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 global
sand control systems market is projected to grow at a CAGR of 3.78%, from 2017
to 2022. Asia Pacific was the largest market for sand control systems in 2016,
followed by the North America and European markets. The growth of the sand
control systems market is driven by rising oil & gas production, growing
number of wells drilled, and increased drilling activities in Asia Pacific.
Browse and in-depth TOC on “Sand Control Systems Market”
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164 – Pages
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The sand control systems market is dominated by a few
global players. The key players in this market include Baker Hughes (US),
Halliburton (US), Weatherford (Switzerland), Schlumberger (US), and National
Oilwell Varco (US).
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Major strategies adopted by the players in the sand
control systems market over the period 2014–2017(August) included contracts
& agreements, new product launches, partnerships, mergers &
acquisitions, and expansions. The contracts & agreements was the most
adopted strategy adopted by key players such as Baker Hughes (US), Tendeka
(UK), and Halliburton (US), among others.
The second most adopted growth strategy was new product launches and
partnerships.
Baker Hughes, a GE company (US) was formed in 2017 after
the acquisition of Baker Hughes Incorporated (US) by General Electric Company
(US) in July 2017. Baker Hughes operates its business in three segments,
namely, completion and production, drilling and evaluation, and industrial
services. Major services included under drilling and evaluation segment are
wireline services for well logging services, drilling services for directional
drilling systems, and drill bits for hole enlargement and coring. The
completion and production segment consists of hydrocarbons within a wellbore,
wellbore intervention services, intelligent product system, artificial lift, sand
control systems and pressure pumping. The company generates more than half
of its revenue from the completion and production segment. Baker Hughes adopted
contracts & agreements as the major strategy during 2014 to 2017. In July
2015, Baker Hughes introduced Vault barrier valve, which provides an
ISO-qualified barrier in the wellbore which helps to protect the lower
completion and minimize costly fluid loss during well construction. The Vault
barrier valve is designed primarily for sand control applications and can be
used in both cased and open hole wellbores.
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Halliburton Company (or Halliburton) is one of the
leading service providers and product suppliers in the upstream sector of the
oil & gas industry. The company provides 13 Product Service Lines (PSLs),
mainly under two divisions, namely, drilling and evaluation and completion and
production. Sand control systems fall under the completion and production
segment. Halliburton adopted contracts & agreements as the major strategy
during 2014 to 2017. In January 2017, Halliburton signed a contract with Shell
Iraq Petroleum Development on providing drilling services at Shell's Majnoon
Oil Field in Southern Iraq. As per the contract, Halliburton mobilize three
rigs to drill development wells and carry out work over activities over the
next two years.
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
