries owing to rising demand from the Asia-Pacific.

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The well intervention market has promising growth potential due to the continuous  shale developments. It is difficult to extract oil & gas  from shale reservoirs due to which shale reservoirs require more intervention processes to optimize oil production. According to the IEA, the shale production from the US alone is expected to cross 100 million barrels per day. Shale development in other countries such as China and Argentina are also likely to boost the well production activities in these countries, which is likely to drive the well intervention market in North America, Latin America, and Asia Pacific.

The well intervention market, by service type, is segmented into logging & bottomhole survey, tubing & packer failure, stimulation, remedial cementing, zonal isolation, sand control, artificial lift, fishing, and reperforation. Sand control services are observed to be new revenue pockets for the oil field service providers owing to the drilling of shale reservoirs and oil sand formations. The services help in reducing the operational expenditure that is involved with the removal of sand. The need to enhance production from mature reservoirs are expected to drive the market for this segment during the forecast period.

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The report segments the well intervention market, by well type, into horizontal and vertical. The horizontal segment of the well intervention market is expected to grow at the highest CAGR during the forecast period, as horizontal drilling is observed as a more efficient method of drilling. The horizontal wells account for about 70% of the total drilled wells. Furthermore, the offshore and shale developments have boosted the horizontal well type to be the largest and the fastest growing segment of the global well intervention market.

The well intervention market, by application, is categorized into onshore and offshore. The African offshore segment is expected to provide many opportunities for well intervention market in the future, owing to huge drilling activities in offshore Angola, and Mozambique gas production activities. The offshore segment is further segmented based on the well depth as shallow, deepwater, and ultra-deepwater. The ultra-deepwater segment is expected to be the promising segment for well intervention providers. Growth is driven majorly by the increasing ultra-deepwater drilling and production activities and an increase in the number of maturing subsea wells. Furthermore, the investments to revive the mature onshore fields are expected to offer lucrative opportunities for the well intervention manufacturers during the forecast period.

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North America is estimated to be the fastest growing market for well intervention during the forecast period. The region has been segmented, by country, into US and Canada. The increasing shale oil & gas production in the North America region is driving the well intervention market in this region. According to the BP statistical report for June 2019, the US is the top producer of oil, producing 15.3 billion barrels of oil, in 2018. Moreover, the country has been experiencing huge investments from upstream operators to increase the production from the depleting fields in Texas, Permian Basin, and the Gulf of Mexico, along with new drilling activities in ultra-deepwater locations in the Gulf of Mexico, which is likely to drive the North American well intervention market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Well Intervention Market is Projected to Reach $11.6 billion by 2024 | Leading players are Schlumberger, Halliburton, NOV, Weatherford, BHGE

According to new research report "Well Intervention Market by Service (Logging & Bottomhole Survey, Tubing/Packer Failure & Repair, Stimulation, Artificial Lift), Type (Light, Medium, Heavy) Application (Onshore, Offshore) Well (Horizontal, Vertical) Region - Global Forecast to 2024", is projected to reach USD 11.6 billion by 2024 from an estimated USD 8.8 billion in 2019, at a CAGR of 5.7% during the forecast period. The rising number of mature fields in Europe and the Middle East, along with rising primary energy demand from the Asia Pacific are the driving factors for the well intervention market, globally. The well intervention activities are fundamental requirements while well completion, production, and well abandonment, which creates opportunities for growth of the market.

Browse 88 market data Tables and 54 Figures spread through 189 Pages and in-depth TOC on "Well Intervention Market - Global Forecast to 2024"

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1099

The stimulation segment is expected to be the fastest growing well intervention market, by service, during the forecast period.  

The stimulation segment, by service, well intervention market is estimated to grow at the fastest rate during the forecast period. This is mainly because of the continuous demand for stimulation services from new shale development activities in North America. Moreover, the process of well stimulation addresses the major challenge of wax formation in the producing wells. There are two types of remedial stimulation methods, hydraulic fracturing, and matrix treatments. The demand for hydraulic fracturing is robust worldwide, with high growth from North, South, and Central America, making them lucrative markets. Such factors propel the growth of stimulation operations in the well intervention market.


The light intervention segment is expected to dominate the well intervention market, by intervention type, during the forecast period. 

Light well intervention is carried out using wireline, slickline, or coiled tubing units. These are generally done to service the downhole equipment such as pumps or valves and to gather bottom-hole temperature, flow, and pressure data. The increasing capital expenditure trend from upstream operators to optimize the production of oil & gas from the existing wells is the driving force for the light intervention market during the forecast period.

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This research report categorizes the market based on type, service type, operation type, application, well type, and region.

Based on Service, the market has been segmented as follows:

• Logging & Bottomhole survey
• Tubing/Packer failure & repair
• Stimulation
• Sand Control
• Zonal Isolation
• Artificial Lift
• Fishing
• Re-perforation
• Others (Water shut off, casing repair, horizontal well sand control, well abandonment, sand washing, and paraffin, asphaltene, and hydrates removal)

Based on the Intervention Type, the market has been segmented as follows:

• Light
• Medium
• Heavy

Based on Application, the market has been segmented as follows:

• Onshore
• Offshore
  • Shallow Water
  • Deep-water
  • Ultra-deep Water

Based on well Type, the market has been segmented as follows:

• Vertical
• Horizontal  

Based on the Region, the market has been segmented as follows:

• North America
• Asia Pacific
• South & Central America
• Europe
• Middle East
• Africa

North America: The largest well intervention market.

In this report, the well intervention market has been analyzed for six regions, namely, North America, South & Central America, Europe, Asia Pacific, Middle East, and Africa. According to the IEA, the US is determined to become the net exporter of energy by 2020 and to fulfill this objective; the oil production is being increased across the nation. Moreover, the US is the top explorer and producer of shale oil and gas. The old oil & gas fields in the Permian Basin and Bakken Ford require the intervention operations to enhance the productivity of the wells. Thus, North America dominated the well intervention market in 2018.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the well intervention market.

Some of the key players are Schlumberger (US), Halliburton (US), NOV (US), Weatherford (US), and BHGE (US). The leading players are adopting various strategies to increase their share in the well intervention market. Contracts & agreements have been a widely adopted strategy by the major players in the well intervention market.

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com